brands & branding management presentation & discussion[1]

8/7/2019 Brands & Branding Management Presentation & Discussion[1]

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Brands and Brand

Management


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Th e Issue of Branding

j Branding simplifies t h e complexity of th e offering via brand elements suc h as:

Brand names Logos

Symbols Package designsBranding h elps in t h e t h oug h t processes of

consumers w h en t h ey are consideringpurc h asing or purc h asing an offering.


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Th e Issue of Branding contd.

j Branding h elps in reducing risk associated wit h an offering.

j Used as a differentiating criteria betweenofferings.j Th e genesis/basis of brand management

is consumer perceptions t h e need tosatisfy consumers perceived differencesbetween offerings.


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So, w h at exactly is a brand?j In its simplest definition,

it is a name, term,symbol, feature or any

combination of th

ese. Itis used/employed toidentify t h edistinctiveness (special)of an offering (i.e.,

product, service, brand)from t h ose of competitors.


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A brand name must be:

j Uniquej Distinctive

j Easy to rememberj Easy to pronouncej Relevant to t h e offeringj Positive about t h e offering


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Brands

j Virtually anyt h ing can be and h as beenbranded

j Similarly, anyt h ing can be positioned A ny brand no matter h ow strong at anyone point in time is vulnerable and issusceptible to poor brand management.


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F ive F actors Leading to Brand

Leadersh

ip1. Vision of t h e mass market2. Managerial persistence

3.F

inancial commitment4. Relentless innovation5. A sset leverage

The underlying issue about the above is theconcept of added value


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W h at is added value?

j t h is is t h e case/situation w h ereby t h efinis h ed offering can command a h igh er priceth an t h e cost of its component parts or t h e rawmaterial used in producing it

in ot h er words...

j Th e finis h ed offering is more valuable to t h econsumer t h an t h e pile of raw material fromwh ich it was made.


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Brand/added values contd.

j Brand values h elp create a uniqueness aboutth e offering w h ere none may exist functionally.

j Th ey are t h e means by w h ich offerings arepositioned in t h e market place.

j Brand values create a total image andpersonality for t h e brand/offering.

j T o t h e consumer t h e brand provides aguarantee of quality, value for money, t h e bestch oice.


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Brand Equityj fundamentally, branding is about endowing products

and services with the power of brand equity .. (Keller,2002, pp.42).

j Brand equity refers to brand/added value t h at h as been

associated wit h th e offering over time.j Brand equity = t h e value of t h e brand.

j Several ways in w h ich th e value of a brand can bemanifested or exploited to benefit t h e firm:

j (a) greater profits,j (b) market s h are,j lower production costsj (d) clear and long-lasting position in t h e market place.


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H ow to ac h ieve brand equity

j Skillful design and implementation of marketing programs

jTh

e capitalization on a well th

ough

t-outpositioningj Strong brand leaders h ip position in t h e

market place

brands & branding management presentation & discussion[1]

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