Download - Brand Management MMI
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What is a brand?
A brand is a name, term, sign,
symbol, design or a combinationof the above to identify thegoods or service of a seller and
differentiate it from the rest of thecompetitors
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A brand comprises of Tangible attributes
Intangible attributes
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TangiblesEg.
Product
Packaging
Functional benefits
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IntangiblesEg.
Quality
Emotional benefits
Values
Culture Image
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Copyright 2009Dorling Kindersley(India) Pvt. Ltd.
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branded the destination with abrand name, logo, and the
tagline Gods Own Country
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Brand Identity
It is the marketers promise to
give a set of features, benefitsand services consistently
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Advantages of Branding Easy for sellers to track down problems and process
orders
Provide legal protection of unique product features Gives an opportunity to attract a set of loyal and
profitable customers
Helps to give a product at different segments having
separate bundle of benefits Helps build corporate image
Minimises damage to company if brand fails
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Brand Building
Involves all the activities that are
necessary to nurture a brandinto a healthy cash flow streamafter launch
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What kind of activities?Eg.
Product development
Packaging
Advertising
Promotion Sales and distribution
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What is brand equity? The premium it can command in the
market
Difference between the perceived valueand the intrinsic value
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What happens when brands
have high equity? The company can have more leverage
with the trade
The company can charge a premium ontheir product
The company can have more brand
extensions The company can have some defense
against price competition
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Advantages of Strong Brands Improved
perceptions ofproduct
performance Greater loyalty
Less vulnerability tocompetitive
marketing actions Less vulnerability to
crises
Larger margins
More inelasticconsumer response
Greater tradecooperation
Increased marketingcommunicationseffectiveness
Possible licensingopportunities
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Brand Loyalty PyramidCommitted buyer
Likes the brand. Considersit a friend
Satisfied buyer. Would
incur costs to switch
Satisfied buyer/noreason to change
Switchers/Price
sensitive
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Brand Parity
Consumers buy from a set of
acceptable preferred brands
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Umbrella Branding Products from different categories
under one brand
Dangerous to the brand if the principalbrand fails
Sometimes the company name is
prefixed to the brand. In such cases thecompany name gives it legitimacyandthe product name individualizes it.
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How are brand names
chosen? What does the brand name mean?
What associations / performance /
expectations does it evoke ?
What degree of preference does itcreate?
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A brand name should indicate Product benefits
Product quality
Names easy toremember,recognise,pronounce
Product category
Distinctiveness
Should not indicatepoor meanings inother markets orlanguages
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Brand Strategy
Line extension existing brand extended tonew offerings in the same product category
Brand extension existing brand nameextended to new product categories
Multi brands Different brands in the sameproduct category
New brand
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Brand Repositioning
This may be required after afewyears to face new competition and
changing customer preferences
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Copyright 2009Dorling Kindersley(India) Pvt. Ltd.
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Figure 10.3 Brand Resonance Pyramid
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Internal Branding Choose the right moment
Link internal and external marketing
Bring the brand alive for employees
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Devising a Branding Strategy
Develop new brandelements
Apply existing brandelements
Use a combination ofold and new
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Reasons for Brand Portfolios Increasing shelf presence and retailer
dependence in the store
Attracting consumers seeking variety
Increasing internal competition withinthe firm
Yielding economies of scale inadvertising, sales, merchandising, anddistribution
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Brand Roles in a BrandPortfolio
Flankers
Low-endEntry-level
High-endPrestige
Cash Cows