module_3

1Choosing Brand Elements to Build Brand Equity; Criteria for choosing brand elements, options & tactics for brand elements- Brand name, Naming guidelines, Naming procedure, Awareness, Brand Associations, Logos & Symbols & their benefits, Characters & Benefits, Slogans & Benefits, Packaging.
Leveraging Brand Knowledge:
Meaning of Brand Knowledge, Dimensions of Brand Knowledge, Meaning of Leveraging Secondary Brand Knowledge & Conceptualising the leverage process.
STRATEGIC BRAND MANAGEMENT
Brand elements or brand identities
Brand elements sometimes called brand identities are those trade markable devices that serve to identify and differentiate the brand . The main ones are brand name, URLs, logos symbols and characters slogans jingles package etc….
*
*
Memorability
Meaningfulness
Likability
Transferability
Adaptability
Protectability
2. Meaningfulness
Brand elements may take on all kinds of meaning, with either descriptive or persuasive content.
Two particularly important criteria
General information about the nature of the product category: does the brand elements have descriptive meaning and suggest something about the product category
Specific information about particular attributes and benefits of the brand :
The first dimension is an important determinant of brand awareness and salience; the second, of brand image and positioning.
Do customers find the brand element aesthetically appealing?
A memorable meaning and likable set of brand elements offers many advantages because consumers often do not examine much information in making product decision.
Descriptive and persuasive (believable, winning) elements reduce the burden on marketing communications to build awareness.
4. Transferability
Transferability measures the extent to which the brand elements adds to the brand equity of new product for the brand
How useful is the brand element for line or category extensions?
To what extent does the brand element add to brand equity across geographic boundaries and market segments?
To a large extent this depends on the cultural content and linguistic qualities of the brand elements.
5. Adaptability
The fifth consideration for brand elements is their adaptability over time, because of changes in consumer values & opinions or simply because of a need to remain contemporary most brand elements must be updated
The more adaptable and flexible the brand element, the easier it is to update it to changes in consumer values and opinions.
For example, logos and characters can be given a new look or a new design to make them appear more modern and relevant.
Formally register chosen brand elements with the appropriate legal bodies.
Vigorously (strongly, forcefully) defend trademarks from unauthorized competitive infringement.
Options & Tactics for Brand Elements
A variety of brand elements can be chosen that inherently enhance brand awareness or facilitate the formation of strong, favorable, and unique brand associations.
Brand names
1. Brand Names
The brand name is a fundamentally important choice because it often captures the central theme or key association of a product in a very compact and economical fashion.
Brand names can be an extremely effective shorthand means of communication.
Like any brand element, brand names must be chosen with the six general criteria of memorability, meaningfulness, likability, transferability, adaptability, and protectability in mind.
Brand Naming Guidelines
Familiarity and meaningfulness :
Brand associations
The explicit and implicit meanings consumers extract from it are important. In particular, the brand name can reinforce an important attribute or benefit association that makes up its product positioning.
Brand Naming Procedures
2. URLs
URLs (uniform resource locators) specify locations of pages on the web and are also commonly referred to as domain names.
A company can either sue the current owner of the URL for copyright infringement, buy the name from the current owner, or register all conceivable variations of its brand as domain names ahead of time.
Another issue facing companies with regard to URLs is protecting their brands from unauthorized use in other domain names, a company can either sue the current owner of the.
URL for copyright infringement buy the name form the current owner or register all conceivable variations of its brand as domain names ahead of time.
3. Logos and Symbols
Play a critical role in building brand equity and especially brand awareness.
Logos have a long history as a means to indicate origin ownership or association.
Logos range from corporate names or trademarks (word marks with text only) written in a distinctive form, to entirely abstract designs that may be completely unrelated to the word mark, corporate name, or corporate activities.
Benefits :logos and symbols are often easily recognized and can be a valuable way to identify products, although consumers may recognize them but be unable to link them to any specific product or brand.
Another branding advantage of logos is their versatility: because they are often nonverbal logos transfer well across culture and over a range of product categories
4. Characters
A special type of brand symbol—one that takes on human or real-life characteristics
Some are animated like Pillsbury’s Poppin’ Fresh Doughboy, Peter Pan peanut butter’s character, and numerous cereal characters such as Tony the Tiger, Cap’n Crunch, tin tin.
Advantages:
Helps to get attention
Create perceptions of the brand as being fun, interest..
Provide a direct revenue & additional brand exposure.
Disadvantages:
5. Slogans
Some slogans help to build brand awareness by playing off the brand name in some way.
Slogans are short phrases that communicate descriptive or persuasive information about the brand.
Slogans are powerful branding devices because, like brand names, they are an extremely efficient, shorthand means to build brand equity.
Advantages:
More comphrensive
6. Jingles
Jingles are musical messages written around the brand. Typically composed by professional songwriters, they often have enough catchy hooks and choruses to become almost permanently registered in the minds of listeners—sometimes whether they want them to or not!
Jingles are perhaps most valuable in enhancing brand awareness.
We can think of jingles as tended musical slogans and in that sense classify them as a brand elements.
7. Packaging
It is the activities of deigning and producing containers or wrappers for a product.
From the perspective of both the firm and consumers, packaging must achieve a number of objectives:
Identify the brand.
Assist at-home storage.
Aid product consumption.
Benefits of packaging
Know your consumers.
Leveraging Brand Knowledge
It may be quite important to creating strong, favorable and unique associations or positive responses if existing brand associations or responses are deficient in some way.
It can also be an effective way to reinforce existing associations and responses in a fresh & different way.
Leveraging secondary brand knowledge may allow marketers to create or reinforce an important point of difference versus competitors or a necessary or competitive point of parity. When choosing to emphasize source factors or a particular person place or thing marketer should take into account consumer awareness of that entity as well as how the associations judgments or feeling for it might become linked to the brand or affect existing brand associations
We can create secondary brand knowledge by linking the brand to the following.
Companies through branding strategies.
Channels of distribution through channel strategy
Other brands through co-branding
4. Co branding
Co-branding: it is also called brand bundling or brand alliances – occurs when two or more existing brands are combined into a joint product or are marketed together in some fashion.
Co-branding can create more compelling points of difference or points of parity for the brand- or both than otherwise might have been feasible, as a result it can generate greater sales form the existing target market as well as open additional opportunities with new consumers and channels.
Co-branding can reduce the cost of product introduction because it combines two well-known images, accelerating potential adoption.
it also may be a valuable means to learn about consumers and how other companies approach them.
Occurs when two or more existing brands are combined into a joint product or are marketed together in some fashion
Examples:
There are four main approaches to co- branding that companies should consider.
Promotional/sponsorship co-branding.
Co-branding began with endorsements. This approach can be a good beginning point for organizations; the relationship is simple, but it can result in significant brand enhancement and sometimes even an unplanned opportunity.
Ingredient co-branding.
Partners in ingredient co-branding are usually the company’s current suppliers or largest buyers. Easy access to offerings and a well-established relationship translates into a lower level of investment required than in other forms of co-branding. An ingredient brand’s success relies on being distinct, either through patent protection or by being a dominant brand.
3. Value chain co-branding.
Other players in the value chain can create new experiences for the consumer, which, in turn, can create a level of customer value and differentiation not possible with promotional or ingredient co-branding. There are three types of value-chain co-branding:
Product-service co-branding. This approach allows partners to share industry-specific competencies while at the same time opening previously unavailable customer bases.
Supplier-retailer co-branding. These relationships can range from the natural to the less obvious—even to traditional rivals, which can help both partners become better positioned against well-entrenched competitors.
Alliance co-branding. Globalization and better, broader offerings through cooperation aside, forming alliances with similar companies may be crucial for rapidly consolidating industries.
4. Innovation-based co-branding.
In this approach, partners create entirely new offerings to provide substantial increases in customer and corporate value. It offers the potential to grow existing markets and create entirely new ones.
Reduce cost of product introduction
Expand brand meaning into related categories
Broaden meaning
Negative feedback effects
Organizational distractions
Ingredient branding :which creates brand equity for materials components or parts that are necessarily contained within other branded products.
The uniformity and predictability of ingredient brands can reduce risk and reassure consumer as a result ingredient brands can become industry standards and consumers will not want to buy a product that does not contain the ingredient.
A special case of co-branding that involves creating brand equity for materials, components, or parts that are necessarily contained within other branded products.
Advantages & dis advantages similar to co branding:
Examples:
Intel inside
Involves contractual arrangements whereby firms can use the names, logos, characters, and so forth of other brands for some fixed fee
Examples:
Designer apparel and accessories (Calvin Klein, Pierre Cardin, etc.)
6. Celebrity Endorsement
Shapes the perceptions of the brand
Celebrity should have a high level of visibility and a rich set of useful associations, judgments, and feelings
Q-Ratings to evaluate celebrities
SRK continued to be the King in the list that saw five new entrants, Aamir Khan, Priyanka Chopra, Kareena Kapoor, Madhavan and Vidya Balan.
Along with Amitabh Bachchan and Sachin Tendulkar, Aishwarya Rai, Preity Zinta and Kajol
Celebrity endorsement : using well-known and admired people to promote products is a widespread phenomenon with a long marketing history
Potential problems : there are a number of potential problems with linking a celebrity endorser to a brand
First celebrity endorsers can endorses so many product that they lack any specific product meaning or are seen as opportunistic or insincere.
Second there must be a reasonable match between the celebrity and the product , many past endorsement would seem to fail this test
Celebrity endorsers can get in trouble or lose popularity diminishing their marketing value to the brand or just fail to live up to expectation.
Many consumers feel that celebrities are only doing the endorsement for the money and do not necessarily believe in or even use the endorsed brand.
Finally celebrities may distract attention form the brand in ad’s so that consumers notice the stars but have trouble remembering the advertised brand.
Celebrity Endorsement: Potential Problems
Celebrity endorsers can be overused by endorsing many products that are too varied.
There must be a reasonable match between the celebrity and the product.
Celebrity endorsers can get in trouble or lose popularity.
Many consumers feel that celebrities are doing the endorsement for money and do not necessarily believe in the endorsed brand.
Celebrities may distract attention from the brand.
Conceptualizing the leveraging process
Linking the brand to some other entity – some source factor or related person, place or thing – may create a new set of associations form the brand to the entity, as well as affecting existing brand associations.
Creation of new brand associations: by making a connection between the brand and another entity consumers may form a mental association form the brand to this other entity and consequently to any or all associations judgment feelings and the like linked to that entity.
This secondary brand knowledge edge is most likely to affect evaluation of a new product when consumers lack either the motivation or the ability to judge product-related concerns.
Effects on existing brand knowledge: linking the brand to some other entity may not only create new brand associations to the entity but also affect the existing brand associations.
The following three important factors in predicting the extent of leverage form linking the brand to another entity:
Awareness and knowledge of the entity; if consumer have no familiarity with or knowledge of the secondary entity then obviously there is nothing they can transfer form it.
Meaningfulness of the knowledge of the entity: given that the entity evokes some positive association judgment or feelings is this knowledge relevant and meaningful for the brand ????
Transferability of the knowledge of the entity: assuming that some potentially useful and meaningful associations …….. Exist regarding the entity and could possibly transfer to the brand.

module_3

Documents