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Modern Marketing; Brand and Brand Equity Asst. Prof.Dr.Jusana Techakana 1

1 1 Modern Marketing ; Brand and Brand Equity .Modern Marketing ; Brand and Brand Equity .

B r a n d M a n a g e m e n t A s s t . P r o f . D r . J u s a n a T e c h a k a n a

Two-way Dialogue WithTwo-way Dialogue With

Changing World

Old WorldOld World New WorldNew World

Two-way Dialogue With Consumers

Focus on Building Long Term Relationships With

Consumers

Two-way Dialogue With Consumers

Focus on Building Long Term Relationships With

Consumers

“Talking At” Consumers

Focus on Winning New Customers

“Talking At” Consumers

Focus on Winning New Customers

Marketers Use and Coordinate Many Different Forms of Communication

With Consumers

Marketers Relied Primarily on Advertising and

Promotions

Marketers Relied Primarily on Advertising and

Promotions


Traditional Marketing Mix

ProductPricePlPlacePromotion

AdvertisingPublic RelationsSales PromotionDirect MarketingPersonal selling

Paradigm Shift

4 P’s 3 P + 1 C’s

ProductPricePlaceP ti C i tiPromotion Communication


4 C’s of Modern Marketing

Consumer Solutions (Product)Consumer Solutions (Product)Cost to Consumer (Price)Convenience (Place)Communication (Promotion)

A name, term, sign, symbol or design or combination of

What is a Brand?

them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitorscompetitors.


• A brand aims to segment the market.

B d b ilt b i t t diff

What’s in a Brand

• Brands are built up by persistent difference over the long run.

• A brand is a living memory.

• A brand is a genetic program.

Modern Marketing ; Brand and Brand Equity 7/15

• A brand gives products their meaning and directions.

A b d i t t b t ll d b

What’s in a Brand

• A brand is a contract between sellers and buyers.

• A brand exists only in the mind of the customer

• A brand has value only if the customer is willing to favor it in a purchase or use situation.



A Brand Is More Than a Product

BRAND

ProductScope

AttributesQualityUses

Organizational Associations

Brand Personality

Symbols

Brand‐Customer Relationships

User Imagery

County of Origin


p

Emotional Benefits

Self‐Expressive Benefits

g y

The Relationship Between the Elements of a Brand

Attributes

Benefits

Essence

Attributes

Benefits



Understanding the language of branding

1. BrandA name term sign symbol or design or a combination of themA name, term, sign, symbol or design, or a combination of them

intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.

2. Brand EssenceThis is the heart and soul of brand – a brand’s fundamental nature or

quality.

3. Brand PromiseTo be successfully positioned in the marketplace, brand must promise

differentiated benefits that are relevant and compelling to the consumer. The benefits can be functional, experiential, emotional or self‐expressive.



4. Brand PositioningThis is the way the brand is perceived within a given competitive set inThis is the way the brand is perceived within a given competitive set in

the consumer mind.

5. Brand PersonalityThis refers to adjectives that describe the brand. (such as fun, kind, sexy,

safe, sincere sophisticated, cheerful, old fashioned, reliable, or progressive)

6. Brand AssociationsThis refers to anything a consumer associates with the brand in his orThis refers to anything a consumer associates with the brand in his or

her mind.




7.7. Brand EquityBrand EquityfThis is the commercial value of all associations and expectations

(positive and negative) that people have of an organization and its products and services due to all experiences of, communications with, and perceptions of the brand over time.

8. Brand ImageThis is the totality of perception resulting from all experiences with and

knowledge of the brand. Brand image is how consumers perceive the brand.

9. Brand IdentityThis refers to a combination of visual, and other sensory components

that create recognition, represent the brand promise, provide differentiation, create communication synergy, and are proprietary.



10. Brand Architecture (to Brand Structure)Think of this as brand’s family tree or its hierarchy It is how anThink of this as brand’s family tree or its hierarchy. It is how an

organization organizes the various named entities within its portfolio.

11. Brand PortfolioThis is the mix of brands and sub‐brands owned by an organization. This

portfolio should be actively managed to ensure effective, efficient brand management.

12. Corporate BrandpThis is the brand bearing the company name. It is always the highest in a

brand hierarchy.




13. Master BrandThis is the dominant highest level brand in a hierarchy CorporateThis is the dominant, highest level brand in a hierarchy. Corporate

brands are master brands. Parent brands may or may not be master brands.

14. Parent BrandThis is a brand that is extended into more than one product category. It

may or may not be the same as the corporate brand.

15. Sub – BrandThis is a new brand that is combined with a parent or corporate brand inThis is a new brand that is combined with a parent or corporate brand in

the brand identity system.

16. Brand ExtensionThis refers to the introduction of existing brand into a new product

category or market segment.


Brand Equity

Product Attributes Product Features

How to Build Brand Equity

Product ConceptBrand Concept Brand Attributes Brand Features

.Product Benefits

Physical Brand Positioning Psychological

Product Information

IMC

Brand Benefit

Brand Information

IMC /Brand Contact Points

Advertising PR Sales Promotion Direct Marketing Event

Brand Knowledge

Positive Unique Strong

Brand Equity

DM/ Personal Selling


Brand Equity

Brand MarketingBrand MarketingBrand Equity

Differentiated

Positive Differentiated

StrongStrong Positive Differentiation

Uniqueness

Brands are in trouble in many markets around the world

Brands are in trouble

A product is something that is made in a factory.A brand is something that is bought by a customer.A prod ct can be copied aA product can be copied; a brand is unique.


Current situation of brands

Perception of Parity

Channel challenges

Price / value relationships

Lack of continuing support

Transaction costs Clutter of Brands

Current situation of brands

Fragmentation of product

Thinning of Life (Erosion of Brand)

Equivalent

Psychological aspects are important


What Is a Brand?

Brand: A perception resulting from experiences with and information aboutexperiences with, and information about, a company or line of products.

Brands Can BecomeBrands Can BecomeVery Familiar to ConsumersVery Familiar to Consumers

Coke: A Successful User of MC to Build a Brand


Moulin Rouge

Venetian Hotel


Mickey Mouse

Even a Building Serves as a Message For a Brand


Brand Insight

•Strong brands are cost-effective•Strong brands are cost-effective marketing tools.

•A brand is a symbol with tremendouspotential.•A good brand represents trust.•Suppliers and customers respect pp pleading brands.

Brand Insight

•Brands put products as the first choice in theBrands put products as the first choice in the customer’s mind and the first choice in the market.•Brand management is creating preference with superior perceived value for money, competitive advantages, and distinctive brand profile.•The strength of brand promotes the company’s•The strength of brand promotes the company s reputation.


Brand Insight

•Brands are strategic assets.•Brands take the role of identifying y gthe products.•The identity of the brand is the foundation of any good brand building program.

•Brand exposure creates visibility, and visibility creates brand equity.•A brand is the capitalized value of the trust between a company and its customers.

Brand Insight

•Brands assure quality. •Brands simplify the selection process•Brands simplify the selection process.•Brands have value for retailers.(Sales persons)•Brand equity adds value to the product.•Brands project consistent and clear positioning.p g•Brands are bought not once, but repeatedly.


Final Note:

•Brands attract people bias people and•Brands attract people, bias people, and convince people. •Brands placebo effect tells us that our belief that something will do such and such leads us to believe that it actually did-even when it didn’t.

Build a brand because products and services are sold on faith,

and brands create faith.

1 1 Modern Marketing ; Brand and Brand Equity .Modern Marketing ; Brand and Brand Equity .

For use only with Duncan texts. © 2005 McGraw-Hill Companies, Inc. McGraw-Hill/IrwinB r a n d M a n a g e m e n t A s s t . P r o f . D r . J u s a n a T e c h a k a n a

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