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Everyone brands

Learn what a brand is, its significance in the market, and the strategies to build and manage a successful brand. Explore the concept of brand equity, threats to brand equity, and the various aspects of brand strategy. Discover the importance of positioning, brand personality, and brand affiliation. Also, delve into the concept of brand extensions and rational branding.

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Everyone brands

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  1. Everyone brands • Manufacturers • Retailers • Private • Store • Wholesalers • Services • Malls HED 460

  2. What is a brand? • A name • A symbol • A product • A store • A promise the consumer can trust • A key asset HED 460

  3. What is a brand? (Tangibles) • AMA – American Marketing Association • “A name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other seller’s.” HED 460

  4. What is a brand? • Cow fits definition – is it a brand? • What if Mercedes becomes Dolores – will it no longer be a brand? • If Pentium becomes Intellect (rejected candidate name), will it sell less? HED 460

  5. What is a brand? • Cow is not a brand, but a product class • Guernsey or Holstein might represent product forms • Symbol burned into cow’s hide to identify the cows of a particular owner is a brand HED 460

  6. Why Consumers use Brands HED 460

  7. Shop fewer stores • 1980 – 3.5 stores • 1990 – 2.75 stores • 1995 – 2.2 stores • 2000 – 1.2 stores HED 460

  8. Brand as asset – (Intangibles) • Brands have equity • perceived to have value beyond what the products/services/stores they are attached to produce in sales and profits • Brands can be more lasting than assets of factories, warehouses, stores • Brands may appreciate rather than depreciate • Brands are portable HED 460

  9. Measuring brand equity • Value stockholders place on a brand • Market share, customer loyalty, market penetration, lifetime value of a customer • Consistently deliver on their promise • The Gap • Home Depot • Amazon.com HED 460

  10. What threatens brand equity? • Low or inconsistent quality • Michelob (Where you’re going, it’s Michelob) • Extending into inappropriate channels • Lack of innovation • Not differentiating • Not meeting consumer expectations • “every point of customer contact” HED 460

  11. Planning Brand Strategy • Know your core business • Develop 3 interrelated strategies • Positioning • Personality • Affiliation • Communicate brand strategies HED 460

  12. Company performance HED 460

  13. 1. Positioning strategy • The niche a brand occupies in consumers’ minds • Maintain parity with competitors AND differentiate • Must define 3 things • target audience • competitive frame of reference • meaningful differentiation point HED 460

  14. Motel 6 positioning • For frugal people, Motel 6 is a comfortable night’s stay at the lowest price of any national chain. • Target audience • Competitive frame of reference • Meaningful Differentiation point HED 460

  15. Develop positioning strategy • For (target audience), your brand is a (competitive frame of reference) that provides (meaningful differentiation point). • Is it a brand? Not just a store name. • Group members’ names – IC #5 HED 460

  16. Positioning examples • Product superiority, maintain service • Mercedes-Benz, Sony • Excel in service, hold own in quality • Nordstrom, Saturn • Superior use of user imagery, adequate or strong performance • Calvin Klein, Harley Davidson HED 460

  17. 2. Create Brand Personality Strategy • Set of human traits brand portrays in its relationship with its customers • Character or personality that predicts what to expect • “that sounds like a __________ ad” • Motel 6 personality strategy • Deliver brand personality at every point of contact HED 460

  18. 3. Manage Brand Affiliation • How you think others will perceive you if they know you use a particular brand? • Prevent negative or limiting perception • Motel 6 example • Bic example • ballpoint pens - 1950’s • disposable cigarette lighters - 1970’s • disposable razors - 1980’s • Perfume - 1989 - “Paris in your pocket” HED 460

  19. Homogenous tastes Economies of scale Small markets get their share Brand effectiveness can be improved Local market tastes/pref. ignored Choices and effectiveness diluted for global appeal Local regulations and restrictions For Global Against HED 460

  20. Cyberbranding • Strong brand can provide powerful advantages, esp. initially • Branding is more complex • creating an experience that potential buyers interact with • Reach and interactivity are increased • Victoria’s Secret example HED 460

  21. Brand Extension • New products • Williams-Sonoma’s Pottery Barn catalog launched Pottery Barn Kids • L.L. Bean launched L.L. Home • New customers • Abercrombie & Fitch launched abercrombie • New formats • Avon to Avon.com, mall-based kiosks, Avon spa • Delia’s direct marketer, stores, Internet HED 460

  22. Brand Extension • New Channels • Starbucks, license with Kraft for supermarkets • New Businesses • Tesco now offers natural gas to customers • Nordstrom is into financial services HED 460

  23. Rational Branding • Something of value is given in exchange for information • Build your own…... HED 460

  24. Rational Branding HED 460

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