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Brand Management

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Brand Management

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  1. Brand Management

  2. What is a brand? A brand is a name, term, sign, symbol, design or a combination of the above to identify the goods or service of a seller and differentiate it from the rest of the competitors

  3. When you cannot do this The product is a commodity

  4. A brand comprises of • Tangible attributes • Intangible attributes

  5. Tangibles Eg. • Product • Packaging • Labelling • Attributes • Functional benefits

  6. Intangibles Eg. • Quality • Emotional benefits • Values • Culture • Image

  7. Brand Identity It is the marketer’s promise to give a set of features, benefits and services consistently

  8. Brand Building Involves all the activities that are necessary to nurture a brand into a healthy cash flow stream after launch

  9. What kind of activities? Eg. • Product development • Packaging • Advertising • Promotion • Sales and distribution

  10. Brand Equity When a commodity becomes a brand, it is said to have equity

  11. What is brand equity? • The premium it can command in the market • Difference between the perceived value and the intrinsic value

  12. What happens when equity increases? Commodity Brand Power Brands Presence + Personality

  13. What happens when brands have high equity? • The company can have more leverage with the trade • The company can charge a premium on their product • The company can have more brand extensions • The company can have some defense against price competition

  14. Brand Loyalty Pyramid Committed buyer 111 Likes the brand. Considers it a friend Satisfied buyer. Would incur costs to switch Satisfied buyer/no reason to change Switchers/Price sensitive

  15. How does one build brands? • Distinguishing it from others – value proposition • Brand promise must match brand delivery

  16. The value proposition • Broad positioning • Specific positioning • Value positioning

  17. Creating the brand • Choosing a brand name • Develop rich associations and promises • Managing customer brand contact to meet and exceed expectations

  18. Considerations in choosing a brand name • What does the brand name mean? • What associations / performance / expectations does it evoke ? • What degree of preference does it create?

  19. Product benefits Product quality Names easy to remember, recognise, pronounce Product category Distinctiveness Should not indicate poor meanings in other markets or languages A brand name should indicate

  20. Brand Associations • ‘owned word’ • Slogans • Colours • Symbols and logos

  21. Brand Status E S T E E M Step up advertising Cash Cow.Need to Sustain brand building activities Troubled brand Product upgradation required New Product Or Product should be phased out FAMILIARITY

  22. Brand ambassadors • Giving a face and personality to the brand that is expected to be rubbed off from the brand ambassador

  23. Brand Vitality • Differentiation in consumer’s need • Differentiation relevant to consumer’s need

  24. Brand Pitfalls • Brand experience must match brand image • Calls for managing every brand contact