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Brand

Brand. According to American Marketing Assoc., a brand is a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods or services of one seller or group of sellers and differentiate them from the competition.”. Branding.

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Brand

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  1. Brand • According to American Marketing Assoc., a brand is a “name, term, sign, symbol, or design, or a combination of them intended to identify the goods or services of one seller or group of sellers and differentiate them from the competition.”

  2. Branding …is about the consumer’s perceptions of the offering – how it performs, how It looks, how it makes one feel, and what message it sends Perceptions are nurtured by: 1. Market communications 2. Experiences

  3. Quotes on On-Line Branding • “Brands stand as comfort anchors in the sea of confusion, fear and doubt. In dynamic markets, strong brands have more value than ever, precisely because of the speed with which these markets move.” -- Chuck Pettis, Technobranding • “E-branding is more important [than e-commerce]. And it must come first. Because few people will buy your stuff -- on-line or off -- unless you are top-of-mind.” -- Annette Hamilton, Executive Producer, ZDNet • “It took more than 50 years for Coca-Cola to become a worldwide market leader, but only five years for on-line search engine Yahoo! to gain market dominance. The role of the brand has changed dramatically and has created a vacuum between off-line and on-line brands.” -- Mark Lindstrom, Executive Director ZIVO • “A company's web site IS the brand. It's the hub of consumer experience, the place where all aspects of a company, from its annual report to its products to its support, intersect. It's the company in a nutshell, all there in a way that just is not possible in the analog world.” -- Sean Carton, Carton Donofrio Interactive

  4. Brand is Essential Brand is Side-show • Flood of new entrants. Too many brands. Hence, need to build your presence. • Strong brands -- customers come to you vs. you chasing customers. • All winners currently have strong brands. • It is an “instant message” that contains a lot of associations. • Alliances lock-up the market. Considerably more important than brands. • Third-party evaluator sites decrease power of brand (e.g., bizrate.com). • But… we expect a lot of well-known brands will go “belly-up” (e.g. beyond.com, FreePC). • Speed is more important than brand. Need to build customer base. • Everything about customization. It is a “personal” brand experience. Do Strong Brands Matter On-Line?

  5. Four criteria for picking a good brand name: Key Brand Name Attributes:Relevant, Distinct, Consistent, Memorable Relevant: Describe product benefits Tidy bowl, glass plus, powerbook memorable, distinctive, positive Mustang, Pintos, Colts, Broncos A good brand name should . . . . Consistent: Fit the company or product image Sharp, Excedrin, IBM, PCjr

  6. The four criteria are also important in brand functionality: eBay vs. Amazon auctions (p. 534) • Relevant. • eBay brings together buyers and sellers • Amazon is relevant for books and CDs but not for auctions Distinct– eBay is almost a monopoly in brand association with auctions Amazon is distinctly associated with books and CDs– not auctions Consistent eBay – one category Amazon – lots of brand extensions Memorable Synonymous with e-auctions Synonymous with online book retail

  7. What is a good brand? • Good brands provide a clear message to the market about • 1. the core offering, • 2. the wrap-around, • 3. the communications. • All provide not only a signal about the functional offering, but they are simultaneously differentiated by their emotional, symbolic, and experiential benefits.

  8. What Is a Good Brand? • Mix of off-line and on-line advertising • Emphasizes advantages to AAdvantage memberships, including non-expiring miles and on-line services Marketing Communications “Wrap-arounds” • Superior service • AAdvantage frequent flier mile club • Award winning Admirals Club lounges • Comfortable chairs • Portable defibrillators on every flight CoreProduct /Service • Safe, on-time transportation from A to B Brand Prestige

  9. Components of Brand Equity: 1. Brand Awareness 2. Brand Association 3. Customer Benefits 4. Firm Benefits A good brand... … provides positiveconsumer responses... … and benefits both target customers and the firm BRAND AWARENESS • Depth (unaided recall, aided recall, recognition) • Breadth (what cues) CUSTOMER BENEFITS • Confidence • Loyalty • Satisfaction Market Communication “Wrap-arounds” CoreProduct /Service BRAND ASSOCIATIONS • Strength - intensity • Valence– pos./neg. • Uniqueness • memorable • distinctive FIRM BENEFITS • Reduce marketing costs • Increased margins • Opportunity for brand extensions Source: Keller (1996), Aaken (1996), Strategic Market Research Group, Marketspace Analysis

  10. Types of Brands Traditional Brands On-line Brands • The product / service with which the brand is associated was established offline in the bricks-and-mortar world Examples: • The Gap • UPS • Dell • McDonalds • OfficeMax • Coca-Cola • Disney • The product / service with which the brand is associated was established in the online world Examples: • Amazon • Yahoo! • AOL • Priceline • CDNow • E*Trade

  11. KEY BRANDING ELEMENTS • 1. Clearly define the brand audience • 2. Understand the customer • 3. Identify key leverage points in customer experience • 4. Continually monitor competitors • 5. Compelling & Complete Brand Intent (positioning) • 6. Execute with integrity • 7. Be consistent over time • 8. Establish feedback systems • 9. Be opportunistic • 10. Invest and be patient Value Cluster Integrated Campaign

  12. Similarities and Differences in Off-Line vs. On-Line Branding

  13. Similarities and Differences in Off-Line vs. On-Line Branding, cont’d

  14. New Brand Use Existing Brand • An existing brand name limits the size of the user base (Delta vs. Song) • A single company brand name cannot be the “objective, third party portal (I.e. Travelocity will attract more visitors as compared to AA.com) • Existing brands are less likely to “get it” (e.g. less usable interfaces) • Enormous amounts of time and money are necessary to build new brands • Customer understands and will respond to a known brand • Customer will understand the value of being able to use both on-line and off-line services interchangeably • Target customers will not be confused New Brand vs. Use Existing Brand

  15. www.aa.com

  16. CVc = very low = low = moderate = high = very high Key Branding Elements American Continental CV CV

  17. = very low = low = moderate = high = very high Key Brand Attributes Continental American Airlines

  18. Assessment of Key Branding Elements Monster.com Hotjobs.com

  19. Assessment of Key Brand Attributes Hotjobs.com Monster.com

  20. pp. 522-523 CBS MarketWatch vs. Bloomberg.com • See p. 532 for eBay vs. Amazon

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