BRAND EQUITYBRAND IDENTITY PRODUCT LINE EXTENSIONS BRAND EXTENSIONS PRODUCT MIX DECISIONS
BRAND EQUITY BUILDING STRONG BRANDS
BUILDING STRONG BRANDS • BRAND STRENGTH= DIFFERENTIATION * RELEVANCE • BRAND STATURE=ESTEEM*KNOWLEDGE • ESTEEM BASED ON PQ • KNOWLEDGE –CUSTOMER NOT ONLY AWARE OF BRAND BUT ALSO UNDERSTANDS WHAT THE BRAND STANDS FOR.
BUILDING STRONG BRANDS • Higher Esteem than knowledge means brand has unrealized potential . • eg National Geographic,3 M. • Low Esteem with higher knowledge-more people know what brand stands for. • Exxon, MTV, Cigarette , Alcohol brands • Loosing penetration, serving market that has polarized opinion.
BUILDING STRONG BRANDS 1.Brand Identity-how you aspire to be perceived based on core identity while Brand Image is how you are perceived 2.Value Proposition-consider emotional and self expressive benefits as well as functional benefits 3.Brand position-part of Brand identity and Value proposition 4.Execution-communicate the Brand Identity and Position
BUILDING STRONG BRANDS 5.Consistency over time 6.Brand system-consistent and synergistic 7.Brand leverage-extend brands and develop co branding 8. Tracking Brand equity-awareness, perceived quality ,loyalty ,associations 9.Brand responsibility 10.Invest in Brands
Good Brands Help Build the Corporate Image
MULTI BRANDING STRATEGY When and why we should use ??
BRAND EQUITY / BUILDING • The Role of Sponsorship • The Role of Web • The Role of Personality • The Role of Non Media/Advtg
BRAND IDENTITY • Brand Identity-how you aspire to be perceived based on core identity • while Brand Image is how you are perceived
The Prism of Brand Identity • Physique- • Combination of Independent characteristics including Logo which may be either prominent or dormant ;it is the brand basis, is a necessity, forming only the first stage in brand construction . Physical Features of a Brand -Associations eg Asian Paints- Gatoo Air India– MAHARAJA, Mercedez Logo
The Prism of Brand Identity • Personality- • Each Brand has personality. It acquires a character. We identify the brand with a person; we gradually form a picture of that person by the in which he speaks of products or services. The easy way to bestow personality on a brand is to provide it with a spokesperson, a star, or an animal. Advtsg Firm Euro RSCG make Physique & Personality ,two major pillars of Brand Communication Eg Provogue jeans Binami Cements
The Prism of Brand Identity • Culture– INTERNAL • The brand has its own culture from which every product derives. It implies a system of values ,a source of inspiration and brand energy. • A Basic principles governing the brand in its outward signs (product and communication) • Apple-the product of California culture ,symbolizes new frontiers • Mercedes personifies German values, with order strength prevailing. • The three box bodywork and overall symmetry • Adidas –embedded in collective culture ( sports ,soccer) while Reebok’s or Nike’s highlighting virtues of Individualism • Coca cola- American ,Toyota –Japan, Evian French Culture
The Prism of Brand Identity • Relationship ---brand is a relationship. It often provides the opportunity for an intangible exchange between persons; esp in service sector • EXTERNAL
The Prism of Brand Identity • Reflection—A brand reflects customer’s image ,the target audience image
The Prism of Brand Identity • Self image-customer’s self image • Is the target’ own internal mirror.
BRAND REINFORCEMENT STRATEGIES • AND • BRAND REVITALIZING • STRATEGIES
BRAND EQUITY & • MEASUREMENT OF BRAND EQUITY
Brand Equity Measure 1.Refelect Brand Equity, tap full scope of BE. • AWARENESS,PERCEIVED QUALITY,LOYALTY,ASSOCIATIONS 2.Reflect the Asset value ,focus on sustainable advantage not easily duplicated by competitors • Truly drives the market ie price, sales and profit • 3. Sensitive • 4. Can be applied across brands, product categories and markets
INTERBRAND’S TOP BRANDS • LEADERSHIP • STABILITY • MARKET –GROWING OR STABLE SALES • INTERNATIONAL • TREND- SALES OF BRAND • SUPPORT- INVESTMENT • PROTECTION- LEGAL TM
TOP 10 BRANDS • COCACOLA • Kellog’s • Mc Donald’s • Kodak • IBM.
PRODUCT MIX DECISIONS • PRODUCT LINE EXTENSIONS • BRAND EXTENSIONS
PRODUCT MIX WIDTH The concept of product mix and product line depth applied to selected Procter & Gamble products.
Product related Extensions • Colgate –Tooth paste—Tooth brush • Prestige cooker-Non stick ware • Nirma Detergent powder-cake • Frooti Parenthood brand launching various versions • Cinthol moving to Talc from toilet soap • Zodiac Belt from shirts, Ties -?
Product related Extensions • More options to consumers cinthol • Cornering more retail shelf space • Creating some excitement around an old brand • Extending core promise to new users- Ariel super soaker • Managing changed market situation-Colgate Gel to fight Close up
Line Extension • Up gradation of Existing customers • Unfulfilled Need • Novelty • Ponds Magic ,Nirma Cake, Life buoy Plus