Module II: Building Brand Physique: • Choosing Brand Elements • Building Brand Equity: • Design Marketing Programs • Integrating Marketing Communications • Leveraging Secondary Brand Knowledge
Brand Names: for Brand Awareness & Brand Associations • Descriptive – Singapore Airlines, FEDEX • Suggestive – suggests a benefit or function –Head & Shoulders, Moov, Aquaguard, Sugar Free • Classical – based on Greek, Latin or Sanskrit words-UVeda, • Arbitrary – no relationship with the company/Product – Aliva
Good Brand Name: • Easy to remember and pronounce • Invokes positive association • Suggests a positive image • Reinforces product concept • Communicates product benefits & Promise • Says something about the user • Avoids linguistic traps • The Coca-Cola name in China was first read as "Kekoukela", meaning "Bite the wax tadpole" or "female horse stuffed with wax", depending on the dialect. Coke then researched 40,000 characters to find a phonetic equivalent "kokoukole ", translating into "happiness in the mouth.“
Brand-Name Decision: • Individual Names:Hajmola, Pudin Hara • Blanket Family Name: TATA (for some businesses) • Separate Family Name: Raymond (for clothes, blanket), Park Avenue (for ready-mades, toiletries) • Corporate Name + Individual Product Name:Bajaj Discover, HeroHonda CT 100
- Logos and Symbols • - Characters: • - Benefits • - Cautions • - Slogans • - Benefits • - Designing Slogans • - Updating Slogans • Jingles • Packaging • - Benefits • - Package design • - Packaging changes
Logo: some stories: • This logo suggests an ‘Eve Code’ derived from the biblical story of Adam and Eve • The logo shows and apple that has had a bite taken from it, thus reinforcing the link between the logo and the ‘Eve’ story • Tries to communicate that it will provide forbidden knowledge to those who buy and use its products • The creator of the logo, Rob Janoff of Regis McKenna Advertising, denies any intent to connect the logo to the story…. ‘I put the bite in there in order to ensure that the figure was not interpreted as a ‘tomato’…
Logo: some stories: • 1. Rabbit= Female =highly fertile= sexually active=promiscuous • 2. Rabbit= Friendly= Reassuring • 3. Bow Tie= Elegance = night club scene = finesse
Brand’s Genetic Code: BRAND DNA Every great brand has substance. a brand’s DNA is timeless. a brand’s blue print is a unique set of values that originally defined them. Great brands can remain relevant through creativity. A brand’s DNA is not strictly about the product, service, the past or even about research -- its about tapping in to an essence or story that defines who you are to the people that matter most, your core customers. What Do You Stand For? Nike: Authenticity, Performance,Inspirational
Brand Vision Brand Vision LIFTS the Brand above the mundane and functional Appeals to Expressive and Central VALUES Process creates a bond with the consumer, and hopefully, long-term loyalty
4 steps of brand building • Ensure identification of the brand with customers and an association in their mind with a specific product class or customer need. • Establish the totality of brand meaning in the minds of customers. • Elicit the proper customer responses to this brand identification and meaning. • Convert brand response to create an active loyaltyrelationship between customers and the brand.
Criteria • Memorabiltiy • Easily recognized • Easily recalled • Meaningfulness • Descriptive • Persuasive • Likeability • Fun and interesting • Rich visual and verbal imagery • Aesthetically pleasing • Transferability • Within and across product categories • Across geographic boundaries and cultures • Adaptability • Flexible • Updateable • Protectability • Legally • Competitively
Branding Models Company dominates Brands Company is equal to Brands Brands dominate the Company American Express (cards) BMW (Motorcycles) Colgate (Total toothpaste) Disney (Films) General Electric (appliances) IBM (Technology) L’Oreal (Cosmetics) Sony (Electronics) Chrsyler = Jeep Maggi= Nestle Kraft = Maxwell House PepsiCo = Mountain Dew Time Warner = Warner Bros 3M = Scotch Tape Claridge Hotel(Savoy) Crest (P&G) Boroline (G D Pharma) Safola(Marico) Kleenix (Kimberly-Clark) Marlboro (Philip Morris) MCA Records (Universal Studios) Wranlger (VF Jeans)
Experiential Marketing • Focuses on customer experience • Focuses on consumption situation • Views customers as rational and emotional animals • Uses eclectic methods and tools
Permission Marketing • Offer the prospective an incentive to volunteer • Offer the interested prospect a curriculum over time, teaching the consumer about the product or service being marketed • Reinforce the incentive to guarantee that the prospect maintains the permission • Offer additional incentives to get more permission from the customer. • Over time leverage the permission to change consumer behaviour towards profit.
Relationship Marketing • Product strategies must transcend actual product or service to create stronger bonds with customers and maximize brand resonance • Why, because • Acquiring new customers is costlier than servicing and retaining current customers. • The avg company loses some % of it’s customers every year • The customer profit rate tends to increase over the life of the retained customer.
Perceived Quality and Value • Perceived Quality has been defined as customers perception of overall quality or superiority of a product or service relative to relevant alternatives and with respect to its intended purpose. • Performance • Features • Conformance quality • Reliability • Durability • Serviceability • Style and design
Perceived Quality and Value • Brand Intangibles are equally important • Speed , accuracy and care of product delivery & Installation • Promptness • Courtesy • Helpfulness of customer service • Training • Quality of repair service
Pricing Strategy • How do customers categorize the price of the brand (High, Low, Medium) • How firm or flexible do the customers see the price (Magnitude and frequency of discounts)
Channel Strategy • Direct and indirect channels • Trends • Growing strength of the retailers and retail brands • Channel support provided by members • Growing competition for shelf space • Dependence on channel members for either push or pull strategies.
Leveraging Secondary Brand Knowledge to Build Brand Equity Brands may be linked to other entities that have their own knowledge structures in consumer minds Means of reinforcing existing associations in a fresh and different way very important aspect if the existing brand associations is deficient in some way
Linking the brand to the Company Existing brands may be related to the corporate brand or a specific product brand. A corporate brand may evoke associations of common product attributes, benefits, attitudes, relationships, values etc. Hence a corporate brand can be a source of much brand equity.
Linking the brand to the country of origin and other geographic areas Many countries have become known for expertise in certain product categories. Image of the products from those countries. E.G. – German car, Japanese CD player, Foster’s beer. Italian Shoes, Swiss Watches In domestic market, patriotic appeals is the basis of marketing strategies. Debate between Soul and Body of the brand??
Linking the brand to Distribution Channels Image of the distribution channels in consumer minds Retailers create these associations through the products and brands they stock, the way of selling etc. E.G. – Sears, Wal-Mart have an distinctive image over other retail stores.
Linking the brand to Co-Branding A product can be uniquely and convincingly positioned through multiple brands. Also reduction in the cost of product introduction Consumer expectations about the level of involvement and commitment are high. Also risks and lack of control. A logical fit of values, capabilities, goals and brand equity is very much necessary for success e.g. – Co-Branding of Fisher Price and Compaq, Disney and McDonald’s
Ingredient Branding Creating brand equity for materials, components or partsnecessarily contained within other branded products Ingredient brands can become a category point of parity; e.g. – Singapore Airlines
Linking the brand to characters (Licensing) Firms use names, logos, characters etc of other brands to market their own brands Shortcut means of building brand equity Corporate trademark licensing Danger of over exposure of the brand entity of dilution meaning e.g. - Disney licensing its characters to appear on quality merchandise, also successful movie titles like Jurassic park, Lion King etc.
Celebrity Endorsements Expertise, trustworthiness, likeability, attractiveness, relevance to the product The celebrity should not be over exposed The advertising and communication program should be creative, e.g. – Richard Gere featured in the Visa ads, David Beckham & Thierry Henry in Pepsi etc.
Linking the brand to events Events have their own set of associations that may be linked to sponsoring brand Being linked to an event, Brand image may be enhanced through new associations and brand awareness. e.g. – Castrol Racing championship, F1 Sports.
Linking the brand to Third Party Sources Third party sources are generally seen as credible sources These sources can also have an effect at a more local level, e.g. – Pharmaceutical companies ask doctors to prescribe their drugs