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Branding

Branding. What is a Brand?. A Name A Symbol or a Mark A Promise A Reputation A Differentiator Something that resides in consumer’s mind. A perceptual entity rooted in reality. Brand.

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Branding

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  1. Branding

  2. What is a Brand? A Name A Symbol or a Mark A Promise A Reputation A Differentiator Something that resides in consumer’s mind. A perceptual entity rooted in reality

  3. Brand A brand is a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.

  4. Why are Brands Important? For Consumers: Source Identification Assign Responsibility Simplifies Product Decisions Reduction in Search Cost Risk Reducers Symbolic Devices to project Self Image Quality Assurance

  5. Why are Brands Important? For Firms: Simplify handling/identification/Inventory Unique Associations=>Differentiator Signal Quality Assurance Source of Competitive Edge Enables Price Premiums Ensures Corporate Goodwill & Returns

  6. What Can be Branded? Anything Provided Consumers are in a Choice Situations All except very basic commodities Over time many commodities have been differentiated to create brands.

  7. Brand Elements Brand Name Logos & Symbols Characters Slogans Packaging URLs

  8. Brand Elements • Different components of a brand that identify and distinguish it from others also called Brand Identities • Trademark Devices • Chosen to: • Enhance Brand Awareness • Generate positive feelings • Build greater brand equity

  9. Selecting Brand Elements Memorability Meaningfulness Likeability Transferability Adaptability Protectability

  10. Elaboration

  11. Brand Management-Terminology Brand Image: Current set of Associations Brand Equity: The Added value to the firm/investors/consumers with which a given brand endows a product Brand Awareness: Ability of the customer to recall and recognize the brand under different conditions

  12. Brand Management Process Four Steps- Identify & establish brand positioning and values. Plan & implement brand marketing programs. Measure & interpret brand performance. Grow & sustain brand equity.

  13. 1.Brand Positioning & Values What is the Brand? How is to be positioned? locating the Brand in Consumer’s mind Define Core Brand Values Brand Mantra / Brand Essence / Brand DNA Heart & Soul of the Brand

  14. 2. Brand Marketing Programs • Consumer Knowledge Building process • Three key Factors: • Initial Choice of the Brand Elements • Integrating Brand into Marketing Activities & Program

  15. 3. Brand Performance • Performance Measurement & Interpretation key to understand effects of Marketing Programs • Important Tools: • Brand Value Chain: Understanding the process of brand value creation and financial impact of Marketing Expenditure & Investment • Brand Equity Measurement System: Help in Tactical & Strategic decisions.

  16. 4. Brand Equity • Involves managing Brands in context of: • Other Brands • Over multiple categories • Over time • Across multiple market segments

  17. Brand Positioning The Heart of Marketing Strategy. Involves finding the proper “Location” in the minds of a group of consumers or market segment so that they think about a product or service in the “right” or desired way. Act of designing the company’s offer and image so that it occupies a distinct and valued place in the target consumer’s mind.

  18. Brand Mantra or Brand Essence Articulation of Heart & soul of the brand Short 3-5 word phrases capturing the spirit of brand positioning & values Powerful device: guidance on campaigns, product extensions, distribution etc May even influence Admn/Orgn decisions

  19. Designing Brand Mantra • Captures brand essence & core promise • Successful Examples: • McDonald’s: “Food, Folks & Fun” • Nike: “Authentic Athletic Performance” • Disney: “Fun, Family, Entertainment” • Note each can be broken into 3 terms: • Brand Function • Descriptive Modifier • Emotional Modifier

  20. End

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