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Short and easy summary of the Brand Management theory
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By: davieklein1 • 2 year ago
By: estherwesting • 3 year ago
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Topic 1: BrandmanagementBrand = name, term, sign, symbol or combination of those to identify a goods and services from
his/her competitors.
Products
Brands are not the same as products, a product consists of:
- Core product: Functionalities (kern product)
- Tangible product: Everything you can observe with senses (tastbaar product)
- Augmented product: Additional services e.g. warranties (uitgebreid product)
- Total product: All of the above, but also other added values (feeling special)
Organizational point of view: Core, tangible and augmented product
Customer’s point of view: Total product
Brands
Brands are intangible assets that have become the key source of corporate value.
Product Brand
Tangible Intangible
Can be copied Unique
Can be outdated Timeless
Transactional Connections
Values
Customer value: Difference between what consumer gets and what he/she has to give
Gains: All benefits
Pains: All cost, time and effort
Value proposition: Promise of value to be delivered
Gain creators: What will produce value for the customer
Pain reliever: What will reduce the pains for consumers
What can be branded?
- Physical goods
- Services
- Retailers/distributors
- Online products/services
- People and organizations
- Sports, arts, ect.
- Geographic locations
- Ideas and causes
Branding challenges
- Savvy customers: Difficult to convince more experienced customers
- Brand proliferation: Few mono brands, easier to copy brand to other categories
- Increased costs: High development cost (as a result, team up: Peugeot 107)
- Global competition: Difficult to differentiate (D: mature market, S: private labels)
- Accountability: Short term orientations
,Customer based brand equity
What differences influence knowledge and change consumer behavior, elements:
1. Differential effect
2. Brand knowledge
3. Consumer response
Strategic brand management process
1. Identify and establish brand positioning and values (plan)
a. Positioning: occupy a distinct and valued place in consumer’s mind
2. Strategy and planning of marketing campaigns (do)
a. Extensions, alliances
b. Brand elements
c. Associations
3. Measure and interpret performance (check)
a. Brand image: consumer perception of your brand
b. Brand attitude: positive and negative feelings toward brand
c. Brand equity
d. Laddering: means end chain
4. Grow and sustain brand equity (act)
a. Value chain
b. Brand equity
c. Nomological net
Deadly sins of branding
1. Brand memory loss: brand forgets what is stands for
2. Brand egoism: over-estimating their own importance and capability
3. Brand deception: cover up the reality (misleading)
4. Brand fatigue: getting bored of your own brand
5. Brand paranoia: opposite of brand ego, not seeing value (file lawsuits)
6. Brand irrelevances: market develops radically, stay ahead of category (photos)
, Topic 2: Brand identity and brand positioning
Brand image: Associations of one single brand in the mind of consumer
Positioning: A sum of multiple brand images
Aspects of branding
Brand identity: How strategists what the brand to be perceived
Brand positioning: How the identity and value proposition is actively communicated
Brand image: How the brand is actually perceived
Brand identity: Internal analysis
Unique composition of physical, social and psychological components of a brand that are intended
to identify its crucial, lasting and remarkable position in the consumer’s mind.
- Heritage Linking history to brand
- Personality and values Linking emotions to the brand
- Vision Dream about the future of the brand
Aspects Components
Central Physical
Enduring Psychological
Distinctive Social
Brand image: External analysis
- Identification (brand awareness)
- Qualification (associations)
Heritage components
- History
- Consistency
- Passion
- Leadership
Heritage sources
- People
- Firm
- Region and nation
Heritage effects
- Authentic
- Trustworthy
- Intimate
- Expert
Big five of personality
- Sincerity
- Excitement
- Competence
- Sophistication
- Ruggedness
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