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Complete summary Brand Management 2022 - Msc Marketing Management
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Complete summary of all lectures of Brand Management 2022 - Msc Marketing Magement
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Summary Brand Management lecturesLecture 1
Brand Management; the past Q: how do I get a buyer to prefer and buy my commodity?
- Undifferentiable by seller/manufacturer. Quality highly variable.
A: Differentiate it from competition and make it more attractive.
How? By Branding your ‘commodity’
Brand: a name, term, sign, symbol or design or combination of them, intended to identify
the goods and services of seller(s) and to differentiate them from those of competition.
a brand creates meaning, reputation, preference in the eye of customer.
The present; perspectives
4 levels of products (Levitt)
1. Core product
2. Tangible product; the core product, but include something extra
3. Augmented product; includes core and tangible, but also something else
4. Total product; you can decide. It is customer defined.
From organization POV to customers
POV
From physical to Psychological (benefits)
product.
Brand: a product, but one that adds other dimensions that differentiate it in some way from
other products designed to satisfy (the same) needs.
valued differences can be: 1. Rational and tangible (perfect cut, finest cotton), but often
are 2. Intangible, emotional (stylish, comfortable, status) 90% are intangibles in 2020!
! Branded Product: a product that has been given a name for identification purposes
,!When there are associations with a certain logo/name, it is a brand. (Apple PC)
!When there are no associations with a certain logo/name, it is a branded product. (Joe PC)
Use the brand the expand to leverage the knowledge/associations from one product
category to another product category (porsche car porsche shoes / kitkatBar kitkat ice)
When the core product is the same (water), but customers pay less for branded product
(Jopie Water) and more for the brand (Evian Water). Brand Equity.
Why are Brands important?
1. Consumers: identifications of source of product, risk reducer, search cost reducer,
symbolic device, signal of quality.
2. Producers: source of financial returns, competitive advantage, endowing products
with unique associations, signal of quality, legally protecting unique features, means
of identification to simplify handling.
Customer-Based Brand Equity CBBE = 1. differential effect that 2. brand knowledge has on
3. consumer response to the marketing of the brand.
a brand has positive CBBE when customers react more favorably to a product and the
way it is marketed when the brand is identified that when it is not.
Goal of CBBE = build, sustain and leverage positive, strong, active, unique meanings of the
brand
Goal of Financial based brand equity (FBBE): to enable the brand to earn more money
Can everything be branded? Yes
1. Physical Goods: FMPCG; almost 100% is branded. But also B2B products, creating a
positive image and reputation for a company. (Boeing) High-Tech products; financial
success no longer driven by product innovation or product specifications (Intel)
2. Services: like VISA, Deloitte, EY, PWC, PayPal. brand symbols to attract good staff.
3. Retailers & Distributors: generate consumer interest and loyalty in store. Prive label
brands Albert Heijn.
4. Online Product & Services; improving customer associations because unique product
attributes of the brand (price, convenience) are not enough (Google invests in Brand)
5. People & Organizations
6. Sports, Art, Entertainment: Experience goods (Disney, Pixar)
7. Geographic Locations
8. Ideas & Causes
,The future of brand management; challenges and opportunities
1. Savy Customers: it’s difficult to persuade the more experienced consumers with
traditional communications
2. Brand Proliferation: more complex brand families and portfolios, few mono product
brands (Nestle got lots of sub-brands). Easier to leverage brand to other product
categories, but also big risk. If the brand is bad in the news.
3. Media Fragmentation: firms spend more on nontraditional media (social media)
4. Increased costs: NP-intro. Existing product support.
5. Increased competition: more difficult to differentiate
- demand side: mature markets (developing markets)
- supply-side: brand extensions / globalization low priced competition (PL)
6. Greater accountability: short-term performance orientation / increasing job turnover.
EXAM! Know The Process of Brand Management ( Business Vale Chain )
Take small steps to
be better in control
= management
6 Deadly Sins of Branding
1. Brand Memory Loss: occurs when a venerable, long-standing brand tries to create a
radical new identity New Coke
2. Brand Egoism: brands sometimes overestimate their capability. Polaroid. Also
when a brand enters a new market for which it is clearly not suited Harley
Davidson entering perfume market.
3. Brand Deception: some brand see the whole marketing
process as an act of covering up the reality of their
product. Yakult (same as yoghurt)
4. Brand Fatigue: some companies get bored with their
own brands. (Nokia)
5. Brand Paranoia: this is the opposite of brand ego and is
most likely to occur when brand faces higher
competition. tendency to file lawsuits against rival
companies. (Edah supermarket)
6. Brand Irrelevance: when market radically evolves, the
brands associated becoming irrelevant. (Pentax)
, Topic 2 Brand Identity and brand positioning
Know differences between brand identity and brand image.
Brand identity: what do you want your customer to think about when they see your brand.
Know this circle
1. Develop strategy
2. Execute tactics
3. Analyze customers
Aspects of Branding:
Brand Identity: how strategists want the brand to be perceived
Brand positioning: the part of the brand identity and value proposition to be actively
communicated to a target audience.
Brand image: how the brand is actually perceived
There can be a mismatch between identity and image
Why do we need a brand identity?
For the customers: No one wants to do business with ‘a nothing’. You need to be known for
the customer.
For the company: easier to make suited ads. And if certain things (like launching a new
product) will hurt or help your brand. To remain true to itself.
What exactly is brand identity?
- what is the vision and aim for the brand, what makes it different, what are values, what
need it the brand fulfilling, what is its permanent nature, what are sign to recognize?
Brand Identity: The unique composition of physical, social and psychological components of
a brand intended to identify its crucial, enduring and distinctive position in customer minds
How can Brand Identity be build? know these aspects and components for examples.
For example; a Alfa Romeo car
is central (same wheels and
grill) and distinctive (unique
design) and enduring (always
same design)
Hornbach: distinctive in
advertising.
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