Summary
Summary Glossary Brand Management
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All the important terms of Brand Management modules 1 to 6 in a clear overview. Module 5 clearly shows which methods/techniques you use per concept.
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Module 1 – Brand ManagementBranding Is used to differentiate from competition and make it more attractive.
Physical product Brand from the organizations’ point of view. The core, tangible and augmented product.
Psychological product Brand from the consumers’ point of view. The total product (including additional values like status).
Product Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a
want or need (tangible (vs. intangible), can be outdated (vs. timeless), can be copied (vs. not copied),
requires a transaction (vs. forms basis of connections)).
Organizations They have a value proposition. Brands are important for them because it is:
- Means of identification to simplify handling or tracing
- Means of legally protecting unique features
- Signal of quality level
- Means of endowing products with unique associations
- Source of competitive advantage
- Source of financial returns
Value Proposition A promise of value to be delivered and acknowledged, and a belief from the customer that value will be
appealed and experienced.
Customer They look at the customer value; whatever product has the best service, quality, status, least risk, most
convenience etc. Brands are important for them because it is:
- Identification of source of product
- Assignment of responsibility
- Risk reducer
- Search cost reducer
- Bond with maker of product
- Symbolic device
- Signal of quality
Brand Management The design and implementation of Marketing Programs to build, measure and manage brand equity.
Customer-Based Brand The effect of brand knowledge on consumer response to marketing of that brand. Is positive when
Equity response to marketing is more favorable when the brand is identified than when it’s not. Differences in
outcomes arise from ‘added value’ as a result of past marketing activities of the brand.
Financial-Based Brand Incremental cash-flow which accrue to branded products over and above cash flows which would result
Equity from the sale of an unbranded product.
Things that can be - Physical goods
branded - Services
- Online products and services
- Retailers and distributors
- People and organizations
- Art, sports and entertainments
- Geographical locations
- Ideas and causes
Future challenges - Savvy (smart) customers
- Brand proliferation
- Media fragmentation
- Increased costs
- Increased competition
- Greater accountability
Business Value Chain 1. Marketing program investment (product, communication, trade, (what firms do))
2. Consumer mindset (attitude, awareness, associations)
3. Market performance (price premiums, price elasticity, market share)
4. Shareholder value (stock price, P/E ratio, (what firms get))
Six deadly sins 1. Brand Memory Loss old brands trying a radically new identity, forgets where it stands for
2. Brand Egoism overestimating themselves, run into trouble when trying to enter new markets
3. Brand Deception covering up the reality, hard in the internet-era
4. Brand Fatigue getting bored of own brand, lack of sales and creativity
5. Brand Paranoia when there is a lot of competition, willing to reinvent the brand, imitate comp.
6. Brand Irrelevance not evolving with the market, gap between creativity and strategy
, Module 2 – Brand Identity
Brand Identity How strategists want their brand to be perceived. The unique composition of physical, social and
psychological components of a brand intended to identify it’s crucial, lasting and remarkable position in the
mind of the consumer.
Aspects of brand identity 1. Central what is the most important?
2. Enduring consistent displayed over time
3. Distinctive what makes you different?
Components of brand 1. Physical logo, brand name
identity 2. Social experiences, character, pov
3. Psychological spokesperson, category, relationship, users
Brand identity prism A hexagonal prism that represents 6 key elements that
make up brand identity:
1. Physique
2. Personality
3. Culture
4. Relationship
5. Reflection
6. Self-image
Brand heritage A set of symbols and values that reinforce the identity of the brand and express its anchoring in the past
and the continuity between past, present and future that characterizes the concept of heritage.
Brand authenticity Perception of the brands’ fidelity to itself and its consumers, responsible and able to help consumers
remain true to themselves.
Brand personality A set of human characteristics associated with a brand. It’s what makes your business human in eyes of
your potential customers. If your brand doesn’t have one, people have much harder time reaching the
conclusion that you are the one. Big 5 personalities:
1. Sincerity (honest, down-to-earth, wholesome Douwe Egberts, Disney)
2. Excitement (daring, imaginative, up-to-date Porsche, Coca Cola, Wendy’s)
3. Competence (intelligent, successful, reliable ABN AMRO, Google)
4. Sophisticated (upper class, charming Mercedes, Gucci, Rolex)
5. Ruggedness (outdoorsy, tough Levi’s, Nike, Timberland, Malborro)
Brand Values A set of guiding principles that shape every aspect of your business. It dictates your brand message,
identity and personality and affect the choices you make.
Core brand values A set of abstract associations that characterize the 5 to 10 most important aspects or dimensions of a
brand. Example: honesty, responsibility, respect, humility, teamwork, accessibility, education, environment
etc.
Brand Mantra An articulation of the heart and soul of the brand in a 3 to 5 word phrases that capture the irrefutable
essence or spirit of the brand positioning and brand values. Criteria: single focused message,
differentiation from competitors, evocation of customer experience, consistent delivery, representation of
the reality. Consists of 3 parts:
1. Brand function (performance)
2. Descriptive modifier (atlethic)
3. Emotional modifier (authentic)
Brand Vision The brand’s passionate dream about the future.
Brand Positioning The part of the brand identity and value proposition to be actively communicated to a target audience.
Brand positioning tries to form a frame of reference by identifying the target consumer and the main
competitors.
- Frame of reference
o Who is the target consumer (a brand from whom? What is that person? What are his
interests? Which brands does he purchase?)
o Who are the main competitors (a brand against whom?)
- POP’s and POD’s in brand associations
o How is the brand similar to these competitors?
o How is the brand different to these competitors? (what makes us special/unique?)
- Use and usage situation
o What is the brand promise and consumer benefit (a brand for what? For having fun?
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