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Summary The concepts of Brand management
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Overview of all the concepts of Brand management in tables and summarize the lecture 4
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Concept Definition Why is it important Theory behind it How it is createdBrand Brand strategy - Customers are not fully Corporate brand-> family brand -> Design principles:
Hierarchy behind aware the whole product individual brand -> individual item 1. Principles of
relationship portfolio Important decisions: simplicity
between - Some products perform Number of level of hierarchy to use/ 2. Principles of
various parts better than others Combination of brand elements from the clarity
of a business - New brand acquisition level of hierarchy/ Linking brand elements 3. Principles of
- New product/ service from different level/ Desired brand relevance
launch awareness and image at each level 4. Principles of
- Improve equity Brand architecture spectrum differentiation
- Improve visibility& - Branded house 5. Principles of
reputation - Sub-brand prominence
- Endorsed brand 6. Principles of
- House of brands communality
Brand Using the Brand extension has higher 1. Line extensions Empirical findings:
extensions leverage of a conversion rate/ survival rate and 2. Category extensions See summary
well-known higher customer loyalty rate
brand in one 1. Same product in different form
category to Facilitate new product acceptance 2. Distinctive taste, ingredient or
launch a new (+) component (cola zero)
product Provide feedback to the parent 3. Companion product (printer/ink)
company (+) 4. Customer franchise (check)
Complicate new product attribute 5. Expertise
(-) 6. Benefit, attribute feature
Bounce back to parent brand (-) 7. Designer or ethic image
, Brand alliance Agreement Advantage: A) Ingredient branding= long-term Empirical findings:
between Leverage secondary brand vertical bonding with provider of Consumer are triggered
2(+)individual associations component, material or service by primary brand
brands, where Combine strength to increase and provider of final product Combining high quality
products or equity (same, category, other brand) will always give higher
other related Instant expertise and knowhow B) Co-branding: multiple brand name rating
assets with Penetration to new market on a product Attitude towards brand
objective to Reduce/ share costs and increase 1) Same-company co-brand: alliance can influence
raise WTP (Unilever) impression of each
awareness in Disadvantage 2) Joint venture co-branding effect
the market in Sharing unique knowledge and Going abroad; alliance
in the minds of skills with local brand
the consumer Damage reputation of stronger Self-branded > co-
brand branded= more
Lack (loss) of control favourable evaluation
Weaker management skills
Liability when partner does
something wrong
Brand Anything 1. Process and retire 1. Strength of BA (salience) - Internal salience
associations linked in the information 2. Favourability BA (valuation - External salience
memory to the 2. Differentiate and position (positive nodes) a) Perceptual
brand brands 3. Uniqueness BA (POD’s) salience
3. Purchase reason b) Social salience
4. Transfer of knowledge and Brand evocation
feeling (unconscious)
5. Basis for extension Brand imagination
(conscious)
Source of Uniqueness:
Product, category,
product characteristics/
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