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Samenvatting Brand Management D0R42a
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Summary: Brand Management at KULeuven, written in , course taught by A. Edeling Code: D0R42a
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Table of ContentsChapter 1 : What is a brand and why do brands matter?....................................................4
Defining brands............................................................................................................................4
Product centered definition of brands............................................................................................................4
Types of trade marks that can be registered..................................................................................................4
Trade marks must be distinctive and must not describe what is sold............................................................4
Trademark registration gone wrong (own experience of prof)......................................................................5
What happens if a brand becomes generic?..................................................................................................5
Types of trademark threats.............................................................................................................................5
Customer centered definition of brands.........................................................................................................6
Brands versus products.................................................................................................................6
Brands influence consumers’ perceptions and preferences...........................................................................6
Brand functions............................................................................................................................7
Overview of consumer benefits......................................................................................................................7
Overview of brand functions for companies..................................................................................................7
How do brands lower risk?.............................................................................................................................9
Brand relevance in categories.......................................................................................................9
Overall results of a data collection.................................................................................................................9
Most important determinants of BRiC.........................................................................................................11
Development of BRiC over time...................................................................................................................11
Chapter 2 : The concept of brand equity...........................................................................12
Conceptualizing brand equity.....................................................................................................12
Brand knowledge is stored in associative networks....................................................................12
CBBE components : Brand awareness.........................................................................................13
Why does brand awareness matter?............................................................................................................13
Consideration advantages : The ‘Set Theory’ of consumer decision making...............................................13
CBBE components : Brand image................................................................................................14
Types of brand associations..........................................................................................................................14
Favorability of brand associations................................................................................................................15
Strength of brand associations.....................................................................................................................15
Uniqueness of brand associations................................................................................................................15
Measuring brand equity.............................................................................................................15
Brand as key financial assets.........................................................................................................................15
Measuring nonmonetary and monetary brand equity.................................................................................16
Components of measuring brand equity......................................................................................................16
Determining brand earnings.........................................................................................................................16
Determining future brand earnings (forecasting).........................................................................................18
The brand value chain.................................................................................................................20
Financial brand value chain..........................................................................................................................20
Chapter 3 : How to build and manage strong brands........................................................21
Understanding the brand environment : The active consumer...................................................21
New role of the consumer............................................................................................................................21
Social media firestorm as a new, digital form of brand crises......................................................................22
Brand Positioning.......................................................................................................................22
Brand identity vs. Brand image.....................................................................................................................22
Selecting a Brand Positioning........................................................................................................................24
, Brand elements..........................................................................................................................24
Goals and criteria for choosing brand elements...........................................................................................24
Brand name...................................................................................................................................................24
The effect of facial expressions in product design........................................................................................25
Selected marketing mix strategies..............................................................................................25
Product strategy............................................................................................................................................25
Pricing strategy.............................................................................................................................................28
Distribution strategy.....................................................................................................................................29
Communication strategy...............................................................................................................................31
Chapter 4 : Brand Portfolio Management.........................................................................33
Leveraging brand associations....................................................................................................33
Leveraging associations : PEOPLE.................................................................................................................34
Leveraging associations : THINGS.................................................................................................................34
Leveraging associations : PLACES..................................................................................................................35
Leveraging associations : OTHER BRANDS....................................................................................................35
Brand integration strategies........................................................................................................35
Strategic ways to develop brand portfolios..................................................................................................35
The nature of brand extensions....................................................................................................................36
Opportunities of using brand extensions.....................................................................................................36
Risks of using brand extensions....................................................................................................................36
Brand extension FIT (between parent brand and brand extension).............................................................37
Types of brand extensions............................................................................................................................37
Direction of the extension............................................................................................................................38
Brand alliance strategies.............................................................................................................38
Different types of brand alliances.................................................................................................................39
Success factors of brand alliances...............................................................................................40
The final brand architecture........................................................................................................40
Importance of brand architectures...............................................................................................................40
Three generic strategic branding options exist.............................................................................................41
Structuring the brand architecture...............................................................................................................42
Corporate brands / branded house..............................................................................................................43
Chapter 5 : Retail branding...............................................................................................44
Relevance of brands for retailers................................................................................................44
Brands need retailers and retailers need brands..........................................................................................44
Private labels.................................................................................................................................................44
Chapter 6 : Emerging topics in Brand Management..........................................................47
Brands, Purpose, CSR and CSA....................................................................................................47
Studie : The impact of corporate social responsibility on brand sales: An accountability...........................47
Perspective....................................................................................................................................................47
Study : Corporate Sociopolitical Activism and Firm Value............................................................................48
Study : The commercial consequences of collective layoffs: Close the plant, lose the brand?...................49
Brands and personal wellbeing...................................................................................................49
Study : Connecting to place, people, and past: How products make us feel grounded...............................49
Study : Company Worth Keeping: Personal Control and Preferences for Brand Leaders............................50
Brands, social media and influencer marketing...........................................................................51
Study : Improvised marketing interventions in social media........................................................................51
What are influencers? What is influencer marketing?.................................................................................52
Study : Finding Goldilocks Influencers: How Follower Count Drives Social Media Engagement.................53
Study : How, Why, and When Disclosure Type Matters for Influencer Marketing.......................................54
,Brands and artificial intelligence.................................................................................................55
Relationship between AI and machine learning (ML)...................................................................................55
Different types of ‘learning’ in AI/ML...........................................................................................................55
Study : A Strategic Framework for Artificial Intelligence in Marketing.........................................................56
, Brand Management
Chapter 1 : What is a brand and why do brands matter?
“A brand for a company is like a reputation for a person. You earn reputation by trying to do
hard things well.” - Jeff Bezos
(Brand solves consumer problems)
(well = in a way that it doesn’t cost the customer a lot of money)
Defining brands
Product centered definition of brands
- A trade mark is a sign used to identify goods/ services
- It identifies one seller’s goods or services as distinct from those of other sellers.
- A trade mark can be protected by registration (e.g., EU trade mark)
Types of trade marks that can be registered
Ex. Timeline for adidas word mark started in 2001 and was only registered in 2003 (a lot
of procedures between them) in 2022 it will be expired
Trade marks must be distinctive and must not describe what is sold
Distinctive : consumer should be able to
recognize your sign for what it is, it should
distinguish you from other companies in the
marketplace so you can protect and build your
brand identity and value
Should not describe what you sell : not only
describe the good you sell or offer, this should
remain available for everybody (you and your
competitors)
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