Samenvatting - International Brand Management (MAN-MMA035A) (Radboud University)
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Course
International Brand Management (MANMMA035A)
Institution
Radboud Universiteit Nijmegen (RU)
This summary includes all topics covered during the courses in the International Brand Management course. Studying this summary resulted in my exam getting a 7 out of 7.
Kotler (2002): “a brand = a seller’s promise to deliver a specific set of
features, benefits and services consistent to the buyers”
Why brands matter (advantages for consumers)
- Consumers need risk reduction
- Consumers need simplification
- Consumers want to express themselves
Advantages of brands for companies
- Means of identification
- Customer loyalty
- Price premiums
- Predictable demand
- Robust to competitive actions
- Yield licensing opportunities
- Growth potential (e.g., via brand extensions)
Increase revenues & reduce costs → increase value
- Increase communication effectiveness
- Stronger support from supply chain partners
- Stronger support from search engines
Today a brand is
→ “a name, term, sign, symbol, design, or a combination of them”
→ intended to identify the products of a seller
→ and to differentiate them from those of competitors
(AMA definition)
,Product
+
‘unique’ name, term, sign, symbol, or design
+
Associations
(cognitive & affective)
= A brand is a perceptual entity
Brands are created in the mind,
While products are created in a factory or by employees
Key theoretical perspectives in the Branding Literature
(Swaminathanet et al, 2020)
- Firm perspective
Views brands as assets and examines the various functions and
roles that brands serve for firms, both strategically and financially
- Consumer perspective
Views brands as signals (economic approach) and mental
knowledge cues (psychological approach)
- Society perspective
Presents brands in societal and cultural contexts, affecting
individual consumers both directly and indirectly through social
forces, structures, and institutions
Branding makes a difference → branding matters
,Consumer-Based Brand Equity (CBBE)
“The differential effect of brand knowledge on consumer response
to the marketing of a brand” (Keller, 1993)
→ the value that brands adds to products
Consumer-based brand equity
- Differential effect
- Brand knowledge
- Consumer response to marketing of a brand
Concept of brand equity
- Stresses the importance of the brand in marketing strategies
- Is defined in terms of the marketing effects uniquely
attributable to the brand
Brand equity relates to the fact that:
Different outcomes result in the marketing of a product/service
because of its brand name, as compared to if the same
product/service did NOT have that name
, Associative Network Theory
(How we process information)
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