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Brand management study guide
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Brand ManagementSession 1- Brands & Brand Management
*Read Keller articles
NB The Stages: Strategic Brand Management
(THINK: DDMGP Develop blue prints, design house and implement ideas, measure and interpret boards and
where they go, the house will grow and in turn sustain you and protect you)
Part I Opening Perspectives
Part II Developing a brand strategy
Part III Designing and implementing brand marketing programs
Part IV Measuring and interpreting brand performance
Part V Growing and sustaining brand equity
Part VI Protecting brand equity
Session two: Developing Brand Strategy NB: How do you develop a brand strategy?
● Customer-based brand equity
● Brand positioning
● Brand resonance
● Brand value chain
The “brand” concept NB:
What’s the definition of a brand?
How to create one?
Be able to differentiate between logo and symbol:
Brand = logo/symbol, Brand Equity = Value inherent to the brand - created by marketing efforts
● American Marketing Association defines a brand as a “name, term, sign, symbol, or design, or combination
of them, intended to identify the goods and services of one seller or group of sellers and to differentiate
them from those of competition”
● Technically if you create a new name, logo, or symbol for a new product, you have created a brand
● However, a brand is more than that: GOODWILL
● Components that identifies and differentiates/distinguishes brands from each other are called brand
elements
The “brand” concept
Brand naming strategies:
● Use company brand name for all products: Samsung
● New products get individual name, not related to company:
● Retailers create brand based on store name: Woolworth’s W collection
● People’s names: Annique cosmetics
● Places: University of Stellenbosch
● Animals or birds: Dove soap
● Other: Apple computers
● Inherent product meaning: Liqui Fruit
● Prefixes, suffixes that sound scientific, natural or prestigious: Lexus automobiles
Why are brands different from products
● A product is anything that can be offered to a market for attention, acquisition, use, or consumption that
might satisfy a need or want…
… but a brand is more than a product, because it can have dimensions that differentiate it in some way
from other products designed to satisfy the same need
, ● The differentiators may be:
o rational/tangible(clear)/intangible(unclear) and are related to how the product of the brand performs
or
o symbolic/emotional/intangible and are related to what the brand represents
o Competitive advantage by brand through performance: Apple
o Competitive advantage by brand through non-product related means (image): Coca-Cola
Why are brands different from products
OFFERING PRODUCT BRAND
Physical good Cereal Kellogg’s Corn Flakes
Service Airline Mango
Retail Outlet Department store Woolworths
Person Professional athlete Gary Player
Organisation Non-profit Helen Suzman foundation
Place Region Overberge
Idea Political/social cause SaveSA
Why are brands different from products
Ex. New coke and classic refer to article
Bianca’s answer:
New coke should never have been branded following the taste test experiments, because taste preference isn't the
only factor that goes into a purchasing decision; it is also based on habit, nostalgia, and loyalty. Coke is an identity
classification, and changing it fundamentally confused consumers identifications and relation to the brand
Coke provides continuity and familiarity and the change caused concerns of quality for both the firm and
consumers. New coke only focused on the physical taste aspect; however coke also has a symbolic significance to
buyers → people prefer tradition over novelty. Thus new coke should never have been branded for the above
mentioned reasons as well as it broke its bond and promise with consumers while preventing the firm from being
able to safely invest and reap the benefits.
Why are brands important...to consumers - NB: know one or two, be able to recognize them, know what it is
THINK: Why I would buy the product I know already, RIPS, Risk In Purchasing Shit: Risk reducer; Identification of
source of product; Promise, bond, or pact, Signal of quality
● Identification of source of product
● Assignment of responsibility to product maker
● Risk reducer
● Search cost reducer
● Promise, bond, or pact with maker of product
● Symbolic device
● Signal of quality
Why are brands important.. To consumers NB: be able to recognize FFPPST
Brand simplifies decision-making and reduces risk…
● Functional risk: product does not perform up to expectations
● Physical risk: product poses threat to physical well-being or health of the user or others
● Financial risk: product is not worth the price paid
● Social risk: product results in embarrassment from others
● Psychological risk: product affects the mental well-being of the user
● Time risk: failure of the product results in an opportunity cost of finding another satisfactory product
,Why are brands important...to firms (1) NB: to recall and recognize
● Means of identification to simplify handling or tracing
● Means of legally protecting unique features
● Signal of quality level to satisfied customers
● Means of endowing products with unique associations
● Source of competitive advantage
● Source of financial returns
Why are brands important...to firms (2) NB:
Recall and recognition; know where it fits in; helps to understand other questions; How to protect trademarks
copyright design...
Intellectual property rights = legal title to brand owner
● Protect brand name with registered trademark
● Protect manufacturing process through patents
● Protect packaging through copyrights and designs
Enables firm to safely invest in the brand and reap the benefits of a valuable asset
What can be branded?
Virtually anything…
● A brand is something that resides in the minds of consumers
● It has meaning to consumers
● Enables consumers to perceive differences between brands in a product category
● Branding provides advantage when consumers are in choice situation
● For example: Bonnaroo music and Arts Festival & Freakfest
The brand equity concept NB: What the brand equity does and where it comes from...
● How do you interpret the potential effects of various brand strategies?
o Conceptual framework based on concept brand equity
● No common viewpoint on how to conceptualize and measure brand equity
● Branding is about endowing products and services with brand equity
o Brand equity consists of marketing effects uniquely attributable to a brand
o Explains why different outcomes result from the marketing of a branded product or services than if
it were not branded
● Illustrating the transformational power of branding
The brand equity concept NB: grasp concepts
Basic principles of branding and brand equity:
● Differences in outcomes arise from “added value” endowed to a product as a result of past marketing
activity for the brand
● This value can be created for a brand in many different ways
● Brand equity provides a common denominator for interpreting marketing strategies and assessing the value
of a brand
● There may be different ways in which the value of a brand can be manifested or exploited to benefit the firm
(greater proceeds, lower costs)
, Strategic brand management process
● Involves the design and implementation of marketing programs and activities to build, measure, and
manage brand equity
Four main steps
Steps in strategic brand management process
Brand positioning is also referred to as a positioning strategy, brand strategy, or a brand positioning
statement. ... The goal is to create a unique impression in the customer's mind so that the customer
associates something specific and desirable with your brand that is distinct from rest of the marketplace.
Brand value chain is a structured approach to assessing the sources and outcomes of brand equity
and the manner by which marketing activities create brand value.
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