This Branding Summary provides you with an understanding about all topics covered in the lectures given by Roger Pruppers (Period 4 2023). The Implications of the Articles are listed and attached to theoretical knowledge and clarified with real life examples.
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Brand
a name, term, design, symbol or any other feature that distinguishes one seller's goods or
service from those of other sellers.
Branding
process of creating a distinct identity for a business in the minds of your target audience and
the general population. At its core, branding consists of a company's name and logo, visual
identity design, mission, values, and tone of voice.
Branding Perspectives:
1) Firm: Brand as asset
→ strategic and financial implications
2) Consumer: Brand as cue/signal
→ economic and psychological approach
3) Society: Brand affecting society and culture
→ societal and cultural approach
Branding Challenges
Hyperconnectivity: interconnectedness and integrating of various touchpoints and channels
transform how brands interact with consumers and stakeholders
→ Blurring of brand boundaries (shared ownership, co-creation, control etc.)
→ Broadening of brand boundaries (more stakeholders involved, expanding geographic
reach/societal roles → role of brand broadens: brands need mission or purpose beyond
value maximisation.
Boundaries
- Information availability/speed of information dissemination
→ information overload, reduced search costs
- Networks of people and devices, growth of platforms
→ competition about brand meaning
- More complex brand experiences
Brand Equity
→ added value of a brand to a product (e.g. added value of ‘Nike’ to a shoe)
→ intangible value and assets associated with brand name, symbol, logo
→ provides competitive advantage
→ enhances customer loyalty
→ drives financial performance
1
,Brand Value Chain Keller
→ importance of building/managing brand equity as a source of sustainable competitive
advantage
→ chain/sequence that explains how brand value is created and leveraged to drive business
performance
→ starts with investment in marketing programs (originally 4 P’s; now: what are strategic
ways/marketing activities to generate customer based brand equity?)
Investment in marketing programs → should translate into customer mindset → which
should translate into actual market performance → which should translate into shareholder
value.
→ Program Quality, Market Conditions, Investor Sentiments act as moderators on
relationship between steps (strengthen degree of translation into following step)
Customer Based Equity
Another way to look at Customer mind set
→ added value of the brand in the mind of the consumer
→ Keller: differential effect that brand knowledge has on customer response to brand
marketing activity
Building CBBE
- Brand identity / elements
- design/implement marketing activities
- Leverage secondary associations
→ The way in which consumers form thought, feelings about brands through existing
knowledge about the entities these brands are associated with.
Measure CBBE
- Measure brand knowledge
- Measure differential effect created by brand knowledge on consumer response to
different aspects of marketing program
2
, Manage CBBE
- Broad and long-term view on marketing a brand
- Specify desired consumer knowledge (what they should know about brand)
- Consider wide range of traditional and non-traditional advertising
- Coordinate marketing options
- Conduct tracking studies/monitor
- Evaluate potential extension candidates
Brand Resonance Model (CBBE)
→ Remember: model emphasises how to build strong, favourable and unique brand
5 A’s of Brand Resonance: (Levels building up Brand Equity)
Salience (Identity: Who is the brand? E.g Nike)
1) Awareness
- Recall: Remember brand names with little prompting
- Recognition: Identify product/service by viewing brand element
- Depth: how easy to recall/recognize brand
- Breadth: range of situations in which brand comes to mind (how often)
Performance / Imagery (Meaning: What is the brand? E.g. Sportswear, Runningshoes,...)
2) Associations
- Composition of associative network: what and how strong?
- Types of associations:
- functional/symbolic
- attributes/benefits
→ Form base for brand positioning
Judgement / Feelings (Response: What do consumers feel? E.g. Enthousiast about brand)
3) Attitudes
→ Direction of Association
- positive/negative
- favourable/unfavourable
→ individual association level (can differ)
- Further nodes activated after brand node has been activated (what do you
think about Running → Marathon → Shoes → Nike …; Nike as a far node)
- Mental reaction/response to brand
→ brand evaluation
3
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