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Extensive summary brand management
- Vak
- Brand Management
- Instelling
- Tilburg University (UVT)
Extensive summary of all the lectures of Henk roest for brand management.
[Meer zien]Voorbeeld 4 van de 65 pagina's
Voorbeeld 4 van de 65 pagina's
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Apply ( at least five) articles in team assignment (rigor & relevance), not for examTopic 1 – Brand Management
Barbie movie – why is it is a succes now – 10 years ago it would be a flop and now we do get
it – what has changed? The society changed, how people feel and think – blockbuster –
connection.
Barbie’s success shows that the branded blockbuster is the future of marketing
The secret of barbie movie’s marketing success
Childhood: everything should be perfect, social media – that is not real life
New product development now as well
‘young consumers are clearly feeling perfection fatigue and craving more authentic content
– not just within their feeds’ – example fast food pictures always look better but now they
post pictures of not perfect items, or Pampers (curling parents create a caring environment
and earase all their child’d problems – they connect with real parents without photoshop),
and barbie as well.
Example now: Mondelez picks up startups, 63% consumers opt for private label in search of
savings, as prices rise – Colgate and Mondelez boost ad spend – people are more and more
trying private labels and if they are good enough why spend double their money on the
same product – innovation and advertising – especially in supermarkets private labels are
growing
Brand management – the past
Commodities
products that are not very different from one to another
often sold loose – before self scan
very high quality variable (some very good some very bad)
in competitive markets we have many mfrs./sellers for the same commodity
introduce brands/labels to get a buyer to prefer and buy my ‘commodity’ – differentitate
your product from competition and make it more attractive & make it known by branding
your commodity
branded products – label/name without info
commodities – nothing
brands – product that has a name and meaning in customers minds
name brand is derived from word with meaning ‘ to burn’ – cattle ranchers – bakers started
marking their bread England 1266 – quality marks is where branding & logos comes from
P&G introduced the moon and the stars logo in 1851, why? Recognition, meaning, unique –
people could not read but they could recognize – Uneeda biscuits 1898 was the first
nationally branded biscuit – even simple commodities
1
,Brand = a name, term, sign, symbol, or design, or a combination of them, intended to
identify the goods and services of one seller of group of sellers and to differentiate from
those of competition (recognition).
Why would we buy louis Vuitton/ Apple? not covered in this definition
!There is more in the brand nowadays
in practice, a brand creates a certain amount of meaning, reputation, preference,
and so on,… in the eyes of the consumer.
Brand management – the present
Letting the company in – no longer what the companies tell you about the brand but wom,
ratings and reviews
A brand used to be what you said it was, and yoyu were able to communicate that very
efficiently. Today, brands are the sum total of what others say that you are.
Changing perspectives:
- from the organizations’ point of view – physical product
- to the customer’s point of view – psychological product
difference people are willing to spend on a product because it has a certain brand – name
for it
Core product = basic part, commodity
Tanglible product = colour, varieties,
Augmented product = warranties, compatability, lease opportunity, intangible but still under
control of brand
Total product = transition from company to customer – covers everuything that the
organizqiton wants you to know/belief – brand image, attitude, what do the customers
think – how is it perceived
No control of organization – perception in market place
Physical is up until the augmented product and the psychological is the total product, then
the consumer comes in
Past perspective:
2
,Inside-out perspective
New perspective:
Example – the Pepsi, coca cola taste test
Blind people preferred Pepsi, with brand all of the sudden they preferred Coca Cola
the point is that apparently a brand is more than just the properties of a products –
difference benefits that consumers are looking for related to company decisions but
so much more
new definition Brand = a products, but one that adds other dimensions that differentiate it
in some way from other products designed to satisfy (the same) needs.
These valued differences can be:
- rational and tangible, but are often
- intangible, emotion and symbolic (like Louis Vuittion and Apple, status, comfortable
(in state of mind like environmental), stylish)
3
, Product versus brand
Product – branded product Brand – branded product
Tangible Intangible – lives in customers mind –
additions to augmented product
Can be copied - commodity Unique – give it meaning
Can be outdated Potentially timeless – update at any time
Involves transactions Forms basis of connections
Products (past) Brands (now)
Differentiation Relevance
Attributes Personality
Promise Relationship
Static Dynamic
Mass Individual
Awareness Meaningfulness
Sometimes you have the brand but it is not manufactured by that brand
Brands evolve and have some kind of connection with people
4
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