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BRAND MANAGEMENT

Module 1

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O utline

Branding Perspectives Branding Challenges and O pportunities

Brand Equity Concept Strategic Brand Management Process,

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What is a Brand?A brand is a name, term, sign, symbol, or design

which is intended to identify the goods or

services of one seller or group of sellers and to

differentiate them from those of competitors.It is the best means of advertising and

positioning (USP)Eg: MTR, Dell Computers, Tata, Infosys, etcEg: Renuka Sugars, Niyaz Chicken, Balus Vada Pav,Swamys Bakery ,IMER, BETs GBS, etc

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Brand Elements and Criteria

Memorability

Meaningfulness

Likeability

Transferability

Adaptability

Protectability

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MEMOR ABILITY Important for achieving a high level of brand

awareness

Brand elements have to be memorable andattention getting

Facilitate recall or recognition

in purchase or consumption

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MEANINGFULNESS

Either descriptive or persuasive content Brand elements should provide: General Information about the nature of theproduct category(speed, mileage, cc, disk breaks)

Specific information about particular attributesand benefits of the brand.(pulsar dts-i tech)

There are some things money cant beverything else, theres -------

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LIKEABILITY

Aesthetic appeal visual and verbal

Brand elements rich in imagery, fun and

interesting.

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TR ANSFE R ABILITY

Extent to which the brand element adds to brand

equity of new products of the brand.

Usefulness of brand elements for the line and

category extensions

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ADAPTABILITY

Adaptable over time due to changes in

consumer values and opinions

Need for remaining contemporary

Most brand elements must be updated

Logos and characters can be given a new lookor design to make them appear more modern

and relevant.

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Example

Canara Bank has changed its Logo four times

in the last 100 years, to remain contemporary

and reorient itself to the changing times. ...

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The new brand identity for Canara Bank isbased on the idea of a bond and is arepresentation of the close ties between theBank and its many stakeholders fromcustomers and employees to investors,institutions and society at large. With its richheritage of banking expertise, dedicatedcustomer service and corporate socialresponsibility, Canara Bank is a powerfulenabler who helps its stakeholders achieve their goals. The two seamlessly connected links

capture the essence of this partnership.

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P RO TECTABILITY

Protectable both in legal and competitive sense Marketers should:- Choose brand elements that can be legally

protected internationally- Formally register them with the appropriate

bodies

- Vigorously defend trademarks fromunauthorized competitive infringement

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Evolution of Brands

Motorola

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Apple

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IBM

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Nokia

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Contd

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Brands Success & Failure

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S R K as a BrandS R K endorses 39 brands, including P epsi,Hyundai, Airtel, Videocon, SunFeast, Tag Heuer, Dish TV andMayur Suitings.

And to add to the monetary gains,he gets R s 1-1.5 crore to bepresent at any function in India,according to event managementagencies

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N ew Branding ChallengesBrand management is as difficult as ever Savvy consumers

Increased competition

Decreased effectiveness of traditional marketing

tools and emergence of new marketing tools

Complex brand and product portfolios

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T he Concept of Brand Equity

The brand equity concept stresses theimportance of the brand in marketingstrategies.

Brand Equity relates to the fact that differentoutcomes result in the marketing of a productor service because of its brand name, ascompared to if the same product or servicedid not have that name

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ContdBrand equity refers to the marketing effects or outcomes that accrue to a product with its brandname compared with those that would accrue if the same product did not have the brand name

Brand equity is one of the factors which canincrease the financial value of a brand to thebrand owner

Aspects of brand equity includes: brand loyalty,awareness, association, and perception of quality

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T he Concept of

Customer-Based Brand EquityCustomer-based brand equity

Differential effect Customer brand knowledge Customer response to brand marketing

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D eterminants of

Customer-Based Brand Equity

Customer is aware of and familiar with thebrand

Customer holds some strong, favorable, andunique brand associations in memory

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Building Customer-Based Brand Equity

Brand knowledge structures depend on . . .

T he initial choices for the brand elements

T

he supporting marketing program and themanner by which the brand is integrated into it

Other associations indirectly transferred to thebrand by linking it to some other entities

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Benefits of

Customer-Based Brand EquityEnjoy greater brand loyalty, usage, andaffinity

Command larger price premiumsReceive greater trade cooperation & support Increase marketing communicationeffectivenessYield licensing opportunitiesSupport brand extensions.

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Customer-Based Brand Equity

as a BridgeCustomer-based brand equityrepresents the added value endowed

to a product as a result of past investments in the marketing of abrand.Customer-based brand equity providesdirection and focus to future marketingactivities

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T he Key to Branding

For branding strategies to be successful,consumers must be convinced that thereare meaningful differences among brandsin the product or service category.Consumer must not think that all brands inthe category are the same.PER CE PT ION = VALUE

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Strategic Brand Management

Strategic brand management involves the designand implementation of marketing programs andactivities to build, measure, and manage brand

equity.T he strategic brand management process isdefined as involving four main steps:1) Identifying and establishing brand positioning and values

2) Planning and implementing brand marketing programs3) Measuring and interpreting brand performance4) Growing and sustaining brand equity

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Strategic Brand Management P rocess

Mental mapsCompetitive frame of referenceP oints-of-parity and points-of-differenceCore brand valuesBrand mantra

Mixing and matching of brand elementsIntegrating brand marketing activitiesLeveraging of secondary associations

Brand Value ChainBrand auditsBrand trackingBrand equity management system

Brand-product matrixBrand portfolios and hierarchiesBrand expansion strategiesBrand reinforcement and revitalization

KEY CONCE P TSSTE P S

Grow and SustainBrand Equity

Identify and EstablishBrand Positioning and Values

Plan and ImplementBrand Marketing Programs

Measure and InterpretBrand Performance