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Transcript of Brand management
![Page 1: Brand management](https://reader035.fdocuments.in/reader035/viewer/2022070322/5591fb721a28abe5658b46cf/html5/thumbnails/1.jpg)
Brand Management
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What is a brand?
A brand is a name, term, sign, symbol, design or a
combination of the above to identify the goods or service of a seller and differentiate it
from the rest of the competitors
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When you cannot do this
The product is a commodity
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A brand comprises of Tangible attributes Intangible attributes
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Tangibles
Eg. Product Packaging Labelling Attributes Functional benefits
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Intangibles
Eg. Quality Emotional benefits Values Culture Image
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Brand Identity
It is the marketer’s promise to give a set of features, benefits and services
consistently
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Brand Building
Involves all the activities that are necessary to nurture a brand into a healthy cash flow stream after launch
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What kind of activities?
Eg. Product development Packaging Advertising Promotion Sales and distribution
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Brand Equity
When a commodity becomes a brand, it is said to have
equity
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What is brand equity? The premium it can command in
the market Difference between the perceived
value and the intrinsic value
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What happens when equity increases?
Commodity Brand Power Brands
Presence+
Personality
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What happens when brands have high equity? The company can have more
leverage with the trade The company can charge a
premium on their product The company can have more
brand extensions The company can have some
defense against price competition
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Brand Loyalty Pyramid
Committed buyer
Likes the brand. Considers it a friend
Satisfied buyer. Would incur costs to switch
Satisfied buyer/no reason to change
Switchers/Price sensitive
111
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How does one build brands? Distinguishing it from others –
value proposition Brand promise must match brand
delivery
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The value proposition Broad positioning Specific positioning Value positioning
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Creating the brand Choosing a brand name Develop rich associations and
promises Managing customer brand contact
to meet and exceed expectations
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Considerations in choosing a brand name What does the brand name mean? What associations / performance /
expectations does it evoke ? What degree of preference does it
create?
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A brand name should indicate Product benefits Product quality Names easy to
remember, recognise, pronounce
Product category Distinctiveness Should not
indicate poor meanings in other markets or languages
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Brand Associations ‘owned word’ Slogans Colours Symbols and logos
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Brand Status
Step up advertising
FAMILIARITY
ESTEEM
New Product Or Product should be phased out
Cash Cow.Need toSustain brand building activities
Troubled brand Product upgradation required
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Brand ambassadors Giving a face and personality to
the brand that is expected to be rubbed off from the brand ambassador
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Brand Vitality Differentiation in consumer’s need Differentiation relevant to
consumer’s need
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Brand Pitfalls Brand experience must match
brand image Calls for managing every brand
contact