Real Ideal Branding: Great companies and their brands are built on a compelling truth - an ideal that is powerful, actionable and appealing. a foundation.

Slides:



Advertisements
Similar presentations
MARKETING MANAGEMENT 13th edition
Advertisements

MARKETING MANAGEMENT 13th edition
Marketing Management, 13th ed
Chapter Eight Product and Branding Strategy
Marketing Management • 14e
Creating Brand Equity What is Brand Equity Building Brand Equity
Leveraging Secondary Brand Associations to Build Brand Equity
3.02 Position products/services to acquire desired business image. Marketing.
Chapter 6: Strategic Brand Management
GLOBAL MARKETING Brand Management Brand Equity. What is a brand? The name, term, sign, symbol, or design, or a combination of these, that identify the.
12 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall12-1 Product and Service Strategies.
A brand is….. a name or symbol that distinguishes the goods or services of one seller group from those of competitors. BRANDING.
Chapter 11 Copyright © 2010 Pearson Education, Inc. Publishing as Prentice Hall 11-1 Product and Service Strategies.
Crafting the Brand Positioning
Chapter 9 Creating Brand Equity Brand Equity: added _____ endowed to products and services - value is reflected in how we think, feel and act with respect.
B UILDING STRONG BRANDS. In This Chapter, We Will Address The Following Questions : 1.What is brand, and how does branding work? 2.What is brand equity?
8-1 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall i t ’s good and good for you Chapter Eight Product, Services, and Brands: Building.
Products, Services and Brands: Building Customer Value.
Chapter 08 Product, Services, and Brands: Building Customer Value.
Chapter 8 - slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter Eight Products, Services, and Brands: Building Customer.
Chapter Eight Product, Services, and Brands: Building Customer Value Copyright ©2014 by Pearson Education, Inc. All rights reserved.
Session-23, 24 Differentiation Principles of marketing.
1 visit: Managing Brand Equity.
BRAND MANAGEMENT.
Chapter 8 - slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter Eight Product, Services, and Brands: Building Customer.
Global Edition Chapter Eight Product, Services, and Brands: Building Customer Value Copyright ©2014 by Pearson Education.
Building Strong Brand Dr. Ananda Sabil Hussein. Steps in Strategic Brand Management Identifying and establishing brand positioning Identifying and establishing.
Product, Services, and Branding Strategy Chapter 8.
Product, Services, and Branding Strategy What is a Product? Anything that can be offered to a market for attention, acquisition, use, or consumption.
Chapter 9: Branding, Packaging and Other Product Features
Principles of Marketing Global Edition
2.1 CUSTOMER-BASED BRAND EQUITY CUSTOMER-BASED BRAND EQUITY.
11 Setting Product Strategy. Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management,
Creating Brand Equity Marketing Management, 13 th ed 9.
Products, Services, and Brands Building Customer Value.
Chapter 9 - slide 1 Copyright © 2009 Pearson Education, Inc. Publishing as Prentice Hall Chapter Nine Product, Services, and Brands Building Customer Value.
Corporate Image and Brand Management Chapter Chapter Objectives 1.Understand the nature of a corporation’s image and why it is important. 2.Develop.
8-1 Copyright © 2012 Pearson Education, Inc. Publishing as Prentice Hall i t ’s good and good for you Chapter Eight Product, Services, and Brands: Building.
Products, Services, and Brands
Developing New Products
Part A 3.04 Position products/services to acquire desired business image. Marketing.
3.02 Position products/services to acquire desired business image.
CHAPTER 7: LEVERAGING SECONDARY BRAND KNOWLEDGE TO BUILD BRAND EQUITY
Chapter 1 marketing is all around us Section 1.1
Copyright © 2007 McGraw-Hill Ryerson Limited
Product, Services, and Brands: Building Customer Value
CHAPTER 10 CRAFTING THE BRAND POSITIONING
MGT301 Principles of Marketing
Chapter 11 Setting Product Strategy
Chapter 7 Branding decisions Learning objectives:
LEVERAGING SECONDARY BRAND ASSOCIATIONS TO BUILD EQUITY
Service Marketing Mix The essence of every marketing strategy is the marketing mix. For service marketing , due to special and unique features the.
Part 4 Product Dynamics Chapter 22 Branding. Part 4 Product Dynamics Chapter 22 Branding.
Principles of Marketing
CHAPTER 7: LEVERAGING SECONDARY BRAND KNOWLEDGE TO BUILD BRAND EQUITY
Marketing Management, 14th ed
Instructor: Safaa S. Y. Dalloul
Instructor: Safaa S. Y. Dalloul
CHAPTER 2: CUSTOMER-BASED BRAND EQUITY
Facilitated by Holly Hapke November 16, 2017
Product Planning: Taking the Next Step
Project Activity #5: Design your product.
Product, Services, and Branding Strategy
MARKETING MANAGEMENT 12th edition
Product, Services, and Branding Strategy
Fundamentals of Marketing
The Brand “The sum of all characteristics, tangible and intangible, that make the offer unique.” Brand Name Coca-Cola Brand Logo Bottle Design and Red.
An Introduction to Retail Management & Marketing
PROJECT BREAKOUT.
Presentation transcript:

Real Ideal Branding: Great companies and their brands are built on a compelling truth - an ideal that is powerful, actionable and appealing. a foundation that ensures every choice, every word, every action, delivers a great and ideal customer brand experience.

L

L

Brand “A name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.”

Brand A brand is a company’s face to the world. It is the company’s name, how that name is expressed through the logo, and how the name and logo are extended throughout an organizations’ communication.

Brand A brand is also how the company is perceived by its customers, associations and inherent value they place on your business. Branding means that you have created consciousness, an image, an awareness of your business.

A brand is not just a product. a product is made in the factory, a brand is made in the mind. - a product can be copied, a brand is unique. a product has a definite lifespan, a brand, if properly managed, can last forever.

TAKE ME! BUY ME!! NO!! BUY ME INSTEAD! UH-OH WHAT DO I DO?

So what exactly is a brand?

Brands give orientation.

Brands offer identification.

Brands are symbols.

Mankind always identified with symbols.

Brand Associations All brand-related thoughts, feelings, perceptions, images, experiences, beliefs, attitudes and so on that become linked to the brand node.

… as do sounds

Brand Elements Those trademarkable devices that serve to identify and differentiate the brand. includes brand name, URL, logos, symbols, characters, spokespeople, slogans, jingles, packages, and signage.

Brand Element Choice Criteria 1. Memorable – Consumers easily recall and recognize. 2. Meaningful – Suggest corresponding category and product ingredient or the type of person to use the brand. 3. Likable – Should be appealing. May increase awareness. 4. Transferable – Can the brand element introduce new products in the same or different category? 5. Adaptable – How updatable is the brand element? 6. Protectable – How legally protectable is the brand element?

Brand Community Companies are interested in collaborating with consumers to CREATE VALUE through communities built around brands. A sense of felt connection to the brand, company, product or other community members. Shared rituals, stories and traditions that help to convey the meaning of the community. Shared moral responsibility to the community as a whole and individual community members.

Internal Branding Consists of activities and processes that help inform and inspire employees about brands. Marketers must go even further and train distributors and dealers to serve their customers well.

For branding strategies to be successful and brand value to be created, there are meaningful differences among brands in the product or service category. Brand differences often relate to attributes or benefits of the product itself. Marketers can apply branding anywhere a consumer has a choice (good, service, store, person, place, organization or an idea).

Points-of-Parity (POPs) – attribute or benefit associations that are not necessarily unique to the brand but may in fact be shared with other brands Points-of-Difference (PODs) – attribute or benefits that consumers strongly associate with a brand, positively evaluate, and believe they could not find to the same extent with a competitive brand.

is the leadership and accountability for the long term well being of a brand. It is the willingness to use the widest range of tools and techniques to understand, develop, and enhance the relationship between a consumer and a brand. Brand stewardship involves a long-term approach to maintaining the brand promise and brand relationships that create and sustain brand equity. ROLE: As brand stewards, it is critical to ensure brands reach their full potential – in size, strength, recognition and value. Source: http://www.purohitnavigation.com/blog/art-brand-stewardship

randing your product What is your company's mission? Defining your brand is like a journey of business self-discovery. It can be difficult, time-consuming and uncomfortable. It requires, at the very least, that you answer the questions below: What is your company's mission? What are the benefits and features of your products or services? What do your customers and prospects already think of your company? What qualities do you want them to associate with your company? . Do your research. Learn the needs, habits and desires of your current and prospective customers. And don't rely on what you think they think. Know what they think.

Brand Equity It may be reflected in the way consumers think, feel, and act with respect to the brand, as well as in the prices, market share, and profitability the brand commands.

Brand Equity The added value provided to products and services. Is trying to determine how much a brand is worth to the product. It’s trying to study and determine how much for example, the name “Coke” is worth to soda.

Brand Promise Marketer’s vision of what the brand must be and do for consumers.

Basis for Product Differentiation Product Form – size, shape or physical structure of a product. Features – can be offered with varying features that supplement their basic function.

Customization – Companies increase their ability to meet each customer requirement. Performance Quality – Level at which the products primary characteristic operate. Conformance Quality – Buyers expect all products’ units are identical and meet promised specifications. Example Porsche 911 is designed to accelerate to 60 miles per hour within 10 seconds

Durability – measure of the products’ expected operating life under natural or stressful conditions. Examples are kitchen appliances. Reliability – measure of the probability that a product will not fail within a specified time period. Examples are home appliances.

Reparability – The ease of fixing product when it fails. Ideal responsibility would exist if users could fix product themselves with little costs in money or time. Example software company offering technical support over the phone. Style – describes the product look and feel to the buyer. Example: Jaguar car – extraordinary looks. Design – offers a way to differentiate and position a brand. Example: Apple phones.

Basis for Service Differentiation Ordering ease – how easy it is for the customer to place an order with the company. Example, financial service. Delivery – refers to how well the product or service is brought to the customer. Example, pizza delivery. Installation – refers to the work done to make a product operational in its planned location. Example, heavy equipment.

Customer Training – Helps the customer’s employees use the vendor’s equipment properly and efficiently. Example McDonald's requires its new franchise to attend hamburger university in Illinois for two weeks to learn how to manage the franchise properly. Customer Consulting – includes data, informative systems and advice services the seller offers to buyers. Example, IBM. Maintenance and repair – helps customers keep purchase products in good working order. Example, technician retailers.

Brand Line Extension All products, original as well as line and category extension sold under a particular brand name.  Line extension is also done to leverage on the brand equity by targeting a bigger chunk of the user base.

Brand Extension A company’s use of an established brand to introduce a new product. Leverage on the existing brand equity. A successful brand can help enter new product categories easily.

Brand Mix The set of all brand lines that a particular seller makes available to buyers.

Brand Personality The specific mix of human traits that may be attributed to a particular brand. Malboro is known for masculinity, freedom and adventure.

Brand Stretching Brand stretching refers to the use of an established brand name for products in unrelated markets. Distributors may perceive there is less risk with a new product if it carries a familiar brand name. Customers will associate the quality of the established brand name with the new product. They will be more likely to trust the new product.  The new product will attract quicker customer awareness and willingness to trial or sample the product. 

Brand Portfolio A brand portfolio is the set of all brands and brand lines a particular firm offers for sale in a particular category or market segment.

Brand Portfolio - Sony Computer Cameras Televisions Theatre Portable Electronics Sony Pictures Games VAIO -notebook -desktop Digital Home Disc Burner Location Free mylo Software Cyber-shot Alpha SLR HandyCam Printers Digital picture frames Photo services Home theatre systems Blu-ray Disc DVD players Home audio components Walkman Video MP3 Rolly Reader Digital Book Sony Cell Phone GPS Movies -Theatre -DVD -Blue-ray Television -Comedy -Drama -Daytime -Cartoons Music PlayStation -PS3 -PS2 -Portable

Co-branding Marketers often combine their products with products from other companies in various ways. Also called dual branding or brand bundling – two or more brands are combined in a joint product or marketed together in some fashion. Kinds of co-branding: Same company co-branding Joint venture co-branding Multiple form co-branding Retail co-branding

Same Company Co-branding

Joint Venture Co-branding

Multiple Sponsor Co-Branding

Retail Co-branding

Ingredient Co-branding Special case of co-branding. Creates brand equity for materials, components or parts that are necessarily contained within other branded products. Try to create enough awareness and presence for their products so consumers will not buy a “host” product that does not contain it.

Advantages of Co-Branding Can be convincingly positioned by virtue of the multiple brands. Generate greater sales. Reduce cost of product introduction. Valuable way to learn about consumers and how other companies approach them.

Co-branding 1. Risks and lack of control in becoming aligned with another brand in the consumer’s mind. 2. Consumers’ expectations are likely to be high so unsatisfactory performance could have negative repercussions for both brands. 3. Over-exposure may dilute the transfer of brand association. 4. Lack of focus on existing brands.

Factors for Successful Co-Branding Two brands must have separate brand equity. They must also have more than enough brand awareness. They must have sufficiently positive brand image. The two brands should have a fit – maximize advantage while minimizing disadvantages. Ventures must be entered into carefully. Contracts must be legalized and marketing programs must be coordinated.

Luxury brands have high quality and uniqueness. Luxury brands create value and wealth for companies. They are constantly evolving and sometimes rapidly change the marketing environment. Marketers must be skillful and adept at their brand stewardship to succeed. Luxury brands, for many, is more about personal pleasure and self-expression. Some luxury brands never go out of fashion. Luxury brand marketers have to remember they are often selling a dream anchored on product quality, status and prestige.

Brands are not only logos.

A logo is just the “pot” where we fill in all our positive and negative experiences with a brand.

of a

Example #1: Levi’s 1) The name is virtually unique. There is no confusion about which “Levi’s” a consumer could be referring to. It is not descriptive or generic. 2) Creative “non-traditional” trademarks, including: the pocket stitching design the red tag 3) Reinforcement of the brand themes: - the pocket shape, over time, has become the Levi’s logo. - the red tag shape appears on the building signs of Levi’s stores and elsewhere. The brand is well protected with many USPTO trademark registrations.