Product Management II - The Value of Branding

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Presentation transcript:

Product Management II - The Value of Branding MKT 750 Professor West

Agenda Discuss Tivo Case Leveraging brand equity Commercials Consumer Viewpoint, Stakeholders, Competition? Action plan Leveraging brand equity

Launching Tivo What is Brodie Keast’s interpretation of Tivo’s problem? Strengths Weaknesses

Launching Tivo Who is Tivo best suited for? What is Tivo’s value proposition?

Campaign: Target Market: Positioning: Product: Price: Place: Promotion:

Value Chain Impact Before After Advertisers Advertisers Networks Networks Cable & Satellite Cable & Satellite Consumers

Launching Tivo What can we learn from this about being a product pioneer?

The Value of Brands “A brand is a name, term, sign, symbol, or design, or a combination of them, intended to identify goods or services of one seller and to differentiate them from those of competitors. (Philip Kotler p. 443).”

What is a brand? A product is a bundle of benefits Mix Decisions -- How big is big enough? Life Cycle Decisions -- How long is too long? A brand is a “promise to your customer” Communicated through advertising, packaging, services, and warranties Expectations matter and impact experience

What is Brand Equity? The value added/deleted from a product or service due to the brand name A set of brand assets and liabilities Customer Loyalty Awareness Perceived Quality Associations Proprietary Assets

The Value of Brands Value to the Customer? Value to the Firm? Info processing is simplified, increased consumer confidence, risk reduction, ease of justification, enhanced satisfaction… Value to the Firm? Efficient and effective marketing, loyal customer base, higher margins, platform for growth, channel power

Leveraging Brand Equity Product Line and Brand Extensions Evaluate the “extended” product based on perceived similarity to the core brand Extensions offer quick rewards The cost of a successful brand launch is approx. $30 million versus $5 million for a line extension

Leveraging Brand Equity Successful: BIC disposable shavers Kodak film Ivory soap Jell-O gelatin Barbie dolls Bausch & Lomb optics Minolta camera Unsuccessful: Levi jeans Mr. Coffee coffee makers BIC disposable lighters Kodak cameras and batteries Ivory shampoo, dishwashing liquid Jell-O pudding pops Barbie games, furniture, clothes Bausch & Lomb contact lens Minolta copiers Levi business suits Mr. Coffee coffee Bausch & Lomb mouthwash

Leveraging Brand Equity Brand collaboration Partnering

Brand Dilution Can brands be stretched too far? In the late 1980s Disney became concerned Research revealed that product endorsements were resented Disney responded by establishing a brand equity team to manage the franchise and selectively evaluate all promotional opportunities

Summary Strong brands: Add value to the firm through Premium pricing Channel power Platform for extension Collaboration opportunities Require attention, and investment of resources

Assignment Case: Are Some Customers More Equal Than Others? Work on developing your team’s paper