Business English Upper Intermediate U1S09 John Silberstein

Agenda Market Survey continued Current Events: So Greece Has Cleared Some Obstacles, But Will Spain Overcome Its Hurdles? Marketing: Brand Management

Marketing Research Group Activity Break into groups of 3 to 4. Choose a product. Write a 10 question questionnaire with the object being to understand why people purchase that product.

Marketing Brand Management What is Brand Management? Brand Management is about: Creating a Promise, Making a Promise, Keeping a Promise.

Marketing Brand Management: Creating a Promise Creating the promise means defining the brand. A good brand promise is memorable and desirable. A good brand promise evokes feelings, because feelings drive actions. Volvo offers feelings of safety. Mustang offers feelings of excitement.

Marketing Brand Management: Making a Promise After creating the promise, the promise must be made and accepted with the target market segment.

Marketing Brand Management: Keeping the Promise Keeping promises means managing capability. It means consistent processes that are capable of delivering what is required. It means technology and systems which are reliable and usable. It means motivated people who are willing and able to deliver the goods.

Marketing Brand Management What is a Brand? a brand is defined as ‘a name, term, sign symbol or a combination of these, that identifies the maker or seller of the product. or Marketing tool that allows consumers to recognize the maker of a product.

Marketing Brand Management Why is it important to Brand? A brand name helps an organisation differentiate itself from its competitors. Customers often build up a relationship with a brand that they trust and will often go back to time and time again.

Marketing Brand Management What is Brand Equity and why is it important to Brand? Brand equity refers to the value of the brand. Brand equity does not develop instantaneously. A brand needs to be carefully nurtured and marketed so consumers feel real value and trust towards that brand. Nike, Adidas, Harrods, have high brand equity. These brand command high awareness and consumer loyalty. But how much are these brands worth? It is difficult to put a value on these brands.

Brand Management What do the following terms mean to you? Brand Loyalty Brand-awareness Branding Brandstretching Own label products Me-tooism Subliminal advertising Lookalike products Market saturation