Products and Services: Branding Jeremy Kees, Ph.D.

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Presentation transcript:

Products and Services: Branding Jeremy Kees, Ph.D.

What is a 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.

What is a brand?? Name Term Sign Design But even more importantly, it’s an ECONOMIC ASSET!!

The Role of a Brand Identify the maker Simplify decision making and reduce risk Signify quality Create barriers to entry Secure a competitive advantage Secure price premium

What are the top global brands? (according to Interbrand/Businessweek 2008) #1? Worth $67 BILLION!! #2 – 5? (Hint: Think technology) Only Restaurant in the top-10? Only dot-com in the top-10? Top 3 gainers? Losers? LINK

A great “brand” company… P&G –Market research –Product innovation –Effective brand management

What makes a brand successful? Recognition Consistent Emotion Evoking –ZestZest –Jumpman (2)Jumpman2 Uniqueness vs

Brand Loyalty Brand Recognition –SchickSchick Brand Preference Brand Insistence

Measuring and Managing Brand Equity Measuring Brand Success –Brand Audit –Brand Tracking –Brand Valuation Managing Brands –Reinforcement –Revitalization

Brand Portfolio Flankers Cash cows Low-end entry- level High-end prestige Anheuser-Busch

Packaging & Labeling Primary objectives of packaging: –Assistance in marketing the product (see labeling) –Protection from spoilage, damage, etc. –Cost effectiveness

Packaging & Labeling Primary objectives of labeling: –Communication Identify Product Describe Product Grade Product Promote Product –Warning

Packaging & Labeling

Brand Extensions Extending the brand to an unrelated product Usually a good idea… –“Carry-Over Effects” –Lower product cost launch –Improvements over previous products Sometimes not… –Brand dilution –Inappropriate My Favorite…

Brand Licensing Allowing other companies to use a brand name in exchange for a payment