7-1 Marketing advantages of strong brands: OK, we need examples here Improved perceptions Greater loyalty Less vulnerable to competition Less vulnerable.

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Presentation transcript:

7-1 Marketing advantages of strong brands: OK, we need examples here Improved perceptions Greater loyalty Less vulnerable to competition Less vulnerable to crises Larger margins More inelastic response to price increases More elastic response to price decreases Greater trade cooperation Increased marketing communications Possible licensing opportunities Brand extension opportunities

7-2 5 target market segments for the Toyota Tundra Fishers and outdoorsmen Home-improvement types Nascar fans Motorcycle enthusiasts Country music lovers Do we “build the brand” the same way for every segment?

7-3 Pick a brand your company markets Building the brand to be Memorable Meaningful Likeable How do we spend money on “building”? Defending the brand to be Transferable Adaptable Protectible How do we spend money on “defending”?

7-4 Brand Extensions: Again, let’s talk examples Advantages Improved odds of success Development of positive consumer expectations Access to retailer support Leverage of current brand awareness Economies of scale advertising, packaging, distribution Disadvantages Dilution of brand name Risk to brand integrity Risk of harm to parent brand Cannibalization of parent brand Lost opportunity to create new brand

7-5 Brands gain associations from being linked to other brands You have seen this before: Write a memo to the brand manager for V-8 vegetable drink suggesting two different ways to associate V-8 with Campbell’s soups from the same parent company.

7-6 Every piece of communication about the brand matters Write a memo to Latha Ramchand suggesting how the image of the Bauer MBA brand can be favorably or unfavorably affected by the actions of staff members. Offer one example of each, and explain how “internal branding” is relevant to this issue.