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BRAND MANAGEMENT
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BRAND Name, term, sign, design symbol, or the combination of them
that identify a product/service of a company
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BRAND IS IMPORTANT. WHY ? ? ? It makes emotion agreement
consistent and stable It can penetrate each culture and market It can create the interaction communication toward the consumer Influential in forming customer behavior It ease buying decision process by customer The ability to grow as the biggest asset of company
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Framework for Brand Management
Market Analysis Consumer Analysis Company Analysis Market Truth Consumer Truth Product Truth Market Niches Brand Ideas Brand Platform Brand Architecture Communication (Marketing Mix ) Brand Equity
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BRAND EQUITY Definition :
A set of asset and liabilities linked to a brand, its name, symbol, that add to or subtract from the value provided by a product or service to a firm and/or to that firm’s customers.
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Other propriety brand asses
BRAND EQUITY CONCEPT Perceived quality Brand awareness Brand association Brand equity (Name, Symbol) Other propriety brand asses Brand loyalty value to customer value to company
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☻COMPETITIVE ADVANTAGE
VALUE TO CUSTOMER ☻INTERPRETATION / PROCESSING OF INFORMATION ☻CONFIDENCE IN THE PURCHASE DECISION ☻USE SATISFACTION VALUE TO COMPANY : ☻EFFICIENCY AND EFFECTIVENESS OF MARKETING PROGRAMS ☻BRAND LOYALTY ☻PRICES / MARGINS ☻BRAND EXTENSIONS ☻TRADE LEVERAGE ☻COMPETITIVE ADVANTAGE
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BRAND AWARENESS
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The Awareness Pyramid Brand Awareness : The ability of potential buyer to recognize or recall that brand is a member of a certain product category
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HOW BRAND AWARENESS WORKS TO HELP BRAND ?
Anchor to which other association can be attached Familiarity - Liking Substance / Commitment Brand to be considered
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Involve a slogan or jingle Symbol exposure Publicity Event sponsorship
Be different & memorable Involve a slogan or jingle Symbol exposure Publicity Event sponsorship Consider brand extensions Using cues Recall requires repetition The recall bonus HOW TO ACHIEVE AWARENESS ???
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ANYTHING “LINKED” IN MEMORY TO A BRAND
ASSOCIATION ANYTHING “LINKED” IN MEMORY TO A BRAND
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WHAT IS THE VALUE OF BRAND ASSOCIATION ?
HELP PROCESS/RETRIEVE INFORMATION DIFFERENTIATED REASON TO BUY WHAT IS THE VALUE OF BRAND ASSOCIATION ? CREATE POSITIVE ATTITUDE / FEELINGS BASIS FOR EXTENSIONS
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ASSOCIATION THAT CONNECTED TO BRAND
INTANGIBLES ATTRIBUTES CUSTOMER BENEFITS PRODUCT ATTRIBUTES RELATIVE PRICE ASSOCIATION THAT CONNECTED TO BRAND COUNTRY/ GEOGRAPHIC AREA USE/ APPLICATION USER / CUSTOMER COMPETITORS CELEBRITY/ PERSON PRODUCT CLASS LIFE STYLE / PERSONALITY
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ASPECTS OF BRAND ASSOCIATION
CUSTOMER’S CONFIDENCE TOWARD BRAND BRAND ABSTRACTNESS CUSTOMER’S FAVORABLE TOWARD BRAND
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PERCEIVED QUALITY
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PERCEIVED QUALITY CUSTOMER PERCEPTION OF THE OVERALL QUALITY OR SUPERIORITY PRODUCT OF A PRODUCT OR SERVICE WITH RESPECT TO ITS INTENDED PURPOSE, RELATIVE TO ALTERNATIVES
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PERCEIVED QUALITY DIMENSION
PRODUCT PERFORMANCE FEATURES CONFORMANCE RELIABILITY DURABILITY SERVICEABILITY FIT & FINISH SERVICE TANGIBLES RELIABILITY COMPETENCE RESPONSIVENESS EMPATHY
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VALUE OF PERCEIVED QUALITY
REASON TO BUY CHANNEL MEMBER INTEREST VALUE OF PERCEIVED QUALITY DIFFERENTIATION BRAND EXTENSIONS PREMIUM PRICE
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BRAND LOYALTY
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BRAND LOYALTY A measure that could give description
about the possibility whether the consumer will switch to another brand, mainly when the brand is changing (the price or other attributes).
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PROVIDE TIME TO RESPOND TO COMPETITIVE THREATS
TRADE LEVERAGE VALUE OF BRAND LOYALTY ATTRACTING NEW CUSTOMER REDUCED MARKETING COSTS PROVIDE TIME TO RESPOND TO COMPETITIVE THREATS
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BRAND LOYALTY PIRAMID
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CREATING & MAINTAINING BRAND LOYALTY
TREAT THE CUSTOMER RIGHT STAY CLOSE TO THE CUSTOMER MEASURE/MANAGE CUSTOMER SATISFACTION CREATE SWITCHING COSTS PROVIDE EXTRAS BRAND LOYALTY
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