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Class 2: Branding
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Content What is a brand? To Understand Branding Issue How to Create and Maintain Brand Brand Position Communication and Branding
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What is a Brand? brand: “A perception resulting from experiences with, and information about, a company or a line of products.” brand messages: all the information and experiences that impact how customers and other stakeholders perceive the brand marketing communications: how to create, deliver, manage, and evaluate brand messages
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What is branding? “I am...” “You are...” Branding: The process of creating a brand message and image that engages the ‘hearts’ and ‘minds’ of customers Why brand is important?
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Identical cereals tasted by consumers: 59% Chose Kellogg’s41% Chose No Brand VS. The Power of Brand Identical TV sets examined by consumers: Consumers willing to pay $75 more for Hitachi than GE VS.
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BRANDING ISSUE BRAND BRAND MESSAGE/ BRAND COMMUNICATION BRAND IDENTITY/ BRAND IMAGE BRAND KNOWLEDGE BRAND EQUITY What are they?
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BRAND MESSAGE/BRAND COMMUNICATION http://www.pardot.com/blog/how-to-create-brand-messaging-that-really-resonates/ http://www.creativebloq.com/infographic/40-brand-logos-hidden-messages-101413222
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Brand Identity & Brand Image brand identity: what the brand stands for; the way it is describe in which all characteristics and actions can be traced back brand image: the customers’ perception of brand identity “I am...” “You are...”
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Brand Image The types of associations that come to the consumer’s mind when contemplating a particular brand Type of Brand Associations Attributes Product-Related (e.g., color, size, design features) Non-Product-Related (e.g., Price, Logo User and Usage Imagery) Benefits FunctionalSymbolicExperiential Overall evaluation (Attitude) Attribute + Benefit Brand Image related to evaluation of attribute and benefit
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Brand Awareness An issue of whether a brand name comes to mind when consumers think about a particular product category and the ease with which the name is evoked Recognition? Recall?
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Brand recognition do they recognize our brand?
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Brand recall can they bring our brand back from memory? fast food ? shampoo ? car ? tissue paper ? furniture ?
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Brand Knowledge: Origin of Brand Equity Brand Knowledge Brand Recognition Brand Recall Brand Awareness Attributes non-product related Overall Evaluation & Attitude Benefits symbolic experiential Brand Associations Uniqueness of Brand Association product related functional Brand Image
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Brand Equity Brand Equity: A set of characteristics unique to a brand, which allows the company the opportunity to charge a higher price and retain a market share that is grater than would otherwise be expected for an undifferentiated product. intangible difference... Dissuade consumer from looking for a cheaper product.
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E How to enhance brand equity... 1. Broadening distribution 2. Brand extensions/ flanker brand 3.Co-branding 4. Brand licensing
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E How to enhance brand equity... 1. Broadening distribution Example: Starbucks’ whole bean/ ground bean packages
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How to enhance brand equity... Example: P&G Company 2. Brand extensions/ flanker brand Extension of an existing brand to create another product or brand with increased market share. The new product may be a different size, flavor, or type but still falls within the same category of products. Source: http://www.businessdictionary.com/definition/flanker-brand.html#ixzz3xO32XQSf
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How to enhance brand equity... 3.Co-branding Example: Walls & Oreo, M&M, Hersheys, Chips Ahoy/ Nike- apple running sensor
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E How to enhance brand equity... 4. Brand licensing Example: Using the brand name or logo of well-known brand on a wide range of products of another brand
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How to create & maintain brands? Determine brand position 1 Develop brand identification 2 Create brand image 3
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1. Determine Brand position brand position: the standing of a brand in comparison with competitors in customers’ minds Source: http://www.slideshare.net/ru2dstudio/240496-project-development-21aug09-slides
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Positioning Map positioning map: (perceptual mapping) mapping technique that indicates how customers perceive brands on the basis of various criteria
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Japanese RestaurantsPositioning Map Mid price Higher price BuffetGeneralistSpecialist
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Positioning Strategies possible when a brand defines, creates or owns a category positioning based on a generic feature that competitors haven’t talked about based on element that is unique to your brand (can be tangible & intangible) Category Positioning Pre-emptive Positioning Image Positioning Auto sleeper, WINCHCOMBE, it born to be car-home
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based on created associations with your brand based on advantages that allow a product to satisfy needs, wants, desires Unique product feature Positioning Benefit Positioning
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2. Develop Brand Identification Choose and select your brand identity: Brand elements include brand names, symbols, logos, slogans, packaging, etc. 3. Create Brand Image An impression created by brand messages & experiences of a brand. Like a personality...
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Purposeful Dialogue The four Rs... Easy access to those who can solve a problem company acknowledgement of purchases and the customers’ interaction history with the company customer satisfaction following a customer initiated company contact (make customer impressed) showing consideration and not hammering them with advertisements and messages in which they have little interest
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How Brand Communication Works
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Brand Touch Points
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Unexpected customer touch point
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Intrinsic customer touch point
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Company created customer touch point
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Customer initiated customer touch point
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