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Brand Management

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Brand Management 03/02/05 Brands Branding is an important differentiation tool It refers to the name, term, symbol or design that is used to identify and ... – PowerPoint PPT presentation

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Title: Brand Management


1
Brand Management
  • 03/02/05

2
Brands
  • Branding is an important differentiation tool
  • It refers to the name, term, symbol or design
    that is used to identify and differentiate your
    product from competing products
  • It is like a promise to consumers
  • A brand is also like an identity for your product

3
Brands
  • Brands are important because consumers buy and
    are loyal to brands not products
  • Loyalty can be driven by inertia or by preference
  • Hence, purchase patterns alone do not adequately
    represent brand loyalty
  • There can be different levels of loyalty for a
    brand

4
Brand Loyalty
INCREASING LOYALTY
5
Advantages of Brand Loyalty
  • Reduced marketing costs
  • Greater leverage and power in channels
  • Ability to charge higher prices
  • Ability to launch extensions
  • Defense against competitors

Greater profitability
6
Brand Equity
  • Brand equity is the total value of a brand to the
    company.
  • Brand awareness Do people know about your brand?
  • Recall
  • Recognition
  • Mental and emotional associations
  • Perceived quality/performance
  • Image
  • It is closely linked to brand loyalty and depends
    on the number of loyal customers of a brand

7
Brand Awareness
  • A brand that is not considered cannot be chosen
  • A customer cannot consider a brand unless they
    are aware of it

8
Brand awareness Recall/Recognition
  • Increases likelihood of consideration at the
    point of purchase
  • Enhances the salespersons initial contact
    (industrial)
  • Enhances in-store promotional efforts
  • Increases attention and comprehension of
    advertising

9
Brand associations Quality
Profitability (ROI) PERCEIVED RELATIVE
QUALITY inferior moderate superior RELATIVE h
igh 21 27 38 MARKET medium 14 20 29
SHARE low 7 13 20 SOURCE PIMS (Profit
Impact of Market Strategies based on 2,200
business units)
10
Brand associations Image
  • Brand image is the integration of all experiences
    with and information about a brand as perceived
    and remembered by customers
  • The whole is more than the sum of its parts
  • Brand image is relative easy to create, but
    almost impossible to change!
  • Examples

11
Worlds most valuable brands
  • 1997 2000 2004
  • Coco-Cola Coca-Cola Coca-Cola
  • Marlboro Microsoft Microsoft
  • IBM IBM IBM
  • McDonalds Intel GE
  • Disney Nokia Intel
  • Sony GE Disney
  • Kodak Ford McDonalds
  • Intel Disney Nokia
  • Gillette McDonalds Toyota
  • Budweiser ATT Marlboro

12
Types of brands
  • Manufacturer vs. private label
  • Multi-product vs. Multi-brand
  • Mixed brands
  • Generic brands
  • Co-branding
  • International, National and regional brands

13
Extending brands
  • Line extensions
  • Same brand, same product
  • Risk cannibalization
  • Higher survival rates
  • Brand Extensions
  • Same brand, different product
  • High risk to the original brand if the extension
    fails
  • Lower marketing costs
  • Brand associations determine success

14
Types of extensions
  • Upward stretch is when the product quality is
    superior to the current brand quality
  • Downward stretch is when the product quality is
    inferior to the brand quality
  • 2-way stretch a brand with both high and low end
    presence

15
Conclusions
  • Consumers are loyal to brands not products
  • Different types of brands
  • Brand equity is a very important contributor to
    profits
  • Brand image is very difficult to change once it
    is established
  • Brands can be leveraged to new products
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