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Brand Management Dr. Andrew Gustafson Creighton University College of Business Administration c 2007

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(Jeff Bell, Vice President Jeep, Daimler-Chrysler Corporation, September 2003) ... 'Of all the things that your company owns, brands are far and away the most ... – PowerPoint PPT presentation

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Title: Brand Management Dr. Andrew Gustafson Creighton University College of Business Administration c 2007


1
Brand ManagementDr. Andrew
GustafsonCreighton University College of
Business Administrationc 2007
2
Objectives
  • To understand the meaning of a brand and
  • various modes of branding.
  • To understand the concept of brand equity and
  • a framework for its enhancement.
  • To identify and assess various methods of
  • corporate branding strategy.
  • To understand the meaning of brand extensions
  • and their implications.

3
Brand Value
  • "Well-managed brands have extraordinary economic
    value and are the most effective and efficient
    creators of sustainable wealth."
  • -- Rita Clifton in Brands and Branding

4
What is a Brand?
  • A brand is a name, term, sign, symbol, or
    design,or a combination of them, intended to
    identify one sellers products as distinct from
    those of other sellers seeking to satisfy the
    same need.

5
Branding in Action
PBS Frontline Video The Persuaders http//www
.pbs.org/wgbh/pages/frontline/shows/persuaders/vie
w/
6
Customer-Based Brand Equity
  • KK describe it as the differential effect that
    brand knowledge has on consumer response to the
    marketing of that brand and its products.

7
Building Brand Equity
  • Based on all brand-related contacts whether
    marketer-initiated or not.
  • 1. Initial choices for brand elements.
  • 2. The product, ancillary services, and other
    accompanying marketing mix activities.
  • 3. Other secondary associations.

8
Brand Elements illustrations
  • Like a good neighbor,
  • State Farm is there
  • Just do it
  • Nothing runs like a Deere
  • Save 15 or more in 15 minutes or less
  • We try harder
  • Well pick you up
  • Nextel Done
  • Zoom Zoom
  • Im lovin it
  • This Buds for you
  • Always low prices

9
Brand Elements
10
  • Recall that service products are intangible to
    the extent that they cannot be touched, held, or
    seen before making a purchase decision.
  • A common practice is to develop brand marks that
    tangibilize brand benefits

11
Secondary Associations
  • Source Kotler Keller, A Framework for
    Marketing Management, 3rd Edition, 2007.

12
Secondary Associations
  • Jeep Trail Rated is an industry-leading
  • methodology to objectively measure and predict
  • off-road performance for all Jeep vehicles.
  • (Jeff Bell, Vice President Jeep,
    Daimler-Chrysler Corporation, September 2003)
  • Launch included 6 new print ads and 4 new
    television spots to communicate the stringent
    requirements that Jeep vehicles must meet.
  • Supported by Nevada Automotive Test Center

13
A Blueprint for Brand Equity
  • Assetts
  • Brand Awareness
  • Brand Loyalty
  • Brand Relevance
  • Perceived Quality
  • Other Positive
  • Associations
  • Liabilities
  • Dissatisfaction
  • Environmental
  • Disasters
  • Product Failures
  • Lawsuits / Boycotts
  • Questionable
  • Business Practices

14
Top 100 Global Brands in 2006
  • 1 67.0 billion 2 56.9 billion 3
    56.2 billion 4 48.9 billion
  • 5 32.3 billion 6 30.1 billion 7
    27.9 billion 8 27.8 billion
  • 9 27.5 billion 10 21.8 billion 11
    21.4 billion 12 21.3 billion

15
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16
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17
Branding Strategy
  • One of the great benefits of brand equity is the
  • ability to leverage the goodwill of customers
  • to grow your business
  • Portfolio Considerations Brand Leverage
  • Multiproduct Branding Line Extension
  • Multibranding Category
    Extension
  • Combination
    Co-Branding

18
In-Depth Multiproduct Branding
  • Multiproduct Branding (aka Blanket Family
  • Names) occurs when a single name serves as the
    base brand name across all product categories.
  • Examples?
  • Advantages? Disadvantages?

19
In-Depth Multibranding
  • Multibranding (aka Individual Names or Separate
    Family Names) occurs when a company uses
    different brand names to represent different
    products, product lines, product categories, or
    even SBUs.
  • Examples?
  • Advantages? Disadvantages?

20
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21
In-Depth Combination
  • A combination of branding strategies is used when
    a company combines a corporate-wide (or parent
    brand) name with a sub-brand name for a distinct
    product or line of products.
  • There are many variations of this, such as using
    model names or numbers.

22
In-Depth Brand Extensions
  • Line extensions are new same-branded products
    that allow for expanding your offering in a
    product category that you already serve.

23
Category extensions are new same-branded products
that allow for entry into a product category that
you do not currently serve.
24
Lessons About Successful Brands
25
Lesson 1 Brands Pay
  • Brands which place high importance on managing
    the economic value of their intangible assets,
    and primarily their brands, consistently
    outperform basic economic measures.

26
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27
Lesson 2 Good Brands Listen
  • The best brands follow their stakeholders
    journeys so that they provide effective,
  • consistent and appropriate messaging throughout
    the experience.

28
Lesson 3 Brands Anticipate
Having foresight helps companies make informed
choices about their brand and frees leaders up to
make bold moves in the full knowledge of the
implications.
29
Problems Facing Branding
  • Since 1991, the number of brands on US grocery
    store shelves has tripled.
  • In 2003 the US Patent and Trademark Office issued
    140,000 trademarks - 100,000 more than in 1983.
  • The average American sees 60 percent more ad
    messages per day than in 1992

30
The Importance of Brands
  • "Of all the things that your company owns, brands
    are far and away the most important and the
    toughest. Founders die. Factories burn down.
    Machinery wears out. Inventories get depleted.
    Technology becomes obsolete. Brand loyalty is the
    only sound foundation on which business leaders
    can build enduring, profitable growth."
    -- --Jim Mullen

31
An Example Sony
  • 99.5 percent of people said they'd be willing to
    pay more for a Sony. In 2004
  • However, in 2000 Sony charged 44 percent more for
    its DVD players than the average.
  • In 2004, Sony DVD players cost just 16 percent
    more than the average.
  • Although the price of Sony's most expensive DVD
    player fell 60 percent between 1999 and 2003,
    CyberHome, maker of absurdly cheap DVD players,
    has knocked off Sony to become the biggest
    DVD-machine seller in America

32
Future of Branding
  • Vibrant Brands Require Regular Maintenance and
    updating
  • Older Brands which do not stay contemporary will
    lose
  • Cannot depend on customer loyalty in age of
    consumer knowledge and skepticism

33
The End

34
Bibliography/Sources
  • http//www.ourfishbowl.com/images/surveys/Interbra
    nd_BGB_2007.pdf
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