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BRAND MANAGEMENT

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Title: BUILDING, MEASURING, AND MANAGING BRAND EQUITY Author: Kevin Lane keller Last modified by: Srinivas Created Date: 10/13/1998 10:46:18 AM Document presentation ... – PowerPoint PPT presentation

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Title: BRAND MANAGEMENT


1
BRAND MANAGEMENT
  • Bhushan D. Sudhakar, Ph.D
  • Assistant Professor Co-ordinator (UG)

2
What is a Brand?
  • A brand is a name, term, sign, symbol, or design
    which is intended to identify the goods or
    services of one seller or group of sellers and to
    differentiate them from those of competitors.

3
New Branding Challenges
  • Brands are important as ever
  • Consumer need for simplification
  • Consumer need for risk reduction
  • Brand management is as difficult as ever
  • Savvy consumers
  • Increased competition
  • Decreased effectiveness of traditional marketing
    tools and emergence of new marketing tools
  • Complex brand and product portfolios

4
The Customer/Brand Challenge
  • In this difficult environment, marketers must
    have a keen understanding of
  • customers
  • brands
  • the relationship between the two

5
The Concept of Brand Equity
  • The brand equity concept stresses the importance
    of the brand in marketing strategies.
  • Brand equity is defined in terms of the marketing
    effects uniquely attributable to the brand.
  • Brand equity relates to the fact that different
    outcomes result in the marketing of a product or
    service because of its brand name, as compared to
    if the same product or service did not have that
    name.

6
The Concept of Customer-Based Brand Equity
  • Customer-based brand equity
  • Differential effect
  • Customer brand knowledge
  • Customer response to brand marketing

7
Determinants of Customer-Based Brand Equity
  • Customer is aware of and familiar with the brand
  • Customer holds some strong, favorable, and unique
    brand associations in memory

8
Building Customer-Based Brand Equity
  • Brand knowledge structures depend on . . .
  • The initial choices for the brand elements
  • The supporting marketing program and the manner
    by which the brand is integrated into it
  • Other associations indirectly transferred to the
    brand by linking it to some other entities

9
Benefits of Customer-Based Brand Equity
  • Enjoy greater brand loyalty, usage, and affinity
  • Command larger price premiums
  • Receive greater trade cooperation support
  • Increase marketing communication effectiveness
  • Yield licensing opportunities
  • Support brand extensions.

10
Customer-Based Brand Equityas a Bridge
  • Customer-based brand equity represents the added
    value endowed to a product as a result of past
    investments in the marketing of a brand.
  • Customer-based brand equity provides direction
    and focus to future marketing activities

11
The Key to Branding
  • For branding strategies to be successful,
    consumers must be convinced that there are
    meaningful differences among brands in the
    product or service category.
  • Consumer must not think that all brands in the
    category are the same.
  • PERCEPTION VALUE

12
Strategic Brand Management
  • Strategic brand management involves the design
    and implementation of marketing programs and
    activities to build, measure, and manage brand
    equity.
  • The strategic brand management process is defined
    as involving four main steps
  • 1) Identifying and establishing brand
    positioning and values
  • 2)  Planning and implementing brand marketing
    programs
  • 3)  Measuring and interpreting brand performance
  • 4)  Growing and sustaining brand equity

13
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14
Motivation forCustomer-Based Brand Equity Model
  • Marketers know strong brands are important but
    arent always sure how to build one.
  • CBBE model was designed to be
  • comprehensive
  • cohesive
  • well-grounded
  • up-to-date
  • actionable

15
Rationale of Customer-Based Brand Equity Model
  • Basic premise Power of a brand resides in the
    minds of customers
  • Challenge is to ensure customers have the right
    types of experiences with products services and
    their marketing programs to create the right
    brand knowledge structures
  • Thoughts
  • Feelings
  • Images
  • Perceptions
  • Attitudes

16
Building Customer-Based Brand Equity
  • Building a strong brand involves a series of
    steps as part of a branding ladder
  • A strong brand is also characterized by a
    logically constructed set of brand building
    blocks.
  • Identifies areas of strength and weakness
  • Provides guidance to marketing activities

17
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18
Salience Dimensions
  • Depth of brand awareness
  • Ease of recognition recall
  • Strength clarity of category membership
  • Breadth of brand awareness
  • Purchase consideration
  • Consumption consideration

19
Performance Dimensions
  • Primary characteristics supplementary features
  • Product reliability, durability, and
    serviceability
  • Service effectiveness, efficiency, and empathy
  • Style and design
  • Price

20
Imagery Dimensions
  • User profiles
  • Demographic psychographic characteristics
  • Actual or aspirational
  • Group perceptions -- popularity
  • Purchase usage situations
  • Type of channel, specific stores, ease of
    purchase
  • Time (day, week, month, year, etc.), location,
    and context of usage
  • Personality values
  • Sincerity, excitement, competence,
    sophistication, ruggedness
  • History, heritage, experiences
  • Nostalgia
  • Memories

21
Judgment Dimensions
  • Brand quality
  • Value
  • Satisfaction
  • Brand credibility
  • Expertise
  • Trustworthiness
  • Likability
  • Brand consideration
  • Relevance
  • Brand superiority
  • Differentiation

22
Feelings Dimensions
  • Warmth
  • Fun
  • Excitement
  • Security
  • Social approval
  • Self-respect

23
Resonance Dimensions
  • Behavioral loyalty
  • Frequency and amount of repeat purchases
  • Attitudinal attachment
  • Love brand (favorite possessions a little
    pleasure)
  • Proud of brand
  • Sense of community
  • Kinship
  • Affiliation
  • Active engagement
  • Seek information
  • Join club
  • Visit web site, chat rooms

24
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25
Brand Positioning
  • Define competitive frame of reference
  • Target market
  • Nature of competition
  • Define desired brand knowledge structures
  • Points-of-parity
  • necessary
  • competitive
  • Points-of-difference
  • strong, favorable, and unique brand associations

26
Issues in Implementing Brand Positioning
  • Establishing Category Membership
  • Identifying Choosing POPs PODs
  • Communicating Establishing POPs PODs
  • Sustaining Evolving PODs POPs

27
Establishing Category Membership
  • Product descriptor
  • Exemplar comparisons

28
Identifying Choosing POPs PODs
  • Desirability criteria (consumer perspective)
  • Personally relevant
  • Distinctive superior
  • Believable credible
  • Deliverability criteria (firm perspective)
  • Feasible
  • Profitable
  • Pre-emptive, defensible difficult to attack

29
Major Challenges in Positioning
  • Find compelling impactful points-of-difference
    (MacMillan McGrath, HBR, 97)
  • How do people become aware of their need for your
    product and service?
  • How do consumers find your offering?
  • How do consumers make their final selection?
  • How do consumers order and purchase your product
    or service?
  • What happens when your product or service is
    delivered?
  • How is your product installed?
  • How is your product or service paid for?

30
Major Challenges in Positioning
  • Find compelling impactful points-of-difference
    (cont.)
  • How is your product stored?
  • How is your product moved around?
  • What is the consumer really using your product
    for?
  • What do consumers need help with when they use
    your product?
  • What about returns or exchanges?
  • How is your product repaired or serviced?
  • What happens when your product is disposed of or
    no longer used?

31
Communicating Establishing POPs PODs
  • Create POPs and PODs in the face of attribute
    benefit trade-offs
  • Price quality
  • Convenience quality
  • Taste low calories
  • Efficacy mildness
  • Power safety
  • Ubiquity prestige
  • Comprehensiveness (variety) simplicity
  • Strength refinement

32
Strategies to Reconcile Attribute Benefit
Trade-Offs
  • Establish separate marketing programs
  • Leverage secondary association (e.g., co-brand)
  • Re-define the relationship from negative to
    positive

33
Sustaining EvolvingPOPs PODs
  • Core Brand Values
  • Core Brand Proposition

34
Core Brand Values
  • Set of abstract concepts or phrases that
    characterize the 5-10 most important dimensions
    of the mental map of a brand.
  • Relate to points-of-parity and points-of-differenc
    e
  • Mental Map ? Core Brand Values ? Brand Mantra

35
Brand Mantras
  • A brand mantra is an articulation of the heart
    and soul of the brand.
  • Brand mantras are short three to five word
    phrases that capture the irrefutable essence or
    spirit of the brand positioning and brand values.
  • Nike
  • Authentic Athletic Performance
  • Disney
  • Fun Family Entertainment

36
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37
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38
Introduction to Advertising
  • Outline
  • The mandate for effectiveness
  • What makes an ad effective?
  • The world of advertising
  • The five players of advertising
  • The evolution of advertising

39
The Mandate for Effectiveness
  • Today advertising is in a bind
  • Advertisers expect specific results that lead to
    sales
  • Advertising must be effective

40
What Makes an Ad Effective?
  • Effective ads work on two levels with consumers
    and with advertisers
  • Characteristics of effective ads
  • Strategy
  • -
  • Execution
  • Advertising must be goal directed

Creativity
41
The World of Advertising
  • Defining advertising
  • A paid form of communication
  • A sponsor is identified
  • Tries to persuade or influence the consumer to do
    something
  • Conveyed through mass media
  • Reaches a large audience
  • Is nonpersonal

42
Types of Advertising
  • Business-to-business advertising
  • Institutional advertising
  • Public service advertising (PSA)
  • Interactive advertising
  • Brand advertising
  • Retail/local advertising
  • Political advertising
  • Directory advertising
  • Direct-response advertising

43
The Roles of Advertising
  • Marketing role
  • Communication role
  • Economic role
  • Societal role

44
Functions of Advertising
  • Provide product and brand information
  • Provide incentives to take action
  • Provide reminders and reinforcement

45
The Five Players of Advertising
  • Advertiser
  • Advertising agency
  • The advertising department
  • The in-house agency
  • Media
  • Vendors
  • Target audience

46
The Evolution of Advertising
  • Age of print
  • Industrial revolution and emergence of consumer
    society
  • Modern advertising Agencies, science and
    creativity
  • Accountability era

47
Current Advertising Issues
  • Interactive advertising
  • Globalization
  • Niche marketing
  • Integrated marketing communications (IMC)
  • Consumer Power

48
How Brands Work
  • Brand personalities
  • Branding
  • Trust
  • Brand image
  • Brand relationships
  • Brand equity

49
MARKETING PLANNING PROCESS
Complex, Varied Marketing Activity
Detailed, Rich Marketing Models
Comprehensive, Robust Marketing Measures
50
Role of Integrated Marketing Communications
  • Marketing communications
  • are the voice of the brand and are a means by
    which it can establish a dialogue and build
    relationships with consumers.
  • allow marketers to inform, persuade, incent, and
    remind consumers directly or indirectly
  • can contribute to brand equity by establishing
    the brand in memory and linking strong,
    favorable, and unique associations to it.

51
Role of Integrated Marketing Communications
(Cont.)
  • Consumers can be told or shown how and why a
    product is used, by what kind of person, and
    where and when
  • Consumers can learn about who makes the product
    and what the company and brand stand for
  • Consumers be given an incentive or reward for
    trial or usage
  • Brands can be linked to other
  • People
  • Places
  • Events
  • Brands
  • Experiences
  • Feelings
  • Things

52
Simple Test for Marketing Communications
  • 1. 3. 2.
  • Current Desired
  • Brand Brand
  • Knowledge Knowledge

53
Integrated Marketing Communications and
Customer-Based Brand Equity
  • One implications of the CBBE framework is that
    the manner in which brand associations are formed
    does not matter -- only the resulting strength,
    favorability, and uniqueness

54
Designing Integrated Marketing Communications
Programs
  • From the perspective of customer-based brand
    equity, marketers should evaluate all possible
    communication options available to create
    knowledge structures according to effectiveness
    criteria as well as cost considerations.
  • Different communication options have different
    strengths and can accomplish different objectives.

55
Alternative Communication Options(Consumer)
  • Media Advertising (TV, radio, newspapers,
    magazines)
  • Direct Response Advertising
  • Interactive (on-line) Advertising Web Sites
  • Outdoor Advertising (billboards, posters, cinema)
  • Point-of-Purchase Advertising
  • Trade Promotions
  • Consumer Promotions
  • Sponsorship of Event Marketing
  • Publicity or Public Relations

56
Alternative Communication Options(Business-to-Bus
iness)
  • Media Advertising (TV, radio, newspaper,
    magazines)
  • Trade Journal Advertising
  • Interactive (on-line) Advertising Web Sites
  • Directories
  • Direct Mail
  • Brochures Sales Literature
  • Audio-Visual Presentation Tapes
  • Giveaways
  • Sponsorship or Event Marketing
  • Exhibitions, Trade Shows, Conventions
  • Publicity or Public Relations

57
Print Ad Evaluation Criteria
  • Is the message clear at a glance?
  • Is the benefit in the headline?
  • Does the illustration support the headline?
  • Does the first line of the copy support or
    explain the headline and illustration?
  • Is the ad easy to read and follow?
  • Is the product easily identified?
  • Is the brand or sponsor clearly identified?

58
Ad Campaign Considerations
  • Campaigns make brands -- not single ads
  • Be creative and develop creative themes
  • Avoid slavishly sticking to executional formulas
  • Brand communications should sing like a choir
  • Multiple voices
  • Multiple notes
  • Find fresh consumer insights compelling brand
    truths
  • Productively conduct ad research

59
IMC Case StudyCMPB Success Factors
  • Smart strategy
  • Relative deprivation
  • Imaginative creative
  • Funny but relevant
  • Clever hook
  • Got milk? slogan
  • Timely secondary media
  • In store
  • Right partners

60
Common Mistakes in Developing Advertising
  • Failure to distinguish ad positioning (what you
    say) from ad creative (how you say it)
  • Mistaken assumptions about consumer knowledge
  • Improperly positioned
  • Failure to break through the clutter
  • Distracting, overpowering creative in ads

61
Common Mistakes in Developing Advertising(cont.)
  • Under-branded ads
  • Failure to use supporting media
  • Changing campaigns too frequently
  • Substituting ad frequency for ad quality

62
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63
Evaluating IMC Programs
  • Coverage - what proportion of the target audience
    is reached by each communication option employed,
    as well as how much overlap exists among options
  • Cost - what is the per capita expense

64
Evaluating IMC Programs (cont.)
  • Contribution - the collective effect on brand
    equity in terms of
  • enhancing depth breadth of awareness
  • improving strength, favorability, uniqueness of
    brand associations
  • Commonality - the extent to which information
    conveyed by different communication options share
    meaning

65
Evaluating IMC Programs (cont.)
  • Complementarity - the extent to which different
    associations and linkages are emphasized across
    communication options
  • Versatility - the extent to which information
    contained in a communication option works with
    different types of consumers
  • Different communications history
  • Different market segments

66
Keller Bes
  • Be analytical Use frameworks of consumer
    behavior and managerial decision-making to
    develop well-reasoned communication programs
  • Be curious Fully understand consumers by using
    all forms of research and always be thinking of
    how you can create added value for consumers
  • Be single-minded Focus message on well-defined
    target markets (less can be more)
  • Be integrative reinforce your message through
    consistency and cuing across all communications

67
Keller Bes
  • Be creative State your message in a unique
    fashion use alternative promotions and media to
    create favorable, strong, and unique brand
    associations
  • Be observant Monitor competition, customers,
    channel members, and employees through tracking
    studies
  • Be realistic Understand the complexities
    involved in marketing communications
  • Be patient Take a long-term view of
    communication effectiveness to build and manage
    brand equity

68
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