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IMC: Corporate Image and Brand Management

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Corporate Image and Brand Management Chapter 2 with Duane Weaver OUTLINE Corporate Image Roles Consumer role B2B role Corporate role Promoting Desired Image ... – PowerPoint PPT presentation

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Title: IMC: Corporate Image and Brand Management


1
IMCCorporate Image andBrand Management
  • Chapter 2 with Duane Weaver

2
OUTLINE
  • Corporate Image Roles
  • Consumer role
  • B2B role
  • Corporate role
  • Promoting Desired Image

3
Components of aCorporate Image
Tangibles Intangibles
Goods and services Corporate, personnel, and environmental policies
Retail outlets (sale) Ideals and beliefs of corporate personnel
Factories (produce) Culture of country and location of company
Communication media ads, promos, literature, docs Media reports
Name/Logo
Packaging Labeling
Employees
4
Corp. Image Role - consumers view
  • Assurance of familiar products(e.g. Coke)
  • Assurance of familiar company(e.g. IBM)
  • Reduction of purchase research time
  • Psychological reinforcement social acceptance

5
Corp. Image Role-B2B view
  • Reduce feelings of risk
  • Reduce search time
  • Psychological reinforcement social acceptance

6
Corp. Image Role corporations view (self-view)
  • Extends ve consumer feelings to new products
  • Enables higher pricing
  • Enables increased repeat buying
  • Endorses ve W.O.M.
  • Attracts quality employees
  • Increased financial viability as ranked by
    analysts and corp. raters

7
Promoting Desired Image
  1. Image must accurately portray firm and coincide
    with products and services sold.
  2. Easier to re-enforce or rejuvenate than it is to
    change well-established (e.g. New Coke vs. Coke
    Classic)
  3. Difficult to next to impossible to develop new
    image (sometimes divorce and/or new company is
    easier)
  4. Recovering from ve or bad press happens fast
    (overnight) building/rebuilding can take years!

8
Branding discovering why consumers buy a brand
  • Most compelling Benefits?
  • Emotions elicited by the brand?
  • One-word encapsulation?
  • Importance to customers?
  • Get in your teams and write down two company
    brand names you feel are the best in their
    industry. Explain how the above four criteria are
    demonstrated by the brand name that make it the
    best.

9
Packaging
  • What do they say to us?

10
Packaging
  • Same? What do they say differently to us?

11
Brand Equity
  • Brand equity has been also defined as
  • The component of overall preference not explained
    by objectively measured attributes and
  • The set of consumer associations behaviours
    that permits the brand to earn greater volume or
    margins than it could without the brand name.

http//www.ag.state.co.us/mkt/BrandEquityandImageA
ssess.pdfsearch'logo20images20brandequity
(retrieved Jan/05/2006), Brand Werks Group,
12
Brand Equity
  • Brand image is everything. It is the sum of all
    tangible intangible traits the ideas,
    beliefs, values, prejudices, interests, features
    ancestry that make it unique. A brand image
    visually collectively represents all internal
    external characteristics the name, symbol,
    packaging, literature, signs, vehicles culture.
    It's anything everything that influences how a
    brand or a company is perceived by target
    constituencies or even a single customer.
  • Brand image may be the best, single marketable
    investment a company can make. Creating or
    revitalizing a positive brand image is a basic
    component of every business and lays a
    foundation on which companies can build their
    future.

http//www.ag.state.co.us/mkt/BrandEquityandImageA
ssess.pdfsearch'logo20images20brandequity
(retrieved Jan/05/2006), Brand Werks Group
13
Brand Extensions and Flanker Brands
  • Brand Extension
  • Use established brand name for unrelated goods
    and services(reaching new markets with new
    product lines)
  • Black Decker power tools, flashlights,
    household appliances (toaster, iron, kettle)
  • Flanker Brand
  • Develop a new brand within a related product
    category(increase market mix to reach new target
    segments)
  • Tide Cheer, Ivory Snowetc.

14
Co-Branding
  • Ingredient branding
  • Intel inside compaq
  • Cooperative branding
  • Joint venture e.g. Citbank, Mastercard and
    American Airlines points card
  • Complementary branding
  • Encourage co-consumption of more than one brand
    such as Oreo shakes in Dairy Queen

15
Private Brands
  • Exclusive lines
  • Used to be higher priced now lower priced
  • Use to have higher quality perception now not
    always
  • Retail loyalty up but brand loyalty down
  • E.G. Sears (Kenmore)

16
Positioning
  • The process of creating a perception in the
    consumers mind regarding the nature of a company
    and its products relative to the competition
  • (Clow Blaack, p. 48)
  • 7 ways to achieve effective positioning

17
THANKS!
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