BRAND MANAGEMENT PRODUCT Anything that can be offered to a market for attention, acquisition, use, or consumption that might

satisfy a need or want BRAND A name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition WHAT CAN BE BRANDED? Physical goods Services Stores People Places Organizations Ideas

COMMODITIES A product so basic that it cannot be differentiated physically and in the minds of consumers THE IMPORTANCE OF BRANDING TO CONSUMERS Identification of the source of the product Assignment of responsibility to the product maker Risk reducer Search cost reducer Promise, bond, or pact with product maker Symbolic device Signal of quality

TO MANUFACTURERS Means of identification to simplify handling or tracing Means of legally protecting unique features Signal of quality level to satisfied customers Means of endowing products with unique associations Source of competitive advantage

Source of financial returns

THE FINANCIAL VALUE OF BRANDS

BRAND Coca-Cola
REDUCING CONSUMER RISKS THROUGH BRANDING Functional risk Physical risk Financial risk Social risk Psychological risk Time risk

CAPITALIZA (Billion

$105.5

Microsoft IBM GE

$272.3

$121.4

BRAND MANAGEMENT CHALLENGES Savvy customers More complex brand families and portfolios Maturing markets More sophisticated and increasing competition Difficulty in differentiating Decreasing brand loyalty in many categories Growth of private labels Increasing trade power Fragmenting media coverage

$391.7

Intel

$169.5

Nokia

$77.9

Eroding traditional media effectiveness Emerging new communication options Increasing promotional expenditures Decreasing advertising expenditures Increasing cost of product introduction and support Short-term performance orientation Increasing job turnover

THE STRATEGIC BRAND MANAGEMENT PROCESS

IDENTIFY AND ESTABLISH MARKETING ADVANTAGES OF STRONG BRANDS BRAND Improved perceptions of product performance Greater loyalty Less vulnerability to competitive marketing actions POSITIONING Less vulnerability to marketing crises Larger margins AND VALUES More inelastic consumer response to price increases
More elastic consumer response to price decreases Greater trade cooperation and support Increased marketing communication effectiveness Possible licensing opportunities Additional brand extension opportunities

PLAN A IMPLEME BRAND MARKET PROGRA

Mental maps Mixing an CUSTOMER-BASED BRAND EQUITY Competitive The differential effect that brand knowledge has on consumer responsematching to the marketing of that brand. It occurs when the consumer has a high level of awareness frame of and familiarity with the brand and holds some strong, favorable, and unique brand brand associations in memory reference Brand equity ultimately depends on what resides in the minds of consumers elements Points-ofBUILDING BRAND EQUITY Integrating parity and THE FOUR STEPS OF BRAND BUILDING brand points-ofmarketing difference activities Core brand

STAGES OF BRAND DEVELOPMENT 4. RELATIONSHIPS STEP 1 What about you WHO ARE YOU? and me? BRAND IDENTITY

CUSTOMER-B P

Ensure identification of the brand with customers and an association of the brand in customers minds with a specific product class or customer need

STEP 2 WHAT ARE YOU? BRAND MEANING Firmly establish the totality of brand meaning in the minds of customers by strategically linking a host of tangible and intangible brand associations with certain properties

STEP 3

3. RESPONSE What about you?

WHAT ABOUT YOU? WHAT DO I THINK OR FEEL ABOUT YOU? BRAND RESPONSES Elicit the proper customer responses to this brand identification and brand meaning

JUD

STEP 4

2. MEANING What are you?

WHAT ABOUT YOU AND ME? WHAT KIND OF ASSOCIATION AND HOW MUCH OF A CONNECTION WOULD I LIKE TO HAVE WITH YOU? BRAND RELATIONSHIPS Convert brand response to create an intense, active loyalty relationship between customers and the brand

BRAND SALIENCE Measures awareness of a brand, particularly how often and how easily the brand is evoked under various conditions or circumstances BRAND AWARENES The strength of the brand or traces in memory, which can be measured as the consumers ability to identify the brand under different conditions

JUD Q Cre Cons Sup

PERFORMANC

Q1. When thinking abou your mind? _______

Q2. What else? _______ TOP-OF-MIND AWAREN _______ _______ _______

ADVANTAGES OF BRAND AWARENESS LEARNING ADVANTAGES

Influences the formation and strength of the associations that make up the brand image

Q3. (For brands not m mentioned)? Do you Armour

CONSIDERATION ADVANTAGES Increases the likelihood that the brand will be a part of the consideration set, or those few brands that receive serious consideration for purchase

CONSIDERATION SET
CHOICE ADVANTAGES Can affect choices among brands in the consideration set, even if there are essentially no other associations to those brands DEPTH OF AND BREADTH OF BRAND AWARENESS DEPTH OF BRAND AWARENESS

Measures how likely it is for a brand element to come to mind, and the ease with which it does so BREADTH OF BRAND AWARENESS

Measures the range of purchase and usage situations in which the brand element comes to mind and depends to a large extent on the organization of brand and product knowledge in memory

Purefoods CDO Armour Barneys Swifts

TYPES O
DESIRE COMPETITORS

BRAND RECOGNITION Consumers ability to confirm prior exposure to the brand when given the brand as a cue BRAND RECALL

Consumers ability to retrieve a brand from memory when given the product category, or a purchase or usage situation as a cue BRAND IMAGE Consumers perceptions about a brand, as reflected by the brands associations held in consumer memory

GENERIC COMPETITORS

SOURCES OF BRAND IMAGE From company marketing activities From direct experience Through information from other commercial or nonpartisan sources From word of mouth By assumption or inferences consumers make about the brand itself

FORM COMPETITORS

BRAND PERFORMANCE Describes how well a product or service meets customers more functional needs

BRAND IMAGERY Refers to the more intangible aspects of a brand, which depends on the intrinsic properties of the product or service, including the ways in which the brand attempts to meet customers psychological or social needs BRAND JUDGMENTS Customers personal opinions and evaluations of a brand, which they form by putting together all the different brand performance and imagery associations BRAND FEELINGS Customers emotional responses and reactions to a brand BRAND RESONANCE Describes the nature of the ultimate relationship and level of identification that the customer has with the brand