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BRAND BUILDING & BRAND MANAGEMENT

What is brand ?

Brand
Brand is a name, term, sign, symbol or design or combination of them intended to identify the good and services of one seller from its competitors.

Brands are differentiated functional, rational or tangible.

Scope of branding

Branding is endowing products and services with the power of brand. It all about creating differences. Branding creates an identity.

Brands needs to have meaningful differences in order to have value.


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Marc Gobe : The biggest misconception in branding strategies


is the belief that branding is about market share when it really

always about minds and emotions share .

Ex :- J&J, Dettol, Horlicks, LIC, SBI, Amul, etc.


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Branding can be applied where ever consumer has a choice.


Branding can be done to Physical good, Service, Stores, Personality, places, organization, idea.

Brand Equity
It is the added value endowed on products and services, which
may be reflected in the way consumers, think, feel, and act with respect to the brand.

Customer based BE : is the differential effect that brand knowledge has on consumer response to the marketing of the brand
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A brand promise is the marketers vision of what the brand must be and do for consumers. Brand knowledge consists of all the thoughts, feelings experiences and beliefs associated with the brands .
Ex : Tata ( trust), Volvo ( safety)
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Brand Equity Models


Brand Asset Valuator Aaker Model BRANDZ Brand Resonance

Brand asset valuator


Developed by Young & Rubicam. 1. Differentiation : extent of difference

2. Energy : sense of momentum


3. Relevance : breadth of brands appeal

4. Esteem : amount of respect and regard


5. Knowledge : familiarity and intimacy with the brand
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Brand stature
High Earnings\High Potential

Low Earnings\High Potential High E\Low P

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BRANDZ
Developed by Millward Brown and WPP.
Brand building follows a sequential series of steps.

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BRANDZ

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AAKER Model
Developed David Aaker.

Brand equity is brand awareness, loyalty and brand association


that combine to add to or deduct from the value provided by the product or service. Brand identity consist of 8-12 elements product scope, attributes, quality, value, use, users, country of origin,

organizational attributes, brand personality and symbols.


Other elements of identity : texture and guidance. Brand essence can also
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create identity.

Brand Resonance
It states brand building as a series of steps
a) Ensuring identification and association of the brand in customers mind with a specific product class or customer need. b) Establishing totality of brand meaning in the minds of customers by strategically linking a host of tangible and intangible brand associations
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Continued
c) Elicit consumer responses in terms of customer feelings
and judgments. d) Converting brand response to create an intense, active loyalty relationship between customers and the brand.

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Building Brand equity


Three main steps of brand equity drivers :
a) The initial choices for the brand elements, or identities making up the brand ( names, logos, symbols, personality jingles, packages, URLs etc. b) The product, service and all accompanying marketing activities and supporting programs. c) Association of the brand with some personality or entity.
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Choosing brand elements


Brand elements are distinct attributes that identify and
differentiate the brand. Six main criteria : a) Memorable b) Meaningful c) Likable d) Transferable e) Adaptable f) Protectable

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Concepts
Integration marketing : It is about mixing and matching marketing activities to maximize their individual and collective effects. Brand audit : Customer focused series of procedures\activities to assess the status\health of the brand. Brand valuation : Estimating the total financial value of the brand.
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Brand revitalization : Revival of the brand due to competition , changes in consumer preferences and marketing environment. POPs ( Points of parity) : Attributes or features that are not unique to any brand which is shared by many brands. PODs ( Point of Difference) : They are attributes or benefits consumers strongly associate with a brand which they believe they could not get in any other brand. Ex : Dettol and Savlon, 22 Floor and toilet cleaners

Branding strategies
Co-branding :- It involves tying our brand with other brands. It leverages the brand equity of other brands to create distinct products. Ex :- SBI and Indian Railways Jet airways and Citi bank. Dell Microsoft and Intel
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Ingredient branding
Its a special case of co-branding. It creates brand equity for materials or components that are utilised in the branded product. Ex : Fiat Linea with Ferrari engine. Dell, IBM with Intel processors.

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Umbrella branding

The introduction of new products by labeling more than


one product with a single brand name [Sattler et al., 2005].

Umbrella branding is a form of economies of scope, as it economizes on the costs of creating a new brand [Cabral, 2007]

Ex : Tata , Virgin
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Brand Management
Brand management is the act of designing and implementing
marketing programs to build and maintain brand equity.

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Strategic brand management process


1) 2) 3) 4)

Identifying and establishing brand positioning.


Planning and implementing brand marketing Measuring and interpreting brand performance. Growing and sustaining brand value

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SBM Process

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Brand-Product Matrix
1 A Brands B C Products 2 3 4

Must define:

Brand-Product relationships (rows)


Line and category extensions

Product-Brand relationships (columns)


Brand portfolio
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Brand association Maps


Visual map that gives a comprehensive understanding of key
dimensions, including product attributes, messaging elements and competitive and category sets.

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The Brand Value Chain


Marketing Program Investment
Product Trade Employee Other

Customer Mindset
Awareness Associations Attitudes Attachment Activity Communications

Brand Performance
Price premiums Price elasticities Market share Expansion success Cost structure Profitability

Shareholder Value
Stock price P/E ratio Market cap

Program Quality Multipliers


Clarity Relevance Distinctiveness Consistency

Marketplace Conditions
Competitive reactions Channel support Customer size & profile

Investor Sentiment
Market dynamics Growth potential Risk profile Brand contributions
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Source: Keller and Lehmann (2003), How Do Brands Create Value, Marketing Management, May-June, 27-31

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The Role of a Brand or Product Manager


Prepare Marketing Plan

Develop Copy, Programs, and Campaigns


Stimulate Sales and Distribution Market Intelligence

Product Improvements

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Brand Management Issues


Purchasing Promotion Services R&D Manufacturing Legal
Market Research Advertising Agency

Media
Packaging Sales force

Brand Manager

Distribution Fiscal Publicity

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