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Brand Management


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What is brand?
name, term, sign, symbol or design or combination of them, intended to identify the goods & services for one seller or group of sellers & to differentiate them from those of competition.
How do we contrast a brand & product?
brand is more than a product. brand can differentiate the same product.
what is the 5 levels of meanings for product?
1.core benefit level 2.generic product level 3.expected product level 4.augmented product level 5.potential product level
Why brands are so valuable for customers? what are the roles that brands play?
-identification of source/maker of product -assignment of responsibility to product maker -simplify/shortcut for customer product decisions -search cost reducer -trust & loyalty with maker of product -symbolic device -signal of quality (search, experience and credence goods) -risk reducer (functional, psychological, physical, financial time risk)
Why brands are so valuable for firm? what are the roles that brands play?
-means of identification to simplify handling& shipping -means of legally protecting unique features. (licensing) -signal of quality level of satisfied customers -means of providing products with unique associations -source of competitive advantage and financial returns
Can everything be branded?
YES. marketers must give consumers a label for the product and meaning for the brand. -physical goods (coke, nescafe...) -services -retails & distributers (Wal-Mart) -online products ( -people (paul newman) -sports, arts & entertainment -geographic locations ( vegas, NYC) -Ideas & causes ( breast cancer pink ribbons)
What are the strongest brands and what are the advantages?
Coca-cola, Microsoft, IBM, GE... -improve perception of product performance -greater loyalty -gain profit margin -increase support -licensing opportunity
Why it is so difficult to manage brands? what are the challenge to brand builders?
-savvy customers -brand increase -media fragmentation -increased competition -growth of private label -increased costs of new product introduction
how can differentiate in outcomes arise from added value?
creating brand equity and reinforces how important the brand is in marketing strategies.
how do we build, measure manage brand equity?
strategic brand management: 4 steps: 1. identify & establish brand positioning & values -mental map -POP&POD -core brans associations -brand mantra 2. planning & implement brand marketing programs -mixing & matching of brand elements -integrating brand marketing activities -leveraging secondary association 3.measure & interpret brand performance -brand audit -brand value chain -brand tracking -brand management system 4.grow & sustain brand equity -brand-product matrix -brand portfolios & hierarchies -brand expansion strategies -brand reinforcement and revitalization
How do you build a strong brand?
customer based brand equity it approaches brand equity from the perspective of the consumers -differential effect that brand knowledge has on consumer response to the marketing
what do you mean by brand equity as bridge?
-reflection of the past: quality os more critical factor than quantity -direction of the future: consumers will decide based on their brand beliefs and attitude.
what is the key to create brand equity?
brand -knowledge: brand node in memory with a variety of associations linked to it.
what are the 2 components of brand knowledge?
-brand awareness -brand image
when does CBBE occur?
when the customer has a high level of awareness & familiarity with the brand & holds some strong favorable & unique brand associations in memory
what is brand awareness? what are the advantage of having high awareness?
brand recognition & brand recall -learning advantage -consideration advantage -choice advantage
how do you create brand awareness?
-increase the familiarity of the brand through repeated exposure (brand recognition) -increase association with the appropriate product category or relevant purchase cues. (brand recall)
what is brand image? what are the advantages of having strong brand image?
it is a brand associations -strength of brand association -direct experience=> strong brand attribute -TV commercial => weak brand attribute -favorability of brand association -desirability (how relevant, distinctive, believable) -deliverability (how the product performs now & n the future) -uniqueness of brand association -USP
how do you build brand?
4 steps: 1.brand identity 2.brand meaning 3.brand response 4.brand relationship
what are the brand pyramid?
1.salience 2.performance 3.imagery 4.judgement 5.feelings 6.resonance
explain each elements of brand pyramid
salience: -breadth&depth of awareness -product category structure -product + class -product + category -product + type -product + information -importance of top-of-mind & the right place right time. performance: -5 important types of attributes: 1.primary ingredients & supplementary features 2.product reliability, durability, serviceability 3.service effectiveness, efficiency, empathy & design 5.price imagery: intangible aspects of brand 4 main intangibles: 1.user profiles 2.prchase & usage situations (time, type) 3.personality & values 4.history, heritage & experience judgement: 1.brand quality 2.brand credibility (brand expertise, trustworthiness, likability) 3.brand consideration 4.brand superiority (differentiation) feelings: -transformational advertising 6 types of brand building feelings: -warmth -fun -excitement -security -social approval -self-respect resonance: they are in sync with the brand 1.behavioral loyalty 2.attitudinal attachment 3.sense of community engagement
what are the important brand tenets?
-customer owns brands -don't take shortcuts with brands -brand should have a duality -brand should have richness -brand resonance provides important focus
what are the steps of brand positioning?
1.who is the target market? -4 bases segmentation: 1.behavioural 2.demographic 3.psychographic 4.geographic 2.who are the main competitors? -do NOT define competition too narrowly. 3. how is the brand similar to competitors? -POP ( category and competitive) is the brand different from competitors? -performance base and imagery base
how do marketers identify brand mantras?
step1: mental map step2: core brand association step3: brand mantra -brand function -descriptive modifier -emotional modifier
what are the steps for brand audits?
step1: brand inventory (supply side) -profile -base for positioning map -insights brand equity -assess consistency -POP POD -brand element step2:brand exploratory -brand association -brand positioning -CBBE
how to choose the best brand elements?
-memorability -meaningfulness -likability -transferability -adaptability -protectabilitty -global branding mishaps
what is the naming procedures?
1. define objectives 2.generate names 3.sreen initial candidates candidate names 5.research the final candidates the final name
what are the advantages to have logos & symbols?
-versatile -when the full brand name is difficult to use for any reason, -easily adapted over time
what are the advantage and disadvantage to have characters?
advantage: -increase brand awareness -increase likability -easily adapted across products disadvantage: -possibility of dampen brand awareness ( too much attention to character) -must update over time
what are the advantages to have slogans?
-increase brand awareness -reinforce the message of a particular campaign
what are the functions of packaging?
-identify the brand -convey descriptive persuasive information -facilitate product transportation & protection -assist at home storage -aid product consumption
what are the derives of the new economy?
-digitization & connectivity -disintermediation & reintermediation -customization & customerization -industry convergence
what is the one of the approach for personalizing marketing?
experiential marketing: promote a product by not only communication a product's features & benefits but also connecting it with unique & interesting experiences.
what are the five different types of experiences that Schmitt stated?
1.sense 2.feel 3.think 4.act 5.relate
what are the guidelines for experimental marketing?
1.experiences must be planned. 2.think about the customer experience first! obsessive about DETAILS of experience 4.add a little element that stylized the experience 5.think consumption situation-not product/service 6.holistic experience 7.use the experiential GRID(SEM..) 8.Use different method

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