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Brand Management

This document defines key concepts in brand management. A brand identifies a seller's goods/services and differentiates them from competitors. Brands comprise tangible attributes like packaging and intangibles like quality and image. Building a brand involves activities to nurture it after launch like product development, advertising, and distribution. Brand equity refers to the premium value a brand commands over intrinsic product value. Strong brands with high equity give companies pricing power and opportunities for brand extensions. Building brand loyalty and distinguishing a brand's value proposition are important for brand development.

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Babasab Patil (Karrisatte)
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3K views24 pages

Brand Management

This document defines key concepts in brand management. A brand identifies a seller's goods/services and differentiates them from competitors. Brands comprise tangible attributes like packaging and intangibles like quality and image. Building a brand involves activities to nurture it after launch like product development, advertising, and distribution. Brand equity refers to the premium value a brand commands over intrinsic product value. Strong brands with high equity give companies pricing power and opportunities for brand extensions. Building brand loyalty and distinguishing a brand's value proposition are important for brand development.

Uploaded by

Babasab Patil (Karrisatte)
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPT, PDF, TXT or read online on Scribd
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Brand Management

What is a brand?
A brand is a name, term, sign, symbol, design or a combination of the above to identify the goods or service of a seller and differentiate it from the rest of the competitors

When you cannot do this


The product is a commodity

A brand comprises of
Tangible attributes Intangible attributes

Tangibles
Eg. Product Packaging Labelling Attributes Functional benefits

Intangibles
Eg. Quality Emotional benefits Values Culture Image

Brand Identity
It is the marketers promise to give a set of features, benefits and services consistently

Brand Building
Involves all the activities that are necessary to nurture a brand into a healthy cash flow stream after launch

What kind of activities?


Eg. Product development Packaging Advertising Promotion Sales and distribution

Brand Equity
When a commodity becomes a brand, it is said to have equity

What is brand equity?


The premium it can command in the market Difference between the perceived value and the intrinsic value

What happens when equity increases?

Commodity

Brand

Power Brands Presence + Personality

What happens when brands have high equity?


The company can have more leverage with the trade The company can charge a premium on their product The company can have more brand extensions The company can have some defense against price competition

Brand Loyalty Pyramid


1 1 1 Committed buyer Likes the brand. Considers it a friend Satisfied buyer. Would incur costs to switch Satisfied buyer/no reason to change Switchers/Price sensitive

How does one build brands?


Distinguishing it from others value proposition Brand promise must match brand delivery

The value proposition


Broad positioning Specific positioning Value positioning

Creating the brand


Choosing a brand name Develop rich associations and promises Managing customer brand contact to meet and exceed expectations

Considerations in choosing a brand name


What does the brand name mean? What associations / performance / expectations does it evoke ? What degree of preference does it create?

A brand name should indicate


Product benefits Product quality Names easy to remember, recognise, pronounce Product category Distinctiveness Should not indicate poor meanings in other markets or languages

Brand Associations
owned word Slogans Colours Symbols and logos

Brand Status
E S T E E M Step up advertising Cash Cow.Need to Sustain brand building activities

New Product Or Product should be phased out

Troubled brand Product upgradation required

FAMILIARITY

Brand ambassadors
Giving a face and personality to the brand that is expected to be rubbed off from the brand ambassador

Brand Vitality
Differentiation in consumers need Differentiation relevant to consumers need

Brand Pitfalls
Brand experience must match brand image Calls for managing every brand contact

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