Brands and Branding
Brands and Branding
What is a Brand?
A brand is a name, term, sign, symbol, or design which is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
Knowledge Esteem
The culmination of brand building efforts; acquisition of consumer experience Consumer respect, regard, reputation; a fulfillment of perceived consumer promise Relates to usage and subsumes the 5 Ps of marketing; relates to sale The basis for consumer choice; the essence of the brand, source of margin
Relevance
Differentiation
STEPS
Identify and Establish Brand Positioning and Values
KEY CONCEPTS
Mental maps Competitive frame of reference Points-of-parity and points-of-difference Core brand values Brand mantra Mixing and matching of brand elements Integrating brand marketing activities Leveraging of secondary associations Brand Value Chain Brand audits Brand tracking Brand equity management system Brand-product matrix Brand portfolios and hierarchies Brand expansion strategies Brand reinforcement and revitalization
SALIENCE
1. IDENTITY =
Salience Dimensions
Depth of brand awareness
Ease of recognition & recall Strength & clarity of category membership
Performance Dimensions
Primary characteristics & supplementary features Product reliability, durability, and serviceability
Price
Imagery Dimensions
User profiles
Demographic & psychographic characteristics Actual or aspirational Group perceptions -- popularity
Judgment Dimensions
Brand quality
Value Satisfaction
Brand credibility
Expertise Trustworthiness Likability
Brand consideration
Relevance
Brand superiority
Differentiation
Feelings Dimensions
Warmth Fun Excitement Security Social approval Self-respect
Resonance Dimensions
Behavioral loyalty
Frequency and amount of repeat purchases
Attitudinal attachment
Love brand (favorite possessions; a little pleasure) Proud of brand
Sense of community
Kinship Affiliation
Active engagement
Seek information Join club Visit web site, chat rooms
ConsumerBrand Resonance
Consumer Judgments
Consumer Feelings
Brand Performance
Brand Imagery
Brand Salience
PRIMARY CHARACTERISTICS & SECONDARY FEATURES PRODUCT RELIABILITY, DURABILITY & SERVICEABILITY SERVICE EFFECTIVENESS, EFFICIENCY, & EMPATHY STYLE AND DESIGN PRICE
USER PROFILES PURCHASE & USAGE SITUATIONS PERSONALITY & VALUES HISTORY, HERITAGE, & EXPERIENCES
POSITIONING A BRAND
Why? For Whom?
When?
Against whom?
KFC : McDonalds
Have you ever wondered why... After four
years in India, Kentucky Fried Chicken (KFC) is struggling with four outlets, while McDonald's already has 16 in just two-anda-half years?
Head to Head
Lee : Levis
Have you ever wondered why Lee is lording it over the premium jeans market in India while Levi's, the Original American Jeans, is still trying to get its act together?
The Levis
Head to Head
Santro : Matiz
Hyundai has sold 20,000 Santro cars till April this year against the 5,000-odd that Matiz from Daewoo has against its name, though both hit the market almost together? And despite the fact that the Matiz outsells the Atoz (the Santro by another name) across the world, and the Matiz is the first Euro-II compliant car in its category?
Head to Head
SONY: STAR
Sony TV, beaming just one channel, took merely two years to hit a turnover of Rs 220 crore while Rupert Murdoch's Star, with seven channels in its armoury, only expects to clock in Rs 300 crore this year, after being in the country for over seven years?
Head To Head
Few Illustrations
Cokes Rural Thrust Hero Hondas Rural Thrust Mahindras Successful Dual Avtar
Branding Decisions
Assign one brand name all of the organizations offerings (GE, Sony) OR Assign one brand name to each line of offerings (Automobiles) OR Assign individual names to each offering (P&G, Unilever)
Branding Decisions
Using a single brand name
Advantage
Easier to introduce new offerings when the brand name is familiar to buyers
Disadvantage
Can have a negative effect on existing offerings if a new offering fails
Sub-branding
combining a family brand with a new brand
Branding Decisions
Decide whether or not to supply an intermediary with its own brand name.
What are the costs/revenues? Is there excess capacity?
Branding Decisions
New products New Brand New Brand Strategy Existing products Fighting/Flanker Brand Strategy
Flanker Brand Strategy Involves adding a new brand on the high or low end of a product line based on a price-quality continuum (Marriott Hotels). Fighting Brand Strategy Involves adding a new brand whose sole purpose is to confront competitive brands in a product class being served by an organization. (Frito-Lays Santitas used to fight regional tortilla chip brands).
Thank You