Brand Mgmt Ppts

Brands

What is a Brand ?y

Tough QuestionBrands are intangible assets and conditional one Simply put: brand is a name that influences ** buyers- It will exist only when it has acquired the power to influence the market. ** Influence relies on REPRESENTATION system of mental association RELATIONSHIP-emotional relationship Keller

A brand is a system of signs and symbols that engages the consumer in an imaginary/symbolic process that contributes tangible value to a product offering.

Customer empowerment: internet, media Savvy customers y Brand proliferationy Media fragmentation y Erosion of traditional media and growth of new platformsy

y y y

y y y

Minimal differentiation Increased competition Increasing costs of production, promotion, support Focus on short-term Growth of private labels Increasing trade power

The Challenges PORTERS UNLEASHED!

Even brand communication is shiftingy y y y

SHARE OF VOICE MONOLOGUE TV LED 360 AROUND TV

y y y y

SHARE OF CONVERSATION DIALOGUE IDEA DRIVEN/LED TV AS A PART OF 360

Consumers

Manufacturers

Identification-source y Assigning responsibility to manufacturer y Risk reducer- function, physical,y

y y y y y y

financial, social, psychological, time

Search cost reducer y Promise, bond, pact y Symbolic device y Sign of qualityy

ID to manage product Providing legal protection Signalling quality Endowing product with unique associations Competitive advantage Financial returns

Why Brand ?

Brands are Living SystemBRAND CONCEPT (VALUE PROPOSITION) TANGIBLE AND INTANGIBLE

BRAND NAME, SYMBOLS SEMIOTIC INVARIANTS exploring signs and symbols as if they behave like a language, and within the context of culture

PRODUCT/SERVICE EXPERIENCE

BRAND THEORY CLASSIFICATIONAPPROACH KEYWORD BRAND PERSPECTIVE CONSUMER PERSPECTIVE MANAGERIAL KEYWORD SUPPORTING THEME BRAND VALUE CREATION ECONOMIC PRE 85 IDENTITY MID 90S CONSUMER 1993 PERSONALITY 1997 RELATIONAL 1998 COMMUNITY 2001 MARKETING MIX CORPORATE BRANDING, IMAGE CBBE, BRAND IMAGE BRAND PERSONALITIES BRAND RELATIONSHIP BRAND COMMUNITIES, INTERNET GLOBALIZATION, ICONS, NO LOGO FUNCTIONAL CORPORATE COGNITIVE PSYCHOLOGY HUMAN HUMAN ECONOMIC MAN STAKEHOLDER COMPUTER PSYCHOLOGICAL EXISTENTIAL BEING CONTROL MONOLOGUE PROGRAMMING SYMBOLIC EXCHANGE FRIENDSHIP 4PS REPUTATION , IDENTITY INFO-PROCESSING PERSONALITY, CONSUMER SELF ANIMISM , RELATIONSHIP THEORY CONSUMPTION SUBCULTURE MARKETER CONSUMER AS ABOVE CONSUMER MARKETER MARKETER CONSUMER AS ABOVE

SOCIAL

TRIBE MEMBER

DISCRETION

MARKETER

CULTURAL 2000

CULTURAL

HOMO MERCANS BIRD PRESPECTIVE

CONS CONS CITIZEN-BRAND MARKETER PROSPECT CULTURE CONSUMER

WHAT IS A BRAND ?

ASSETS-STRENGTHSASSETS-STRENGTHS-VALUEAssets(learnt mental association and affects) --- awareness, reputation, perceived value , personality, patents y Brand Strengths(status-behavioral)--Market share, leadership, penetration, growth, loyalty rate, price premium y Brand value(future projection)--- Net discounted cash flow- post cost of capital to produce and run the business and the cost of marketingy

Classical Model of Consumer ChoiceNeed/opportunity recognition y Information search y Evaluation of alternatives y Purchase y Outcomes of purchasey

Keywords in Brand ManagementArchitecture: structure organising the portfolio : monolithic-individually branded :endorsed brands y Audit: health-a. inventory internal detailed description as to how exactly the brand is marketed b. exploratory- what the brand means to the consumery

Community: social interactivity with the brand via community . implies shift in negotiating power y Culture: either organisational culture of brand or brands role in the broader cultural landscape y Equity: value in terms of strategy or finance a consumer perceives BE as the value added to the functional product/service by associating it with the brand name Keller- build only via strong-favourable-unique brand association and always in this order.y

y

Essence: every brand has an identity which contains an essence/DNA/Kernel/mantra. The heart and soul of the brand, often abstract but uncompromised.EMOTIONAL MODIFIER, DESCRIPTIVE MODIFIER, BRAND FUNCTION

Extension: If brand is extended to a product category or to clients in a way that does not fully respect the core of the brand, both brands risk dilution. y Genealogy: Brand through transition of culture- success depends on how large role they play.y

Icon: status y Identity: set of associations which is created and maintained.Vision, uniqueness, clear-cut-long lasting and permanent in nature y Loyalty: CA>>>CR y Personality: extroversion-agreeable-consciousness/cultured-emotional stabilityopenness- the rule of 5 y Portfolio : range, - depends on architecture, strategy and policyy

Positioning: TOM, Al Reis y Relation: - how and why brand is consumed. Brand as partners y Revitalization: finding and re-inventing the brand vision for existing/new customers. y Strategy: enhancing internal and external opps. For the brand strategic, visionary and proactive. y Stretch: identity into NP categories, cobranding, trick is not to dilute essence.y

Co-branding: alliance, bundling y Corporate Brand: Brand House vs house of brands y Employee Branding: living the brandDisney, Fedex y Employer Brand: HCL, Infosys, Google y Product Brand: y Service Brand: --the x-factor is highest y Viral Branding: consumers take over the brandy

Perception is more important than reality !Brand Attributes Consumer Benefits

InvolvementSymbolic Meaning Emotional Realm Personal authenticity Reassurance

Social language of the brand Self enhancement Self-positioning transformation of experience Safe choice

Functional Realm

Keeping promises of performance

Easy choice Certainty in an uncertain world Replicability of satisfaction

Involvement: Factors driving thisLow inexpensive Price Purchase Frequency Symbolic Meaning Social visibility Time commitment Potential to harm Technical complexity High expensive

No product is low involvement for every person all the time

CustomerCustomer-based Brand Equity Model

Four Questions Customers ask of Brands1. 2. 3. 4.

Who are you? (brand identity) What are you? (brand meaning) What about you? What do I think or feel about you? (brand responses) What about you and me? What kind of association and how much of a connection would I like to have with you? (brand relationships)2.26

CustomerCustomer-Based Brand Equity Pyramid4. RELATIONSHIPS = RESONANCE What about you and me?

3. RESPONSE = JUDGMENTS FEELINGS What about you?

2. MEANING = PERFORMANCE IMAGERY What are you?

1. IDENTITY =

SALIENCE2.27

Who are you?

CustomerCustomer-Based Brand Equity ModelConsumerBrand ResonanceINTENSE, ACTIVE LOYALTY

Consumer Judgments

Consumer Feelings

RATIONAL & EMOTIONAL REACTIONS

Brand Performance

Brand Imagery

POINTS-OFPARITY & POINTS-OFDIFFERENCE

Brand Salience

DEEP, BROAD BRAND AWARENESS

SubSub-Dimensions of CBBE PyramidLOYALTY ATTACHMENT COMMUNITY ENGAGEMENT

QUALITY CREDIBILITY CONSIDERATION SUPERIORITY

WARMTH FUN EXCITEMENT SECURITY SOCIAL APPROVAL SELF-RESPECT

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

CATEGORY IDENTIFICATION NEEDS SATISFIED

Salience Dimensionsy

Depth of brand awarenessEase of recognition and recall Strength and clarity of category membership

y

Breadth of brand awarenessDoes the brand come to mind in a variety of consumption situations? (Soft drinks have great breadth)

2.30







Performance Dimensionsy

Primary ingredients and supplementary features (Dove/Intel/Teflon) Product reliability (consistency of performance over time and from purchase to purchase), durability, and serviceability (ease of repairing)

y

2.32

Performance Dimensionsy

Service effectiveness, efficiency (speed and responsiveness), and empathy Style and design Price

y y

2.33







Imagery Dimensionsy

User profilesGender: Marlboro is masculine;Venus razors are feminine Age: Pepsi is very young Income: BMW is for yuppies Psychographic (lifestyle)

y

Purchase and usage situationsType of channel, specific stores, ease of purchase Time (day, week, month, year, etc.), location, and context of usage

y y

Personality and valuesSincerity, excitement, competence, sophistication, and ruggedness

History, heritage, and experiencesNostalgia Memories2.35







Judgment Dimensionsy

Brand qualityValue Satisfaction

y

Brand considerationRelevance

y

Brand credibilityExpertise Trustworthiness Likeability (Is it fun, interesting.)

y

Brand superiorityDifferentiation

2.37







Feelings DimensionsWarmth (Airtel, Vodafone) y Fun (Disney) y Excitement (Radio Mirchi, Fever 104) y Security (Dettol, J&J) y Social Approval (Mercedes) y Self-respect (Raymond)y

2.39







Resonance Dimensionsy y

Behavioral loyaltyFrequency and amount of repeat purchases

Attitudinal attachmentLove brand (favorite possessions; a little pleasure) Proud of brand

y

Sense of communityKinship Affiliation

y

Active engagementSeek information Join club Visit website, chat rooms2.41

Brand Building ImplicationsCustomers own brands. y Dont take shortcuts with brands. y Brands should have a duality head and heart. y Brands should have richness. y Brand resonance provides important focus to Marketing.y

2.42

Brand Identity

Identityy

The identity is a brands DNA configuration, a particular set of brand elements, blended in a unique way, which determines how that brand will be perceived in the marketplace (Upshaw, Laynn B)

Brand Identity is NOT Brand ImageIdentity precedes image y An image results from decoding a message, extracting meaning, interpreting signs y Image refers to how the brand is actually perceived y Brand identity should reflect the brands enduring qualities, even if they are not salient in the brand imagey

Identity requires answering the following questionsy y y y y y y

What is the brands particular vision and aim? What makes it different? What need is the brand fulfilling? What is its permanent nature? What are its value or values? What is its field of competence? Of legitimacy? What are the signs which make the brand recognisable?

Brand identity perspectives

Brand identityy

A brands identity can be viewed from four perspectives:brand as product brand as organization brand as person brand as symbol

y

Viewed from these perspectives, the identity develops texture and depth

Brand identityy

Brand as ProductProduct Scope: Associations with product class e.g. Dettol, Maggi, Frooti,Virgin, Kingfisher, Philips, Apple. Recall when product class is cued Product Attributes: Dove 1/4 moisturizing cream; Free limo pickup and massage on Virgin Atlantic

Brand as productQuality/value (Gillette: The best a man can get) Use occasion (Burnol, Glucon D, Band Aid, Raymond, Cadburys Celebrations, Coke)

Brand as productUsers (Saffola, Equal, Pepsi, Fair & Lovely) Country of Origin or region (Champagne: France; Automobile engineering: Germany; Pizza: Italy; Darjeeling Tea; Goan Feni and Port Wine; Mathura ke pede; Lonavala ki chiki; Bombay ka vada pav)

Brand as productBrand prototype y The brand actually injects its values in the production and distribution process as well as in the corollary services offered at the point of saley

Brand identityy

Brand as OrganizationSociety/Community orientation Perceived quality (J&J) Innovation (Apple, Gillette, Sony) Concern for customers (Nokias handling of battery crisis) Presence and success Local vs global

Brand identityy

Brand as PersonPersonality (e.g. sincere/genuine, energetic, rugged, competent, sophisticated, sense-ofhumour,...) Brand-customer relationships (e.g., friend, adviser,) (Very important for financial brands especially)

Brand identityy

Brand as symbol: Anything that represents the brandVisual imagery and metaphors e.g. Nike Swoosh, Golden arches, Mercedes star; Ambuja cement logo, Onida Devil Brand heritage (Darjeeling Tea; Marlboro; Seagrams 100 Pipers; Heritage hotels in India)

The identity structureThe Core Identity & Extended Identity & Brand Essence

The identity structure

Extended Identity

Brand essence

Core Identity

The core identityThe most important elements of the brand identity y Reflects the strategy and values of the organization y Associations are likely to remain constant as the brand travels to new markets and products y McDonalds: QSCVy

The extended identityElements that provide texture and make the brand holistic y Brand personality, logo, jingle, product scope, characters, brand-consumer relationship are some examplesy

Brand essenceA single thought that captures the soul of the brand y Resonates with the consumer y Drives the brand value proposition y Differentiates the brand from competition y Timelessy

Brand essence examplesAxe: Masculine attractiveness y Kodak: Family preservation y Amex: Sign of personal success y Nivea: Pure love and care y Nike: Excelling y McDonalds: ?y

Brand value propositiony

A brands value proposition is a statement of the functional, emotional, and self expressive benefits delivered by the brand that provide value to the customer. An effective value proposition should lead to a brand-customer relationship and drive purchase decisions (David Aaker)

Functional benefitMost visible and common basis for a value proposition y Benefit based on product attribute y Provides functional utility y Examples:Volvo is a safe car; Coke provides refreshment and taste; Maruti 800 is a very basic car for transportationy

Emotional benefitWhen the purchase or use results in a positive feeling the brand is said to provide an emotional benefit y Safe in a Volvo y Energetic and vibrant when drinking Coke y Maruti 800: My first cary

SelfSelf-expressive benefitSome brands become vehicles to express a part of our self-identity y iPod: Cool quotient y Marlboro: Macho y Subhiksha/Big Bazar: Frugal prudencey

Value propositions: BMWFunctional Benefits: A BMW car handles well, even on ice y Emotional Benefits: Excited in a BMW y Self-Expressive Benefits: Sophisticated and successful in a BMWy

Marlboro brand identityy y y

Brand Essence: Rugged individuality Core identity: Cowboy imagery; American heritage Extended Identity: - Brand Personality: Unshakable self- belief; loner/aloof; no nonsense; independent; always in control; fearless; leader

Marlboro brand identity- Basis for relationship: Escape from the pressure, stress of mundane life. Being one with nature. Strong symbol of freedom and adventure - Line extensions: Red, Lights, Ultra Lights, Menthol - Brand extension: Marlboro Classics (Clothing; accessories like belts, hats,)

Marlboro brand identity- Logo and attractive/distinctive packaging - Imagery: * Cowboys; Marlboro man; herding livestock; Marlboro Country * Horses; saddle; rugged terrain; jeans; jackets; boots; hat

Liril brand identityy y y

Brand essence: Come alive! Core Identity: Lime freshness Extended Identity: - Product scope: Soaps, deo, talcum powder - Personality: Bubbly exuberance - User:Young, urban - Associations: Karen Lunel, waterfall, excitement

Liril brand identity- Sensory: Predominantly lime fragrance, soothing green colour

Brand Mgmt Ppts

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