Building Strong Brand Dr. Ananda Sabil Hussein. Steps in Strategic Brand Management Identifying and...

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Building Strong Brand Dr. Ananda Sabil Hussein

Transcript of Building Strong Brand Dr. Ananda Sabil Hussein. Steps in Strategic Brand Management Identifying and...

Building Strong BrandDr. Ananda Sabil Hussein

Steps in Strategic Brand Management

Identifying and establishing brand positioning

Planning and implementing brand marketing

Measuring and interpreting brand performance

Growing and sustaining brand value

What is a Brand?

A brand is a name, term, sign, symbol or design, or a combination of them, intended to identify the goods or services of one seller or

group of sellers and to differentiate them from those of competitors.

The Role of Brands

Identify the maker

Simplify product handling

Organize accounting

Offer legal protection

The Role of Brands

Signify quality

Create barriers to entry

Serve as a competitive advantage

Secure price premium

What is Branding?

Branding is endowing products and services with the power of the

brand.

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What is Brand Equity?

Brand equity 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.

Brand Knowledge

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Knowledge

Thoughts

Experiences

Beliefs Images

Feelings

Advantages of Strong Brands

Improved perceptions of product performance

Greater loyalty

Less vulnerability to competitive marketing actions

Less vulnerability to crises

Larger margins

More inelastic consumer response

Greater trade cooperation

Increased marketing communications effectiveness

Possible licensing opportunities

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Apple is a Strong Brand

Brand Dynamics Pyramid

Presence

Relevance

Performance

Advantage

Bonding

Strong Relationship

Weak Relationship

Aaker Model

Brand Identity

Extended Identity Elements

Brand Essence

Core IdentityElements

Brand Resonance Pyramid

Brand Elements

ElementsSlogans

Brandnames URLs

Logos

SymbolsCharacters

Internal Branding

Choose the right moment

Link internal and external marketing

Bring the brand alive for employees

Measuring Brand Equity

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Brand Audits

Brand Tracking

Brand Valuation

Managing Brand Equity

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Brand Reinforcement

Brand Revitalization

Brand Crises

Devising a Branding Strategy

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Develop new brand elements

Apply existing brand elements

Use a combination of old and new

Branding Terms

Brand line

Brand mix

Brand extension

Sub-brand

Parent brand

Family brand

Line extension

Category extension

Branded variants

Licensed product

Brand dilution

Brand portfolio

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Brand Naming

Individual names

Blanket family names

Separate family names

Corporate name-individual name

combo

Reasons for Brand Portfolios

Increasing shelf presence and retailer dependence in the store

Attracting consumers seeking variety

Increasing internal competition within the firm

Yielding economies of scale in advertising, sales, merchandising, and distribution

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Brand Roles in a Brand Portfolio

Flankers

Low-endEntry-level

High-endPrestige

Cash Cows

What is Positioning?

Positioning is the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target

market.

What is Positioning?

Positioning is the act of designing the company’s offering and image to occupy a distinctive place in the mind of the target

market.

Differentiation Strategies

Product

Channel Image

Personnel

Product Differentiation Product form

Features

Performance

Conformance

Durability

Reliability

Reparability

Style

Design

Ordering ease

Delivery

Installation

Customer training

Customer consulting

Maintenance

Strategies for Sustaining Rapid Market Growth

Improve product quality, add new features, and improve styling

Add new models and flanker products

Enter new market segments

Increase distribution coverage

Shift from product-awareness advertising to product-preference advertising

Lower prices to attract the next layer of price-sensitive buyers

Marketing Product Modifications

Quality improvements

Feature improvements

Style improvements

Ways to Increase Sales Volume

Convert nonusers

Enter new market segments

Attract competitors’ customers

Have consumers use the product on more occasions

Have consumers use more of the product on each occasion

Have consumers use the product in new ways