Chap 1, brands & brand management
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Transcript of Chap 1, brands & brand management
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Integrated Marketing Communication(IMC) Prepared by
PROF. RAJESH KUMAR(MBA IMT- Ghaziabad, SIX-SIGMA BLACK BELT CERTIFIED)
(Prof. of Marketing, Digital Marketing, Strategic Management, Advertisement & Branding)
IMT-CDL(DIMS)IP UNIVERSITY
(Ex. HOD-MARKETING,BSD)Sr. Manager (Digital Marketing-SEO, SMO, Advt, E-Mail Mrkt, Mobile Mrkt)
www.jrinfotech.comE:[email protected]
P:9810275444www.marketingandbrandingguru.com
BRANDING.
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BRANDING. Differentiate!
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Objective of Branding
Create in the mind of the prospect the
PERCEPTION
that there’s no other product or service
quite like this Branded One!
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Why do we want to do that?
Abundance of choices
Being distinctive is the way potential users will decide whom to do business with
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.Brand Positioning
Statement
For consumers ages 16-35, Crest Whitestrips whiten teeth five times better than the leading paint-on whitening gel. That’s because Crest’s gel-coated strips hold the peroxide on teeth longer, to whiten stains below the tooth surface.
BRANDING.
.When We build a brand
Than
Create a better perception in the mind.
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A Brand lives or dies:
• Not in the mind of the Company
• Not in the mind of the CEO
But in the mind of the Customers!
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your product is the first that comes to mind in a certain product category
eg. ice tea = Snapple, running shoes = Nike
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Branding Isn’t:
Just a logo/catchy slogan
A little Advertising
Having attractive stationery or letterhead
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Brands are much more than logos
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What is a brand?
• A brand is a “name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.”
• These different components of a brand that identify and differentiate it are brand elements.
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What is a brand?
• Many practicing managers refer to a brand as more than that— as something that has actually created a certain amount of awareness, reputation, prominence, and so on in the marketplace.
• We can make a distinction between the AMA definition of a “brand” with a small b and the industry’s concept of a “Brand” with a capital B.
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Examples of brands of computer products
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History of Branding
In the beginning of mankind
Products were pretty much the same
Trade kept in family
Choice was easy
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.Bula
Jobith
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.Bula
Jobith
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Early Trademarks
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Brands vs. Products
• A product is anything we can offer to a market for attention, acquisition, use, or consumption that might satisfy a need or want.
• A product may be a physical good, a service, a retail outlet, a person, an organization, a place, or even an idea.
Five Levels of Meaning for a Product .
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Levels of Meaning for Product
• Core Benefit Level
• Generic Product Level
• Expected Product Level
• Augmented Product Level
• Potential Product Level
Brands vs. Products
• A brand is therefore more than a product, as it can have dimensions that differentiate it in some way from other products designed to satisfy the same need.
• Some brands create competitive advantages
with product performance; other brands create competitive advantages through non-product-related means.
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Sony
The Sony Vaio series – one voice by Sony
* Aesthetics – integrated family look. All products bear some common elements.* Style of use – interface design – unique way of operating a product.* Some functions special to the brand
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Brand Today
People overwhelmed by available choices
Human attention is a major business currency
Interest in, and loyalty to, brands that don’t “touch them” fall off the choice chart.
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For homemakers, Dow Bathroom Products are the easy way to get a great clean shine for your tub, tile and toilet. That’s because only Dow Bathroom Products contain scrubbing bubbles that cut through dirt and grime clean to the shine!
Brand PositioningStatement
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Why do brands matter?
What functions do brands perform that make them so valuable to marketers?
We can look the matters for two different prospects
Consumers ProspectsFirms Prospects
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Importance of Brands to ConsumersIdentification of the source of the productAssignment of responsibility to product makerRisk reducerSearch cost reducerPromise, bond, or pact with product makerSymbolic deviceSignal of quality
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Reducing the Risks in Product Decisions
Functional risk
Physical risk
Financial risk
Social risk
Psychological risk
Time risk
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Importance of Brands to Firms• Identification to simplify handling or tracing
• Legally protecting unique features
• Signal of quality level
• Endowing products with unique associations
• Source of competitive advantage
• Source of financial returns
.Idea
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What is branded?
• Physical goods• Services• Retailers and distributors• Online products and services• People and organizations• Sports, arts, and entertainment• Geographic locations• Ideas and causes
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Diamond industry Creating a new range of opportunities by bridging value chains
Precious Metals(gold, palladium, silver, platinum)Luxury segments
(watches, pens, bejeweled technology)
Diamonds & Jewelry (traditional products, new markets (BRIC))
The global diamond & jewelry business is the catalyst for exponential growth into other markets, products and new value chains
.Brand Service: ICICI BANK
.Retail Financial Services
Corporate Financial Services
Term LoansProject Finance
Commercial Bank
Investment Bank
Venture Capital
Genl. Insurance
IT Services
Car Loans
Mortgages
Credit Cards
Personal loans
Deposits
Life Insurance
Mutual funds
A universal banking powerhouse...
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Establishing an international presence
Canada UK
UAE
Singapore
USA China
Phase I : Offices opened/to be opened shortly
Phase II : Geographies under advanced stage of evaluation
Brand Retailers: Big Bazaar.
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. Brand Online products and services: Naukri.com
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Total 35 officesAcross-
India USA UAE
. . Brand Online products and services: Naukri.com
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*Traffic Share on Sep. 6, 2006 as per Alexa
Jobs Ahead
Times Jobs
Monster India
Brand People.: Sachin
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. Brand People.: Rafa/Fed
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Small is Beautiful – Mass Market
Nano by Tata– 1 lakh– Milestone for auto industry– Aspirations of India’s rising middle class– Solution to urban transport problems
• Congestion• Environmental impact
• Bajaj - Renault• Electric car by Field Marshal Group,
Rajkot• Rs. 99,000
Tata
Bajaj - Renault
.Brand Sports: Lawn Tennis
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Brand Geographical Location: Norwegian
. Brand Idea: MCKINSEY’S 7S FRAMEWORK
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A word of warning:
You are already a brand - - good or bad
If you don’t actively define your brand, your brand as it is now will define you!
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Categories Changed By Branding:WATER
– Top of the charts on Commodity list
– In America water from tap is good and clean
– No reason to buy bottled water
– But people do buy bottled water – lots of it.
– More expensive per liter than beer or milk
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Strategic Brand Management Process
Mental mapsCompetitive frame of referencePoints-of-parity and points-of-differenceCore brand valuesBrand mantra
Mixing and matching of brand elementsIntegrating brand marketing activitiesLeveraging of secondary associations
Brand Value ChainBrand auditsBrand trackingBrand equity management system
Brand-product matrixBrand portfolios and hierarchiesBrand expansion strategiesBrand reinforcement and revitalization
KEY CONCEPTSSTEPS
Grow and SustainBrand Equity
Identify and EstablishBrand Positioning and Values
Plan and Implement Brand Marketing Programs
Measure and InterpretBrand Performance