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Lecture 6-c

POM

BBA 2K10

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What is brand?

Why is it necessary?

What makes a brand?

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Brand,

identity

and design

apple

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What is a brand ?

A traditional scenario of market

Company A

Consumer

Product / services

•In a traditional market scenario, the company is cateringto the consumer.

•The number of competitors are small.

•In these markets the companies can come with advancedtechnologies and other strategies to capture more marketshare.

•(The size and power of the players is important.)

Company B

Company C

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What is a brand ?

Company A

ConsumerProduct / services

•In complex markets, the differences between companiesare not much.

•The companies can not differentiate much themselves

from others on the basis of quality and technology etc.factors as all the companies are competent enough.

•This scenario explains the need for the differentiation forthe companies.

Company B

Company C

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What is a brand ?

Branding is an effort to give a unique identity to thecompany’s products and create emotionalassociations with consumers.

•It is a form of marketing.

A brand is a set of associations that are linked to aproduct range, a division, or company.

•These associations reside in the memory of customers.These associations help customers understand

what the brand or company is,why it is potentially relevant to them,how it is different or similar to other products made bythe company, and how it is similar or different fromcompetitor’s products.

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What is a brand ?

Branding is a combined effort of the company which is

projected to the consumer.

Company

Brand

Consumer

Marketing

Design

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What is a brand ?

What a brand means to common

person ?

In 'blind' taste tests, people preferthe taste of Pepsi over the taste ofCoke. However, if the test is not'blind' and the tasters know which

beverage is which, they prefer thetaste of Coke over Pepsi! That isthe emotional power of a brand.The Coca-Cola brand has the powerto actually change an individual'staste!

Coca-cola is the no.1 brand in theworld.The first shape that was registered isthe coca cola bottle.

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1. Products and services have become so alike that theyfail to distinguish themselves by their quality, efficacy,reliability, assurance and care. Brands add emotionand trust to these products and services, thus

providing clues that simplify consumers’ choice. 2. These added emotions and trust help create a

relationship between brands and consumers, whichensures consumers’ loyalty to the brands.

3. Brands create aspirational lifestyles based on theseconsumer relationships. Associating oneself with abrand transfers these lifestyles onto consumers.

What is a brand ?

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4. The branded lifestyles provides value over andabove the brands’ product or service category thatallow the brands to be extended into other productand service categories. Thus saving companies thetrouble and costs of developing new brands, while

entering new lucrative markets.

5. The combination of emotions, relationships,lifestyles and values allows brand owners to chargea price premium for their products and services,

which otherwise are barely distinguishable fromgenerics.

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Brand equity: Is the positive differential effect that knowing

the brand name has on customer response to theproduct or service.

Is a valuable asset that offers many competitiveadvantages.

Builds strong and profitable customerrelationships that result in loyal customers.

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TASK!!!!!

Find out brands ranked 1-10 on brand equity.

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Brand personalities should be treated likepersons or characters.

Consumers are able to distinguish among brand

personalities and thus develop their own loyal or

dis loyal relationships with the brands Brand personality is a specific mix of human

traits attributed to a particular brand

Sincerity

Excitement Competence

Ruggedness

Sophistication

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Identity achieved as a result of a good brand

name, consistent positioning, fulfilling the

promises and consistently good performance.

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Brands are assets that must be carefully

developed and managed via:

Brand positioning

Brand name selections Brand sponsorship

Brand development

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Marketers can position brands at any of three

levels:

Product attributes

Product benefits Beliefs and values

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Desirable qualities for a brandname:1. It should suggest the product’s

benefits and qualities.2. It should be easy to pronounce,

recognize, and remember.3. It should be distinctive.4. It should be extendable.

5. It should translate easily into foreignlanguages.

6. It should be capable of registrationand legal protection.

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Brand sponsorship options include:

Manufacturer’s brands

Also called national brands

Store brands

Also called private brands

Licensed brands

Co-branding

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Brand Development Strategies

Line extensions Brand extensions

Multibrands

New brands

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Brand Development Strategies

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Line extension:

Introduction of additional items in a given

product category under the same brand name

(e.g., new flavors, forms, colors, ingredients, or

package sizes).

Brand extension:

Using a successful brand name to launch a new or

modified product in a new category.

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Multibranding:

Offers a way to establish different features and appeal

to different buying motives.

New brands: Developed based on belief that the power of its existing

brand is waning and a new brand name is needed. Also

used for products in new product category.

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Managing Brands

Requires: Continuous brand communication

Customer-centered training

Brand audits

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WOULD YOU TAKE A MAJORROAD TRIP WITHOUT A MAP?

THE “MAP” IS CALLED A

“MARKETING PLAN.”

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WHO we are trying to reach (Target Market)

HOW we want to reach them

WHERE the product will be available

WHAT the MESSAGE needs to be (ad copy, images)

HOW MUCH $$$ is in our MARKETING BUDGET (per ProForma P&L, Cash Flow, Balance Sheet)

SWOT Analysis

AND WHEN will the action happen, per a TIMELINE

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Concentrate on a “do-able” population and scale.

Be realistic in expectations.

Do an accurate SWOT, not “Pie in the Sky” Stay the course; use your “map,” do not

unnecessarily “change direction” or make

adjustments to name or logo without qualityresearch behind it.

The Marketing Plan we follow MUST be thought outand researched FIRST, not last.

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The sum of your 4-P’s and your Marketing

Plan will ultimately build your “BRAND”

(either one way or the other!) Solid and positive BRANDING will

ultimately provide huge added value toyour name, your business and your

products or services.

pom lec 6-c

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