bm template
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Brand ManagementFarooq Khalili
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What is a Brand?
Name, term, sign, symbol, or design, or acombination of them, intended to identify the goodsand services of one seller or group of sellers and to
differentiate them from those of competition.(AMA)
Different components of a brand that identify anddifferentiate it are called brand elements .
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What is Brand Management?
o It is a function of marketing that uses techniquesto increase the perceived value of a product lineor brand over time.
o Effective brand management enables the price ofproducts to go up and builds loyal customersthrough positive brand associations and images
or a strong awareness of the brand.
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o Brand management is a communication function thatincludes analysis and planning on how that brand ispositioned in the market, which target public the brand istargeted at, and maintaining a desired reputation of thebrand.
o Developing a good relationship with target publics isessential for brand management.
o Tangible elements of brand management include theproduct itself; look, price, the packaging, etc.
o The intangible elements are the experience that theconsumer takes away from the brand, and also therelationship that they have with that brand.
What is Brand Management?
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Brand Vs. Product
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Product?o A product is anything we can offer to a market
for attention, acquisition, use, or consumptionthat might satisfy a need or want.
o A product may be a physical good, a service, aretail outlet, a person, an organization, a place,an experience, or even an idea.
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5 Product Levels for CellPhones
Core Benefit Level: Communication
Generic Product Level: Basic Key PadFunctions (Dialer, Text Messaging)
Expected Product Level: FM Radio,Camera, Hands Free, Loud Speaker etc.
Augmented Product Level: Android, DualCore, Large Memory, Hi resolution
camera etc.
Potential Product Level: All possiblefuture innovations (such as flexiblehandsets, bio - sensitive sets etc.)
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Brand is more than a Product!
o A brand is more than a product, as it containsdimensions that help differentiate the product insome way from other products designed tosatisfy the same need, creating a competitiveadvantage.
o Some brands create competitive advantage withproduct features (Toyota); other brands createcompetitive advantage through abstract, non-product-related means (Surf Excel); still others,combine both approaches (Apple).
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What functions do brands performthat make them so valuable to
marketers and consumers alike?
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Importance of Brands toConsumers
o Identification of the source of theproduct
o Assignment of responsibility to productmaker
o Risk reducer
o Search cost reducero Promise, bond, or pact with product
makero Symbolic valueo Signal of quality
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Types of Consumer Riskso Consumers may perceive many different types of risks in buying
and consuming a product:
o Functional risk The product does not perform up to expectations.
o Physical risk The product poses a threat to the physical well-
being or health of the user or others.o Financial risk The product is not worth the price paid.
o Social risk The product results in embarrassment from others.
o Psychological risk The product affects the mental well-being of
the user.o Time/Opportunity risk The failure of the product results in an
opportunity cost of finding another satisfactory product.
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Importance of Brands to Firms
o Simplifies product handling
o Legal protection
o Signal of quality
o Source of competitive advantage
o Source of financial returns
o Provides leverage in dealing with channel
memberso Presents opportunities for leverage (enriching the
product mix)
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Can everything be branded?o YES!
o Ultimately a brand is something that resides inthe minds of consumers.
o The key to branding is that consumers perceivedifferences among brands in a product category.
o Even commodities can be branded: Chicken (K & N), Meat (Meat One), Drinking
Water (Aquafina), Rice (Mughal), Steel(Jamal), etc.
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What is branded?o Goods
o Services
o Retailers and distributors
o Online products and services
o People and organizations
o Animated characters
o Sports, arts, and entertainmento Geographic locations
o Ideas, ideologies & experiences
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Importance of Brand Management
The bottom line is that any brand no matter howstrong at one point in time is vulnerable, and
susceptible to poor brand management.
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Recognition Versus Recall: TheGraveyard Model
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BUILDINGBRANDS
1. Pressure tocompete on
price
2. Proliferationof competitors
3.Fragmenting
markets &media
4. Complexbrand
strategies &relationships
5. Biastowards
changingstrategies
6. Bias againstinnovation
7. Pressure toinvest
elsewhere
Why is it Hard to Build Brands?
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Top 10 Global Brands 2013
Brand 2013 ($Million)
1. Apple2. Google3. IBM4. Mc Donalds 5. Coca Cola
6. at&t7. Microsoft8. Marlboro9. Visa
10. China Mobile
185,071113,669112,53690,25678,415
75,50769,81469,38356,060
55,368
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Consider asking yourself this question:o What are my core values?o
What do I stand for?o How do I want to be perceived?o What personality traits do I want
to project?o What are the important
relationships in my life?
Brand Identity
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Interestingly........
The brand also asksthese questions
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