1 / 27

Chapter 18: Branding

Chapter 18: Branding. chapter. Brand. A name, term, symbol, design, or combination thereof that identifies a seller’s products and differentiates them from competitors’ products. Value Proposition of Brands.

kara
Download Presentation

Chapter 18: Branding

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Chapter 18:Branding chapter

  2. Brand A name, term, symbol, design, or combination thereof that identifies a seller’s products and differentiates them from competitors’ products.

  3. Value Proposition of Brands • Value Proposition: Set of benefits or values the brand promises to deliver to consumers to satisfy their needs. • Why should I buy your brand rather than your competitors’ brand?

  4. Value Proposition Online Apple Store Fifth Avenue NYC

  5. Mall of America Online http://www.mallofamerica.com

  6. Brands For the manufacturer For the consumer Represents Ownership Delivers a Promise Distinguishes from Competitors Offers Consistency Adds Value

  7. Brand Equity • Brand Equity is the power of a brand, through creation of a distinct image, to influence customer behavior. Ralph Lauren $150.00 Cutter & Buck $62.00 Croft & Barrow $20.00

  8. BW Top 100 Brands Source: Business Week / Interbrand study

  9. Why is Brand Important • Product identification • Repeat sales (brand loyalty) • Generate new product sales • Quality or image association • Product differentiation

  10. Building Strong Brands High Quality Starts with positioning Low Price High Price Low Quality

  11. Perceptual Map

  12. Connecting to the Consumer Higher Emotional Connection with Consumers Increasing Difficult for Competitors to copy Positioning

  13. Brand Constellations and Positioning

  14. Brand Name That part of a brand that can be spoken, including letters, words, and numbers. Brand Mark The elements of a brand that cannot be spoken. Brand Equity The value of company and brand names. Master Brand A brand so dominant that it comes to mind immediately when a product category, use, attribute, or benefit is mentioned. Branding

  15. Baking Soda Arm & Hammer Adhesive Bandages Band-Aid Rum Bacardi Gelatin Jell-O Soup Campbell’s Cream Cheese Philadelphia Crayons Crayola Petroleum Jelly Vaseline Master Brands

  16. An Effective Brand Name • Is easy to pronounce • Is easy to recognize and remember • Is short, distinctive, and unique • Describes the product, use, and benefits • Has a positive connotation • Reinforces the product image • Is legally protectable Online Levesque Design (Portfolio, Logo Design)

  17. Brand Names and Cars • Phonetic Symbolism: small units of sound and the meanings they convey • Used two fictitious words to test what sounds consumers prefer (e.g. “gimmel” and “gommel”) • (Short) “i” or “ee” sounds for products that are fast or sharp (convertible, knife) • (Short) “a” or “oo” sounds for large, slow or dull products (SUV, hammer) • “yoo” or “un” sounds are negative “You may be buying a vowel”, Philadelphia Inquirer, 10/1/2007, Colleen Dunn

  18. Brand No Brand Manufacturer’s Brand Private Brand IndividualBrand Family Brand Combi-nation IndividualBrand Family Brand Combi-nation Branding Strategies

  19. Private Brand The brand name of a manufacturer e.g. Ford Mustang, Starbuck’s Coffee The brand name of a manufacturer e.g. Ford Mustang, Maxwell House Coffee, Shredded Wheat Manufacturers’ Brand Generic Brand A no-frills, no-brand-name, low-cost product that is simply identified by its product category. A brand name owned by a wholesaler or a retailer e.g. Sam’s American Choice (Wal-Mart) Manufacturers’ Brands VersusPrivate Brands

  20. Advantages of Private Brand • Earn higher profits • Less pressure to mark down prices • Manufacturer may drop a brand or become a direct competitor to dealers • Ties customer to wholesaler or retailer • No control over distribution of manufacturers’ brands

  21. Advantages of Manufacturers Brand • Develop customer loyalty • Attract new customers • Enhance prestige • Offer rapid delivery, can carry less inventory • Ensure dealer loyalty

  22. Brand No Brand Manufacturer’s Brand Private Brand IndividualBrand Family Brand Combi-nation IndividualBrand Family Brand Combi-nation Branding Strategies

  23. Individual Brand Using different brand names for different products e.g. Procter and Gamble products Family Brand Marketing several different products under the same brand name e.g. Sony products Individual Brands VersusFamily Brands

  24. Examples • P&G Brands (Individual) • www.pandg.com • Sony Brands (Family) • www.sony.com • Kellogg’s Brands (Individual and Family) • www.kelloggs.com • Pepsico’s Brands (Individual and Family) • www.pepsico.com

  25. Individual Branding at P & G

  26. Online http://www.bose.com (Automotive Section) Cobranding • Placing two or more brand names on a product or its package • Ingredient branding: part of the product (Intel Inside) • Cooperative branding: brands get equal treatment and borrow brand equity (Coach version of Lexus) • Complimentary branding: marketed together, with a suggested usage (Bacardi and Coke) • Works best when two brands are equal in strength and target same customers

  27. Hampton Inn and Steak and Ale and Bennigan’s Cooperative Branding

More Related