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GLOBAL MARKETING

GLOBAL MARKETING. Brand Management Brand Equity. What is a brand?. The name, term, sign, symbol, or design, or a combination of these, that identify the goods or services of one seller and that differentiate them from competitors’ brands. The best brands convey a sense of a quality promise.

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GLOBAL MARKETING

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  1. GLOBAL MARKETING Brand Management Brand Equity

  2. What is a brand? • The name, term, sign, symbol, or design, or a combination of these, that identify the goods or services of one seller and that differentiate them from competitors’ brands. • The best brands convey a sense of a quality promise.

  3. Brand Equity • A set of assets and liabilities linked to a brand’s name and symbol that add to or subtract from the value provided by a product or service to a firm and/or that firm’s customers

  4. BRAND AWARENESS BRAND IDENTITY BRAND EQUITY PERCEIVED QUALITY BRAND LOYALTY

  5. Brand Awareness • The level of familiarity consumers have with a brand name. • The ability to link a brand name with a particular product. • Can provide a competitive advantage: • Product parity • Low-involvement • High recognition

  6. Brand Identity • The associations attached to a firm and its brands • Anything directly or indirectly linked in memory to a brand • The most common associations are usually product attributes or customer benefits  Use or application  Lifestyle and feelings  Product class Personality  Product user  Symbol

  7. Strong Brands: • Excel at delivering benefits customers truly desire • Stay relevant • Base pricing strategy on consumers’ perceptions of value

  8. Are properly positioned • Are consistent • Make sense hierarchically within a brand portfolio • Make use of and coordinate a full repertoire of marketing activities to build equity

  9. Are well-understood by brand managers, i.e., they know what the brand means to consumers • Are given proper support that is sustained over time • Are monitored by the company with respect to sources of brand equity

  10. Managing Brands • Make sure each brand has a strong, recognizable identity • Make sure each brand has a unique core value proposition • Make sure each brand is clearly positioned, providing guidance to marketing mix

  11. Make sure the marketing mix decisions support and implement the brand identity and position • Be consistent with respect to brand identity, positioning, and execution • Make sure brands within a portfolio are consistent and synergistic

  12. Leverage brands if reinforces brand identity

  13. Branding Challenges • To brand or not to brand? • Brand sponsorship • Manufacturer brand • Distributor brand • Licensed brand name • Brand name decision

  14. Leveraging the Brand: Product extensions • New products in same product category owned by same company • Examples:

  15. Leveraging the Brand: Brand Extensions • New products with same brand name in product category • Examples: • Require lower investment and lower risk than product extensions

  16. Requires product differentiation and careful product positioning • If not carefully positioned, may cannibalize core brand and increase marketing costs

  17. Track brand equity over time • Brand audit • Brand inventory • Brand exploratory

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