Modified Brand Management Unit 1
Modified Brand Management Unit 1
MANAGEMENT
UNIT -1
BY:
Dr. ANSHU MALA GAUTAM
MEANING OF BRAND
MEANING OF BRAND
According to the American
Marketing Association (AMA),
‘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 differentiate them
from those of the competitors.’
KEY FACTORS IN CREATING A
BRAND
KEY FACTORS IN CREATING A
BRAND
1. Choosing a name, logo,
symbol, etc. for the product.
2. Giving the product an identity.
3. Distinguishing the product
from its competitors.
KEY FACTORS IN CREATING A
BRAND
BRANDING
What is Branding?
Branding is when an image or an
idea is marketed in such a
way that it is recognisable by
more and more people, and
identified with a certain service
or product when there are
many other companies offering
the same service or product.
TYPES OF BRANDING
There are 2 types of Branding:
1. Rational Branding
2. Emotional Branding
TYPES OF BRANDING
BRAND
AWARENE
Bran SS
d
Reca
ll
SOURCES OF BRAND
EQUITY
Advantages of Brand Awareness:
1. Learning Advantages:
The first step in building brand equity is to
register the brand in the minds of the
consumers.
If the right brand elements are chosen,
the task becomes easier.
E.g. Dove beauty bar uses a delicate dove
symbol as its logo. The logo compliments
the brand.
SOURCES OF BRAND
EQUITY
2. Consideration Advantages:
Consumers must consider the brand whenever
they are making a purchase.
Brand awareness increases the likelihood that
the brand will be a member of the consideration
set, that the consumer considers before making
a decision to buy.
3. Choice Advantages:
Brand awareness can affect choices among
brands in the consideration set.
The brand will only have a chance to be
purchased if it makes it in the consideration set.
SOURCES OF BRAND
EQUITY
2. Brand Image:
Brand Image is an image or impression
the customers form about a particular
brand in their mind which is developed
over a certain time period.
Brand Image can be defined as how
existing or potential customers view
the brand and associate with it.
Brand image is something that eventually
forms in the mind of the customer.
4 STEPS OF BUILDING A
BRAND
1.Identification of the Brand: Ensure
identification of the brand with the
customers/consumers and an association of the
brand in the customers’/consumers’ minds with a
specific product, product class, product benefit, or
customer need.
2. Brand Meaning: Firmly establish the totality of
brand meaning in the minds of the
customers/consumers by strategically linking a
host of tangible and intangible brand associations.
3. Customer Response: Draw proper
customer/consumer responses to the brand.
4 STEPS OF BUILDING A
BRAND
4. Brand Resonance: Convert brand
responses to create brand resonance and
an intense, active loyal relationship
between the customers/consumers and the
brand.
These 4 steps represent a set of fundamental
questions that customers/consumers
invariably ask about brands. The 4
questions are:
1. Who are you? (Brand Identity)
2. What are you? (Brand Meaning)
3. What about you? What do I think about
4 STEPS OF BUILDING A
BRAND
4. What about you and me? What kind of
association and how much of a connection
would I like to have with you? (Brand
Relationships)
4 STEPS OF BUILDING A
BRAND
1. Identity:
The basis of a brand is figuring out, and
communicating, what your brand is all
about.
Not only do you need to make sure that people
are aware of your brand, but you need to be sure
that they are getting the right message as well.
E.g. if you trying to create a brand which is
dedicated to delivering high-end clothing items to
the market, you are not going to compete on cost-
you are going to compete on quality and your
goods will be sold for a high price relative to the
rest of the market.
4 STEPS OF BUILDING A
BRAND
At this first level of the pyramid, it is your
job to deliver the message that you are a
luxury brand offering high-end clothes for
premium prices.
If your customers/consumers do not get
this message, they are simply going to
wonder why your clothes are so expensive.
They need to see your identity as a
premium luxury brand in order for the rest
of your marketing and pricing to make
sense.
4 STEPS OF BUILDING A
BRAND
2. Meaning:
The next step is to carve out a meaning for your
brand that will begin to build loyalty within your
audience.
Brand meaning is going to go beyond the quality of
products that you offer, or the price point that you use at
the market.
You could build the meaning of your brand around a
number of different things, including your commitment to
specific social causes (e.g. Being Human), your dedication
to customer service, or just about anything else.
The meaning of your brand will give people a reason to be
proud of their purchases, and will give them a reason to
come back again and again.
4 STEPS OF BUILDING A
BRAND
E.g. continuing with the clothing example,
you could attach a social cause to your
brand, along with your luxury reputation.
For instance, you may publicise your offer
of donating a certain percentage of your
sales to important causes like clothing the
homeless or something similar.
In this way, you buyers will not only love
the products you deliver, but they will also
come to respect what you are doing with
some of the proceeds from each sale.
4 STEPS OF BUILDING A
BRAND
3. Response:
Once a customer/consumer makes a purchase from
your brand, what is their response to that
purchase?
This is where your brand has to live up to the
reputation that you have attempted to build earlier in
the pyramid.
If those luxury clothes that you are selling for a high
price don’t deliver on the quality that is expected, the
response from your customers is not going to be a
positive one.
However, if you do deliver great quality as expected,
your brand will only be strengthened and you will have
a great opportunity for growth and success.
4 STEPS OF BUILDING A
BRAND
Keeping in mind the importance of the way
the customers/consumers respond to your
products, you always need to make sure
you are delivering on your promises.
Failing to deliver on expectations is one of
the most damaging things that can happen
to a brand, and you might not be able to
recover from an extended period of losses.
4 STEPS OF BUILDING A
BRAND
4. Relationships:
At the top of the pyramid we find relationships,
which is concerned with the concept of resonance
(remaining for a long time).
It is difficult to climb all the way to this point in the
pyramid, but the brands that do make it to this
point will be in line for tremendous rewards.
The rare brands that land at this level are able to
actually create a community around the ownership
of their products- in other words, buyers of the
products will feel connected to one another
because they are devoted to the same brand.
4 STEPS OF BUILDING A
BRAND
Customers/consumers tend to be extremely
loyal at this level, and the will often buy
just about anything that the brand puts out
as long as it continues is the same tradition
as previous models or items.
E.g. a classic example here would be
Google and Sony. Both these brands have
become synonymous with search engine
and entertainment respectively in the
minds of the customers/consumers.
STRATEGIC BRAND
MANAGEMENT PROCESS
Identifying and Establishing Brand Positioning