A Brand is any term Coke

A Brand is any. . . term… Coke name. . . Coca-Cola design… symbol… or combination… …that distinguishes a product from its competition.

Brand Image A mental image that reflects the way consumers perceive a brand. n n Physical: design, letters, shapes, art, colors Psychological: emotions, beliefs, values

Characteristics of Good Brand Names Virginia Slims Spic and Span Angel Duracell Jiffy Fruit 'n Fibre Easy to say and remember Pronounceable in only one way Positive in connotation Communicative of product attributes Short and distinctive Legally protectable

Basic Branding Strategies Manufacturer Brands Manufacturer Discount Brands Private Label Brands Generics (no brand) Toothpaste Mint Flavor Toothpaste

Brand Equity is a set of assets (and liabilities) linked to a brand’s name and symbol that adds to (or substracts from) the value provided by a product or service to a firm and/or that firm’s customers.

Categories of Assets Brand name awareness Brand loyalty Perceived Quality Brand Associations Other Proprietary Brand Assets (e. g. , channel relationships, patents, …)

Brand Equity Increases Value Brand Loyalty Brand Awareness Brand Equity Value to Customer Perceived Quality Value to Firm Brand Associations Other Brand Assets

Brand Name Awareness Anchor to which other associations can be attached Familiarity-liking Signal of substance/commitment Brands to be considered Examples: n n Coke: seal Du. Pont: strategic

Brand Loyalty Reduced marketing costs Trade leverage Attracting new customers n n Create awareness Reassurance Time to respond to competitive threats Examples: n Delta ad

Perceived Quality Reason-to-buy Differentiate/Position Price Channel member interest Extensions Examples: n n Jack in the box: COPS American Express

Brand Associations Help process/retrieve information Reason-to-buy Create positive attitude/feelings Extensions – Gerber Singles Examples: n n Nordstrom: Reinvent 7 -Eleven: Belly-flop

Brand Equity and Brand Value Brand Equity provides value to customers: n n n Interpretation/processing of information Confidence in the purchase decision Use satisfaction

Brand Equity and Brand Value Brand Equity provides value to firm: n n n Efficiency and effectiveness of marketing programs Brand loyalty Prices/margins Brand extensions Trade leverage Competitive advantage

Brand Building Inhibitors Pressure to compete on price Proliferation of competitors Fragmenting markets and media Complex brand strategies and relationships Bias toward changing strategies Bias against innovation Pressure to invest elsewhere Short-term pressures

Brand Equity and Brand Identity Brand Associations Brand Equity

Brand Identity A brand identity provides direction, purpose and meaning for the brand. It is central to a brand’s strategic vision and the driver of one of the four principal dimensions of brand equity: associations, which are the heart and soul of the brand.

Brand Identity Brand identity is a unique set of brand associations that the brand strategist aspires to create or maintain. These associations represent what the brand stands for and imply a promise to customers from the organization members.

Brand Identity is more than. . . Brand image (how the brand is perceived now) Brand position (the part of the brand identity and value proposition to be actively communicated to a target audience) Product attributes An external perspective (i. e. , customerbased)

Brand Identity System A brand’s identity can be viewed from four perspectives: n n brand as product brand as organization HARLEY DAVIDSON SITE brand as person brand as symbol When we view a brand from all these perspectives, it is easier to develop/reinforce a Value Proposition, Credibility and, ultimately, a Relationship with the customer.

Brand Identity System Brand Identity Brand as Product Brand as Organization Value Proposition Brand as Person Brand as Symbol Credibility Brand-Customer Relationship

Dimensions of Brand Identity Brand as Product n n n Product Scope Product Attributes Quality/value Uses Users Country of Origin Timex Ad Harley Site

Dimensions of Brand Identity Brand as Organization n n Organization attributes (e. g. , innovation, consumer concern, trustworthiness) Local vs. global Enbridge Home Services Harley Site

Dimensions of Brand Identity Brand as Person n n Personality (e. g. , genuine, energetic, rugged, …) Brand-customer relationships (e. g. , friend, adviser, …) Chevy Monte Carlo Ad Harley Site

Dimensions of Brand Identity Brand as symbol n n Visual imagery and metaphors Brand heritage Apple Ad Harley Site

Value Proposition Functional Benefits: A BMW car handles well, even on ice. Emotional Benefits: Excited in a BMW. Self-Expressive Benefits: Sophisticated and successful in a BMW.

Brand Position Brand position is the part of the brand identity and value proposition that is to be actively communicated to the target audience and that demonstrates an advantage over competing brands n n JC Penney’s position Girl Scouts position

Brand Position What elements of BI to include? Candidates: n n n Core identity: central, timeless essence of the brand (most unique, valuable aspects) Points of leverage: specific keys to success (e. g. , Ronald Mc. Donald) The value proposition: a key benefit part of the value proposition (functional, selfexpressive, …)

Brand identity & position provide value Guides and enhances brand strategy Improves brand memorability Provides meaning and focus to the organization Provides extension options n Co-branding at Yahoo In sum, provides: n n n value proposition credibility to other brands basis of relationship