Everyone brands n n Manufacturers Retailers n n n Private Store Wholesalers Services Malls HED 460
What is a brand? n n n A A A name symbol product store promise the consumer can trust key asset HED 460
What is a brand? n (Tangibles) AMA – American Marketing Association n “A name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other seller’s. ” HED 460
What is a brand? Cow fits definition – is it a brand? n What if Mercedes becomes Dolores – will it no longer be a brand? n If Pentium becomes Intellect (rejected candidate name), will it sell less? n HED 460
What is a brand? Cow is not a brand, but a product class n Guernsey or Holstein might represent product forms n Symbol burned into cow’s hide to identify the cows of a particular owner is a brand n HED 460
Why Consumers use Brands HED 460
Shop fewer stores 1980 n 1995 n 2000 n – – 3. 5 stores 2. 75 stores 2. 2 stores 1. 2 stores HED 460
Brand as asset – (Intangibles) n n Brands have equity n perceived to have value beyond what the products/services/stores they are attached to produce in sales and profits Brands can be more lasting than assets of factories, warehouses, stores Brands may appreciate rather than depreciate Brands are portable HED 460
Measuring brand equity n Value stockholders place on a brand n n Market share, customer loyalty, market penetration, lifetime value of a customer Consistently deliver on their promise n n n The Gap Home Depot Amazon. com HED 460
What threatens brand equity? n Low or inconsistent quality n Michelob (Where you’re going, it’s Michelob) Extending into inappropriate channels n Lack of innovation n Not differentiating n Not meeting consumer expectations n n “every point of customer contact” HED 460
Planning Brand Strategy Know your core business n Develop 3 interrelated strategies n Positioning n Personality n Affiliation n n Communicate brand strategies HED 460
Company performance HED 460
1. Positioning strategy The niche a brand occupies in consumers’ minds n Maintain parity with competitors AND differentiate n Must define 3 things n target audience n competitive frame of reference n meaningful differentiation point n HED 460
Motel 6 positioning n For frugal people, Motel 6 is a comfortable night’s stay at the lowest price of any national chain. Target audience n Competitive frame of reference n Meaningful Differentiation point n HED 460
Develop positioning strategy For (target audience), your brand is a (competitive frame of reference) that provides (meaningful differentiation point). n Is it a brand? Not just a store name. n Group members’ names – IC #5 n HED 460
Positioning examples n Product superiority, maintain service n n Excel in service, hold own in quality n n Mercedes-Benz, Sony Nordstrom, Saturn Superior use of user imagery, adequate or strong performance n Calvin Klein, Harley Davidson HED 460
2. Create Brand Personality Strategy n n n Set of human traits brand portrays in its relationship with its customers Character or personality that predicts what to expect “that sounds like a _____ ad” Motel 6 personality strategy Deliver brand personality at every point of contact HED 460
3. Manage Brand Affiliation n n How you think others will perceive you if they know you use a particular brand? Prevent negative or limiting perception Motel 6 example Bic example n n ballpoint pens - 1950’s disposable cigarette lighters - 1970’s disposable razors - 1980’s Perfume - 1989 - “Paris in your pocket” HED 460
For Global Homogenous tastes n Economies of scale n Small markets get their share n Brand effectiveness can be improved n Against Local market tastes/pref. ignored n Choices and effectiveness diluted for global appeal n Local regulations and restrictions n HED 460
Cyberbranding Strong brand can provide powerful advantages, esp. initially n Branding is more complex n n creating an experience that potential buyers interact with Reach and interactivity are increased n Victoria’s Secret example n HED 460
Brand Extension n New products n n n New customers n n Williams-Sonoma’s Pottery Barn catalog launched Pottery Barn Kids L. L. Bean launched L. L. Home Abercrombie & Fitch launched abercrombie New formats n n Avon to Avon. com, mall-based kiosks, Avon spa Delia’s direct marketer, stores, Internet HED 460
Brand Extension n New Channels n n Starbucks, license with Kraft for supermarkets New Businesses n n Tesco now offers natural gas to customers Nordstrom is into financial services HED 460
Rational Branding Something of value is given in exchange for information n Build your own…. . . n HED 460
Rational Branding HED 460
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