Unit 5 Brand MGMT
Unit 5 Brand MGMT
Unit 5 Brand MGMT
Remember that brands are purchased for emotional reasons. There are many
different options to choose from for any given product or service, and people
want to buy brands that align with their beliefs, perceptions and motivations
because it feels right to them. Simon Sinek describes it this way: “People don’t
buy what you do; they buy why you do it.”
Strong, successful brands have a defined purpose; a set of defined values, a
philosophy, a guiding principle and/or a mantra that appeals to those who share
these. Fundamental questions to ask yourself in the context of building your
new brand should include things like:
Why am I (are we) here?
How is my brand different?
Why would/should people care about my brand?
These are vision/mission kinds of questions and transcend detailed features and
benefits of your product or service, but they are critical in giving your target
audience(s) reason to buy your brand over similar products and/or services.
Step 2: Know Your Competitors
Gaining an understanding of what your competitors are doing and saying in the
marketplace is important as you are building your brand, and will continue to
stay important over the life of your brand. In order to differentiate yourself
effectively from those competitors, you need to know what perceptions they
own in the minds of your target audience(s).
An easy and effective way to organize the strengths and weaknesses of your
competitors’ perceptions uses a model of perceptions like this one:
Evaluation of their messaging, reviews/social media comments made by
customers as well as primary opinion research among their customers will
provide you with a “received view” and indication of what brand strategy each
of your competitors is pursuing.
In today's digital age, social media plays a crucial role in brand management.
With millions of people spending hours on social platforms every day, it is
essential for businesses to establish a strong presence and effectively manage
their brand on these platforms. In this section, we will explore the importance of
social media branding and share some tips on how to do it effectively.
4. Brand Amplification
Brand amplification done right makes lasting first impressions on your
customers and keeps people thinking about your brand long after you make that
great first impression.
Brands generally do ( brand amplification is, why it’s so important, how to
amplify your brand with billboards, and how to measure your brand
amplification.)
Let’s face it: these days, people who engage with a brand are looking for more
than just industry-leading services and products. They’re looking for brands that
share similar values and promote those values genuinely.
Why? Because it’s easier for a prospective customer to connect with (and trust)
an organization that lives out its values authentically. Brand amplification
communicates the heart of your brand by highlighting its values, stories, and
core message.
Think about what makes your brand stand out from its competitors, what makes
it unique, and why what it does is meaningful. These insights are the stepping
stones to successfully amplifying your brand. The more insights you have into
the core of your brand, the easier you can convey authentic, compelling stories
to your audience.
By now you may be wondering, “Do I really need brand amplification to be
competitive?” If you want to build an experience that’s consistent across your
customer touch-points, then the answer is a resounding “Yes!”
A well-thought-out, articulated strategy for your brand benefits more than just
your audience. The most effective brand strategies give your staff members and
third-party agencies a brand hierarchy that lets them establish consistency
across customer touch-points. From the typeface on your website’s landing page
to the logo you use on all your products, articulated brand strategies impact all
your key assets.
Above all, though, brand amplification defines the type of business you want to
build. It identifies the type of people you want to employ, the values you stand
behind, and, of course, the values you adamantly oppose.
Now that you know a little bit more about brand amplification and why it’s so
important to have, it’s time to dig into the nitty-gritty of actually amplifying
your brand: let’s dive into some ways you can amplify your brand using
billboards.
5.Brand ethics
Brand ethics refers to a company's moral principles and values that guide its
actions. It's crucial because ethical behavior builds trust, fosters loyalty, and
contributes to a positive impact on society, aligning business success with social
responsibility.
statistics say that about 13% of customers are willing to pay up to 50% more to
companies they see as positively contributing to nature and society.
As a marketer, these statistics are critical for you and showcase why you should
adopt this branding practice to make your brand survive in such a competitive
era. However, many other aspects make ethical branding a critical branding
practice.
ETHICAL ISSUES IN BRANDING
Branding is what your business needs to break through the clutter and grab your
ideal customer’s attention. It’s what transforms first-time buyers into lifetime
customers and turns an indifferent audience into brand evangelists. It’s what
you need to stand out, make an impact and take your business to the next level.
Branding can help you establish a theme and reputation for your business or
product, and well-branded items are easily recognized by consumers. But when
a branding strategy is unethical — or is perceived as unethical by consumers —
it can backfire, resulting in significant negative publicity for your business. In
some cases, unethical branding can even subject you to a lawsuit.
Trademarks and Copyrights
The U.S. Patent and Trademark Office has a free trademark search tool you can
use to ensure no one else is using the logo you want to use.
Dishonesty
False advertising is a civil offense, and consumers can sue when advertising is
false, misleading or dangerous. The Competition Commission of India
investigates claims of false advertising and may levy fines against companies
involved in the practice.
Marketing to Children
Many parents view all marketing toward children as suspect because it can alter
a child’s opinions, viewpoints and self-image. Advertisers should tread
carefully when establishing branding strategies and avoid tactics that will be
annoying to parents. Offensive images, branding a product as something
children can do to annoy their parents or siblings and branding a product as
something for problem children can all prove problematic. Misleading branding
strategies are also a problem and are often investigated more intensively when
they involve children.
The FTC can heavily penalize false marketing to children. Marketers who use
sexualized branding tactics — such as creating a lingerie brand for young girls
— could be slapped with fines and negative publicity. Avoid branding strategies
that encourage children to eat unhealthy foods, such as branding a snack as
healthy or as a replacement for a wholesome meal. In her book “Can’t Buy My
Love,” advertising expert Jean Kilbourne advises against marketing to children
under the age of 8, as they might be unable to critically evaluate marketing
claims.
Controversial Branding
The brand was accused of "defacing" the Hindu festival of Diwali by naming its
festive collection Jashn-e-Riwaaz (celebration of tradition). It eventually
withdrew the promo after backlash from right-wing groups.
We can't call Durga Puja as Durga Jashan. Neither you can call the Diwali
celebration as Jashan e Rewaz. It's not a Mughal festival. Even the Muslims
might object if you call Eid as Jashan e Riwaz or “Jashn-E Qurbani”. Because it
has never been expressed in that way. let people respect respective sentiment
and let Diwali remain Diwali only not Jashan e Riwaz. Fabindia has given the
Ad ahead of Diwali, so people will perceive it to be Diwali related Ad. Let it
respect the sentiment of the majority Indians. People deserve to be treated with
respect
Examples
Apple has been criticized for its unethical practices, it’s now going green with a
goal of becoming 100% carbon neutral by 2030. Apple took six major
sustainability initiatives to achieve the goal:
Starbucks
Reduced the use of conflict minerals such as tin, tungsten and
tantalumStarbucks is one of the most popular coffee shops globally that is
committed to 100% sustainably sourced coffee. They use a method called
C.A.F.E (Coffee and Farmer Equity Practice) to optimize their sourcing.
They always ensure each step of the coffee-making process is done ethically.
The criteria set by Starbucks for ethical sourcing have now become the industry
norm. Starbucks works with over 170,000 farmers and generates billions of
dollars in revenue each year.
Brand is a simple but very confused word with multiple meanings. The
American Marketing Association defines a brand as: a name, term, sign,
symbol, or design, or a combination of them, intended to identify the goods or
services of one seller or group of sellers and differentiate them from those of
competitors (Kotler, 2003). A brand may have many other meanings depending
on the role it plays, the value it has and more importantly, to whom it is related.
To brand owners, a brand is mainly a differentiation device: the living memory
and the future of its products (Kapferer, 1997). To brand users, a brand may
create an emotional bond with them which turns the brand into an icon. In the
most developed role, brands represent not only the products or services a
company provides but the firm itself, the brand is the company and brands
become a synonym of the company’s policy (Goodyear 1996; de Chernatony
and McDonald, 2003). A brand is no longer just the interface between the 2
company and its customers; to whom and to the general public, it is the face of
the company. Branding is a key function in marketing that means much
more than just giving a product a name. Branding at corporate level is
essentially about developing and managing the relationship between the
organisation and its various stakeholders as well as the general public.
Should branding be ethical? It might seem that the answer is obvious: most
companies would answer yes. However, it would be more difficult to find a
universal agreement on what ethical branding is. Ethics refers to moral rules or
principles of behaviour for deciding what is right and wrong. These principles
are not always easy to define as a) it is often difficult to distinguish between
ethics and legality; b) ethical values vary between individuals and organisations,
and between different cultures; and they are changing over time. Ethics is a very
complex subject. Marketing ethics is but a subset of business ethics which itself
is a subset of ethics (Martin, 1985). Research on marketing ethics has so far
been confined to general marketing issues, such as product safety, pricing,
advertising and marketing research (Laczniak, 1993; Simith, 1995 and Murphy,
1999); little attention has been paid to branding. No business ethics books have
been found to have reference to branding while leading branding texts have
made no reference to ethics (Aaker, 1991; Kapferer, 1997; Keller, 1998 and de
Chernatony and McDonald, 2003). A brand may be amoral, but there are ethical
issues in branding. Ethical branding, as a subset of ethical marketing, relates to
certain moral principles that define right and wrong behaviour in branding
decisions. A brand needs to be evaluated not just by the economic or financial
criteria but also by the moral ones. An ethical brand should not harm public
good; instead it should contribute to or help promote public good.