Scribd Logo
Upload

Welcome to Scribd!

  • 55 views

    Brands & Brand Management: DS Hwang From Kevin Lane Keller

    Uploaded by

    Haroon Awan
    This document provides an overview of brands and brand management. It defines what a brand is, distinguishing between a brand with a small "b" which is a legal trademark, and a Brand with a capital "B" which has greater awareness and reputation. A brand adds non-functional meaning and value to a product. Strong brands reduce consumer risk and search costs. Brands are valuable assets for firms that can influence consumer behavior and provide future revenues. The document also discusses how to manage brands through identifying positioning, implementing marketing programs, measuring performance, and growing equity over time.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd

    Brands & Brand Management: DS Hwang From Kevin Lane Keller

    Uploaded by

    Haroon Awan
    55 views23 pages
    This document provides an overview of brands and brand management. It defines what a brand is, distinguishing between a brand with a small "b" which is a legal trademark, and a Brand with a capital "B" which has greater awareness and reputation. A brand adds non-functional meaning and value to a product. Strong brands reduce consumer risk and search costs. Brands are valuable assets for firms that can influence consumer behavior and provide future revenues. The document also discusses how to manage brands through identifying positioning, implementing marketing programs, measuring performance, and growing equity over time.

    Original Description:

    Brand Management

    Original Title

    Keller

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This document provides an overview of brands and brand management. It defines what a brand is, distinguishing between a brand with a small "b" which is a legal trademark, and a Brand with a capital "B" which has greater awareness and reputation. A brand adds non-functional meaning and value to a product. Strong brands reduce consumer risk and search costs. Brands are valuable assets for firms that can influence consumer behavior and provide future revenues. The document also discusses how to manage brands through identifying positioning, implementing marketing programs, measuring performance, and growing equity over time.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    55 views23 pages

    Brands & Brand Management: DS Hwang From Kevin Lane Keller

    Uploaded by

    Haroon Awan
    This document provides an overview of brands and brand management. It defines what a brand is, distinguishing between a brand with a small "b" which is a legal trademark, and a Brand with a capital "B" which has greater awareness and reputation. A brand adds non-functional meaning and value to a product. Strong brands reduce consumer risk and search costs. Brands are valuable assets for firms that can influence consumer behavior and provide future revenues. The document also discusses how to manage brands through identifying positioning, implementing marketing programs, measuring performance, and growing equity over time.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 23

    CHAPTER 1: BRANDS & BRAND MANAGEMENT

    DS Hwang From Kevin Lane Keller

    1.1

    What is a brand?
    For 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 to differentiate them from those of competition. These different components of a brand that identify and differentiate it are brand elements .

    1.2

    What is a brand?
    Many practicing managers refer to a brand as more than that as something that has actually created a certain amount of awareness, reputation, prominence, and so on in the marketplace. We can make a distinction between the AMA definition of a brand with a small b and the industrys concept of a Brand with a capital b.

    1.3

    Brands vs. Products


    A

    product is anything we can offer to a market for attention, acquisition, use, or consumption that might satisfy a need or want. A product may be a physical good, a service, a retail outlet, a person, an organization, a place, or even an idea.

    1.4

    Five Levels of Meaning for a Product


    The core benefit level is the fundamental need or want that consumers satisfy by consuming the product or service. The generic product level is a basic version of the product containing only those attributes or characteristics absolutely necessary for its functioning but with no distinguishing features. This is basically a stripped-down, no-frills version of the product that adequately performs the product function. The expected product level is a set of attributes or characteristics that buyers normally expect and agree to when they purchase a product. The augmented product level includes additional product attributes, benefits, or related services that distinguish the product from competitors. The potential product level includes all the augmentations and transformations that a product might ultimately undergo in the future. 1.5

    brand is therefore more than a product, as it can have dimensions that differentiate it in some way from other products designed to satisfy the same need.

    1.6

    Some

    brands create competitive advantages with product performance; other brands create competitive advantages through non-productrelated means.

    1.7

    Why do brands matter?


    What

    functions do brands perform that make them so valuable to marketers?

    1.8

    Importance of Brands to Consumers


    Identification

    of the source of the product Assignment of responsibility to product maker Risk reducer Search cost reducer Promise, bond, or pact with product maker Symbolic device Signal of quality

    1.9

    Reducing the Risks in Product Decisions


    Consumers may perceive many different types of risks in buying and consuming a product: hFunctional riskThe product does not perform up to expectations. hPhysical riskThe product poses a threat to the physical wellbeing or health of the user or others. hFinancial riskThe product is not worth the price paid. hSocial riskThe product results in embarrassment from others. hPsychological riskThe product affects the mental well-being of the user. hTime riskThe failure of the product results in an opportunity cost of finding another satisfactory product.

    1.10

    Importance of Brands to Firms


    To

    firms, brands represent enormously valuable pieces of legal property, capable of influencing consumer behavior, being bought and sold, and providing the security of sustained future revenues.

    1.11

    Importance of Brands to Firms


    Identification

    to simplify handling or tracing Legally protecting unique features Signal of quality level Endowing products with unique associations Source of competitive advantage Source of financial returns

    1.12

    Can everything be branded?


    Ultimately

    a brand is something that resides in the minds of consumers. The key to branding is that consumers perceive differences among brands in a product category. Even commodities can be branded:
    Coffee

    (Maxwell House), bath soap (Ivory), flour (Gold Medal), beer (Budweiser), salt (Morton), oatmeal (Quaker), pickles (Vlasic), bananas (Chiquita), chickens (Perdue), pineapples (Dole), and even water (Perrier)
    1.13

    An Example of Branding a Commodity


    De

    Beers Group added the phrase A Diamond Is Forever

    1.14

    What is branded?
    Physical
    Services Retailers

    goods

    and distributors Online products and services People and organizations Sports, arts, and entertainment Geographic locations Ideas and causes
    1.15

    Source of Brands Strength


    "The

    real causes of enduring market leadership are vision and will. Enduring market leaders have a revolutionary and inspiring vision of the mass market, and they exhibit an indomitable will to realize that vision. They persist under adversity, innovate relentlessly, commit financial resources, and leverage assets to realize their vision.
    Gerald J. Tellis and Peter N. Golder, First to Market, First to Fail? Real Causes of Enduring Market Leadership, MIT Sloan Management Review, 1 January 1996
    1.16

    Importance of Brand Management


    bottom line is that any brandno matter how strong at one point in timeis vulnerable, and susceptible to poor brand management.
    The

    1.17

    What are the strongest brands?

    Top Ten Global Brands


    Brand
    1.
    2. 3. 4.

    2006 ($Billion)
    67.00 56.93 56.20 48.91 32.32 30.13 27.94 27.85 27.50 21.80

    2005 ($ Billion)
    67.53 59.94 53.38 47.00 35.59 26.45 24.84 26.44 26.01 20.00
    1.19

    5.
    6. 7. 8. 9. 10

    Coca-Cola Microsoft IBM GE Intel Nokia Toyota Disney McDonalds Mercedes-Benz

    Branding Challenges and Opportunities


    Savvy

    customers Brand proliferation Media fragmentation Increased competition Increased costs Greater accountability

    1.20

    The Brand Equity Concept


    No

    common viewpoint on how it should be conceptualized and measured It stresses the importance of brand role in marketing strategies. Brand equity is defined in terms of the marketing effects uniquely attributable to the brand.
    Brand

    equity relates to the fact that different outcomes result in the marketing of a product or service because of its brand name, as compared to if the same product or service did not have that name.

    1.21

    Strategic Brand Management

    It involves the design and implementation of marketing programs and activities to build, measure, and manage brand equity. The Strategic Brand Management Process is defined as involving four main steps:
    1. Identifying and establishing brand positioning and values 2. Planning and implementing brand marketing programs 3. Measuring and interpreting brand performance
    4. Growing and sustaining brand equity
    1.22

    Strategic Brand Management Process


    Steps
    Identify and establish brand positioning and values

    Key Concepts
    Mental maps Competitive frame of reference Points-of-parity and points-of-difference Core brand values Brand mantra Mixing and matching of brand elements Integrating brand marketing activities Leveraging of secondary associations Brand value chain Brand audits Brand tracking Brand equity management system Brand-product matrix Brand portfolios and hierarchies Brand expansion strategies Brand reinforcement and revitalization

    Plan and implement brand marketing programs

    Measure and interpret brand performance

    Grow and sustain brand equity

    1.23

    You might also like