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    Brands & Brand Management: Kevin Lane Keller Tuck School of Business Dartmouth College

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    Muhammad Asif Zia
    1. The document discusses the concepts of brands and brand management. It defines a brand and lists the key elements that identify and differentiate brands. 2. Brands are important to both consumers and firms. For consumers, brands reduce risk, lower search costs, and signify quality. For firms, brands are valuable legal property that can influence consumer behavior and provide sustained revenues. 3. Strong brand management is important as brands are vulnerable to poor management. The top ten most valuable global brands are listed, with Coca-Cola the most valuable. Strategic brand management involves identifying brand positioning, implementing marketing programs, measuring performance, and growing equity.

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    Brands & Brand Management: Kevin Lane Keller Tuck School of Business Dartmouth College

    Uploaded by

    Muhammad Asif Zia
    111 views18 pages
    1. The document discusses the concepts of brands and brand management. It defines a brand and lists the key elements that identify and differentiate brands. 2. Brands are important to both consumers and firms. For consumers, brands reduce risk, lower search costs, and signify quality. For firms, brands are valuable legal property that can influence consumer behavior and provide sustained revenues. 3. Strong brand management is important as brands are vulnerable to poor management. The top ten most valuable global brands are listed, with Coca-Cola the most valuable. Strategic brand management involves identifying brand positioning, implementing marketing programs, measuring performance, and growing equity.

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    1. The document discusses the concepts of brands and brand management. It defines a brand and lists the key elements that identify and differentiate brands. 2. Brands are important to both consumers and firms. For consumers, brands reduce risk, lower search costs, and signify quality. For firms, brands are valuable legal property that can influence consumer behavior and provide sustained revenues. 3. Strong brand management is important as brands are vulnerable to poor management. The top ten most valuable global brands are listed, with Coca-Cola the most valuable. Strategic brand management involves identifying brand positioning, implementing marketing programs, measuring performance, and growing equity.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    111 views18 pages

    Brands & Brand Management: Kevin Lane Keller Tuck School of Business Dartmouth College

    Uploaded by

    Muhammad Asif Zia
    1. The document discusses the concepts of brands and brand management. It defines a brand and lists the key elements that identify and differentiate brands. 2. Brands are important to both consumers and firms. For consumers, brands reduce risk, lower search costs, and signify quality. For firms, brands are valuable legal property that can influence consumer behavior and provide sustained revenues. 3. Strong brand management is important as brands are vulnerable to poor management. The top ten most valuable global brands are listed, with Coca-Cola the most valuable. Strategic brand management involves identifying brand positioning, implementing marketing programs, measuring performance, and growing equity.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    of 18

    CHAPTER 1:

    BRANDS & BRAND MANAGEMENT

    Kevin Lane Keller


    Tuck School of Business
    Dartmouth College

    1
    What is a brand?

    • Definition: “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.”
    American Marketing Association (AMA),

    • Brand Elements: Different components of a brand that identify and


    differentiate it are brand elements.

    2
    Brands vs. Products

    • Product: anything we can offer to a market for attention,


    acquisition, use, or consumption that might satisfy a
    need or want.

    • May be a physical good, a service, a retail outlet, a


    person, an organization, a place, or even an idea.

    3
    Five Levels of Meaning for a
    Product
    • Core benefit level

    • Generic product level

    • Expected product level


    .
    • Augmented product level

    • Potential product level

    4
    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

    5
    Reducing the Risks in Product
    Decisions

    Functional risk.
    Physical risk
    Financial risk
    Social risk
    Psychological risk
    Time risk

    6
    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.

    7
    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

    8
    Can everything be branded?
    • A brand resides in the minds of consumers.
    • Consumers perceive differences among brands in a
    product category.
    • Even commodities can be branded:
    – Coffee (Nestle), bath soap (Lux), flour (Iwisa), beer
    (Castle), salt (Morton), oatmeal (Jungle), pickles
    (Branston), and even water (Perrier)

    9
    An Example of Branding a Commodity
    • De Beers Group added the phrase “A Diamond Is
    Forever”

    10
    What is branded?
    • Physical goods
    • Services
    • Retailers and distributors
    • Online products and services
    • People and organizations
    • Sports, arts, and entertainment
    • Geographic locations
    • Ideas and causes

    11
    Importance of Brand Management

    • Brands are vulnerable, and susceptible to


    poor brand management.

    12
    What are the strongest brands?
    Top Ten Global Brands
    Brand 2006 ($Billion) 2005 ($ Billion)

    1. Coca-Cola 67.00 67.53


    2. Microsoft 56.93 59.94
    3. IBM 56.20 53.38
    4. GE 48.91 47.00
    5. Intel 32.32 35.59
    6. Nokia 30.13 26.45
    7. Toyota 27.94 24.84
    8. Disney 27.85 26.44
    9. McDonald’s 27.50 26.01
    10. Mercedes-Benz 21.80 20.00

    14
    Branding Challenges and Opportunities
    • Savvy customers
    • Brand proliferation
    • Media fragmentation
    • Increased competition
    • Increased costs
    • Greater accountability
    • Regulation

    15
    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.

    16
    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

    17
    Strategic Brand Management Process

    Steps Key Concepts


    Mental maps
    Identify and establish Competitive frame of reference
    brand positioning and values Points-of-parity and points-of-difference
    Core brand values
    Brand mantra

    Plan and implement Mixing and matching of brand elements


    brand marketing programs Integrating brand marketing activities
    Leveraging of secondary associations

    Brand value chain


    Measure and interpret Brand audits
    brand performance Brand tracking
    Brand equity management system

    Brand-product matrix
    Grow and sustain Brand portfolios and hierarchies
    brand equity Brand expansion strategies
    18
    Brand reinforcement and revitalization

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