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    Brand Management

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    Akshay Baid
    This document provides an overview of brand management concepts from an MBA perspective. It begins with definitions of a brand, including that a brand represents a singular idea or concept owned in the mind of the prospect. It then discusses several aspects of brands, including that brands are the most valuable asset to companies, are the driving force of businesses, and need to be regularly fortified. The document also summarizes several models for understanding brands, including Aaker's brand model which views brands from the perspectives of product, identity, organization, symbol, and person. It concludes by discussing brand equity and how brands can have significant financial value as assets.

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    Brand Management

    Uploaded by

    Akshay Baid
    169 views99 pages
    This document provides an overview of brand management concepts from an MBA perspective. It begins with definitions of a brand, including that a brand represents a singular idea or concept owned in the mind of the prospect. It then discusses several aspects of brands, including that brands are the most valuable asset to companies, are the driving force of businesses, and need to be regularly fortified. The document also summarizes several models for understanding brands, including Aaker's brand model which views brands from the perspectives of product, identity, organization, symbol, and person. It concludes by discussing brand equity and how brands can have significant financial value as assets.

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    Brand management

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    This document provides an overview of brand management concepts from an MBA perspective. It begins with definitions of a brand, including that a brand represents a singular idea or concept owned in the mind of the prospect. It then discusses several aspects of brands, including that brands are the most valuable asset to companies, are the driving force of businesses, and need to be regularly fortified. The document also summarizes several models for understanding brands, including Aaker's brand model which views brands from the perspectives of product, identity, organization, symbol, and person. It concludes by discussing brand equity and how brands can have significant financial value as assets.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    169 views99 pages

    Brand Management

    Uploaded by

    Akshay Baid
    This document provides an overview of brand management concepts from an MBA perspective. It begins with definitions of a brand, including that a brand represents a singular idea or concept owned in the mind of the prospect. It then discusses several aspects of brands, including that brands are the most valuable asset to companies, are the driving force of businesses, and need to be regularly fortified. The document also summarizes several models for understanding brands, including Aaker's brand model which views brands from the perspectives of product, identity, organization, symbol, and person. It concludes by discussing brand equity and how brands can have significant financial value as assets.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 99
    At a glance
    Powered by AI
    Some of the key takeaways from the document are that brands help differentiate products, build customer loyalty, and are one of the most valuable assets for any company. Various models for measuring brand equity like Brand Asset Valuator, Brand Dynamics, and BRANDZ models are discussed.

    Some of the major models discussed for measuring brand equity are Brand Asset Valuator, Brand Dynamics model, and BRANDZ model. The Brand Asset Valuator compares brand equity across thousands of brands. The Brand Dynamics model reveals a brand's current equity and opportunities for growth based on Millward Brown's framework. The BRANDZ model proposes that brand building occurs in a sequential series of steps with each step dependent on the previous one.

    The Aaker model discusses brand equity from four perspectives - as a product, organization, person and symbol. Important factors that help build brand equity according to this model are product attributes, quality, value, users and uses associated with the brand.

    BRAND Management

    MBA

    Mayank Ranjan
    Assistant Professor
    School of Business Management
    NMIMS University, Mumbai
    Mayank Ranjan , Assistant Professor, NMIMS - Mumbai
    But first, let’s break some ice…

    https://www.youtube.com/watch?v=i1xz5Kv-7VY&t=14s
    From the time you wake up..
    • Turn off that alarm – brush your teeth –
    take a shower – have breakfast – get
    dressed – travel to college – have lunch-
    do assignments - go out for dinner at- fall
    asleep

    • We use more than 250 brands by the time


    our day ends !!
    What is a brand ?
    A singular idea or concept that
    you own inside the mind of
    the prospect.
    ‘A brand for a company is like
    a reputation for a person.
    You earn reputation by trying
    to do hard things well’
    -Jeff Bezos
    ‘I am not an actress. I don’t
    think I am an actress. I think I
    have created a brand and a
    business’
    - Pamela Anderson
    Brand

    Is the most valuable asset


    to any company
    Brand

    is the driving force of any


    business
    American marketing Association
    ‘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 to differentiate them from those of
    competitors’
    Brand

    is the art and cornerstone of


    marketing
    The most distinctive skill of
    professional marketer is their
    ability to create, maintain,
    protect and enhance brands
    A brand is essentially a
    marketer’s promise to deliver
    a specific set of features,
    benefits and services
    consistently to the buyers
    Brands vary in the amount of
    power and value they have in
    the marketplace. Some brands
    are not known, while some
    brands are known globally.
    Old Monk

    Whatsapp

    Tupperware

    Wikipedia

    Rolls-Royce
    Brand helps the customer to
    differentiate between the
    different products and on the
    other hand customers are
    also loyal to the brand
    Differentiation is psychological
    and these differences are created
    with the right kind of messages
    projected through right media
    vehicles to the customers.
    Branding

    also helps to fight the


    price wars
    Brand
    Needs to be regularly fortified
    through the real difference-
    innovation and psychological
    differences
    - image building exercises
    AAKER
    MODEL:
    Brand as
    product

    Brand
    Brand as Brand as
    symbol
    Identity organization
    System

    Brand as
    Person
    BRAND AS A PRODUCT
    Perspective Description
    Product Scope - Associations with product class:
    - With what product(s) the brand is associated?
    •Baskin Robbins  Ice Cream
    •Compaq  Computers
    •HP Jet line  Printers (ink jet, laser jet)

    Product Attributes - Functional/Emotional Benefits


    - A product related attribute can create a value proposition by
    offering
    something extra (like features or services) or better
    Quality / Value Value is closely related to quality; it enriches the concept by
    adding the price dimension.
    Uses Clorox bleach has become strongly associated with the whitening
    of clothing even though bleach can be used for cleaning and
    disinfecting a wide variety of thing.
    Users The Brand can be positioned also by a type of users (Gerber: Babies,
    Mobacco: Men’s wear –Classic--, Avon: female elegant)
    Country of Origin One of the strategic options is to associate the brand with a
    country or region that will add credibility to it (Swatch Watches:
    Swiss)
    BRAND AS AN
    ORGANIZATION
    •It focuses on attributes of the organization rather than those of
    the product or the service such as:
    • Innovation
    • Drive for quality
    • Concern for the environment
    • Culture
    • Values
    • Programs of the company
    • Vision
    • Global Vs. Local

    Organizational attributes usually apply to set of products not


    only one product, so that if any competitor can compete to one
    product will not be able to compete to the organizational
    attributes
    BRAND AS A PERSON: BRAND
    PERSONALITY

    A brand can be perceived as being competent, impressive,


    trustworthy, fun, active, humorous, casual, formal, youthful
    or intellectual.

    Brand personality:
    Can help create self-expressive benefit that the customer
    can express his/her own personality through this brand
    Brand personality can be the basis of a relationship
    between the customer and the brand
    May help communicate a product attribute and thus
    contribute to a functional benefit (Michelin man’s strong
    personality - Fido Dido funny, casual guy)
    Brand as an asset
    The “brand as asset” view had both face validity and
    quantitative support.

    Face validity came from a realization that, especially in


    service and B-to-B contexts, customers were making
    purchase decisions and appraising their user experiences on
    brand elements that went beyond price and functional
    attributes.

    Quantitative support was based on data-based efforts that


    showed that brands did have substantial asset value, and
    made the new paradigm palatable to the CFOs and CEOs of
    the world.
    Brand as an Identity
    Brand is the perception of the company in the eyes of the
    world.

    Branding involves the marketing practice of actively shaping


    a distinctive brand.

    Brand identity is the collection of all brand elements that


    the company creates to portray the right image of itself to
    the consumer.
    Brand as an Identity
    Brand is the perception of the company in the eyes of the world.

    Branding involves the marketing practice of actively shaping a


    distinctive brand.

    Brand identity is the collection of all brand elements that the


    company creates to portray the right image of itself to the
    consumer.
    Brand identity is the face of a brand. a brand is an
    emotional and even philosophical concept, while brand
    identity is the visual component of a brand that represents
    those larger ideas.

    Brand identity includes logos, typography, colours,


    packaging, and messaging, and it complements and
    reinforces the existing reputation of a brand.

    Brand identity attracts new customers to a brand while


    making existing customers feel at home. It's both outward-
    and inward-facing.
    I
    Memorable logo
    BRAND ELEMENTS

    BRAND NAME LOGO


    THEME LINE
    SOUND

    SMELL
    TASTE
    Brand
    Personality
    &
    Brand
    Identity
    Sincerity Domestic/ Honest/
    Genuine/ Cheerful

    Tough/ Strong/
    Ruggedness
    Outdoorsy

    Reliable/
    Brand Ruggedness

    Competence
    Excitement
    Responsible/
    Dependable/ Efficient
    Personality
    Glamorous/
    Sophistication Presentation/
    Charming/ Romantic

    Excitement Daring/ Spirited/


    Imaginative/
    Up-to-date
    BRAND IMAGE TRAP
    • Brand image is how customers perceive the brand

    Brand Image Brand Identity


    passive and looks Should be active and look to
    to the past the future, reflecting
    associations aspired for brand
    Tends to be tactical Should be strategic, reflecting
    a business strategy leading to
    sustainable advantage
    Might not be salient Should reflect brand’s
    enduring qualities
    BRAND IDENTITY
    DEFINITION

    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
    should help establish a relationship between
    the brand and the customer by generating a
    value proposition involving functional,
    emotional, or self-expressive benefits”
    KAPFERER PRISM
    Brand Equity
    Brand equity
    • Brand equity is the financial value that the
    unique usage of a brand can contribute with
    (Keller, 1993).
    • Brand equity is the result of consumer
    response to marketing activities of the brand.
    John Stewart
    Former CEO of Quaker Oats

    ‘If this business were split up, I will give you the
    land and bricks and mortar, and I would keep
    the brand and trademarks, and I would fare
    better than you’
    Mc Donalds , CEO
    ‘If every asset we own, every building and every
    piece of equipment were destroyed in a terrible
    nature disaster, we would be able to borrow all
    the money to replace it very quickly because of
    the value of our brand. The brand is more
    valuable than the totality of all these assets.’
    David Aaker
    ‘Brands have equity because they have high
    awareness; many loyal customer; a high
    reputation for perceived quality; proprietary
    brand assets such as access to the distribution
    channels or to patents; or the kind of brand
    association, such as personality association’
    Creating brand equity
    WHAT ISBRAND EQUITY
    BRAND BRAND BRAND BRAND
    AWARENESS KNOWLEDGE RESPONSE EQUITY

    Consumer
    responses that add
    The extent
    Thoughts, feelings, to brand value
    to which a
    brand is
    recognized
    by a
    images,
    experiences and
    beliefs associated
    depend solely on
    the marketing of
    the brand.
    ?
    potential with the brand. Advertising plays a
    customer crucial role in
    adding value to the
    brand.
    BrandEquity

    • Brand equity is the added value endowed


    to products and services with consumers.
    • It is often reflected in the way consumers
    perceive the brand, its products, services
    and the market conditions thereof
    [Philip Kotler]
    Importance of brand equity
    • Businesses can charge a premium
    • Beneficial for BrandExtension
    • Boosts the company’s stock price
    • Increase in the BrandValue
    • Save advertisingcosts
    Give your brand an identity
    ROLE OF BRANDS FOR CUSTOMERS
    • Identification of theproduct and its source
    • Promise by the product or serviceprovider
    • Sign of quality, reliability and trust
    Build Trust and Brand Promise
    Design holistic marketing plans

    Personalize

    Integrate Internalize
    Leveraging secondary associations

    • Creating brand equity


    by linking the brandto
    other information in a
    meaningful way in the
    consumer’s memory.

    • Probable links are


    People, Places, Things
    and Other Brands.
    BRAND ASSET VALUATOR MODEL:
    Brand Stature (past performance)
    1. Esteem: How the brand is regarded or respected?
    Measure perception of quality and loyalty
    2. Knowledge: How familiar/intimate consumers with the
    Brands?
    Brand Strength (future):

    3. Differentiation: Different from others

    4. Relevance: Breadth of brand’s appeal: Does it offer me


    something?
    Brand Asset Valuator
    • Developed by Advertising Agency Young and
    Rubicam
    • BAV compares the brand equity of
    thousands of brands across hundreds of
    different categories.
    Brand Asset Valuator
    Brand Dynamics Model

    • Brand Dynamics is a system of brand equity


    measurements, based on Millward Brown's
    Meaningfully Different Framework, that
    reveals your brand's current equity and
    opportunities for growth
    Brand Dynamics Model
    BRANDZ MODEL:

    Bonding
    Nothing else beats it?

    Can it offer
    something better Advantage
    than other?
    Can it deliver?
    Performance

    Do it offer
    Relevance
    something to
    me?
    Do you know
    Presence
    about it?
    Brandz Model

    • Developed by research consultant Milward


    Brown and WPP
    • Brand building involves a sequential series
    of steps, where each step is contingent upon
    successfully accomplishing the previous
    step.
    Brand Resonance Model

    K.L. Keller and K.K Devay


    have established the concept of
    Customer Based Brand
    Equity(CBBE).
    The aim is to know what is a strong
    brand and how to build a strong
    brand.
    Brand Resonance Model

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