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Brand ManagementBrand Management
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Top 10 brands (Worldwide)Top 10 brands (Worldwide)
Source: Interbrand 2007
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No.1($m 65,324)
No.1($m 65,324)
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No. 2 ($m 58,709)
No. 2 ($m 58,709)
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No. 3 ($m 57,091)
No. 3 ($m 57,091)
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No. 4 ($m 51,569)
No. 4 ($m 51,569)
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No.5 ($m 33,696)
No.5 ($m 33,696)
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No.6 ($m 32,070)
No.6 ($m 32,070)
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No.7 ($m 30,954)
No.7 ($m 30,954)
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No.8 ($m 29,398)
No.8 ($m 29,398)
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No.9 ($m 29,210)
No.9 ($m 29,210)
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No.10 ($m 23,568)
No.10 ($m 23,568)
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Top 10 Trusted Brands: IndiaTop 10 Trusted Brands: India
Source: Economic Times Brand Equity 2008
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No. 1
No. 1
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No. 2
No. 2
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No. 3
No. 3
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No. 4
No. 4
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No. 5
No. 5
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No. 7
No. 7
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No. 8
No. 8
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No. 9
No. 9
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No. 10
No. 10
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What is a Brand?What is a Brand? Keller: A brand is a set ofmental
associations, held by the consumer, which
add to the perceived value of a product orservice
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Mental associationsMental associations
What is the brand territory (perceived
competence; typical products or services;
specific know-how)?
- Gillette
- Nokia
- Dettol
- Karims?
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Mental associationsMental associations
What is its level of quality (low; medium;
premium; luxury)?
What are its properties/merits?
What is its most discriminating quality or
benefit (also called perceived positioning)?
- Dove is not a soap. It is 1/4 moisturizing
cream
- Marlboro is about fierce independence
- Hummer: Like nothing else
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Mental associationsMental associationsWhat typical buyer does the brand evoke?
- Raymonds
- Subhiksha
- Rolex
What is the brand personality and brand
imagery?
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The Product and the brandThe Product and the brand
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ProductProduct Kotler: A product is anything that can be
offered to a market to satisfy a want or
need
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What is a Product?What is a Product?
Kotlers
Five
levels to a
product:
Generic Product
CORE BENEFIT
Expected Product
Augmented Product
Potential Product
The Fundamental Need or Want
that consumers satisfy by
consuming the product or service
Generic ProductBasic Version of the product
containing only those elementsabsolutely necessary to function.
No distinguishing features.
Expected ProductAttributes and Characteristics that
buyers normally expectand agree
to when they purchase a product
Augmented ProductAdditional product attributes,
benefits, or related services that
distinguish the product fromcompetitors
Potential Product
All the augmentations and
transformations that a product
might ultimately undergo in the
future
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Product and brandProduct and brandProduct = Commodity
A product is a produced item always
possessing these characteristics: Tangibility
Attributes and Features
Brand = Mind Set
The sum of all communications and experiences receivedby the consumer and customer resulting in a distinctive
image in their mind set based on perceived emotional
and functional benefits
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Produ
ct and brandPr
odu
ct and brand
Products come to life, live and disappear,
but brands endure e.g. Zen, Honda City,
Bajaj
A brand is the memory of the products
A brand is less elastic than its product. Once
created, like fast-setting concrete it is hardto change
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Whatcan be branded?What
can be branded?
Physical goods
Services
Retailers & Distributors
Online products and services
People and Organizations
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Whatcan be branded?What
can be branded?
Sports, Arts, and Entertainment (ManU,
movies)
Geographic locations (India, Kerala)
Ideas and causes (AIDS ribbons, WWF)
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How do brands provide value?How do brands provide value?
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Providing value to the firmProviding value to the firm
Enhance the effectiveness and efficiency of
marketing programs - one of the rewards for
risk- taking
Decrease brand switching
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Providing value to the firmProviding value to the firm
Higher prices and margins (Brand-involved
consumers bargain less)
Trade leverage
Competitive advantage - create entry
barriers
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Providing value tocustomersProviding value tocustomers
Short cut for interpreting, processing and
storing information
Gives confidence in the purchasing decision
- reduces risk
Enhances use satisfaction
Invaluable - stable anchors in an otherwise
changing world
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BrandingBranding
Branding is about endowing products and
services with the power of brand equity
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Brand EquityBrand Equity
Brand Equity is the added value endowed
to products and services. This value may be
reflected in how consumers think, feel, andact with respect to the brand, as well as the
prices, market share, and profitability that
the brand commands for the firm.
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Brand EquityBrand Equity
. Brand equity is an important intangible
asset that has psychological and financial
value to the firm
Marketing Management: A South Asian Perspective, 12th edition - Kotler et al
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Brand KnowledgeBrand Knowledge
Key to creating brand equity
Creates the differential effect that drives
brand equity
What marketers need is an insightful way to
represent how brand knowledge exists in
consumer memory
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The Associative Network MemoryThe Associative Network Memory
ModelModel
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Brand KnowledgeBrand Knowledge
Consistent with the associative network
model, brand knowledge can be
conceptualized as consisting of a brandnode in memory with a variety of
associations linked to it
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Brand Knowledge componentsBrand Knowledge components
Brand Awareness
Brand Image
Brand awareness is a necessary first step but
not sufficient in building brand equity
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Brand AwarenessBrand Awareness
Related to the strength of the brand node (in
memory) as reflected by consumers ability
to identify the brand under differentconditions e.g. in a retail store display
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Brand ImageBrand Image
Perceptions about a brand as reflected by
the brand associations held in consumer
memory
Brand associations are the other
informational nodes linked to the brand
node in memory and contain the meaning ofthe brand for consumers
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The McDonalds Brand is
The Big Mac Happy Meals
French Fries Red,White & Yellow
Restaurants
Fun For Children Ronald McDonald
Golden Arches Value for Money
BrandBrand
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Sources of Brand EquitySources of Brand Equity
Brand equity occurs when the consumer has
a high level of awareness and familiarity
with the brand and holds some strong,favourable, and unique brand associations
in memory
Knowledge structures are thus produced
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Brand Awareness comprisesBrand Awareness comprises
Brand Recognition confirms prior
exposure to the brand when given the brand
as a cue
Brand Recall recalling the brand when
given the product category e.g. Nokia,
Kelloggs
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Brand Awareness role inBrand Awareness role in
consumer decision makingconsumer decision making
To create brand equity the name must be
first registered in the consumers mind Puts the brand in the considered set
Consumers buy familiar, well-established
brands in some cases low involvementproducts
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Establishing Brand AwarenessEstablishing Brand Awareness
Marketing communication channels
repeated exposure
Brand elements slogans, jingles, music,
characters
Brand positioning
Strong associations with product categorywhen the brand is new
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Brand ImageBrand Image
Direct experience
Communication
Word-of-mouth
Assumptions or inferences from the brand
itself (Name, Logo)
Identification with company, country,
channel of distribution, person or place
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Brand ImageBrand Image
The entire marketing mix affects brand
image
Positioning including POP and POD
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ReadingReading
Strategic Brand Management by Kevil Lane
Keller 2nd edition. Chapter: 1 & 2
Please study from the above book only
those topics covered in the class