MKT30017- Branding, Innovation and Design Exam Revision WEEK 1: CUSTOMER BRAND RELATIONSHIPS • Difference b/w Product + Brand: Product: anything that satisfy needs + wants à physical goods/services Brand: name, term, sign, design to ID the goods/services à differ from comp. • Why Brand important? - Impact on how feel/act - Brands impact on aspects of our lives à how we live, drive, clothes, etc. - Brands impact on how we perceive + want to be perceived - Impact on consumer behaviour/decision making process/consider/choice • Branding Models (to build brand identity) 1. Mind Share Branding: Mind share relates generally to the development of consumer awareness or popularity à When people think of examples of a product type or category à The aim of mind share is to establish a brand as being one of the best kinds of a given product or service Eg. Dove (soap), Oral B (dental care), Ikea (flat pack furniture) 1. Identifies distinctive benefits from one another 2. Differentiates from comp. 3. Compulsively reiterates unique benefit across ALL marketing à Brand onion model (brand core identity/essence remains unchanged while the extended identity/outer layer can be updated) 2. Emotional Branding: Mind share but acknowledges that consumers have power Emotional appeals into branding à spur emotionally charged r/ships Decisions made emotionally Eg. Dove (self esteem) Typology; arranged marriages (adopt via husband’s preferences), casual friends (cleaning brands), committed (cooking, cleaning brands), best friends (running shoes, diet coke), Kinships (tea inherited from mum), Rebound, Childhood friendships, dependencies, flings, etc. 3. Viral Branding: Ensuring that consumers have something to talk about + channels to do so Consumers influence creation of brand Given meaning via trendsetters + influencers à spread interest Eg. Lululemon, GoPro, Dove
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