Brand Management

Brand
David Ogilvy defines brands as the intangible sum of a products attributes: its name, packaging, and price, its history, its reputation, and the way its advertised. Kotler defines brands as 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 the competitor.

Types of Brand

Functional brand
Here, the functional dimension of the brand is far more visible and appealing than the emotional or symbolic dimension. For instance, buying of a painkiller would be by and large a rational, left brain driven activity. What implications does one have for marketers of Aspirin, Aspro, Anacin? Here the brand should be functions driven. The functional dimension is the products attributes and benefits or the tangible properties while the symbolic dimensions are the intangible aspects of the brand.

Symbolic brand
Here, the symbolic or emotional dimension is more prevalent than the functional dimension. The decisions would be based on more of the emotional aspect than that of rational aspect. While buying greeting cards, chocolates, toys, apparels, etc. the brands competing in this category need to capture the heart of the customer. The brand must be emotions dominated in order to be consistent with the consumers state of mind.

BRAND EQUITY?
Brand equity is defined in terms of the marketing effects uniquely attributable to the brands -- for example, when certain outcomes result from the marketing of a product or service because of its brand name that would not occur if the same product or service did not have that name.

BRAND EQUITY?
David Aaker defines brand equity as A set of assets and liabilities linked to a brands name and symbol that adds to or subtracts from the value provided by a product or service to a firm and/or that firms customers. The major asset categories are: Brand name awareness Brand loyalty Perceived quality Brand associations

Brand Loyalty
Brand loyalty is a consumers preference to buy a particular brand in a product category.

It occurs because consumers perceive that the brand offers the right product features, images, or level of quality at the right price.
This perception becomes the foundation for a new buying habit. Consumers initially will make a trial purchase of the brand and, after satisfaction, tend to form habits and continue purchasing the same brand because the product is safe and familiar.

Brand Loyalty

Brand Awareness
Awareness refers to the strength of a brands presence in the consumers mind. Awareness is measured according to the different ways in which consumers remember a brand, ranging from recognition to recall to top of the mind.

Companies often rerun advertisement on different channels over the year to sustain the brand awareness and ensure that the consumers are exposed to the brand.
Complan repeats the same TV commercials for different target markets over a period of time to ensure brand recall and visibility . Awareness for Dandi Salt is higher than Saffola Salt (despite the fact that Saffola has been in the market for longer) due to constant advertising ensured by Dandi.

BRAND ASSOCIATIONS
The associations consumers make with brand support brand equity. These associations may include product attributes, a celebrity spokesperson or a symbol. The feelings, beliefs and knowledge that consumers (customers) have about brands Brand Associations are not benefits, but are images and symbols associated with a brand or a brand benefit. For example- The Nike Swoosh, Nokia sound, Film Stars as with Lux, signature tune Tingting-ta-ding with Britannia. Associations are not reasons-to-buy but provide acquaintance and differentiation thats not replicable. Most popular brand associations are with the owners of brand, such as - Bill Gates and Microsoft, Reliance and Dhirubhai Ambani.

Perceived Quality
Perceived quality is a brand association that is elevated to the status of a brand asset for several reasons: Among all brand associations only perceived quality is known to drive financial performances. Perceived quality is often a major (if not the principal) strategic thrust of business. Perceived quality is linked to and often drives other aspects of a brand is perceived.

BRAND BUILDING STRATEGIES- Product Branding

Product branding
Brand is promoted exclusively acquires its own identity and image. distinct position in the customers mind. The companys name takes a backseat and the product does not get benefits from the company name. The firm is able to cover an entire market spectrum by making multiple brand entries. The drawbacks- essentially cost based. Creating individual brand is costly exercise. Only the firms which have deep pockets and long staying power can adopt this strategy.

BRAND BUILDING STRATEGIES- Line Branding

HUL

Denim Deo

Denim Denim After Shaving Cream Shave

Denim Soap

Denim Talc

Concept: Who doesnt have to try too hard Share common concept and products complement or support each other

LINE BRANDING
Line brands start with a product but later extend to other complimentary or supporting products. The brand appeals to a distinct market segment who appreciate and like the brand concept. The core idea is that the brand connects with the consumer group. Now the customers do not tend to be content with the one product, which the brand offers. Rather they want additional product which go hand in hand with the brand concept or application. This strategy seeks to penetrate the customer rather than penetrating the market. It seeks to fulfill all complementary needs that surround a basic need. Lakme user wants all the products which enhance beauty-beauty lotion, deep pore cleansing cream, lipsticks, nail enamel, eye make up etc.

Brand Extension
In a typical brand extension situation, an established brand name is applied to a new product in a category either related or unrelated, in order to capitalize on the equity of the core brand name. Types of Brand Extension

Brand Extension
Product form extension:
Product launched in a different form usually means line extension rather than brand extension. But if different product form constitutes entirely a different product category from customer behavior perspective, it would be called brand extension. duct Form Extension

Brand Extension
Companion product Brand extension is in the form of companion products is perhaps the most common. The idea perhaps is to capitalize on product complementarily. The consumer may view both products jointly and hence, provide scope for launching brand extension.

Brand Extension
Customer franchise
A marketer may extend a product range in order to meet the needs of a specific customer group. For instance, a company may launch a variety of products meant for e.g. nursery going school children. The focus here is not customer base but their diverse needs.

Brand Extension
Company expertise Brand extensions often come in the forms of different product category introductions using a common name but emanating from common expertise pool. This strategy is particularly true in Japanese companies.

BRAND BUILDING STRATEGIES- Umbrella Branding

UMBRELLA BRANDING
This again is of the type One brand all products'. An umbrella brand is a parent brand that appears on a number of products that may each have separate brand images. Firms have a short-run incentive to reduce quality and save costs, as consumers can only observe quality ex post. Videocon's range of home appliances air conditioners, refrigerators, televisions, washing machines, etc. Phillips also has a whole range of home appliances under the brand name Phillipsthe mixers, irons, televisions, etc

UMBRELLA BRANDING

BRAND BUILDING STRATEGIESDouble Branding

Maruti Suzuki

Maruti 800

Maruti Zen

Maruti Alto

Maruti Esteem

Maruti Baleno

BRAND BUILDING STRATEGIESDouble Branding

Johnnie Walker

Johnnie Walker Red Label

Johnnie Walker Black Label Johnnie Walker Blue Label

SOURCE/DOUBLE BRANDING
Source or double branding strategy combines the firms name with the product brand name. It is the hybrid of umbrella brand and product brand strategy. The product is given a brand name and is combined with the name of the firm. For example, Chetak is the name of the scooter and Bajaj is the company behind it, the brand accordingly becomes Bajaj Chetak. Both names are given equal status and enjoy equal importance in the brands communication. Firms that follow double branding include Maruti(Maruti 800, Maruti Zen, Maruti Baleno), Bajaj (Bajaj sapphire, Bajaj pulsar), tc.

ENDORSEMENT BRANDING
Modified version of double branding It makes product brand name more significant and the corporate brand name is relegated to a lesser status. The brand gets an endorsement that it belongs to a specified company. For E.g.:
Kit Kat gives a signal that it is a Nestl's product Similarly, Dairy Milk gives is a Cadburys brand

ENDORSEMENT BRANDING

Cadburys clairs

Cadburys Perk

Cadburys Dairy Milk

Cadburys Five-star

Thank You

Notes Ppt and a word file will be given