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product brang mngment
Terms in this set (150)
-Different components that identifies and differentiates a brand
-Name, logo, symbol, package design, or other characteristic
-Can be based on people, places, things, and abstract images
Through ______, organizations:
-Create perceived differences amongst products
-Develop loyal customer franchise
-Create value that can translate to financial profits
Roles that brands play
-Identification of source of product
-assignment of responsibility to product maker
-search cost reducer
-promise, bond, or pact with maker of product
-signal of quality
Roles that brands play
-means of identification to simplify handling or tracing
-means of legally protecting unique features
-signal of quality level to satisfied customers
-means of endowing products with unique associations
-source of competitive advantage
-source of financial returns
-______ is universal and pervasive in different product categories
-Applicable to both tangible and intangible offerings of an organization
-Technological developments have impacted the way firms market their offerings
-Organizations reap financial benefits from positive brand images
Factors responsible for branding challenges
savvy customers, economic downturns, brand proliferation, media transformation, increased competitions, increased costs, greater accountability
Principles of _____
-Differences in outcomes arise from the "added value" endowed to a product
-The added value can be created for a brand in many different ways
-Provides a common denominator for interpreting marketing strategies and assessing the value of a brand
-There are many different ways in which the value of a brand can be exploited to benefit the firm
branding and brand equity
Strategic brand management process
identifying and developing brand plans, designing and implementing brand marketing programs, measuring and interpreting brand performance, growing and sustaining brand equity
-Brand positioning model - guide integrated marketing
-Brand resonance model - active loyalty
-Brand value chain - trace value creation
identifying and developing brand plans
-Choosing brand elements - name alone; net substance
-Integrating the brand into marketing activities and the supporting marketing program
-Leveraging secondary associations
designing and implementing brand marketing programs
Brand equity measurement system involves:
-Brand tracking studies
-Brand equity management system
=Brand Equity Reports
measuring and interpreting brand performance
-Defining brand architecture - brand portfolio and brand hierarchy
-Managing brand equity over time
-Managing brand equity over geographic boundaries, cultures, and market segments
growing and sustaining brand equity
-Approaches brand equity from the perspective of the consumer
-Stresses that the power of a brand lies in what resides in the minds and hearts of customers
"=Occurs when the consumer has a high level of awareness and familiarity with the brand and holds some strong, favorable and unique brand associations in memory"
-Differential effect that brand knowledge has on consumer response to the marketing of that brand
Customer Based Brand Equity (CBBE)
-Key to create brand equity
=Creates the ________ that drives brand equity
-Marketers need an insightful way to represent how brand knowledge exists in consumer memory
Sources of brand equity
brand awareness, brand image
brand recognition, brand recall
Consumers ability to confirm prior exposure to the brand when given a CLUE.
Consumers ability to retrieve the brand from memory when given the category
If decisions are made away from the point-of-purchase then ______ is important.
-Critical for services and online brands
CH2 Advantages of brand awareness
-To create a brand image, first establish a brand node in memory which helps stores brand associations.
CH2 Advantages of brand awareness
-Raising brand awareness increases likelihood that brand will be in consideration set.
CH2 Advantages of brand awareness
-Some consumers buy only well-established brands (in absence of well-formed attitudes)
-Results when consumers lack purchase motivation or purchase ability.
-When a lack of differentiation are perceived among the choices.
lack of motivation
-Consumers don't have the necessary knowledge or experience to judge.
=Use Heuristics (Rules of Thumb)
Consumer purchase ability
-Through "experiences" with the brand
-Through experience and exposure to brand elements - name, symbol, logo, character, packaging or slogan
=Events, sponsorships, advertising, publicity
Establishing brand awareness
Once Brand Awareness Is Established, Emphasize a Brand Image
create awareness through repeated exposure, force associations with product category, then build brand image
Two questions often arise in brand marketing:
What makes a brand strong?
How do you build a strong brand?
-More deeply a person thinks about product information and relates it to existing brand knowledge
Strength of brand associations
-Is higher when a brand possesses relevant attributes and benefits that satisfy consumer needs and wants
Favorability of brand associations
-"Unique selling proposition" of the product
-Provides brands with sustainable competitive advantage
Uniqueness of brand associations
-"A ______ has a 'foot in the present' and a 'foot in the future'".
-Brand has room to grow.
-Careful to identify all relevant points-of-parity.
*Many times overlook areas of improvement
-Competitors' POD need to be your POPs.
-Consumer research regarding trade-offs is helpful.
-Should reflect the consumer's point of view
-Identifying and establishing brand positioning
Basic concepts, target market, nature of competition, points-of-parity and points-of-differnce
-Act of designing the company's offer and image so that it occupies a distinct and valued place in the target customers' minds
-Finding the proper "location" in the minds of consumers or market segment
-Allows consumers to think about a product or service in the "right" perspective
basic concepts of brand positions
-________ -Divides the market into distinct groups of homogeneous consumers who have similar needs and consumer behavior
-Involves identifying segmentation bases and criteria
=Identifiability (Can you identify them?)
=Size (Are there adequate sales?)
=Accessibility (Specialized distribution
and communication media available to reach
=Responsiveness (How favorably will the segment respond?)
market segmentation (target market)
Consumer segmentation basis
behavioral, demographic, psychographic, geographic
Business-to-business segmentation basis
nature of good, buying condition, demographic
When consumers react less favorably to marketing activity for the brand compared with an unnamed or fictitiously named version of the product.
The three key ingredients of CBBE:
differential affect, brand knowledge, consumer response to marketing
-Marketers should consider the money spent in brand building as an " investment".
-On the basis of the past experience, what consumers saw, heard, learned, felt, and experienced about the brand should be analyzed.
-The quality of the investment in brand building is the most critical factor, not the quantity.
brand as a reflection of the past
-Brand knowledge that marketers create over time, which allows them to determine appropriate and inappropriate future directions for the brand.
Brand equity offers focus and guidance, provides a -means to interpret past marketing performance and design future marketing programs.
brand as a direction of the future
Descriptive features that characterize a product or service.
The personal value and meaning that consumers attach to the product or service attributes.
Fundamental need or want that consumers satisfy by consuming the product or service.
core benefit level
Basic version of the product containing only those attributes or characteristics absolutely necessary for its functioning but with no distinguishing features.
generic product level
When consumers react more favorably to a product and the way it is marketed when the brand is identified than when it is not.
Set of attributes or characteristics that buyers normally expect and agree to when they purchase a product.
expected product level
Additional product attributes, benefits, or related services that distinguish the product from competitors.
augmented product level
All the augmentations and transformations that a product might ultimately undergo in the future.
potential product level
5 levels of meaning for a product
core benefit level, generic product level, expected product level, augmented product level, potential product level
-Evaluated on the basis of attributes such as sturdiness, size, color, style, design, weight, and ingredient composition by visual inspection.
-Example - Grocery
-Evaluated on the basis of features such as durability, service quality, safety, and ease of handling.
-Example - Automobile tires
-Consumers may rarely learn attributes.
-Example - Insurance
-Product does not perform up to expectations.
-Product poses a threat to the physical well-being or health of the user or others.
-Product is not worth the price paid.
-Product results in embarrassment from others.
-Product affects the mental well-being of the user.
-Failure of the product results in an opportunity cost of finding another satisfactory product.
-Ensure that entire organization supports branding and brand management.
-Adopt a corporate branding strategy if possible and create a well-defined brand hierarchy.
-Frame value perceptions.
-Link relevant non-product-related brand associations.
-Find relevant emotional associations for the brand.
Segment customers carefully both within and across companies.
guidelines for b2b branding
-Understand your brand hierarchy and manage it appropriately over time.
-Know who your customer is and build an appropriate brand strategy.
-Realize that building brand equity and selling products are two different exercises.
-Brands are owned by customers, not engineers.
-Brand building on a small budget necessitates leveraging every possible positive association.
-Technology categories are created by customers and external forces, not by companies themselves.
-The rapidly changing environment demands that you stay in tune with your internal and external environment.
-Invest the time to understand the technology and value proposition and do not be afraid to ask questions.
Guidelines for high-tech branding:
=Less tangible than products and vary in quality.
Depend on the particular person or people providing them.
=Branding addresses problems related to intangibility and variability.
-Brand symbols help make abstract nature of the services more concrete.
-Provides competitive edge to the services.
role of branding with services
-Offer specialized expertise and support to other businesses and organizations.
-Combination of B2B and traditional consumer services branding.
-Harder to standardize
-Threat from greater equity of employees
role of branding with professional services
It has become increasingly difficult to pursue consumers because:
-Consumers and businesses have become more experienced with marketing, more knowledgeable about how it works, and more demanding.
-Current marketing environment has vast number of sources of information that consumers may consult.
-Empowered consumers play an active role in a brand's fortune.
-Changes in economy impact consumers' purchasing power.
-Research suggest that during recession consumer switch to less expensive products.
-Marketers have increasingly added new products under their brand umbrella.
-Multiple product brands complicate the decision making process for marketers.
-As large number of brands engage in expansion, channels of distribution become clogged, and brands struggle to get products on the shelf.
-Erosion or fragmentation of traditional advertising media and the emergence of interactive and nontraditional media, promotion, and other communication alternatives.
-Marketers are spending more on nontraditional forms of communication.
-Both demand and supply factors have contributed to the increase in competitive intensity.
-Demand for many products and services has flattened and hit the maturity stage, or even the decline stage, of the product life cycle.
-On the supply side, new competitors have emerged due to factors such as globalization, low priced competitors, brand extensions, deregulations.
-The cost of introducing a new product or supporting an existing product has increased rapidly, making it difficult to match the investment and level of support that brands received previously.
-Different organizational pressures often encourage quick-fix solutions which may have adverse long-run consequences.
The best test of the brand-building contribution of a brand element is what consumers would think about the product or service if they knew only its brand name or its associated logo or other element.
choosing brand elements
Although the judicious choice of brand elements can make some contribution to building brand equity, the biggest contribution comes from marketing activities related to the brand.
Integrating the brand into marketing activities and the supporting marketing program
Because the brand becomes identified with another entity, even though this entity may not directly relate to the product or service performance, consumers may infer that the brand shares associations with that entity, thus producing indirect or secondary associations for the brand.
leveraging secondary associations
Comprehensive examination of a brand to, assess its health, uncover its sources of equity, and suggest ways to improve and leverage that equity.
Collect information from consumers on a routine basis over time, typically through quantitative measures of brand performance on a number of key dimensions marketers can identify in the brand audit or other means.
brand tracking studies
Set of organizational processes designed to improve the understanding and use of the brand equity concept within a firm.
brand equity management systems
Three steps that help implement a brand equity management system are
creating brand equity charters, assembling brand equity reports, and defining brand equity responsibilities.
-Provides general guidelines about branding strategy and the brand elements to be applied across all the different products sold by the firm.
-Two key concepts are:
_____: Set of different brands that a particular firm offers for sale to buyers in a particular category.
_____: Displays the number and nature of common and distinctive brand components across the firm's set of brands.
defining brand architecture
-A long-term perspective of brand management recognizes that any changes in the supporting marketing program for a brand may affect the success of future marketing programs.
-Produces proactive strategies designed to enhance customer-based brand equity and reactive strategies to revitalize a brand that encounters problems.
managing brand equity over time
-In expanding a brand overseas, managers need to build equity by relying on specific knowledge about the experience and behaviors of those market segments.
Managing brand equity over geographic boundaries, cultures, and market segments
-Considers resources, capabilities and likely intentions of other firms.
-Allows marketers to choose markets where consumers can be profitably served.
-Even if a brand does not face direct competition in its product category, and thus does not share performance related attributes with other brands, it can still share more abstract associations and face indirect competition in a more broadly defined product category.
-Result of broader category competition or the intended future growth of a brand.
multiple frames of refernce
-Attributes or benefits that consumers strongly associate with a brand, positively evaluate, and believe that:
=They cannot be found to the same extent with a competitive brand.
-Functional-performance related considerations.
-Abstract-imagery related considerations.
-Attributes shared with other brands.
-Three types of associations are:
______- of-parity: Necessary conditions for brand choice.
______-of-parity: Associations designed to negate competitors' points-of-difference.
______-of-parity: Potential negative associations that arise from the existence of other, more positive associations for the brand.
-Unless certain points-of-parity can be achieved to overcome potential weaknesses, points-of-difference may not even matter.
-There is a "zone" or "range of tolerance or acceptance" with points-of-parity.
-Points-of-parity are easier to achieve than points-of-differences.
POV vs POD
-Short, three-to five-word phrase that captures the irrefutable essence or spirit of the brand positioning.
-Provides guidance about:
=What products to introduce under the brand.
=What ad campaigns to run.
=Where and how the brand should be sold.
A good mantra should provide:
Designing brand manta-brand functions, descriptive modifier, emotional modifier
Nature of the product or service or the type of experiences or benefits the brand provides.
Combined with brand functions, helps delineate the brand boundaries
Determines how a brand provides benefits and in what ways
-Should be developed at the same time as the brand positioning.
-Requires more internal examination and involves input from a wider range of company employees.
-Based on core brand associations, a brainstorming session can attempt to identify PODs, POPs, and different brand mantra candidates.
implementing brand mantra
breadth and depth of awareness, product category structure, strategic implications
-Measures various aspects of the awareness of the brand:
-To what extent is the brand top-of-mind and easily recalled or recognized.
-What types of cues or reminders are necessary?
How pervasive is this brand awareness?
Range of purchase and usage situations in which the brand element comes to mind.
Ease with which brand elements can be recalled.
How product categories are organized in the consumer's memory.
product category structure
Where do consumers think about a brand?
When consumers think of a brand?
How often do consumers think of a brand?
Describes how well the brand:
-Meets customers' more functional needs
-Rate on objective assessments of quality
-Satisfies utilitarian, aesthetic, and economic customer needs and wants in the product or service category
Purchase and usage situations/imagery
Brand personality and values
Brand history, heritage, and experiences
-Type of person or organization who uses the brand.
Results in customers' mental image of actual users or more aspirational, idealized users.
-Consumers may base associations of a typical or idealized brand user on descriptive demographic factors or more abstract psychographic factors.
=Demographic factors: Gender, age, race, income.
=Psychographic factors: Attitudes toward life, careers, possessions, social issues, or political institutions.
-Associations that tell consumers under what conditions or situations they can or should buy and use the brand.
-Associations to a typical usage situation can relate to the time to use the brand, location, and type of activity during which to use the brand.
purchase and usage situations/imagery
-Through consumer experience or marketing activities, brands may take on personality traits.
-Five dimensions of brand personality:
=Sincerity (down-to-earth, honest, wholesome, and cheerful)
=Excitement (daring, spirited, imaginative, and up-to-date)
=Competence (reliable, intelligent, successful)
=Sophistication (upper class and charming)
=Ruggedness (outdoorsy and tough)
brand personality and values
-Brands association with its past and with certain noteworthy events in the brand's history.
brand history, heritages, and experiences
quality, credibility, consideration, superiority
-Specific attributes and benefits of the brand that help develop consumer attitudes toward the brand.
-Important consumer attitudes relate to its perceived quality and to customer value and satisfaction.
-Perceived quality measures are inherent in many approaches to brand equity.
-Extent to which customers see the brand as credible in terms of perceived:
=Expertise - Competence, innovation, and ability to lead.
=Trustworthiness - Dependability and keeping customer interests in mind.
=Likability - Fun, interesting, and worth spending time with.
-How personally relevant customers find the brand.
-Crucial filter in terms of building brand equity.
-Extent to which customers view the brand as unique and better than other brands.
-Critical to building intense and active relationships with customers.
-Depends to a great degree on the number and nature of unique brand associations that make up the brand image.
-Customers' emotional responses and reactions to the brand
-Relate to the social currency evoked by the brand
=Experiential and immediate, increasing in level of intensity
=Private and enduring, increasing in level of gravity
important brand building feelings
warmth, fun, excitement, security, social approval, self-respect
behavioral loyalty, attitudinal attachment, sense of community, active engagement
-Value creation begins with the marketing program investment.
-Value creation requires more than the initial marketing investment.
-Provides a detailed road map for tracking value creation that can make marketing research and intelligence efforts easier.
Brand value implications
CH5 Conceptualizing the leveraging process
Linking the brand to some other entity may:
-______ from the brand to the entity
-______ brand associations
create a new set of associations
affect the existing
CH5 Creation of new brand associations
-Secondary brand associations are most likely to affect evaluations of a new product when:
Consumers lack either the motivation or the ability to judge product-related concerns
CH5 Effects on existing brand knowledge
What is true for the new association must be true for the brand
Factors predicting the extent of leverage from linking the brand to another entity:
awareness and knowledge of the entity
meaningfulness of the knowledge and the entity
transferability of the knowledge and the entity
To________ marketers must:
-Take into account consumers' awareness of that entity, as well as how the associations, judgments, or feelings for it might become linked to the brand or affect existing brand associations.
-Choose entities for which consumers have some or even a great deal of similar associations.
-Design a commonality leveraging strategy when consumers have associations to another entity that are congruent with desired brand associations.
-Practice complementarity branding strategies that can help deliver the desired brand position.
leverage secondary brand associations
allows marketers to create or reinforce an important point-of-difference or a necessary or competitive point-of-parity versus competitors.
leveraging secondary associations
create a new brand, adopt or modify existing brand, combine an existing and a new brand
Existing brands can be related to a ______, and can be a source of brand equity
corporate or family brand
-Can be linked to the brand to generate secondary associations
-Can create strong points-of-difference
country of origin or geographic location
-Their beliefs about the quality of certain types of products from certain countries
-The image that these brands or products communicate
What consumers choice of brand orginating in different countries is based on
-_____ are more strongly favored in collectivistic countries.
-in _____ that are more guided by self interest and personal goals, consumers demand stronger evidence of product superiority.
CH5 Channel Distribution
-Retail stores can indirectly affect brand equity through an "image transfer" process
-Retailers have their own brand images in consumers' minds due to the following associations:_____
-Customer base can be expanded by tapping into new channels of distribution
Quality of service
When two or more existing brands are combined into a joint product or are marketed together in some fashion
To create a strong _____:
-Adequate brand awareness.
-Sufficiently strong, favorable, and unique associations.
-Positive consumer judgments and feelings.
-There must be a logical fit between the two brands.
M-arketers should make detailed plans to legalize contracts, make financial arrangements, and coordinate marketing programs.
-Creates brand equity for materials, components, or parts that are contained within other branded products
-Often a signal of quality
-Uniformity and predictability can reduce risks and reassure consumers
-Creates contractual arrangements whereby firms can use:
=Names, logos, and characters of other brands to market their own brands for some fixed fee
-Can also provide legal protection for trademarks
-Risk - A trademark may become overexposed if marketers adopt a saturation policy
-Licensing of company names, logos, or brands for use on various, often unrelated products
-Firms may use to:
=Generate extra revenue and profits
=Protect their trademarks
=Increase their brand exposure
=Enhance their image
-Risk - Product may not live up-to the image established by the brand
corporate trademark licensing
-A _____ can:
-Draw attention to a brand
-Shape brand perceptions, by virtue of consumers perceptions of the famous person
-They should have:
A high level of visibility
A rich set of potentially useful associations, judgments, and feelings
-Have their own set of associations that may become linked to a sponsoring brand under certain conditions
-Contribute to brand equity by:
=Becoming associated to the brand and improving brand awareness
=Adding new associations
=Improving the strength, favorability, and uniqueness of existing associations
sporting cultural or other events
Other entities include:
The company that makes the product
Where the product is made
Where the product is purchased
Related people, places, or things
The extent to which an entity can be leveraged as a source of equity depends on:
Consumer knowledge of the entity
How easily the appropriate associations or responses to the entity transfer to the brand
Product/marketing expansion grid
Current Products New Products
Current Market Market Penetration Product Development
New Market Market Development Diversification
Line vs Category extensions
-Adding an additional product to an existing product/brand line.
-Creating a new product line with the existing brand
-Can improve your brand image
-Reduces risk perceived by customers if new product is a brand (that they know)
-Increases chances of gaining distribution and trial
-Avoids cost of developing a new brand
-Permits consumer variety seeking
-Packaging and labeling efficiencies
-So many varieties confuse and frustrate consumers
-Can encounter retailer resistance to too many skus
-Can Dilute Brand Image
CH6 Researching new brand and products
-Adjective ratings and checklists
Qualitative research techniques
-Direct and indirect measures of brand recognition
-Aided and Unaided measures of recall
-Open ended and scale measures of specific brand attributes and benefits
=strength, favorability, uniqueness
-Overall judgments and feelings
-Overall relationship measures
quantitative research techniques
-Provides a rough measure of strength, favorability and uniqueness of brand associations
-Order of elicitation is important (early or late in the sequence)
To understand the favorability:
-What do you like best about the brand? What are its positive aspects?
-What do you dislike? What are its disadvantages?
-What do you find unique about the brand? How is it different from other brands? In what ways is it the same?
Divide in phrases and aggregate them across consumers in categories.
CH6 Free association importance
-Simplest and most powerful way to profile brand associations
-Coding free association responses in terms of the order of elicitation - early or late in sequence - is a measure of ____
-Diagnostic tools to uncover the true opinions and feelings of consumers when they are unwilling or otherwise unable to express themselves on these matters
_____ strives to uncover and discover while _____research aims to prove or disprove.
Quantitative research techniques
The advantage of recall measures is that they yield insight into how brand knowledge is organized in memory and what kind of cues or reminders may be necessary for consumers to be able to retrieve the brand from memory.
strategic implications of awareness
-Identify the brand under various circumstances.
-Do you recognize these brand names? If so, with what sport?
test brand awareness with with brand recognition research
-Higher in some categories
CH6 Scaling considerations
respondents checked off which attributes applied.
CH6 Brand relationships
-Ask questions (which brand did you last buy?/which will you buy next time)
-If the brand had not been available, which one would you buy
Reading the analytics associated with the brand
Product and Brand manager role
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