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2 Marketing (Fach) / DECISIONS- Branding (Lektion)

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  • -15.3 Brand Architecture - Five Key Questions To Build How much visibility to give the corporate name? Should there be a different name for the company and the commercial brand? How many brand levels to adopt? Should the same architecture apply around the world? What to call new products?
  • -15.3 Branded House vs. House of Brands Branded House (Holding companies, Financial Assets, Newer & Smaller Companies) – Single Brand name Company culture Reduces intra-firm competition Scale economies (Single Brand name across all products): Marketing Mix and Image, Messaging Transfer positive brand associations across products Limit ability to target wide audience, product expansion, risk of tarnished reputation Higher returns at high systematic & ideosyncratic risk Sub Brands: High Stock Returns but high systematic risk House of Brands (Unilever, P&G, Nestle, FMCG) Intra-firm competition Greater presence at retail Better targeting and positioning Unable to transfer positive brand associations Protects parent brand from negative associations. Risk of Cannibalization of own products Greater resources required to manage diverse portfolio Lower Stock Returns at low risk
  • -15 What is a Brand? A brand is a trademark with a unique set of valuable, differentiating associations A product can be copied by a competitor; a brand is unique. A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well. Companies should focus on why brands are valuable and less on how valuable they are Brand = Elements + Association                                     Brand Elements: Name, term, sign, symbol, design; Logo, Packaging, Tagline/slogan, Colour palette, Audio ….intended to identify the goods and services of one seller (group of sellers) and to differentiate them from those of the competition. Brand Associations: The unique set of associations that a person (group of people) has with a company, product, service, individual or organisation…Associations = Marketing Mix + Experience    
  • -15.1 Importance of Brands To Consumers? A signal of quality (info that simplifies DMP) Psychological & Social benefits (Satisfaction with ownership; status, group acceptance) Self-Expression (signal to self; signal to others) Powerful markers to express personalities, status, lifestyles, social class, ideologies and a variety of other social identities. BUT: The more informed consumers become, the lower the effect of brands.  increase in private label purchasing with increasing number of correctly identified headache remedy ingredients  To Firms? Can charge a price premium Greater loyalty – less vulnerable to competitive marketing actions Power in the channel Raise BTE HR   A platform for launching new products A basis for cross-selling 
  • -15.2 Customer Based Brand Equity The differential effect that brand knowledge has on consumer response to the marketing of the product or service. Set of assets linked to a brand’s name that adds to or subtracts from the value of that product or service. Brand Awareness: Familiarity is the simplest form of brand equity Perceived Quality: Point of differentiation & positioning Brand associations: Emotional associations to form Brand Personality Brand loyalty: Strongest form of brand equity: WOM, Repeat Buying Other: patents, trademarks
  • -15.2. The Brand Resonance Pyramide - Kevin Lane Keller BRAND IDENTITY The unique set of brand associations that the firm aspires to create or maintain.Represents what the brand stands for and implies a promise to customers {Deep, Broad Brand Awareness} Salience: Category Identification, Needs Satisfied BRAND MEANING {Points of Parity and Difference} Performance Primary Characteristics and Secondary Features Product Reliability & Durability Price Design Customer Service (Effectiveness, Efficiency, Empathy) Imagery User Profiles Purchase and Usage Situations Personality and Values History, Heritage and Experience BRAND IMAGE: The unique set of brand associations in the consumer memort -> Consumers’ perceptions about a brand BRAND RESPONSE Subjective opinions, evaluations and emotional responses {Accessible, Positive Reaction} Judgement Quality Superiority Credibility Consideration  Feeling Warmth, Fun, Excitement Security Social Approval Self-Respect BRAND RELATIONSHIPS {Intente, active Loyalty} Loyalty Attachment Community Engagement
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