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FinalsessionByKAnandhiCII-IL,BrandManagement,Brand,Aname,term,symbol,design,orcombinationthereofthatidentifiesasellersproductsanddifferentiatesthemfromcompetitorsproducts.,AnEffectiveBrandName,IseasytopronounceIseasytorecognizeandrememberIsshort,distinctive,anduniqueDescribestheproduct,use,andbenefitsHasapositiveconnotationReinforcestheproductimageIslegallyprotectable,Branding,BenefitsofBranding,Powerfulasset/toolinestablishingcompetitiveadvantage-translatesintobrandequity(thevalueofthecompanyandbrandnames)Productidentification!ConsumersfamiliarwithbrandOftenequatestoqualityGlobalbrand=20%ofproductsoldoutsidehomecountryActsasanambassador,AdvantagesofBranding,ConsumersviewpointProductqualityandconsistencyIncreasedshopperefficiency/identificationCallsattentiontonewproductsReducespsychologicalriskSellersviewpointHandlingorders,trackingdownproblemsTrademarklegalprotectionanduniqueproductfeature.BrandequityandbrandloyaltyReducesneedforin-storecontactFacilitatessegmentation,promotion,andpricing,TheWorldsMostValuableBrands,BrandStrategyLineExtensionsBrandExtensionsMultibrandsNewBrands,BrandSponsorManufacturersBrandPrivateBrandLicensedBrandCo-branding,BrandNameSelectionSelectionProtection,MajorBrandingDecisions,BrandingStrategies,Brand,NoBrand,ManufacturersBrand,PrivateBrand,IndividualBrand,FamilyBrand,Combi-nation,IndividualBrand,FamilyBrand,Combi-nation,GenericBrand,Ano-frills,no-brand-name,low-costproductthatissimplyidentifiedbyitsproductcategory.,ManufacturersBrandsVersusPrivateBrands,IndividualBrandsVersusFamilyBrands,FourBrandStrategies,LineExtension,Developmentofaproductthatiscloselyrelatedtooneormoreproductsintheexistingproductlinebutdesignedspeciallytomeetthesomewhatdifferentneedsofcustomers.,Brandextension,Extendingthebrandtoanotherformofsameproduct.(e.g.Toothpaste)ProductLineextensionse.g.SaffolaOil.ReachingnewcategoriesFairnesscreamstosoap.EasyflowofsoapsinthemarketTwoTypes:Upwardbrandextensions(uppermarketsegment)Downwardbrandextensions(lowermarketsegment).Ex.Nirma,BrandRejuvenation,Processofrevitalizinganailingbrand.E.g.Cadburys,HorlicksThreestepsinvolved1.Discovery:processofidentifyingthecompanyandwhattheymeantothecustomers2.Innovation:shortcomingareremovedandtestedonloyalcustomersandwholesalers.3.expression:projectpositiveimageofthebrandinthecustomersminds.ProductRelaunch:Productlaunchedafteratimegap.,BrandProliferation,Itisanintroductionofproductwithnewbrandnamesinthesameproductcategory.Itisconverseofbrandextension.Ithelpstoincreasethemarketshareoftheproduct.Eg.HULwithdifferentbrandofsametypeofproducts.Disadvantage:CompanysbrandscompetewitheachotherCompanyhastodividetheresourcesamongthesebrandsfortheirmaintenance.Thecostofdistribution,advertising,packagingandinventorycostsalsogoupsignificantly.,Multibrands,Firmsadoptmultiplebrandingstrategiestocaptureagreatermarketsharebyfillingthegapsinthemarketandcateringdifferentbuyingpatternofthecustomers.Ex:nokiacellphone,BikeDisadvantageWiththemulti-brandingstrategyisthatthecompanymayobtainasmallermarketshareofallthebrands.,Cobranding,OnLine,AOL,OnLine,Cobranding,TwoormorebrandnamesontheproductoritspackageIngredientbrandingi.e.,HeroHondarecommendingMRFtyresCooperativebrandingAirline/hotel/creditcardpackagesBorrowoneachothersbrandequityComplementarybrandingAdvertisedormarketedtogethertosuggestusageCococolarecommendingkinleymineralwater.,BrandManagement,Brandequity:Thegoodwill(equity)thatanestablishedbrandhasbuiltupoveritsexistence.“DREK”-differentiation,relevance(strength)-esteem,knowledge(stature)Brandconcept:specificmeaningthatbrandmanagerscreateandcommunicatetothetargetmarket.Brandconceptmanagement:theanalysis,planning,implementation,andcontrolofabrandconceptthroughoutthelifeofthebrand.Semiotics:ScienceofsignsE.gHULtestingPowerBrands(30),Packaging,Packaging,Activityofdesigningandproducingthecontainerorwrapperforaproduct.Packagingusedtojustcontainandprotecttheproduct.Packingnowhaspromotionalvalueandmarketersshould:Establishapackagingconcept,Developspecificelementsofthepackage,Tietogetherelementstosupportthepositioningandmarketingstrategy.VIEWModel,Packaging,Notjustthecontainerpartoftheon-goingpromotion/advertising#1jobisstillcontainment/protectionofproduct#2PromotetheproductWaytodifferentiatefromcompetitorsInformthecustomer(ingredients,size,etc.)Colorstocuecustomers(green=healthy)#3Faciliatestorage,useandconvenienceAlsowaytosegmentmarket(sugarinbigcrummybagvs.carton=typeofuser,singleservings,kidfriendly/safe)#4Facilitaterecyclingandreducingenvironmentaldamage,Labeling,Printedinformationappearingonorwiththepackage(e.g.,NutritionFactsPanel)Performsseveralfunctions:IdentifiesproductorbrandDescribesseveralthingsabouttheproductPromotestheproductthroughattractivegraphics.,Labeling,PackagingandLabeling,Persuasive:promotionalfirst,andcustomerinformationissecondaryUsealogoortheme“New”,“improved”dontdoasmuchforconsumerInformationallabeling:Helpconsumermake“right”choiceandlessenpossiblecognitivedissonancei.e.,nutritionlabels,careinformation,constructionstandards,etc.,UniversalProductCodes,Aseriesofthickandthinverticallines(barcodes),readablebycomputerizedopticalscanners,thatrepresentnumbersusedtotrackproducts.,UPCs,Anydoubts?,
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