Brand Management Abhishek Pratap, Published by - Jharkhand Rai University Subject: BRAND MANAGEMENT Credits: 4 SYLLABUS Branding Concepts Introduction to Brand; Brand and Branding Basics; Relationship of Brands with Customers; Building Successful Brands. Terms associated with Brands Understanding Various Terms; Brand Names and Brand Extensions; Co-Banding and Corporate Branding; Brand Associations and Brand Image. Management of Brand Brand Loyalty; Brand Relationship; Brand Equity; Brand Management Brand Processing Brand Evolution; Value of Brand; Brand Planning and Brand Potential. Brand Selection Brand and Consumer Buying Process; Consumer Search for Brand Information; Issues associated with Effective Brand Name; Added Values Beyond Functionalism; Brand Personality; Branding to make Tangible the Intangible. Suggested Reading: 1. Branding Concepts and Process by Pati D, Publisher: Macmillan 2. Creating Powerful Brands by McDonald Malcolm and De Chernatony L, Publisher: Amazon.Co.UK 3. Brand Positioning by Subroto Sen Gupta, Publisher: Tata McGraw-Hill 4. Product Management in India by R. C. Majumdar, Publisher: Prentice-hall of India Pvt Ltd. 5. Managing Indian Brands by S R Kumar, Publisher: Wharton School Publishing BRAND MANAGMENT COURSE OVERVIEW A good brand is priceless to any business, and with this course · identify the responsibilities of a brand manager. in Brand Management you will learn exactly how to market, · evaluate brands to identify the components of brand equity. · use Porter’s Method of Competitive Strategy to implement a manage, develop and integrate a brand in both the marketplace marketing strategy for a brand in a given scenario. and over the Internet. · identify appropriate steps for evaluating brands in a given There are three ingredients every company needs for branding scenario. success: a brand manager, a brand, and the consumer. But how · recognize the benefits of having an effective brand. do these ingredients relate and what are they comprised of that · identify examples of business properties that can be branded. makes them so important? This course will demonstrate how · determine the appropriate strategy for a product within the each ingredient reacts to the other in order to create a valuable, brand hierarchy in a given scenario. long-lasting brand. First, you will learn about the responsibili- · evaluate the effectiveness of the creative elements in brands. ties of a brand manager, from conception of a brand to · identify a strategy to negotiate trends in the marketplace. building, evaluating, and maintaining brand equity. Then, you · recognize the benefits of knowing your consumers. will be introduced to a brief history of branding and its · analyze a question used in consumer research to determine intended purpose. This also includes the elements of a great which method was used. · identify examples of sales promotional tools. brand, and current trends in branding. Finally, you will recognize · analyze a brand to determine where the consumer adoption the components and intricacies that make up your consumer, process failed. how to appeal to the consumer, and one of the most impor- tant facts of all: how the consumer dictates your brand equity. By the end of this course, you will apply all of these ingredients and assemble a recipe of your own as a foundation for effective management of your brand. This course is an overview for future managers, brand managers and marketing personnel who wish to conceive, build, improve and maintain a successful brand identity for their products and company. This will help them to interpret the potential affects of various brand strategies and tactics and assess the value of any type of brand. · recognize the benefits of utilizing a brand manager. i BRAND MANAGMENT BRAND MANAGMENT CONTENTS . Lesson No. Topic Page No. Lesson 1 Introduction to Brand 1 Lesson 2 Brands and Branding Basics 6 Lesson 3 The nature of relationship of brand with customers 13 Lesson 4 Building Successful Brands 21 Lesson 5 Understanding various Terms 29 Lesson 6 Brand Names and Brand Extensions 35 Lesson 7 Co-Branding and Corporate Branding 43 Lesson 8 Brand Associations and Brand Image 48 Lesson 9 Brand Loyalty 55 Lesson 10 Brand Relationship 63 Lesson 11 Brand Equity 68 Lesson 12 Brand Management Process 75 Lesson 13 Brand Evolution 83 Lesson 14 Value of brands 90 Lesson 15 Brand Planning and Brand Potential 94 Lesson 16 Brands and consumer buying process 101 Lesson 17 Consumer search for Brand Information 108 Lesson 18 Issues associated with effective brand names and 114 Lesson 19 Added values beyond functionalism 122 Lesson 20 Brand Personality 131 Lesson 21 Branding to make tangible the intangible 137 vi BRAND MANAGMENT BRAND MANAGMENT CONTENTS . Chapter No. Topic Page No. Lesson 22 Response of Weak and strong manufacturers 144 Lesson 23 Brand Positioning Strategies 152 Lesson 24 Consumer Segmentation 157 Lesson 25 Brand Architecture and Brand Portfolio 162 Lesson 26 Perceptual Mapping 168 Lesson 27 Brand Benefits and Attributes 175 Lesson 28 Advertising and Branding 181 Lesson 29 Successful Repositioning 187 Lesson 30 Differential Advantage and Positioning 194 Lesson 31 Brand as strategic devices 202 Lesson 32 Brand Evaluation and Planning 210 Lesson 33 Protecting Brands through Trademarks 221 Lesson 34 Legal Perspectives in Branding 232 Lesson 35 Online Branding 236 Lesson 36 Business to Business Branding 247 Lesson 37 Live Industry Projects 251 vii UNIT I FOUNDATION OF BRAND MANAGEMENT LESSON 1: UNIT 1 CHAPTER 1 INTRODUCTION TO BRAND BRANDING CONCEPTS Objectives Step One BRAND MANAGMENT The learning objective: after this lecture you should be able to Read about successful brand management. This course understand: provides you with illustrations and anecdotes from the world of brand management. You’ll see what worked for other a. Why studying Brand management is important for companies and find ideas that you can apply to your own marketing managers. brand. b. Various terms related to Brand in terms of Glossary are Step Two given in this lesson, which will help you in understanding Learn the principles and practices. Subscribe to our ‘Shared the course better. Learning’ newsletter and learn the principles and practices of It has never been clearer that in this shrinking world, countries successful brand management - you’ll be another step closer to and regions and cities have to compete with each other – for unlocking the potential of your brand. tourism, for inward investment, for aid, for membership of the supranational groups, for buyers of their products and services, Step Three for talent. So there’s hardly a place left that isn’t thinking hard Apply proven tools and techniques. This brand Manual about its brand image, and most are in need of clear, realistic provides proven tools and techniques - and a complete brand strategies for communicating and promoting themselves, their management process - to help you unlock the value of your culture, their exports, their acts of policy and their contribution most important asset, your brand. to the global community. Glossary of Terms Which consultants or agencies will ultimately lead the field in A. Awareness The percentage of population or target market managing and promoting these hugely complex and often who are aware of the existence of a given brand or contradictory megabrands? Is promoting a country more about company. There are two types of awareness: spontaneous, policy, management consultancy, public relations, marketing, which measures the percentage of people who CRM, advertising or brand strategy? Or is it a combination of spontaneously mention a particular brand when asked to everything that working with companies has taught us in the name brands in a certain category; and prompted, which last fifty years? measures the percentage of people who recognise a brand Guest-Editor Simon Anholt - one of the leading international from a particular category when shown a list. marketing thinkers, and according to The Economist “one of B. Brand A brand is a mixture of attributes, tangible and the world’s leading consultants to corporations and govern- intangible, symbolised in a trademark, which, if managed ments who wish to build global brands” - has united the properly, creates value and influence. leading academics and practitioners in this critical but still largely “Value” has different interpretations: from a marketing or unexplored field to bring together the best and latest thinking consumer perspective it is “the promise and delivery of an on place marketing. experience”; from a business perspective it is “the security A strong brand is the most valuable asset of many successful of future earnings”; from a legal perspective it is “a companies. Brands are assets because, when properly managed, separable piece of intellectual property.” Brands offer they provide a secure stream of income for the business. But customers a means to choose and enable recognition within what about your own brand, is it delivering its full value? cluttered markets. This course provides resources to help you successfully Brand Architecture How an organization structures and manage your brand names the brands within its portfolio. There are three main As you work to unlock the potential of your own brand you are types of brand architecture system: monolithic, where the facing a wide range of brand management issues. You are corporate name is used on all products and services offered probably asking questions such as: by the company; endorsed, where all sub-brands are linked to the corporate brand by means of either a verbal or visual What are We Trying to Achieve? endorsement; and freestanding, where the corporate brand · Who should be involved? operates merely as a holding company, and each product or · How do we manage this? service is individually branded for its target market. · What are the tools and techniques to use? Brand Associations The feelings, beliefs and knowledge · How do we know we’re making progress? that consumers (customers) have about brands. These associations are derived as a result of experiences and must There are three steps to the answers be consistent with the brand positioning and the basis of differentiation.