Product and brand management

Session 2 Joel Cyclo Xavier

The Brand
History birth by fire The brand is a friend
The story of a friendship betrayed

Some things about brands

Familiarity leads to liking Declining brands tend to lose buyers while the brands loyalty and purchase rates stay stable among remaining buyers In most product categories, price is the primary purchase incentive for not more than 15 to 35 % of all customers

What is a brand
A singular idea or concept that you own inside the mind of the customer Other definitions. It is a name or symbol
Source of a relationship with the consumer Source of a promise to the consumer Unique source Blah blah..

Brands
What is a brand? Vs.
Who is a brand? Give it an identity

A brand is something/someone that resides..

In the mind of the consumers.

Give it a life
Give it meaning beyond just product benefits

Brand essence
2 or 3 words Less is more Hallmark caring shared Nike genuine athletic performance Bose
Better sound through research

Starbucks
Rewarding everyday moments

Bajaj
Inspiring confidence

Brand promise
What is it?
Name [who?] Benefit [What ?] Product or service category [where?]

Only [Brandname] provides [benefit] in [product or service category] Corporate:

[Brandname] is the [trusted/quality/innovative] leader in [benefit] in [product/service category]

Functions of brand promise

Address important consumer needs Leverage organisations strengths Give competitive edge through differentiation Inspire , energize and mobilise your people Driev all decisions, systems, actions and processes Manifest itself in your organisations products and services

Brand positioning
Place in brain/mind where brand resides

Brand personality
How do you describe personality?
Adjectives?

Brand as a person Brand associations

Relationships Connections Things Emotions concepts

Brand equity
Commercial value of all associations and expectations Economic value of brand asset Price premium Consumer loyalty and goodwill Ability to shift demand curve

Brand image
Totality of presentation elements
Visual Auditory- sounds, jingles, menemonics Names and logos, symbols, Shapes/colours Textures Fragrances/scents Other sensory components

Brand architecture
Purpose
Number of separately named entities Criteria to be separate Levels of relationships beween separately named entities Naming and other brand identity conventions for each level Nature of relatinships between named entities at various levels

Trade dress
Packaging? Identity of the brand in the market Legal protection trade marks

Brand portfolio
Mix of brands owned by a company

 Corporate brand :Brand bearing company name

Always the highest in the hierarchy

Master brand:
Dominant highest level brand in a brand hierarchy

Parent brand:
Brand that is extended into more than one product category

 Sub brand:
a brand with its own name that uses the name of its parent brand in some capacity to bolster equity Endorsers
Bajaj pulsar

Co-drivers
Kawasaki bajaj caliber

Descriptors
LG sampoorna Hair n care silk n- shine

 Brand extension:
Existing brand in new product category