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Brand Identity - 3.pptx

  1. International Brand Management – 3
  2. Brand Identity • Brand identity stems from an organization, i.e., an organization is responsible for creating a distinguished product with unique characteristics. It is how an organization seeks to identify itself • It represents how an organization wants to be perceived in the market. An organization communicates its identity to the consumers through its branding and marketing strategies. • A brand is unique due to its identity. Brand identity includes following elements - Brand vision, brand culture, positioning, personality, relationships, and presentations • Brand identity is a bundle of associations with the brand. These associations can include signature tune(for example - Britannia “ting-ting-ta-ding”), trademark colours (for example - Blue colour with Pepsi), logo (for example - Nike), tagline (for example - Apple’s tagline is “Think different”),etc. Brand identity is the total proposal/promise that an organization makes to consumers • Brand identity is the noticeable elements of a brand (for instance - Trademark colour, logo, name, symbol) that identify and differentiates a brand in target audience mind. It is a crucial means to grow your company’s brand. It is the aggregation of what all you (i.e. an organization) do. It is an organizations mission, personality, promise to the consumers and competitive advantages. It assures the customers again that you are who you say you are
  3. Sources of Brand Identity • Symbols Symbols help customers memorize organization’s products and services. They help us correlate positive attributes that bring us closer and make it convenient for us to purchase those products and services. Symbols are easier to memorize than the brand names as they are visual images. These can include logos, people, geometric shapes, cartoon images, anything. Brand symbols are strong means to attract attention and enhance brand personalities by making customers like them. It is feasible to learn the relationship between symbol and brand if the symbol is reflective/representative of the brand.
  4. Sources of Brand Identity • Logos A logo is a graphic mark, symbol or stylized name used to identify a company, organization, product, or brand. Logos have become an integral part of a company's brand identities. A widely and instantly recognized logo is a valuable intangible asset for a corporation and is thus trademarked for intellectual property protection, in the majority of situations. Elements of Logo:  Logotype - It can be a simple or expanded name. Examples of logotypes including only the name such as Kellogg’s  Icon - It is a name or visual symbol that communicates a market position. For example-LIC ’hands’  Slogan - It is best way of conveying company’s message to the consumers. For instance- Nike’s slogan “Just Do It”.
  5. Sources of Brand Identity • Trademark A trademark protects a slogan, phrase, word, company name, logo, or design that identifies a company and/or its goods. A logo is a symbol or design used by a company that may fall under trademark protection laws. Many businesses choose to apply for trademark protection on their logos. When approved, a trademark restricts others from using an exact or similar mark.
  6. Building Brand Identity The steps a company should take to build a strong, cohesive, and consistent brand identity will vary, but a few points apply broadly to most: • Analyse the company and the market: A full SWOT analysis that includes the entire firm—a look at the company's strengths, weaknesses, opportunities, and threats—is a proven way to help managers understand their situation so they can better determine their goals and the steps required to achieve them • Determine key business goals: The brand identity should help fulfill these goals. For example, if an automaker is pursuing a niche luxury market, its ads should be crafted to appeal to that market. They should appear on channels and sites where potential customers are likely to see them • Identify its customers: Conducting surveys, holding one-on-one interviews, etc can help a company identify its consumer group • Determine the personality and message it wants to communicate A company needs to create a consistent perception, rather than trying to combine every conceivable positive trait: utility, affordability, quality, nostalgia, modernity, luxury, taste, and class. All elements of a brand, such as copy, imagery, cultural allusions, and colour schemes, should align and deliver a coherent message
  7. Brand Image • Brand image is the current view of the customers about a brand. It can be defined as a unique bundle of associations within the minds of target customers. It signifies what the brand presently stands for. It is a set of beliefs held about a specific brand. In short, it is nothing but the consumers’ perception about the product. It is the manner in which a specific brand is positioned in the market • For Example: McDonald’s has an image of an inexpensive brand that serves the food very quickly How Brand Image is Different from Brand Identity!!
  8. Brand Identity vs Brand Image
  9. Brand Personality Brand personality is the way a brand speaks and behaves. It means assigning human personality traits/characteristics to a brand so as to achieve differentiation. These characteristics signify brand behaviour through both individuals representing the brand (i.e. it’s employees) as well as through advertising, packaging, etc. When brand image or brand identity is expressed in terms of human traits, it is called brand personality. The “Big Five” personality traits, the five dimensions of brand personality are sincerity, excitement, competence, sophistication, and ruggedness. While every brand lies somewhere on the spectrum for each one of these attributes, the most enduring brands largely emphasize just one primary trait and optionally one secondary trait. You can’t be everything to everybody, and thus you can’t have every personality. You have to choose your direction clearly and intentionally. Let’s evaluate each one of these dimensions and review some example brands in each bucket.
  10. Brand Personality • Sincerity: Every business wants to be sincere, but brands with sincerity as their primary attribute are those that are honest, genuine, cheerful, wholesome, and down-to-earth. Sincerity is an attribute you’ll see associated with many food, hospitality, and safety brands. Some favourite examples of sincere brands are: Hallmark, Pampers, Coca-Cola, etc. • Excitement: Exciting brands are often those that appeal to a younger demographic, with energetic advertising, high-octane design, and celebrity endorsements. These brands are daring, spirited, imaginative, cool, unique, contemporary, and anti-establishment. Lots of brands across nearly every category can fall under the umbrella of excitement, including: Nike, MTV, Tik Tok, etc.
  11. Brand Personality • Competence: We’ve never done a branding project where the client didn’t object the first time they saw the word “competence” to claim that they were, of course, competent. And we don’t deny that the clients we’ve worked with are qualified leaders in their field, but that is not what we mean when discussing the brand personality trait of competency. Here we mean brands whose ethos is reliability, responsibility, trustworthiness, intelligence, successfulness, and confidence. You will often see brands that deal with “important stuff” in the competence column, including banks, insurance companies, logistics firms, and medical brands. Some examples are: UPS, Volvo, and Microsoft, etc • Sophistication: Like competence before it, we often hear that the brands we work with are all sophisticated and complex – but again that is not definition at work here. Sophistication as a brand personality means luxurious, glamorous, upper class, and charming. And like excitement earlier, you will also frequently see sophistication cut across categories, though generally at the northern end of the price range. Sophisticated brands include: American Express, Apple, Mercedes, etc
  12. Brand Personality • Ruggedness: Rugged brands are those built to last, the tough and outdoorsy types that will “take a licking and keep on ticking.” These brands are hard-working, authentic, strong, muscular, and high- quality. You may see a lot of rugged brands in the verticals of construction and hardware, outdoors and sporting, and automotive. Some example brands include: Land Rover, Levis, etc
  13. What Makes Brand Personality Successful? While the personalities themselves can widly vary from company to company, the actual goals of brand personality remain consistent for everyone. Looking at branding as a whole, you want your brand personality to satisfy the following areas: • Authenticity: Your brand personality should always reflect your business goals and company culture. A law firm of old stiff lawyers could not pull off a young and rebellious brand personality • Memorability: Especially important for new brands, you need to stand out to be remembered. A funny visual, play on words, or extraordinary gesture can turn an unknown start up into a household name • Value: The “substance” of your business: what value do you provide for customers that they can’t get elsewhere? A product type, quality, price or even way to identify themselves? • Trustability: Every pizza place in New York claims to be the best, but only one of them can be telling the truth. Just like a real person, if your brand lies about who it is people will stop listening • Authority: Customers expect the brands they do business with to be experts in their field. A brand personality that confidently owns who they are will attract more business.
  14. Brand Personality vs Brand Identity • Your brand personality is the human characteristics of your brand—a happy brand, an energetic brand, a no-nonsense brand. Your brand identity, on the other hand, is the manifestation of your brand personality, like your logo, your colour scheme or the tone of voice you use in your blog. If you understand programming, you can think of brand personality as the back end, the behind-the-scenes stuff, and brand identity as the front end, what the user sees • For example: After an initial look at the logo, this brand comes across as casual, friendly and approachable—the brand personality. We draw this conclusion from what we see, the imagery of a cute panda bear, and the bright yellow to signify warmth and happiness, the brand identity
  15. How to Develop the Brand Personality? As we discussed, while the goals of brand personality may be the same for everyone, the approaches should be moulded by your unique business. In other words, the destination is the same, but how you get there depends on you. Below are the three tips to help you create the best brand personality design for you: • Cater to your target customers: The top priority in your brand personality is meeting your target customer’s preferences, even more important than your own preferences. Ideally you already have a firm grasp on who your customers are and what they want, but regardless gathering quantitative customer data can reveal insights you never would have guessed on your own. • Make a list of adjectives to describe your ideal brand personality: This is a quick exercise designed for first-timers in branding to help get the creative juices flowing. If you’re having trouble deciding on your traits, make a list of adjectives describing your perfect brand personality. Listing words like “youthful,” “energetic” and “passionate,” can help you hone in on the greater personality, and words like “inexpensive,” “convenient” and “user-friendly” can help you solidify your value and carve out a place in your market. Just remember to keep your target customers in mind, specifically their preferences and expectations. The words on this list should appeal to them more than you.
  16. How to Develop the Brand Personality? • If your Brand were a Person: This is a bit on the nose, but it helps to visualize your brand as a living, breathing human to create a brand persona. If you can’t decide what direction to take your brand personality, try to imagine that your ideal brand is a real person and you’re meeting them at a party for the first time. Ask yourself these questions:  How does your brand greet you? Do they give you an enthusiastic, “Hi, how are you?” or a nonchalant “ ‘sup”? Do they shake your hand formally or go straight in for a hug?  How does your brand act? Does your brand get straight to the point? Do they like to crack jokes? This can help you understand your brand voice.  What does your brand talk about? What topics interest your brand? Do they stick to socially-acceptable conversations or do they push limits? Do they spend their time teaching or listening?  What does your brand wear? Are they dressed for appearances or comfort? How many accessories do they have? What colours do they have? Of course these questions don’t answer everything you’ll need for your brand personality, but once you have a solid idea of who your brand is, the rest of the details follow. Use them as a starting point and continue to build on them until you have outlined a complete, comprehensive brand personality for your business.
  17. Brand Relaunch A brand relaunch is the repositioning of your brand within the marketplace. It often begins with an evaluation of an organization’s goals, brand essence, and market positioning. Typically, a brand relaunch impacts many of the elements in your brand identity kit including visual style, logos, colour profiles, and more. A relaunch can vary to include a full redesign, strategic updates, or a simple refresh. Tips for a successful brand relaunch: • Define the Why Before making any public-facing changes, you must first understand why you're doing a relaunch. Common catalysts for a relaunch include mergers, acquisitions, outdated branding, or company expansion. But the why is more about what you’re trying to achieve. Think gaining a stronger foothold in your market, differentiating your brand from the competition, or successfully launching a new product. Understanding the why will make it easier to measure and celebrate your achievement because you’ll know what success looks like.
  18. Brand Relaunch • Understand the full picture: While internally you view your brand one way, it might not have the same perception externally. When gathering the full picture, tap your entire audience including current employees, potential employees, customers, future customers, and anyone who comes in contact with your brand. Take time to understand multiple perspectives. Conduct internal and external interviews. Do competitive research. Use surveys. And understand the potential future of your market space. Determining how your brand is currently perceived can help further define the goals of your brand relaunch. This gives you evidence to refer to during the planning process, making it easier to compare where you are with where you want to be. • Obtain buy-in from internal stakeholders Buy-in from company leaders is critical. The scope of a brand relaunch can creep quickly and you’ll need internal teams in your corner when they do. Effectively communicating the reasons for a brand relaunch and the outcomes will go far in getting everyone on board. Doing so will allow you to preserve the time, resources, and talent needed to execute a successful relaunch. And keeping everyone in the loop throughout the process will encourage excitement while managing expectations.
  19. Brand Relaunch • Get Emotional Many elements of your brand aren’t tangible. They’re felt. The more your audience connects with your brand, the better. Emotions drive purchasing decisions. They foster relationships. And ultimately, emotional investment builds brand loyalty. A brand relaunch should take this into consideration during the planning phases. Consider testing different versions and iterations of your brand prototypes before finalizing your decision. A relaunch is a perfect opportunity to increase the emotional connection with your brand • Phased rollout or flip of the switch? Depending on the size of your relaunch, you’ll need to consider how to release it into the world with a brand rollout plan. A phased rollout means that you’ll be able to release your new creations into the world faster, but you’ll also be faced with two brands for the duration of your project. However, releasing the new brand all at once might require duplicate work as the new brand is built and the old one is maintained. This could be a struggle depending on your resources. So make sure to weigh the pros and cons of all rollout approaches and pick the one that works best for you. Don’t forget to communicate the plan as well so that people know what to expect
  20. Brand Relaunch • Be Realistic about Timing A rebranding signifies things are changing in your organization. And change takes time. So you need to dedicate the time and resources to do it well in order for your audience to take notice. A full brand relaunch — including visual expression, value messaging, and more — is easily a yearlong engagement, or longer. Underestimating the lead time for a project this size will often cause frustration, missed opportunities, and poor-quality results. Being upfront and realistic with your stakeholders and mapping your project out by phases will keep things running smoothly and ensure a successful end result.
  21. Brand Relaunch Maggi Example: Someway Maggi has been etched to the hearts of every 90’s kid and has always been a family- centric campaign. After the Maggi ban, it’s a comeback as the nostalgic campaign is one of the strongest marketing campaigns as the brand reached the top as quickly as it could be.
  22. How to Relaunch a Brand
  23. Brand Extension A brand extension is when a company uses one of its established brand names on a new product or new product category. It's sometimes known as brand stretching. The strategy behind a brand extension is to use the company's already established brand equity to help it launch its newest product. The company relies on the brand loyalty of its current customers, which it hopes will make them more receptive to new offerings from the same brand. If successful, a brand extension can help a company reach new demographics, expand its customer base, increase sales, and boost overall profit margins. A brand extension leverages the reputation, popularity, and brand loyalty associated with a well- known product to launch a new product. To be successful, there must be a logical association between the original product and the new item. A weak or non-existent association can result in the opposite effect, brand dilution. This can even harm the parent brand. Successful brand extensions allow companies to diversify their offerings and increase market share. They can give the company a competitive advantage over its rivals that don't offer similar products. The existing brand serves as an effective and inexpensive marketing tool for the new product.
  24. Brand Extension: Matrix of Brand Growth
  25. Brand Extension: Matrix of Brand Growth
  26. Brand Extension Examples Apple (AAPL) is an example of a company that has a history of effectively using a brand extension strategy to propel growth. Starting with its popular Mac computers, the company has leveraged its brand to sell products in new categories, as can be seen with the iPod, the iPad, and the iPhone. Google's core business is a search engine, but it has an assortment of other non-advertising related products and services including the Play Store, Chromebooks, Google Apps, and the Google Cloud Platform.
  27. Criticism of Brand Extension The cost of introducing a product through brand extension is lower than the cost of introducing a new product that has no brand identity. The original brand communicates the message. However, brand extensions fail when the product lines are a distinct mismatch. The brand name may even cast a disagreeable light on the new product. Before launching a new product, brand managers need to keep their target audience in mind and consider which products fit well under their company's brand. An example of an unsuccessful brand extension occurred in the early 1980s when popular jeans manufacturer Levi Strauss & Co. decided to launch a line of men's three-piece suits under the sub-brand Levi's Tailored Classics. After years of poor sales, the company discontinued the line. The company couldn't overcome consumers' perception of the brand as one associated with rugged casual wear and not business attire. However, Levi's learned from its mistake and in 1986 introduced Levi's Dockers, a line of casual khaki pants and other men's apparel that has since been a consistent top seller for the company
  28. Pros & Cons of Brand Extension
  29. Brand Portfolio The Brand Portfolio refers to an umbrella under which all the brands or brand lines of a particular firm functions to serve the needs of different market segments. In simple words, brand portfolio encompasses all the brands offered by a single firm for sale to cater the needs of different groups of people. Brand portfolio is generally created because each brand has certain boundary beyond which it cannot fulfil all the needs of different market segments. The advantage of having the Brand Portfolio is that management can keep a check on all the brands as a whole and frame the policies with a broader perspective. Also, the resources can be allocated to the brand that needs the most.
  30. Brand Portfolio The brands in the Brand Portfolio play the following different roles: • Flanker Brand: A Flanker Brand also known as a Fighter Brand is a new product launched in a market by the company in the same category wherein an established brand is already positioned. This is primarily done for the increased market share as well as to cater to the need of all the segments of customers. e.g. Armani’s (an Italian luxury fashion house) brand portfolio is one of the best examples to explain the concept of a flanker brand. In it, the brands are distinguished on the basis of price and customer segment
  31. Brand Portfolio The brands in the Brand Portfolio play the following different roles: • Cash Cow Brand: A cash cow brand is that product in the brand portfolio that has reached the maturity level in the product life cycle but is able to bring in profits necessary for its survival. These brands are not removed from the market because necessary cash is flowing in through its sale which is better than incurring heavy cost on the launch of a new product.E.g. The best example of cash cow brand is Gillette Company that is keeping the old brands viz. Gillette Atra, Gillette sensor and Gillette Trac II in its brand portfolio despite new razor technology such as Mach III turbo and Gillette Fusion.
  32. Brand Portfolio The brands in the Brand Portfolio play the following different roles: • Low-End Entry Level Brand: A low Entry Brand in a brand portfolio includes the product which is offered at less price. The low priced product is added to the portfolio to ensure the purchase at least once and bring the customer into the brand family.Once the customer becomes a part of the family, he is then persuaded for the purchase of the higher-priced product in near future.E.g. Hero MotoCorp explains this concept very accurately wherein low priced bikes viz. CD Dawn, CD Deluxe are added in the brand portfolio to gain the customer base along with the high priced bikes such as Karizma, Ignitor, Impulse, Achiever, etc.
  33. Brand Portfolio The brands in the Brand Portfolio play the following different roles: • High-End Prestige Brand: A High-End Prestige Brand in the brand portfolio is the product offered at a high price with the intention of creating a sense of prestige in the minds of customers. Other brands in the portfolio also get the recognition because of the premium brand and its quality do have a halo effect on each product line. E.g. Tata is the best example to elucidate high-end prestige branding. Thus, a firm tries to have all the different brands operating independently under its periphery to protect the sources of equity by not letting customers move away due to the unavailability of their desired product.
  34. Enhancing Brand Image through Sponsorship & Event Management Sponsorship: Advertising that seeks to establish a deeper association and integration between an advertiser and a publisher, often involving coordinated beyond-the-banner placements. Sponsorship is the financial or in-kind support of an activity, used primarily to reach specified business goals. Sponsorship should not be confused with advertising. Advertising is considered a quantitative medium, whereas sponsorship is considered a qualitative medium. It promotes a company in association with the sponsee. Why Sponsor? • Enhancing Image/Shaping Consumer Attitudes: Often companies are looking to improve how they are perceived by their target audience. Sponsoring events that appeal to their market are likely to shape buying attitudes and help generate a positive reaction. Coca Cola, for example is always looking to generate a positive influence of their products in the minds of their consumers and as such regularly support events they feel can influence consumer opinions. When we think of Coca Cola, we don’t think of it as simply a sugary water drink, the brand is built on marketing and a lot of this has been achieved through sponsoring events which excite and therefore creates and builds the brand.
  35. Enhancing Brand Image through Sponsorship & Event Management Why Sponsor? • Driving Sales: Sponsorship geared to driving sales can be an extremely potent promotional tool. This objective allows sponsors to showcase their product attributes. Food and beverage companies often use sponsorship to encourage samplings and sales. Visa’s fund-raising effort around its sponsorship of the Olympic Games and the U.S. Olympic Team. They promoted their association by offering to make a donation to the team each time consumers charge a purchase to their card. American Express used a similar strategy by donating to needy causes with their “Charge Against Hunger” campaign. As a result, both companies experienced a significant rise in sales volume. • Creating positive publicity/heightening visibility: Every sponsor is seeking wide exposure in both electronic and print media. Positive publicity helps create heightened visibility of products/services. Various media covering the event may include sponsors names and/or photos. In addition, the kind of media coverage a sponsor may get is often unaffordable if the company were to think of purchasing it, and if it were available. To maximize this objective, it is important for the sponsoring company to have a comprehensive media campaign to augment the regular media coverage promoted by the organizers. Sponsorship can often generate media coverage that might otherwise not have been available.
  36. Enhancing Brand Image through Sponsorship & Event Management Why Sponsor? • Differentiating from Competitors: The mere act of sponsoring an event, especially an exclusive sponsorship, is a significant way to create competitor differentiation. Your company name has the opportunity to stand out head and shoulders above the competition. This is particularly helpful if your company wants to combat a competitor with a larger ad budget. Sponsorship allows smaller companies to compete with their industry giants. Target audiences often perceive sponsorship in a positive way. They see you as making a greater effort to support the event, often allowing more or better activities to take place as a result of your sponsorship. • Helping with good "Corporate Citizen" role: Another powerful sponsorship objective allows companies to be viewed as a "good neighbour." To be seen supporting the community and contributing to its economic development is extremely powerful and creates enormous goodwill. • Enhancing business, consumer and VIP relations: Sponsorship that offers hospitality opportunities is always very attractive to companies. Perks may include special exclusive networking settings such as VIP receptions or golf tournaments – opportunities to meet key customers and solidify business relationships. It is important to evaluate each opportunity and look for ways it could tie into your marketing objectives.
  37. Enhancing Brand Image through Sponsorship & Event Management Event Management: Definition: “Event Management is the planning and management of an event, project or activity” Imagine that you enter the event venue and look around. What do you see? Do the surroundings tell you who the organizer of the event is? Who are the sponsors? What is the message of the event? If the answer is yes, you’ll probably have great topics for discussion with your friends in the bar afterward. If not…well, there’s a chance you won’t recollect the event a week afterward. The event management branding is the aspect of event organization that makes people attend again and again. The biggest advantage of using a killer brand is that it provides a relatively cost- effective solution for turning an event into a “must attend.” Indeed, a nicely constructed logo that resonates with the decorations can draw crowds without draining the budget A well-planned and executed event can increase brand value, grow profit, build market share by creating a stronger and more meaningful connection between a brand and its audience. A poorly planned event can cause severe damage to a brand.
  38. Enhancing Brand Image through Sponsorship & Event Management Importance of Event Management: When you brand an event, you’re invariably propelling it for success. Coming up with a name, colour, logo and messaging specific to the event will stand out from the competition and make it more relevant and meaningful to your audience. In event management, events and meetings enable event planners to deliver directly a brand message and experience to participants in a high-touch environment. One of the reasons organizations invest in creating a memorable and customized event brand is to give the general public a positive impression about the company or product brand. The best-in-class event brings to the fore additional channels through which an organization communicates with their audience.
  39. Brand Equity - Introduction What is Brand Equity? In marketing, brand equity refers to the value of a brand and is determined by consumers’ perception of the brand. Brand equity can be positive or negative. If consumers think highly of a brand, it has positive brand equity. On the other hand, if the brand consistently under-delivers, fails to live up to consumer expectations, and generates negative word of mouth, it has negative brand equity. Simply put, brand equity is the reputation of a brand. Why Does Brand Equity Matter? For brand management, the brand equity is vital as it establishes and fosters the customer loyalty towards the brand, and directly influences the business growth may it be a well-established or a new business. Companies can charge a premium for products with lots of positive brand equity (think of designer brands). Positive brand equity can be transferred to a different product line, which in turn increases sales and revenues for the company. It increases market share, as the brand is widely known, recognized, and preferred by consumers.
  40. Brand Equity - Introduction There can be two motivations to study brand equity:  Finance-based motivation − You can estimate the brand value more precisely for accounting purposes, such as to evaluate the brand as an asset for the purpose of reflecting in the balance sheet, or in case of merging or acquiring a business  Strategy-based motivation − You can study brand equity to improve productivity of marketing
  41. Brand Equity Models Aaker’s Brand Equity Model: David Aaker defines brand equity as a set of assets and liabilities linked to a brand that add value to or subtract value from the product or service under that brand. He developed a brand equity model (also called Five Assets Model) in which he identifies five brand equity components −  Brand Loyalty  Brand Awareness  Perceived Quality  Brand Associations  Proprietary Assets
  42. Brand Equity Models Aaker’s Brand Equity Model:  Brand Loyalty: The following factors depict the extent to which customers are loyal to a brand:  Reduced Costs − Maintaining loyal customers is cheaper than charming new ones.  Trade Leverage − The loyal customers generate steady source of revenue.  Bringing New Customers − Existing customers boost brand awareness and can bring new customers.  Competitive Threats Response Time − Loyal customers take time to switch to a new product or service offered by other brand. Hence this buys time for the company to respond to competitive threats.
  43. Brand Equity Models Aaker’s Brand Equity Model:  Brand Awareness: The following measures depict the extent to which a brand is widely known among consumers:  Association Anchors − Depending upon the brand strength, associations can be attached to the brand which influence brand awareness.  Familiarity − The consumers familiar with a brand will speak more about it and thus, influence brand awareness.  Substantiality − Consumers’ review on brand brings substantial and strong commitment towards the brand.  Consumer’s Consideration − At the time of purchasing, consumer looks for a particular brand.
  44. Brand Equity Models Aaker’s Brand Equity Model:  Perceived Quality: It is the extent to which a brand is believed to provide quality products. It can be measured on the following criteria:  Quality − The quality itself is the reason to buy.  Brand Position − This is a level of differentiation as compared to competing brands. Higher the position, higher is the perceived quality.  Price − When quality of the product is too complex to assess and consumer’s status comes into picture, the consumer takes price as a quality indicator.  Wide Availability − Consumers take widely available product as a reliable one.  Number of Brand Extensions − The consumers tend to take a brand with more extensions as a measure of product guarantee.
  45. Brand Equity Models Aaker’s Brand Equity Model:  Brand Associations: It is the degree to which a specific product/service is recognized within its product or service category. For example, a person asking for Xerox wants to actually make true copies of a paper document.  Information Retrieval − It is the extent to which the brand name is able to retrieve or process the associations from consumer’s memory.  Drive Purchasing − This is the extent to which brand associations drive consumers to purchase.  Attitude − This is the extent to which brand associations create positive attitude in the consumer’s mind.  Number of Brand Extensions − More the extensions, more the opportunity to add brand associations.  Proprietary Assets: They are patents, copyrights, trademarks, trade secrets, and other intellectual property rights. More the number of proprietary assets a brand has, greater is the brand’s competency in the market.
  46. Brand Equity Models Aaker’s Brand Equity Model:  Brand Associations: It is the degree to which a specific product/service is recognized within its product or service category. For example, a person asking for Xerox wants to actually make true copies of a paper document.  Information Retrieval − It is the extent to which the brand name is able to retrieve or process the associations from consumer’s memory.  Drive Purchasing − This is the extent to which brand associations drive consumers to purchase.  Attitude − This is the extent to which brand associations create positive attitude in the consumer’s mind.  Number of Brand Extensions − More the extensions, more the opportunity to add brand associations.
  47. Brand Equity Models Keller’s Brand Equity Model This model is developed by Kelvin Lane Keller, a marketing professor at Dartmouth College. It is based on the idea that the power of a brand lies in what the consumer has heard, learnt, felt, and seen as a brand over time. Hence this model is also termed as Customer Based Brand Equity (CBBE) model. According to CBBE model, it takes answers to four basic questions for building brand equity starting from the base of the pyramid −  Who are you? (Brand Identity)  What are you? (Brand Meaning)  What do I feel or think about you? (Brand Responses)  What type and extent of association I would like to have with you? (Brand Relationships)
  48. Brand Equity Models Keller’s Brand Equity Model  Who are you? (Brand Identity): Brand identity is the way the customers look up to a brand and how they distinguish each brand from another. It is how the brand defines itself in the eyes of the customer. Imagine a human being introducing himself to another. Mostly this includes telling people about yourself and what you do. A similar concept applies to building a brand identity.  What are you? (Brand Meaning): Once you meet a human being and know who they are, there are other questions which are formed in your mind. What do they do? Where are they working? How well is their life? So on and so forth. Just like these questions come to the mind for a human being, customers want to know more about brands as well.
  49. Brand Equity Models Keller’s Brand Equity Model  What are you? (Brand Meaning): Once a customer is aware of the brand, he wants to know more about the brand. He would like to know whether the brand is reliable, whether it is good to use over a long period of time if it has good customer service and other such important information. The customer is understanding what the brand is and trying to know more about it. This second level of Keller’s Brand equity model is divided into 2 parts – factors which define the brand meaning for customers  Brand Performance: The performance of the brand is important for the customer. Not only physical products, even services like Google, Microsoft, Apple Operating systems are loved and trusted because of their performance over time. There are 5 further factors in performance which are considered: product features, product reliability, customer service, style & design, pricing of the product or service
  50. Brand Equity Models Keller’s Brand Equity Model  What are you? (Brand Meaning):  Brand Imagery: What is the image of the brand in the eyes of the customer? How does the customer perceive the brand if it were a human? Does he think the Brand is rugged, or does it think the brand is soft? BMW needs to be rugged but Barbie needs to be soft as a brand. Targeted marketing and word of mouth can build a strong brand image for the brand.  What do I feel or think about you? (Brand Responses): Once a customer buys your product, he builds up expectations towards the brand and the purchase. If the reality matches his expectations, then the customer is very happy and has positive feelings about the brand. If the product goes beyond expectations, it generates huge word of mouth and may turn the customer to become a brand advocate.
  51. Brand Equity Models Keller’s Brand Equity Model  What do I feel or think about you? (Brand Responses): Keller segregates these responses into consumer’s judgments and consumer’s feelings.  Consumer Judgments − They are consumer’s personal opinions regarding the brand and how he has put imagery-related and performance-related associations together. There are four types of judgments crucial for creating a strong brand −  Quality: Customers judge a product or brand based on its actual and perceived quality  Credibility: Customers judge credibility using three dimensions – expertise (which includes innovation), trustworthiness, and likability.  Consideration: Customers judge how relevant your product is to their unique needs.  Superiority: Customers assess how superior your brand is, compared with your competitors' brands.
  52. Brand Equity Models Keller’s Brand Equity Model  What do I feel or think about you? (Brand Responses):  Consumer Feelings: hey are consumer’s emotional reactions to the brand. They can be mild, intense, positive, negative, driven from heart or head. There are six important feelings crucial in brand building  Warmth  Fun  Excitement  Security  Social approval  Self-respect
  53. Brand Equity Models Keller’s Brand Equity Model  Brand Relationships: What type and extent of association I would like to have with you. It is the level of personal identification the consumer has with the brand. It is also called brand resonance, when a consumer has a deep psychological bonding with the brand. Brand resonance is the most difficult and highly desirable level to achieve Harley Davidson is a brand which is the epitome of Brand resonance in the CBBE Model. Harley Davidson bikers are known to love their bikes and the feeling of the ride and generally Harley is the only bike they ride. Not only are the customers connected with the brand, if they find another user using the same brand, a connection is built between the 2 customers as well. It’s like finding another friend just because he uses a brand you love.
  54. Brand Equity Models Keller’s Brand Equity Model  Brand Relationships: Keller categorizes this into four types −  Behavioral Loyalty − Consumers may purchase a brand repeatedly or in high volume.  Attitudinal Attachment − Some consumers may buy a brand because it is their favorite possession or out of some pleasure.  Sense of Community − Being identified with a brand community develops kinship in the consumer’s mind towards representatives, employees, or other people associated with the brand.  Active Engagement − Consumers invests time, money, energy, or other resources and participates actively in brand chat rooms, blogs, etc., beyond mere consumption of brand. Thus, the consumers strengthen the brand.
  55. How to Build a Brand? • Figure out your place in the market Before you start making any decisions about your brand, you need to understand the current market: who your potential customers and current competitors are. There are many ways to do this:  Google your product or service category and analyze direct and indirect competitors that come up.  Talk to people who are part of your target market and ask them what brands they buy from in your space.  Look at the relevant social media accounts or pages your target audience follows and are receptive to.  Go shopping online or offline and get a feel for how your customers would browse and buy products.
  56. How to Build a Brand? • Research your target audience and your competitors As you go about your research, make a note of:  Who your “lowest hanging fruit” customers are—the ones you could most easily sell to.  Who your top of mind competitors are—the brands that are established and known in the market.  How your customers speak and what they talk about—the interests they have and the language they express them in. It’s important to have a handle on this before moving forward as it will inform what your brand should focus on and how it can position itself apart from competitors.
  57. How to Build a Brand? • Define your brand’s focus and personality Your brand can’t be everything to everyone, especially at the start. It’s important to find your focus. Here are some questions and branding exercises to get you thinking about the focus and tone of your brand.  What's your positioning statement? - A positioning statement is one or two lines that stake your claim in the market. This isn't necessarily something you put on your website or business card—it's just to help you answer the right questions about your brand.
  58. How to Build a Brand? • Define your brand’s focus and personality  What words would you associate with your brand? One way to look at your brand is as if it was a person. What would he or she be like? What kind of personality would your customers be attracted to? This will help inform your voice on social media and the tone of all your creative, both visual and written. A fun and useful branding exercise is to pitch 3-5 adjectives that describe the type of brand that might resonate with your audience. For example: simple, beautiful, funny, strong, etc  What metaphors or concepts describe your brand? - Thinking about your brand as a metaphor or personifying it can help you identify the individual qualities you want it to have. This can be a vehicle, an animal, a celebrity, a sports team, anything—as long as it has a prominent reputation in your mind that summons the sort of vibe you want your brand to give off. For example, if I wanted to create a brand targeting entrepreneurs I might choose to use the raccoon as a starting point: They’re scrappy survivors that will do anything to thrive.
  59. How to Build a Brand? • Choose a business name As a business owner, your business name is probably one of the first big commitments you have to make. It’ll impact your logo, your domain, your marketing, etc • Pick your brand’s colors and fonts Once you've got a name down, you'll need to think about how you'll visually represent your brand.  Choosing your colors: Colors don't just define the look of your brand; they also convey the feeling you want to communicate and help you make it consistent across your entire brand. You'll want to choose colors that differentiate you from direct competitors to avoid confusing consumers.  Choosing your fonts: At this point, it's also good to look at fonts you might want to use. Pick two fonts at most to avoid confusion: one for headings and one for body text
  60. How to Build a Brand? • Write a Slogan A good slogan is short, catchy, and makes a strong impression. Here are some ways to approach writing a slogan of your own:  Adopt your customers’ attitude: Nike—"Just do it."  Describe it literally: Aritzia—"Women's fashion boutique" • Design your logo It's the face of your company after all, and could potentially be everywhere that your brand exists. Ideally, you'll want a logo that's unique, identifiable, and that's scalable to work at all sizes • Apply, extend, and evolve your brand as you grow Your brand needs to exist and remain consistent wherever your customers interact with you, from the theme you choose for your website to the marketing you do to customer service to the way you package and ship your products. You'll continue to shape and evolve your brand as you expose more customers to it and learn more about who they are and how to speak to them. It's important to appreciate that you will never have 100% control over how people perceive your brand.
  61. Business to Business (B2B) vs Business to Customer (B2C) Branding • Customer motivation  B2B purchases are motivated primarily by logic and reason. Decisions are made based on facts, statistics and numbers. Emotion enters in as a fear of making a poor decision; branding the business as an expert helps overcome this fear.  B2C purchases are motivated primarily by emotion, whether that emotion is fear, attraction or the desire for status. Branding succeeds by appealing to the target market’s emotions • Customer needs or wants  B2B customers are driven by need. Companies don't buy new software systems on impulse; they seek out products and services in order to solve a problem or do something better.  B2C customers may be driven by need, but just as often, they’re motivated by wants or impulses--that's why supermarkets put candy at the checkout aisle
  62. Business to Business (B2B) vs Business to Customer (B2C) Branding • Number of customers  B2B products and services are sold to large groups of people; making a purchase involves many levels of approval. Your brand needs to appeal to a wide range of stakeholders in different jobs who all have different criteria for the purchase.  B2C products and services are sold to individuals; while there may be times family members or friends are involved in a decision, your brand generally only has to appeal to one person • Range of customers  B2B companies have a smaller range of prospective customers to target. The brand must be carefully tailored to appeal to that niche and demonstrate in-depth understanding of those customers.  B2C companies have a wide range of prospective customers to target. Their brand doesn't have to appeal to all of them to succeed; the goal is to build brand awareness among the greatest number of target customers.
  63. Business to Business (B2B) vs Business to Customer (B2C) Branding • Buyer persona  The B2B "buyer persona" focuses on the prospect's job role, not on him or her as an individual.  The B2C "buyer persona" focuses on the prospect’s individual characteristics and demographics, such as marital status, spending habits, household income, age and gender. • Customer relationship  B2B branding is all about building a relationship with the customer. Products and services are generally sold through direct interaction with a salesperson, and the brand must provide a complete solution (not only a product or service, but ongoing support and someone to service the relationship). The brand focus is on creating a full experience and working with the customer for the long-term.  B2C branding is transactional rather than relational. Even when products and services are sold directly by a salesperson, the relationship is very short-term and often a one-time purchase.
  64. Business to Business (B2B) vs Business to Customer (B2C) Branding • Product information  B2B branding must convey expertise. Prospective customers making big decisions seek information to educate themselves about your solution. Your content marketing should provide lots of detail and include longer-form content; the goal is to brand the business as a thought leader.  B2C branding must convey benefits. Prospective customers don't necessarily need a lot of information about a B2C brand. Even if you're selling a relatively complex service, such as landscaping, home renovation or personal training, the goal is to brand your business as providing benefits that prospects care about. • Purchase price  B2B purchases are expensive, often costing thousands or hundreds of thousands of dollars. The purchase is seen as a long-time investment, and the buyer has a set budget.  B2C purchases range widely in costs but are much less expensive than B2B purchases. While cost is often a factor and many consumers are motivated by discounts and deals, this is rarely the sole motivation for a purchase
  65. Business to Business (B2B) vs Business to Customer (B2C) Branding • Sales cycle  B2B companies have a longer sales cycle because of the many stakeholders involved in the purchase and the higher cost of the products and services. The goal of their branding is to build trust over the duration of the sales cycle.  B2C companies have a very short sales cycle — sometimes only seconds long. The goal of their branding is to have an emotional impact on the prospect that spurs them to buy. • Conversions  The goal of B2B branding and marketing is to convert prospects into customers; then the salesperson takes over.  The goal of B2C branding and marketing is to convert customers into buyers; buyers make their own decisions without a lot of handholding.
  66. Branding a Service vs Branding a Product • Branding a service is very different from branding a product for a variety of reasons, such as:  Products are made where services are delivered  Products are used where services are experienced  Products are tangible where services are emotional • Products are impersonal physical items that can be evaluated before you buy them. Services, on the other hand, are very personal. Customers don’t just buy a service, they buy an experience. • Services don’t even exist until we buy them. There has to be a level of trust or even a “leap of faith” from the customer before they will buy a service. • What are your customers really buying with a service? Many service businesses think that their customers are actually buy their expertise but customers can’t evaluate expertise. What they’re actually buying is a relationship and only they can tell you if the relationship (or chemistry) is good. This is why a competent, likeable consultant will attract far more business than a brilliant but introverted expert.
  67. Branding a Service vs Branding a Product • So what can you do to better brand a service business? Your customers will experience your brand at every touchpoint. You can have a great website and award-winning advertising but if you also have an unresponsive receptionist or sales people, everything fails. • Every act is a marketing act Make sure every employee understands that everything they do is a marketing act and affects the perception of the brand. Some of the touchpoints of service include:  Business card  Website, email marketing and advertising  Brochures, sales sheets  Tradeshow booths and banners  Reception staff  Sales people
  68. How to Build an International Brand • Make sure you have a market: Proven success with your current target audience doesn't automatically mean that your new target will connect in the same way with your products or services. Ask your new market the questions you used to build your initial business plan. First and most important, he says, you'll want to determine if a market exists for your product. If so, make sure the want or need isn't already being well met by someone else. If there are existing competitors, what (in the perspective of your potential customers) makes you remarkably different? If there is a market and there are no competitors, make sure you find out why -- are there laws against distributing your products or can consumers buy them through other means? • Make sure you can deliver: Make sure you can get your product to, or manufactured within, the new market. Import and manufacturing laws vary from country to country. Ensure you can make your products reliably and consistently available to your new target markets. Investigate the local laws. You need to make sure your products meet the local standards for construction of components, use of chemicals, disposal of goods, proper labelling of products, etc.
  69. How to Build an International Brand • Re-examine your business and/or product names: In choosing a name for your business or product, you need to be culturally sensitive if you intend to sell in foreign markets. Make sure product names make sense to customers in your new markets, both in English and in the local translation. If you are considering translating names, don't rely on computer translation. You don't want what you think is an effective name to mean something opposite or offend potential customers. Work with someone locally who can help make sure you communicate what you intend. • Give your logo another look: Review your logo to make sure that you don't use any wording or symbols that would offend in a foreign market. Ensure that any logos or symbols you use make sense and don't offend. Do an international search to make sure your logo isn't similar to that of another international company. For example, if you are selling products in some Middle Eastern markets, a logo featuring the face of a woman might not be appropriate. The best way to understand these cultural sensitivities is to consult a branding or design firm -- either a local one or an international firm that can research cultural sensitivities.
  70. How to Build an International Brand • Understand packaging requirements. If you're selling a product, you need to consider the laws and customs and packaging requirements in your new markets before deciding on packaging for your products. Your packaging may use a clear plastic shell that hangs from a rod, but your competition may package their product in a box that can go on a shelf. If you're selling a packaged product around the world there are incredible hurdles. Shipping food across borders may require you to provide more nutritional information on packaging, in more languages, and there may be laws prohibiting the use of certain products in some market. Learn the local standards and ensure your packaging includes any necessary regulatory information and meets transportation standards. • Register trademarks and domain names: Follow the process in your new market to ensure you preserve patent and trademarks. Another consideration is making sure the Internet domain name for your company and product are available. You still want to register a dot-com, which is the most popular domain worldwide for businesses. But you may also consider registering domains using specific country codes -- .nl for the Netherlands or .br for Brazil -- if you are targeting only one or two local markets and plan on providing up-to-date translations of your websites into the local languages. In taking these steps to building a brand internationally, it almost always helps to find local resources to help you understand and enter new foreign markets
  71. How to Build an International Brand • Building International Brand Awareness: Craft and communicate a message that is relevant to the needs and wants of your customers. Deliver this message in the places they are receptive to it, in terms they can relate to and understand, and through the channels that will truly reach your potential customer.  Craft your message: Having done your homework and researched the new foreign markets, and perhaps engaged the help of a local firm or representative, you have hopeful honed your domestic branding for this new audience. Be sure to note what the competition and other businesses are doing. What may have seemed witty or charming in the U.S. may be misunderstood in your new market  Deliver this message through the right channels: Make sure you are communicating your message where it will be seen. What are the habits of your customer base in that other country? Where are they found? What is their lifestyle? What are they doing?. There is no secret answer. It's up to you to connect the dots and find the right approach.
  72. How to Build an International Brand  Communicate in the right manner: The manner and tone in which you engage your potential and new customers is as important as the words you choose. Manner and tone will come across through your packaging, advertising, online, through your sales people, and even the way you answer the phone. What types of interaction you will have with customers? What will be the tone you choose? What types of sales process and policies will you use? Even though you are based thousands of miles away, this is still a reflection on you and your brand. Remember that • Maintain your Brand Reputation: You need to be vigilant in maintaining your brand reputation in every market in which you sell. That gets harder as your business gets bigger and expands into more locales. Remember, your brand is a promise. You're starting to make a promise that people are buying into and you need to deliver whatever that product or service is. You need to ensure that your customers' experiences with your product, your business, and your staff are positive. That extends to how you deliver your product, product quality control, how service is delivered or structured, and how your people act In branding, one bad customer experience often resonates longer than one good experience. So you need to have a constant vigilance
  73. Country of Origin Effects In principle, the country of origin is the country in which the group headquarter that markets the product or brand is located. However, the product does not necessarily have to be manufactured there. A country of origin perceived as positive has a positive effect on brands, for example by perceiving the quality of a brand as significantly higher. Much evidence suggests that certain countries of origin increase the prestige factor of brands. The following three factors show why the country of origin plays such an important role in international brand development: • The country of origin as a distinctive feature of brands: As a rule, consumers associate specific ideas with different countries. For example, the USA is considered to be very innovative and technology-oriented. For brands, it can be much more effective to use this existing knowledge of the country of origin effect than to communicate the same qualities and characteristics individually and without reference to the country of origin – for example through expensive advertising.
  74. Country of Origin Effects • Growing claims are tied to foreign brands: In many growth markets, foreign brands are used to demonstrate social advancement: they are more expensive and are associated with high prestige. The preference for foreign brands is usually pronounced in product categories where the country of origin is supposed to have a higher level of competence. The preference for foreign brands is increasing in step with income. Against this background, the emphasis on brand origin offers a cost-saving and effective opportunity to attribute to a foreign brand such characteristics as quality, flawless functionality and excellent design. • Limited availability increases demand: Many emerging markets are opening up slowly, which in turn means that foreign brands are only available to a limited extent. Brands from Western countries in particular therefore enjoy a high reputation in these growth markets due to their relative novelty and scarcity. In addition, many local products cannot yet keep up with the products developed in the West.
  75. Country of Origin Effects Among the countries currently benefiting most from a positive country of origin image include Germany, the USA, Japan and Switzerland, due to their tradition, excellent quality and state-of- the-art technology or engineering. “Made in Germany”, for example, has been regarded for decades as a quality feature that communicates prestige and reputation in a great measure. The advantage: the country of origin image cannot really be imitated by competitors and is therefore a sustainable differentiation factor. For global marketers, this clearly means that the better the COO image, the more clearly the origin should be communicated.
  76. How Indian Brands Can Look Towards Going Global Indian brands can make a name for themselves globally by simply focussing on improving their goods, operations and organizational ability. • Strategic Partnerships: A good way of opening the way for more opportunities in the international market is by partnering with reputable brands in host countries. Joint ventures and strategic alliances can help in making a name for the Indian brand in the global world on account of their linking up with a well known brand. Many Bollywood production houses have collaborated with the likes of big international companies, Fox and Disney, to help with distribution in the global market. This helps in the smooth functioning of operations in the international and global market, legal formalities, and instils a sense of global presence for the local brand. It can be the ideal first step in moving towards globalization for any Indian brand. It can also help Indian organizations leverage the already strong established distribution networks of the host organization.
  77. How Indian Brands Can Look Towards Going Global • Enforcing Discipline: Discipline is the pride of the Western industry. Work culture in the east is not akin to these standards and often, developing nations get a bad name for an easy-going (or lax) attitude. Market and regulatory institutions also have a role to play here. If we want to establish brands that can provide quality of global standards, our quality and hygiene standards need to be raised both within the organizations and without on the national level. If drugs produced by Indian companies fail to pass quality checks in Europe the US, we cannot expect them to become global brands; they can at best continue to capture market share in other developing countries in Asia and Africa. To be a force to be reckoned with in the global world, local companies need to build a brand which can be associated with discipline, business ethics, sincerity of service and top notch professionalism. It is important to enhance quality, output and productivity up to the standards of international levels to not only become globally competitive but an all round global brand.
  78. How Indian Brands Can Look Towards Going Global • Think Globally, Act Locally: Any firm which wants to be involved in the global trade needs to follow the concept of ‘Think Globally, Act Locally.’ One can follow the example of the major MNCs which function in India, the way they focus on local needs, exploiting Indian tastes and preferences while maintaining the business standards and core product value of their home country. • Invest on R&D: You can go as far by producing generic products. Organizations which desire to make a splash globally need to have long term vision and thinking. This includes investing in Research & Development to produce indigenous products that can earn patents. However, due to longer gestational period and need to invest significant time and money, many Indian companies shy away from going all out in this domain. This needs to change if we have to produce globally competitive brands.
  79. How Indian Brands Can Look Towards Going Global • Banking on Indian reputation: In the global map, India raises many talking points as a culturally rich and diverse nation with a unique history. It has a reputation in many fields, from spirituality and Yoga, to ayurvedic and herbal medicine, flora and mineral resources, as well as a strong hold of human intelligence resources. This vast reputation can be exploited by brands in order to establish a foothold in the international market. Focusing on India as a pioneer of healthy alternatives in medicine, the land of Darjeeling tea, promoter of Yoga and classical Indian dance and music, even Bollywood, and home to highly capable IT professionals, can help in creating a unique global footprint.