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- 1. What company? “ Logo a No-Go” “ Logo Change Disaster” “ Adding brand damage” “ New logo flops”
- 2. GAP
- 3. GAP
- 4. Tropicana
- 5. Want more? http://adweek.blogs.com/adfreak/2010/10/a-look-at-30-other-corporate-logo-redesigns.html
- 6. The Brand – whose logo?
- 7. The Brand
- 8. New logo
- 11. A Brand is a promise to deliver specific benefits associated with products or services to consumers.
- 12. A Brand is a perception. Which brands have such strong connections/perceptions that people say they won’t give them up? http://adage.com/article?article_id=146398
- 13. Brand Represents Ownership Distinguishes from Competitors Adds Value Delivers a Promise Offers Consistency For the manufacturer For the consumer
- 14. Product vs. Brand Product Made in a factory Easily duplicated Can be outdated Generic Created through marketing efforts Is unique Is timeless Has personality
- 17. Brand Equity is the power of a brand, through creation of a distinct image, to influence customer behavior.
- 18. Brand Equity
- 19. Building Brand Equity Brand Equity
- 21. A Strong Brand occupies a distinct position in consumers’ minds based on relevant benefits and creates an emotional connection between businesses and consumers. B
- 24. Building Strong Brands Project the Right Message Provide Identity Saves Time
- 25. Building Strong Brands Starts with positioning High Quality Low Quality High Price Low Price
- 30. Building Strong Brands Higher Emotional Connection with Consumers Increasing Difficult for Competitors to copy Positioning
- 33. Acura Integra? Beer, Cigs and Ammo Mattress City
- 34. Brand Sponsorship Manufacturer (National) Brands Store (Private Label) Brands Licensing Co-branding Kellogg’s Pop-tarts with Smucker’s Jelly Disney Princess Band-aids Heinz Kellogg’s Kroger Value Always Save Best Choice
- 36. Brand Development Line Extension Crayola Crayons, Markers, Paints Brand Extension Disney Cruises … New Brands Toyota Lexus
- 37. Brand Development … What are these ? Coke Zero Fruit of the Loom Underwear Trivial Pursuit Pop-tarts Snickers with Almonds A class designed by both B-School and J-School profs
- 40. Brand Management is the overall coordination of a brand’s equities to create long-term brand growth through overseeing marketing mix strategies.
- 41. Managing Brands Consistent Brand Message Manage Customer Experience Focus on Long-term Growth
- 42. Examples
- 43. Brand Protection Product Recalls Bad Publicity Counterfeit Products Genericize
- 44. Genericized Aspirin Yo-Yo Webster’s Dictionary
- 45. Generic
Notes de l'éditeur
- Brands provide benefits to both the manufacturer and the consumer.
- The differences between a product and a brand. Brands are born through efforts of the firm, but are created by the experiences of customers.
- The benefits that companies gain from branding are numerous.
- Channel Switching – Strong brand equity allows a company to move into new channels Brand Stretching – Allows for new products to be introduced under an existing brand name. Because of strong brand equity, based on consumer trust, Johnson and Johnson has been able to continually introduce new baby products into the market under the “Johnson’s Baby” brand name. Brand Alliances – Partnering with other companies through co-branding (KFC and Taco Bell sharing site locations), licensing, or cross marketing (companies that agree to promote each others products). Relationship Building – Allows for faster and closer connection to customers and distribution partners. Supplier Advantages – Strong products attract attention to suppliers because they know these products will sell in the marketplace. As such, suppliers are often willing to extend more favorable pricing and other considerations to secure a relationship.
- Benefits of brand equity include greater loyalty and commitment from customers and high levels of customer equity.
- Given the number of brands a consumer will be exposed to in a typical supermarket aisle, managers with strong brands want customers to focus solely on their brand. By providing an identity that is easily recognized, consumers save time by zeroing in on their favored brands quickly.
- From a psychological perspective, brands are the gut feeling that consumers have when thinking about a specific brand. To build the right perspective in consumers mind’s the first step is with the positioning of the product. Brands can be positioned in numerous ways including by differences between products, by similarities (we’re just as good only less expensive), by attributes, benefits, and values, which are discussed on the next slide.
- Attributes are the basic elements of the product – smells, tastes, texture, ingredients, etc. Benefits focus on what the attributes provide the consumer through the purchase and use of the product. These include elements such as security, quality, performance, convenience, and value. Values are what create emotional connections with consumers. Develops brand loyalty, commitment, and strong consumer equity.
- Brand names can take many different forms. There are national brands (such as Kellogg’s, Tide, Coke) and private label brands such as Kroger, Meijer, Winn Dixie, Publics (select the supermarket chain in your area…). Co-branding is where two well known brands are jointly used such as Kellogg’s Pop-Tarts with Smucker’s Jelly.
- There are many options to choose from when developing brands.
- There are many options to choose from when developing brands.
- Brands grow just a children do. A brand manager takes a role similar to that of a parent, providing resources and protection. Because brands are the most important assets a company possesses, managers should focus on the long-term growth of the brand. The key factor in managing brands is not advertising, but through managing the experience that members of the target market have with the brand.
- How companies react in times of crisis has an impact on customer perceptions of the brand. In 1982, seven people in Chicago died after taking Extra Strength Tylenol capsules. Upon learning of the deaths, Johnson and Johnson was faced with the deaths of seven people who had taken their product, the company immediately put out warnings, halted production, and stopped all advertisements. A week later, the company initiated a nationwide recall of over 30 million bottles, that had a retail value of over $100 million. They went further with ads urging consumers NOT to consume any product that contained Tylenol. Tylenol saw its market share drop from 35% down to 8%, but within a year if reintroducing Tylenol, market share was back to the same level as before. Within 3 years, Tylenol became the most popular OTC pain medication. Counter this with examples of Firestone and Ford Explorer, or Perrier being found to contain cyanide. While not widespread in the US, counterfeit products can also cause trouble for companies. Successful brands in Asia are under constant threat from counterfeiting, often leading to brands being forever lost. This is especially the case with well known food brands in China where counterfeiters use inferior and oftentimes harmful ingredients.
- Genericized: Term used to describe what happens when a brand name becomes so well recognized that the names become the product category name.” Aspirin, Yo-Yo and Webster’s Dictionary have all suffered the fate of losing their brand name. In the case of Webster’s Dictionary, a trademark was only requested for Merriam-Webster Dictionary and not Webster’s Dictionary. Next Slide – Are these brands in danger of losing their brand names?
- Genericized: Term used to describe what happens when a brand name becomes so well recognized that the names become the product category name.” Aspirin, Yo-Yo and Webster’s Dictionary have all suffered the fate of losing their brand name. In the case of Webster’s Dictionary, a trademark was only requested for Merriam-Webster Dictionary and not Webster’s Dictionary. Next Slide – Are these brands in danger of losing their brand names?