2SYLLABUSUnit 1: Brands versus products, what can and cannot be branded, branding challenges and opportunities; Customer based brand equity, sources of brand equity, Aakers model of measuring brand equity, building a strong brand.Unit 2: Identifying and establishing brand positioning, guidelines, internal branding and brand auditsUnit 3: Building brand identity-The Kapferer’s identity prism, Choosing brand elements, options for brand elements, designing marketing programmes to build brand equityUnit 4: Designing & Sustaining Branding Strategies: Brand hierarchy, Branding strategy, Brand extensions.Unit 5: Marketing communication to build brand equity, developing communication programmes, building an online brand
3UNIT 1Brands versus products, what can and cannot be branded, branding challenges and opportunities; Customer based brand equity, sources of brand equity, Aakers model of measuring brand equity, building a strong brand.
6What is a brand?It is a name, term, symbol, sign, design or a combination intended to identify and differentiate goods and services of one against another.What this means is therefore whenever marketer creates a new name, logo or symbol for a new product or service a brand is created.‘Is the above statement correct?’
8Therefore there is a difference and practioners say that brands are more than that and it is about awareness, reputation, prominence and so on.Brands therefore is to differentiate and distinguish using ‘brand elements’.
9Brand NamesCould be a:People: Tata motorsPlace: British AirwaysAnimals: DoveOthers: Shell, General Electrics and so on.Brand names could be based on product meanings like, ‘surf’, ‘active fresh’, ‘sleep well mattress’.
10Brands versus products Product is anything that we offer to a market for attention, acquisition, use or consumption that might satisfy a need or a want.Automobile, banking service, insurance company, a retail store and so on.
125 levels of meaning for a product Core benefitFundamental need or want that consumers satisfy by consuming the product or service.Level 2Generic product levelBasic version of the product containing only those attributes necessary for its functioning but with no distinguishing features. Stripped down no frills version.Level 3Expected product levelSet of attributes or characteristics that buyers expect and agree when they purchaseLevel 4Augmented product levelAdditional product benefits, attributes, and related servicesLevel 5Potential product levelAugmentations and transformations that a product might go in future.
13Air conditioner Cooling and comfort Sufficient cooling capacity, energy efficiency, adequate air intakeConsumers expect two cooling speeds, removable air filters and one year warrantyOptional features like touch panel, display panel, thermostat, a toll free number and so on.Silently running, completely balanced and self sufficient.
14ExerciseChoose a product and present the five levels of meaning for a product
16“ The struggle between companies is not on the products they sell, but something else.” “A brand therefore is more than a product, because it can have dimensions that differentiate it in some way from others designed to satisfy the same need.”
17A brand therefore can be a: Physical good: Kellogg's cornflakes Service: Jet Airways Retail Store: Big Bazaar Person: Amitabh Bachhan Country/State: Kerala Online Store: Flip kart Social Cause: Being Human
18Brands create competitive advantage: Because of performance. (Benz, Gillette)Because of innovation. (GE, Apple)Because of non product related means, like image (Coca-Cola)
19Why do brands matter to consumers? Identification of source of productAssignment of responsibility to product makerRisk reducerFunctional risk: Risk of non performancePhysical risk: Threat to physical healthFinancial risk: Not worth the moneySocial risk: The product results in embarrassment from othersPsychological risk: Affects the mental well being of the user.Time risk: The failure leads to the opportunity cost of searching another product.Search cost reducerPromise, bond or pactSymbolic deviceSignal of quality
20Search goods: GroceryExperience goods: Cars, tyresCredence goods: Insurance; here consumers may rarely learn product attributes.
21Why do brands matter to firms? Means to identify and handle or traceLegally protecting unique featuresQuality level to satisfied customersEndowing product with unique associationsCompetitive advantageFinancial returns
22What can be branded? Physical goods High technology products Services Retailers and distributorsOnline products and servicesPeople and organisationSports, arts and entertainmentGeographic locationsIdeas and causes
24What can and cannot be branded? Present on one of the categories in the previous slide.(PREFERABLY INDIAN BRANDS)HistoryUniquenessFinancial returns for the brandConsumer expectations from the brands
25Branding challenges Savvy customers Brand proliferation: No single brands available.Media Fragmentation (Cost, clutter, fragmentation and technology)Increased competition: Globalization, low price, brand extensions and de-regulation.Increased costsGreater accountability: Time taken to build brands are not available; short term profits