2Hmmmm….. Why do companies develop brands? How do they come up with brands?What makes a brand successful?
3What is a brand?Brand: is all of the impressions and experiences consumers associate with a company, a product, or a service. Brands relate to customers on an emotional and rational level.A brand is a name, term, symbol, design, or combination thereof that identifies a seller’s products and differentiates them from competitors’ products.
4What is a Product Brand?A name, term, symbol or design that identifies a product and distinguishes it from a competitor.Product brands are trade names, brand names, brand marks, and trade characters.
5Types of brandsManufacturePrivateFamilyIndividual
6Characteristics Effective Brands Easy to read, pronounce, and rememberCreate appealing imagesDistinctiveAdaptableAppropriate packaging and advertisingKnown benefits from productsLegally available
7Why create a brand? Product is easily identified If you have $ to Promote…Could be more profitableBuild loyalty and recognitionCreates jobs!!!!
17The differences between modern brands & classic brands are profound. Delivering a promiseInternal structureSingular consistent messagesCommunicate an imageTrust through authorityStrive for perfectionControllingMarketing as a layerCreate a transactional relationshipModern brandsGuided by a purposeInternal cultureMultiple coherent ideasDeliver an experienceTrust through transparencyProgress by iteratingEmpoweringMarketing is built-inCreate a community
18What is Brand Promise?+ = what your business will consistently deliver to the customer, the statement that you make to customers that identifies what they should expectThis establishes your customers’ expectations for the quality and consistency of their experiences with your business.
19What do these brands promise? FORDVolvoOllie'sAllstateFirst AlertMichelinScrubbing BubblesTimex Watches
20Continued Brand Promise…. Businesses want to control perceptions, thoughts, and feelings customers have about them.It provides guidance to employees as they interact with customers daily.A brand must promise a relevant, compelling and differentiated benefit to the target customer.
21Continued Brand Promise…. What does your business do better than anyone else?What does your business have, done, or provided that your competitors don’t?What makes your business unique?
22What is the Importance of a Company’s Brand Promise? A company’s brand promise establishes a base line of customer service to be expected.It reflects the core values of the company and should be demonstrated by every employee throughout the company.This has a direct impact on the customer’s experiences with the company; thus, developing a long term business relationship with customers.
23OBJECTIVE 2.07PART 2 - Reinforce company’s image to exhibit the company’s brand promise
24What can affect Brand name? Bad publicityHealth scareDisasterMiracleEndorsement
25What are factors impacting a company’s Brand Promise? Brand Champion is the one that analyzes the business’s strengths. Brand Champion is the CEO or manager.100% commitment to core values starts at the top. From the CEO to the mailroom clerk or doorman, customers need to know they are the first priority. The champion keeps the brand alive throughout the company.
26What is a Vision and Mission Statement? Mission statement: is a brief summary of what you want your business to be doing.Vision statement: is what your business will become.Review your business plan for valuable brand clues.Understand your customer’s wants and needs.Understand the core values of the business.Consider your brand internationally and on the internet.
27WHAT IS COMPANY/CORPORATE IMAGE? A corporate image is the perception that the general public holds about a particular business.Many companies invest a great deal of time and other resources in an effort to influence the opinion that consumers hold about the products offered by the business, as well as the business itself.
28Continued Company Image… Images could be based on so many different characteristics such as quality of products, solid and long positive reputation of the company, highly trained sales team, lowest prices in town, integrity of staff, long standing positive community relations, and customer service.
29Continued Company Image… Image is be based on:A) quality of productsB) solid and long positive reputationC) highly trained sales teamD) lowest prices in townE) integrity of staffF) positive community relationsG) customer service.
30Corporate Image Continued…. One of the most basic ways of shaping a corporate image is establishing and maintaining positive relationships with the general public.This effort usually begins by offering products that successfully meet the needs of customers, thus generating goodwill.
31Why is Company Image so important? Companies with strong corporate images have an advantage in the market place because their names add value to their products and reduces uncertainty in the eyes of distributors, retailers and consumers.
32HOW CAN EMPLOYEES REINFORCE COMPANY IMAGE? Employees should be trained and motivated to project a positive image of the company.From training employees on answering telephones, how daily decisions are made, to establishing dress code requirements shows that companies understand how important communicating a positive image is to the company’s successManagement and employees worktogether to convey a positive image
33EMPLOYEES & BRAND IMAGE CONTINUED… Employees are walking, talking demonstrations of brand values everyday in everything they do.Employees connect brand values with customers through touch points (= all opportunities that businesses have to connect with customers and reinforce brand value) to make brands come alive.Employees both reflect brand valuesand help shape them.
34Think About It… Describe the dress code for principals and teachers. Describe the dress code/personal appearance, & demeanor for an employee of Biltmore EstateDescribe the dress code and personal appearance requirements for an employee of Belk.Describe the image of Hot TopicDescribe the image of Abercrombie & Fitch