Brand Management Summary

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Summary: Brand Management 2012-2013 (328032)

Material included:
* Constructs, findings & implications from each week’s papers * Lecture Notes & slides summary

Table of Contents:page:
Week 1: Brand Management2
Articles2
Lecture summary4
Red Bul Case findings6
Week 2: Brand Positioning7
Articles7
Lecture summary10
Week 3: Special Branding Strategies13
Articles13
Lecture summary17
Week 4: Consumer Brand Relationship & Brand Communities21
Articles21
Lecture summary25
Week 5: Brand Image29
Articles29
Lecture summary33
Week 6: Research Method36
Articles36
Lecture summary40
Week 7: Brand Management Framework44
Articles44
Lecture summary48
Week 8: Brand Equity and Transgression51
Articles51
Lecture summary54

INDEX OF ALL TERMINOLOGY59

Week 1: Brand Management

Article 1: Keller, Kevin Lane (1993) “Conceptualizing, Measuring, and Managing Customer-Based Brand Equity,” Journal of Marketing, 57, 1, 1-22 Constructs:
* Consumer based brand equity: The differential effect of brand knowledge on consumer response to the marketing of the brand. It involves consumers’ reactions to an element of the marketing mix for the brand in comparison with their reactions to the same marketing mix element attributed to a fictitiously named/unnamed version of the product or service. * Brand knowledge: a brand node in memory to which a variety of associations are linked: * Brand image: set of brand associations in a consumers’ memory. It are perceptions about a brand as reflected by the brand associations held in consumer memory. Brand image is defined by: * Type of Brand associations:

* Attributes: Non-product related or product related. * Benefits: Functional, experiential or symbolic. * Attitudes
* Favorability, Strength and Uniqueness of Brand associations * Brand awareness: recall and recognition by consumers. It is about the strength of the brand node or trace in memory.

Findings:
* A brand is said to have a positive (negative) customer-based brand equity if consumers react more (less) favorably to the product, price, promotion, or distribution of the brand than they do to the same marketing mix element when it is attributed to a fictitiously named or unnamed version of the product or service. * Favorable CBBE can lead to enhanced revenue, lower costs, greater profits, larger margins, less elasticity, increased marketing communication effectiveness and licensing opportunities. * Pricing, distribution, advertising and promotion strategies stimulate CBBE. * Building CBBE requires creating a familiar brand name and a positive brand image. * Measuring CBBE can be done (1) indirectly by measuring sources of brand knowledge or (2) directly by measuring the effects of brand knowledge on consumer response to elements of the marketing mix. * Managing CBBE: (1) take a broad and long-term view of marketing a brand (2) specify the desired consumer knowledge structures and core benefits for a brand (3) consider a wide range of traditional and nontraditional advertising, promotion and marketing options (4) coordinate the marketing options that are chosen (5) conducting tracking studies and controlled experiments (6) evaluate potential extension candidates.

Implications:
* Marketing activity can potentially enhance or maintain consumers’ awareness of the brand or the favorability, strength or uniqueness of certain associations. * This enables making short- and long-term decisions better and more insightful. Article 2: Esch, Franz-Rudolf, Tobias Langer, Bernd H. Schmitt and Patrick Geus (2006), “Are Brands Forever? How Brand Knowledge and Relationships Affect Current and Future Purchases,” Journal...
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