MKT09909 Lecture 1 Introducing Brands And Brand Management 2014

Topics: Brand, Branding, Brand management Pages: 11 (458 words) Published: July 26, 2015
MKT09909
Brand Management
Topic 1
Introducing Brands and Brand
Management

What is a Brand?
Definition:
For the American Marketing Association (AMA, 2014), a
brand is a:
“name, term, sign, symbol, or design, or a combination of
them, intended to identify the goods and services of one
seller or group of sellers and to differentiate them from
those of competition.”
These different components of a brand that identify and
differentiate it are brand elements.
In creating a brand, many choices available over number
and ‘how’ elements used to create identity for products.

Importance of Brands to Consumers
 Identification of the source of the product
 Assignment of responsibility to product maker
 Search cost reducer
 Promise, bond, or pact with product maker
 Symbolic device
 Signal of quality
 Risk reducer
(functional; physical; financial; social; psychological or time)

Importance of Brands to Firms
 Identification to simplify handling or tracing
 Legally protecting unique features
 Signal of quality level
 Endowing products with unique associations
 Source of competitive advantage
 Source of financial returns

Brand as an Output Process
Brands are not something we do to consumers. Rather,
branding should be seen as “something consumers do with
things” (De Chernatony et al, 2011 pg 46)
8 Category Typology: Brand as a......
1)... sign of ownership
2)... differentiating device
3)... functional device
4)... symbolic device
5)... risk reducer
6)... shorthand device
7)... legal device
8)...strategic device

What can be Branded?








Physical goods
Services
Retailers and Distributors
Online products and services
People and Organisations
Sports, Arts, and Entertainment
Geographic locations

 Ideas and Causes

Challenges and Opportunities?









Savvy customers
Economic downturns
Brand proliferation
Media Transformation
Increased competition
Increased costs
Greater accountability

Brand Equity
Brand equity relates to the fact that different outcomes result in the marketing of a product or service because of its brand name, as compared to if the same product or service did not
have that name (Keller, 2013)
Brand Identity

Brand
Awareness

Brand Equity

Brand
Loyalty

Perceived Quality
Based on Aaker & Joachimsthaler (2000)

Brand Strategy
Strategy is based on two
parameters:

Winning

Differentiation Strategy
Added Value Strategy

Strategy
Analyse, identify
and position for
clear competitive
advantage
(Riezebos, 2003)

Competitive
Advantage

Sustaining/
Revitalising

Extending

Key Branding Considerations
Criteria for a Brand
o
o
o
o

Awareness
Clear Benefits
Consistency
Distinct

Brand name
Can be pronounced
Easy to recognise and recall

Branded articles
Goods or services with a brand

Unbranded or “generic” articles
Goods with no brand mark

Top 10 Global Brands 2013
Brand

Brand Value
2013 (US $Billion)

% Change since 2012

Apple

185,070

1%

Google

113,669

5%

IBM

112,536

-3%

McDonalds

90, 256

-5%

Coca Cola

78,415

6%

AT&T

75,507

10%

Microsoft

69,814

-9%

Marlboro

69,383

-6%

Visa

56,060

46%

China Mobile

55,368

18%

Source: BrandZ Top 100 Most Valuable Global Brands 2013: MillwardBrown Optimor

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