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Everyone brands

Everyone brands. Manufacturers Retailers Private Store Wholesalers Services Malls. What is a brand?. A name A symbol A product A store A promise the consumer can trust A key asset. Why Consumers use Brands. Brand as asset. Brands have equity

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Everyone brands

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  1. Everyone brands • Manufacturers • Retailers • Private • Store • Wholesalers • Services • Malls HED 460

  2. What is a brand? • A name • A symbol • A product • A store • A promise the consumer can trust • A key asset HED 460

  3. Why Consumers use Brands HED 460

  4. Brand as asset • Brands have equity • perceived to have value beyond what products/services/stores they are attached to produce in sales and profits • Brands can be more lasting than assets of factories, warehouses, stores • Brands may appreciate rather than depreciate • Brands are portable HED 460

  5. Measuring brand equity • Value stockholders place on a brand • Consistently deliver on their promise • The Gap • Home Depot • Amazon.com • Market Share • Penetration • Lifetime value of customer HED 460

  6. Company performance HED 460

  7. What threatens brand equity? • Low or inconsistent quality • Michelob (Where you’re going, it’s Michelob) • Extending into inappropriate channels • Lack of innovation • Not differentiating • Not meeting consumer expectations • “every point of customer contact” HED 460

  8. Planning Brand Strategy • Know your core business • Develop 3 interrelated strategies • Communicate brand strategies HED 460

  9. 1. Positioning strategy • The niche a brand occupies in consumers’ minds • Maintain parity with competitors AND differentiate • Must define 3 things • target audience • competitive frame of reference • meaningful differentiation point HED 460

  10. Motel 6 positioning • For frugal people, Motel 6 is a comfortable night’s stay at the lowest price of any national chain. • Target audience • Competitive frame of reference • Meaningful Differentiation point HED 460

  11. Develop positioning strategy • For (target audience), your brand is a (competitive frame of reference) that provides (meaningful differentiation point). • Is it a brand? Not just a store name. HED 460

  12. Positioning examples • Product superiority, maintain service • Mercedes-Benz, Sony • Excel in service, hold own in quality • Nordstrom, Saturn • Superior use of user imagery, adequate or strong performance • Calvin Klein, Harley Davidson HED 460

  13. 2. Create Brand Personality Strategy • Set of human traits it portrays in its relationship with its customers • Character or personality that predicts what to expect • “that sounds like a __________ ad” • Motel 6 personality strategy • Deliver brand personality at every point of contact HED 460

  14. 3. Manage Brand Affiliation • How you think others will perceive you if they know you use a particular brand • Prevent negative or limiting perception • Motel 6 example • Bic example • ballpoint pens - 1950’s • disposable cigarette lighters - 1970’s • disposable razors - 1980’s • Perfume - 1989 - “Paris in your pocket” HED 460

  15. Homogenous tastes Economies of scale Small markets get their share Brand effectiveness can be improved Local market tastes/pref. ignored Choices and effectiveness diluted for global appeal Local regulations and restrictions For Global Against HED 460

  16. Cyberbranding • Strong brand can provide powerful advantages • Branding is more complex • creating an experience that potential buyers interact with • Reach and interactivity are increased • Victoria’s Secret example HED 460

  17. Brand Extension • New products • Williams-Sonoma’s Pottery Barn catalog launched Pottery Barn Kids • L.L. Bean launched L.L. Home • New customers • Abercrombie & Fitch launched abercrombie • New formats • Avon to Avon.com, mall-based kiosks, Avon spa • Delia’s direct marketer, stores, Internet HED 460

  18. Brand Extension • New Channels • Starbucks, license with Kraft for supermarkets • New Businesses • Tesco now offers natural gas to customers • Nordstrom is into financial services HED 460

  19. Rational Branding • Something of value is given in exchange for information • Build your own…... HED 460

  20. Rational Branding HED 460

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