...DEFINITION OF BRANDS AND BRAND-BUILDING Before proceeding further, it is important to establish clarity and a shared understanding of 'brands', and the process involved in building a brand. A brand is a mixture of tangible and intangible benefits, which if properly managed, can create value and lead to preferential choice, not only from customers but also from other key stakeholders (employees, investors, partners). Building a strong brand is a complex task. It is about creating value through the provision of a compelling and consistent customer experience that satisfies customers and keeps them coming back. When a company creates this type of preferential choice and loyalty, it can build a strong market share, maintain good price levels and generate strong cash flows. Building a brand starts with a clearly defined and persuasive value proposition - a compelling offer that appeals to potential customers. To do this, a company must develop a strong understanding of who their potential customers are, what they value, and how the products, services and internal resources should be optimised or configured to deliver this value. Furthermore, the company must develop the appropriate capabilities and resources (staff, culture, skills, infrastructure, partnerships, etc.), which must be built and aligned to support, deliver and reinforce this value proposition. Once this has been established, the next step is to get customers to choose the brand. To entice trial requires...
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...“Your brand is what other people say about you when you’re not in the room” Jeff Bezos – Founder, Amazom.com Introduction What is Brand Development and why is it important? Simply explained, brand development is the process of improving a brand or improving customers’ knowledge and opinions of that brand. Branding is a vital and essential element for marketing to create value and connectivity with audiences. Customers do not simply purchase services and products purely on functionality, lowest price or that it is the most reasonable choice above all others, they do so because they love and trust certain brands which over time have become an irreplaceable necessity to their lives. A high equity brand gives its owner many advantages. In addition to the obvious benefit of driving market share, a strong brand can command a price premium, augment customer relationships as well as boost stock prices. Customer generated content is the easiest marketing method to build trust for your brand. When your customers are creating content for your brand, such as positive online reviews, case studies, testimonials, contests, social shares and other forms of participation, you not only build trust with new customers but you empower your best customers with the ability to be a crucial part of your branding. Keller's Brand Equity Model, also known as the Customer-Based Brand Equity (CBBE) Model illustrates four critical steps that one should to follow...
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...all answers) 1. What are the brand values of Theo Chocolate? The brand values of Theo Chocolate are being eco-friendly and socially responsible. Theo Chocolate built its image by producing organic, Fair Trade, bean-to-bar chocolate. 2. Is it valid for Theo to attempt to be the Starbucks of chocolate? What would that mean for Theo, exactly? Yes, absolutely. To be the Starbucks of chocolate is deeply rooted in the Theo Chocolate business; Theo's founder, Joe,believes that all parties involved in the business, from cocoa bean farmers to chocolate salespeople, should be treated fairly. Also, this will help to build a sustainable business. The chocolate is no longer a commodity, but a health-based consumer product and a lifestyle. It's not easy to make a difference in everyone's life, but it's meaningful and Theo has firmly made its first step. 3. Theo consumer brand a. What should the objectives be for the Theo consumer brand over the next five years? When Theo’s large competitors shift gears from low-end commodity-based consumer products to high-margin health-based products, focusing on growing niche markets, Theo faces fierce competitionin the chocolate industry. Being able to stick to its current positive brand image and continue producing organic, Differentiating itself from competitors by producing Fair Trade and bean-to-bar chocolate is very important to Theo's long-term success. Thus, Theo should continue to raise its consumer brand awareness and develop new markets...
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...(Customer-Based Brand Equity), which is based on consumer brand value model for their own brand building the key way. In this model. Various elements designed to be comprehensive, interrelated and feasible, but, CBBE model implies the premise that the brand is present in consumer brand knowledge, feeling and experience, that force is the brand name with a brand with the passage of time exists in the heads of all the consumer experience combined. Therefore, the purpose of the work enterprise is to try to ensure that consumers have for the brand characteristics of its products and services adapted to experience a positive act for the corporate marketing and a positive attitude and a positive brand image for the evaluation. In accordance with Keller's view, the model was created to answer the following two questions: First, what elements constitute a strong brand; the second is how to build a strong corporate brand. 1. According to CBBE model, build a strong brand requires the work of four steps: establish the right brand identity; create an appropriate brand meaning; guide the correct brand response; to create the appropriate relationship between the consumer of a brand. 2. Meanwhile, the four steps and relies on building the brand's six dimensions: significant; performance; image; evaluation; feeling; resonance. Which corresponds to a significant brand identity, brand performance and image of the corresponding content. Response to sensory evaluation and the corresponding brand and resonate...
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...Chapter 2 Customer-Based Brand Equity Overview This chapter defines the concept that is the focus of the book. Customer-based brand equity (CBBE) is the differential effect that brand knowledge has on consumer response to the marketing of that brand. Brand knowledge is a function of awareness, which relates to consumers’ ability to recognize or recall the brand, and image, which consists of consumers’ perceptions of and associations for the brand. Building awareness requires repeatedly exposing consumers to the brand as well as linking the brand in consumer memory to its product category and to purchase, usage and consumption situations. Creating a positive brand image requires establishing strong, favorable and unique associations for the brand. The chapter outlines the important contribution of brand knowledge to brand equity. Brand knowledge is composed of brand awareness, which is itself a function of recognition and recall, and brand image, which reflects the associations consumers hold for the brand in memory. Brand awareness is important because 1) it is a necessary condition for inclusion in the set of brands being considered for purchase, 2) in low-involvement decision settings it can be a sufficient condition for choice, and 3) it influences the nature and strength of associations that comprise the brand image. Awareness can be heightened by increasing consumer exposure to the brand and by linking the brand to product category, consumption and usage...
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...The Nature and Importance of Branding Busting a Myth • Strong brands are just as relevant in B2B and hi-tech markets as they are in B2C markets Logos taken from respective corporate websites 1 What is a Brand? • A brand is a strategic asset of a company, recognized by a unique name and/or symbol (logo, trademark, etc.), which identifies it’s source, and differentiates it from competition, and whose role is jointly determined – or co-created – by the actions of both the company and the customer What is a Brand? • A brand is a strategic asset of a company, recognized by a unique name and/or symbol (logo, trademark, etc.), which identifies it’s source, and differentiates it from competition, and whose role is jointly determined – or co-created – by the actions of both the company and the customer 2 Products are not Brands • A product is something a company makes in a factory… • A brand is something a customer buys… • A product can be copied…a brand is unique • A product can become obsolete…successful brands continuously reinvent themselves and have long lives… – Stephen King, WPP Group, London Why Brand? (Benefits of Branding) • Help condense, synthesize, and communicate value • To get noticed, to be remembered • To achieve resonance with customers’ needs, and create preference over competitive offerings • To build loyalty and lasting customer relationships • To serve as a platform for future growth 3 Immutable Laws...
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...Explain the Branding and Brand Management for companies marketing success. A brand can be defined as a seller’s promise to provide consistently a unique set of characteristics, advantages, and services to the buyers/consumers. It is a name, term, sign, symbol or a combination of all these planned to differentiate the goods/services of one seller or group of sellers from those of competitors. Some examples of well known brands are Mc Donald’s’, Mercedes-Benz, Sony, Coca Cola, etc. A brand connects the four crucial elements of an enterprise customers, employees, management and shareholders. Brand is nothing but an assortment of memories in customers mind. Brand represents values, ideas and even personality. It is a set of functional, emotional and rational associations and benefits which have occupied target market’s mind. Associations are nothing but the images and symbols associated with the brand or brand benefits, such as, The Nike Swoosh, The Nokia sound, etc. A strong brand is invaluable as the battle for customers intensifies day by day. It's important to spend time investing in researching, defining, and building your brand. After all your brands is the source of a promise to your consumer. It's a foundational piece in your marketing communication and one you do not want to be without. Brands with strong equity have many competitive advantages. * It provides high consumer awareness. For example, it is said “Vodka”, “Absolute” brand comes immediately in...
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...Because of the online-age, the interest in brand communities has boomed. Companies have begun to realize that consumers can co-create value, co-create competitive strategy and collaborate in the firm’s innovation process. So customers are not anymore separate and exogenous to the firm but on the contrary they should be included in the companies’ actions. One way to include customers and create collective value is to invest in brand community. Brand community is a community that is formed around some good or service and the brand is the one that keeps the community together and is the reason for it. Brand communities exist in the minds of people and there is shared understanding within the members. One of the most researched brand communities is Harley-Davidson. Other brand communities mentioned in the articles are for example Jeep, Apple Newton, Lomo and Holga, and Mini Cooper. Brand communities differ by many ways, some communities are closer to a company, some are more far away, in some communities members participate a lot and in some less, and the level on how much the company participates in the community differs a lot. Also the amount how much consumers can co-create value and collaborate in the firm’s innovation process differs between firms and communities. McAlexander’s et al. (2002) view on brand communities emphasizes the view of different kinds of relationships within a brand community. They state that “a brand community from a customer experiential perspective...
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...Building A Strong Brand: Brands and Branding Basics by Dave Dolak Background and introduction The word "brand", when used as a noun, can refer to a company name, a product name, or a unique identifier such as a logo or trademark. In a time before fences were used in ranching to keep one's cattle separate from other people's cattle, ranch owners branded, or marked, their cattle so they could later identify their herd as their own. The concept of branding also developed through the practices of craftsmen who wanted to place a mark or identifier on their work without detracting from the beauty of the piece. These craftsmen used their initials, a symbol, or another unique mark to identify their work and they usually put these marks in a low visibility place on the product. Not too long afterwards, high quality cattle and art became identifiable in consumers’ minds by particular symbols and marks. Consumers would actually seek out certain marks because they had associated those marks in their minds with tastier beef, higher quality pottery or furniture, sophisticated artwork, and overall better products. If the producer differentiated their product as superior in the mind of the consumer, then that producer's mark or brand came to represent superiority. Today's modern concept of branding grew out of the consumer packaged goods industry and the process of branding has come to include much, much more than just creating a way to identify a product or company. Branding...
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...How is building a brand in a business-to-business context different from doing so in the consumer market? Building a strong brand that is able to set a company apart from other business is always an important job. However depending on who the intended client is determines how the company will build their brand. A brand is defined as a name, term, sign, symbol, or design, or a combination of them , intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors. (Kotler, Keller, 2012) While many things in branding are the same, building a brand that supports brand to brand, B2B, or brand to customer, B2C, sales has slight differences. In an online article entitled, Focus Area, Business Market, B2C and B2B are compared. Here are a few of those comparisons: In the consumer market, every customer has equal value and represents a small percentage of revenue, products are the same for all customers-the service elements are low, and costs are restricted to purchase costs. In the business-to-business context, there are a small number of big customers that account for a large percentage of revenue, products are customized for different customers-service is highly valued, and purchase costs may be a small part of the total costs of use. These are just a few among many comparisons between business-to-business and consumer market. In B2B branding, a focus will be made on making a strong connection with the client business...
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...Brand Image in Cola Drinks CASE:Future Cola of Wahaha Group Co.Ltd,China Sun, Jianfei 2010 Laurea Leppävaara Laurea University of Applied Sciences Laurea Leppävaara Brand Image in Cola Drinks CASE: Future Cola of Wahaha Group Co.Ltd,China Jianfei Sun Degree Programme in Business Management Thesis April, 2010 Laurea University of Applied Sciences Laurea Leppävaara Degree Programme in Business Management International Business-to-Business Marketing Abstract Jianfei Sun Brand Image in Cola Drinks; Case: Futre Cola of Wahaha Group Co.Ltd, China Year 2010 Pages 45 In Chinese beverage market, there are three mainly cola brands, Coca cola, Pepsi and Future Cola, these three brand share almost 90% cola market, so that competition is omnipresent ,not only in the consumer market, but also very intensive in business to business market. Business-to-business brand building involves various aspects, for example, attributes of products and services, brand image, brand position, and B2B brand management, Wahaha Co., Ltd as a case company need to build brand image and find a solution on how to be a stronger brand in order to attract more potential customer. The theoretical context of this thesis lies in marketing management. The theoretical emphasis and framework is however in brand management: brand concepts, brand building and brand image. As the study is made in B2B environment the difference between B2B and consumer markets will be specified. The quantitative research...
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...16 The Paradox of Brand Community “Management” Brand communities, while “hot” and fundamental in the relationship interactive marketing age, are often seriously misunderstood. Located at the pinnacle of the loyalty continuum, true communities possess social structure and exhibit socialization processes. These sociological facts must be thoroughly understood by any manager who claims community goals for his or her brand. HarleyDavidson – frequently admired for its ability to generate an almost religious loyalty to its brand – has developed a deep appreciation of the power of brand communities that personally link consumers together and is eager to manage them successfully. The present article, evolved from the Harvard Business School study case on the Harley-Davidson “Posse Ride“, deals with the management challenges and tensions that may arise when building brand communities. Prof. Susan M. Fournier Visiting Associate Professor of Business Administration, Tuck School of Business at Dartmouth College, US-Hanover lic. sc. com Kathrin Sele Doctoral Candidate at the Institute of Marketing and Retailing at the University of St.Gallen, CH-St.Gallen Prof. Dr. Marcus Schögel Assistant Professor at the University of St.Gallen and Head of the Competence Center Distribution and Co-operation at the Institute of Marketing and Retailing, CH-St.Gallen 1. The Notion of Brand Community Harley Owners Group (HOG) and the Posse Ride In 1983 Vaughan Beals, member of the management...
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...C A S E S T U D Y 9 LENOVO’S BRAND BUILDING STRATEGIE: TAKING THE COMPETITION TO COMPETITORS WITH “TRANSACTIONAL MODEL” Agenda • Brief Summary about the case • Global PC Industry • Lenovo: From Emerging to Surging • Key Challenges of Lenovo from the case • RecommendaKons Agenda • Brief Summary about the case • Global PC Industry • Lenovo: From Emerging to Surging • Key Challenges of Lenovo from the case • RecommendaKons Overview of Global PC Industry Global PC Industry • Since early 1980s, PC industry has been the most dynamic electronic industry sector • The global PC industry reached mature level by mid-‐1990s • Dell and Gateway starts their build-‐to-‐order strategies, resulted to the total supply chain respond swiTly to change • Emerge of e-‐commerce (online sales) hastened PC industry’s clock speed Overview of Global PC Industry • PC-‐makers enjoys high profits ...
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...eARTICL BRAND PLANNING by Kevin Lane Keller < CONTENTS PAGE E eARTICL BRAND PLANNING by Kevin Lane Keller E. B. Osborn Professor of Marketing Tuck School of Business Dartmouth College A Shoulders of Giants p ublication info@SOGiants.com | w ww.SOGiants.com E Published by Shoulder of Giants info@SOGiants.com All text © Shoulder of Giants 2009 The work (as defined below) is provided under the terms of the Creative Commons Public License. The work is protected by copyright and/or other applicable law. Any use of the work other than as authorized under this license or copyright law is prohibited. In terms of this copyright you are free to share, to copy, distribute and transmit the work under the following conditions: Attribution – You must attribute the work in the manner specified by the author or licensor Noncommercial – You may not use this work for commercial purposes. No Derivative Works – You may not alter, transform, or build upon this work. For any reuse or distribution, please see the Full License Terms of this work. CONTENTS This is a free eArticle based on the eBook and video of Brand Planning. It offers key points from the full title – giving you the ability to learn something new about this business topic in just a few minutes while discovering how to get even more from the full length versions. INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 1. BRAND POSITIONING...
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...LITERATURE REVIEW WHAT IS A BRAND? Branding is a discipline that has emerged from the consumer goods domain particularly fast moving consumer goods. Historically, brand has been inextricably linked to the product and branding is seen as the process of adding value to the product. A brand is a cluster of functional and emotional benefits that extend a unique and welcomed promise. This conceptualisation of a brand is universal and applies to various domains including FMCG, internet services and B2B. What changes in every context is the enactment of the brand. It is argued that the concept of a brand is universal, however some adjustments are required in line with the specific context applied; in this case the B2B context. Branding has myopically been viewed by business marketers as largely irrelevant to business markets. Associated mostly with emotional value, branding was believed to offer very little to what is traditionally considered a very rational process i.e. the organisational decision making process. More recent research acknowledges that despite the differences between B2C and B2B contexts both B2C and B2B brands need to engender trust and develop both cognitive and affective ties with stakeholders. THE BENEFITS OF BRANDING IN INDUSTRIAL MARKETS Branding in an industrial market must be perceived to convey benefits to various stakeholders for companies to financially invest in it. With regard to the company investing in branding a number of benefits have been identified...
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