Brand Elements

Brand Elements
Brand names Slogans
Elements

URLs

Logos

Characters

Symbols

Brand Element Choice Criteria

Memorable--recall and recognized Meaningful--credible Likeability--aesthetically appealing Transferable--introduce new product Adaptable--updatable Protectable-- legality

Designing Holistic Marketing Activities

Personalizationbrand and its marketing are as relevant as possible to as many customers as possible

Designing Holistic Marketing Activities

Integrationmixing and matching marketing activities to maximize their individual and collective effects (e.g., Olive Garden).

Designing Holistic Marketing Activities Internalizationactivities and processes that help inform and inspire employees.

Internal Branding
Choose the right momentturning points and ideal opportunities (e.g., British Petroleum repositioning to Beyond Petroleum) BP: Forget Your Brand Image and Concentrate on Your Brand's Soul Thu May 6, 2010

Internal Branding
Link internal and external marketing messages must match internal and external campaigns (e.g., IBM to become a leader in the used of internet technology)

Measuring Brand Equity

Brand Auditsassess health of brand, uncover sources of brand equity, ways to improve Brand Trackingbaseline information about brands and marketing information Brand Valuationestimation of total financial value of the brand

9-9

Managing Brand Equity

Brand Reinforcement meaning of the brand Brand Revitalizationretain same or create new positioning Brand Crises
9-10

Interbrands Steps in Calculating Brand Equity

Market segmentationdivide into mutually exclusive segments Financial analysisearnings attributed to the intangible assets of the business Role of brandingdegree that the brand directly influences drivers of demand Brand strengthlikelihood that the brand will realize forecast earnings Brand value calculationnet present value of the forecast brand earnings; discounted by the brand discount rate
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Devising a Branding Strategy

Develop new brand elements

Apply existing brand elements

Use a combination of old and new

9-12

Branding Terms
Brand lineall products Brand mixset of all brand lines made available to buyers

Brand extensionestablished brand used to introduce a new brand (Hershey Kisses)

Sub-brandcombine a new brand with an existing brand (American Express Blue Cards)

Parent brandexisting brand that give birth to a brand extension or sub-brand

Family brandparent brand that is associated with multiple products through extensions (Kraft)

Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall

Line extensionparent brand covers a new product within a product categories it currently serves (Dannon yogurt introduced new favors)

Honda automobiles, motorcycles, snow- blowers)

Copyright 2009 Pearson Education, Inc. Publishing as Prentice Hall

Branded variantsspecific brand lines supplied to specific retailers or distribution channels (low and high end cameras)

Licensed productbrand names that had been licensed to other manufacturers to make the product (franchises)

Brand dilutionoccurs when consumers no longer associate a brand with a specific product or highly similar products and start thinking less of the brand

Brand portfolioset of all brands and brand lines a particular firm offers for sale in a particular category or market segment

Apple
iMac
eMac iMac Mac mini

MacBook
MacBook

iPod

Apple TV iPhone iPod Touch MacBook Pro iPod nano

iPod Classic
iPod shuffle

Brand Naming
Individual names (e.g., General MillsBisquick, Gold Meal Flour)

Blanket family names (e.g., Heinz, General Electric)

Separate family names (e.g., Sears uses Kenmore, Craftsman)

Corporate names with individual product names (e.g., Kelloggs Rice

Reasons for Brand Portfolios

Increasing shelf presence and retailer dependence in the store Attracting consumers seeking variety Increasing internal competition within the firm Yielding economies of scale in advertising, sales, merchandising, and distribution