Corporate Image and Brand Management

OUTLINE
Corporate Image Roles
Consumer role B2B role Corporate role

Promoting Desired Image

Components of a Corporate Image

Tangibles
Goods and services

Intangibles
Corporate, personnel, and environmental policies

Retail outlets (sale)

Factories (produce)

Ideals and beliefs of corporate personnel

Culture of country and location of company

Communication media: ads, promos, literature, docs

Name/Logo Packaging & Labeling Employees

Media reports

Corp. Image Role consumers view

Assurance of familiar products
(e.g. Coke)

Assurance of familiar company

(e.g. IBM)

Reduction of purchase research time Psychological reinforcement & social acceptance

Corp. Image RoleB2B view

Reduce feelings of risk Reduce search time Psychological reinforcement & social acceptance

Corp. Image Role corporations view (self-view)

Extends +ve consumer feelings to new products Enables higher pricing Enables increased repeat buying Endorses +ve W.O.M. Attracts quality employees Increased financial viability as ranked by analysts and corp. raters

Promoting Desired Image

1. Image must accurately portray firm and coincide with products and services sold. 2. Easier to re-enforce or rejuvenate than it is to change well-established
(e.g. New Coke vs. Coke Classic)

3. Difficult to next to impossible to develop new image

(sometimes divorce and/or new company is easier)

4. Recovering from ve or bad press happens fast (overnight) building/rebuilding can take years!

Branding

discovering why consumers buy a brand Most compelling Benefits? Emotions elicited by the brand? One-word encapsulation? Importance to customers?

Packaging
What do they say to us?

Packaging
Same? What do they say differently to us?

Brand Equity
Brand equity has been also defined as: The component of overall preference not explained by objectively measured attributes; and The set of consumer associations & behaviours that permits the brand to earn greater volume or margins than it could without the brand name.
,

Brand Equity
Brand image is everything. It is the sum of all

tangible & intangible traits the ideas, beliefs, values, prejudices, interests, features & ancestry that make it unique. A brand image visually & collectively represents all internal & external characteristics the name, symbol, packaging, literature, signs, vehicles & culture. It's anything & everything that influences how a brand or a company is perceived by target constituencies or even a single customer.

Brand Extensions and Flanker Brands

Brand Extension
Use established brand name for unrelated goods and services
(reaching new markets with new product lines)

Flanker Brand
Develop a new brand within a related product category
(increase market mix to reach new target segments)

Co-Branding
Ingredient branding
Intel inside -- compaq

Cooperative branding
Joint venture e.g.: Citbank, Mastercard card with points offer. (Indian oil/maruti)

Complementary branding
Encourage co-consumption of more than one brand (Prasads and coke, haleem and coke)

Private Brands
Exclusive lines Used to be higher priced now lower priced Use to have higher quality perception now not always Retail loyalty up but brand loyalty down E.g Harley Davidson Bikes

Positioning
The process of creating a perception in the consumers mind regarding the nature of a company and its products relative to the competition
(Clow & Blaack, p. 48)

7 ways to achieve effective positioning:

POSITIONING

THANKS!