Brand management lecture

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Discussion is important lee Is setup – Not time-dependent – A good record for later revision (24/7) – Try out mad ideas! Respond to each other – Post messages, read messages, talk about them in class Get input from fellow students and staff outside class times – Doing well in this subject requires understanding, not Just rote learning – so the more discussion the better Exam questions? 0 Exams aren’t fun but we have to have them 0 Reduce the terror – write questions yourselves! 0 Get feedback, clarify your thinking…

Defining brand 0 De Coherently and doll’s Riley (1999): “a multidimensional construct whereby managers augment products or services (offerings) with values and this facilitates the process by which consumers infidelity recognize and appreciate those values” 4 Defining “brand” (2) 0 Keller (2003): “A brand is a name, term, sign, symbol, or design which is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors” Brand Elements 0 Different components that identifies and differentiates a brand – Name, logo, symbol, package design, or other characteristic 0 Can be based on people, places, things, and abstract images Brand versus Product Brand Product Has dimensions that differentiate it in

Anything available in the market for use some way from other products designed or consumption, that may satisfy a need to stalest ten same n or want Can be differentiated on the basis of: Packaging Services provided Customer advice Financing Delivery arrangements Warehousing Other things valued by the customers Can be categorized into five levels namely: Core benefit level Generic product level Expected product level Augmented product level Potential product level 5 New Branding Challenges 0 Brands are important as ever Consumers need more simplification than ever 0 Consumers need more risk reduction than ever 0 Brand management is as difficult as ever – Savvy consumers – Increased competition – Decreased effectiveness of traditional marketing tools – Emergence of new marketing tools

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