Concept of Brand Management

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Concept of Brand Management
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What is a Product?
All the augmentations and transformations that a
product might ultimately undergo in the future
Additional product attributes, benefits, or
related services that distinguish the product
from competitors
Attributes and Characteristics that buyers
normally expect and agree to when they purchase a
product
Basic Version of the product containing only
those elements absolutely necessary to function.
No distinguishing features.
The Fundamental Need or Want that consumers
satisfy by consuming the product or service
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But what really do people buy?

• Customers buy hopeful expectations, not actual
  things.
• Feelings are more important than feeling.
• How we feel about a car is more important than
  how the car feels.
• When we consider that in the most important
  decisions of life, like marriage, we mostly
  decide on the basis of not the cold figures in
  our intendeds balance sheet but upon our warm
  feelings about our intendeds figure.
• Theodore Levitt

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What is a Brand?

• Derive from word brandr which means to burn
• AMA, a brand is name, term, sign, symbol, or
  design, or combination of all ,intended to
  identify the goods and services of one seller or
  group of sellers to differentiate them from
  competitors

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What is a Brand?

• Product Commodity
• A product is a produced item always possessing
  these characteristics
• Tangibility
• Attributes and Features

Brand Mind Set The sum of all communications
and experiences received by the consumer and
customer resulting in a distinctive image in
their mind set based on perceived emotional and
functional benefits.
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What is a brand?

• A brand is not a thing ,a product, a company or
  an organization.
• It does not exist in physical world
• It is a mental construction
• It the sum of human experiences, perceptions and
  feeling about a particular thing, product or
  organization

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What is a brand?

• It is not a icon , a slogan or a mission
  statement
• It is a promise-a promise you can keep
• Great brands have strong emotional connections to
  their users

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LOGO TEST
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LOGO TEST
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Why Does A Brand Matter?

• MANUFACTURERS
• ID to simplify handling or tracing
• Legal protection of unique features
• Signal of quality level to satisfied customers
• Means of endowing products w/unique associations
• Competitive Advantage
• Financial Returns

• CONSUMERS
• ID Product Source
• Assignment of responsibility to maker
• Risk reducer
• Search cost reducer
• Promise, bond, or pact w/make of product
• Symbolic Device
• Signal of Quality

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Branding

• Pretty much everything today can be seen in
  relation to a love-respect axis. You can plot any
  relationship with a person, with a brand by
  whether its based on love or based on respect.
  It used to be that a high respect rating would
  win. But these days, a high love rating wins. If
  I dont love what youre offering me, Im not
  even interested.
• - Kevin Roberts, Saatchi and Saatchi

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What is Brand Management?

• Brand Primitive God
• If we keep its laws
• And pay regularly the tributes due (mainly
  advertising), fortune will smile on us
  otherwise, disaster.

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Essence of Brand Management

• PRODUCT Body
• BRAND Mindset
• EQUITY Roots
• ESSENCE Brands Soul
• VISION Brands DNA

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BAJAJ BRAND

• Product Motorcycle
• Brand Trend setter in design, RD, new
  models and marketing
• Brand essence "Excitement".
• Brand Vision Learning, Innovation, Perfection,
  Speed and Transparency.

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Strategic Brand Management

• Strategic brand management involves the design
  and implementation of marketing programs and
  activities to build, measure, and manage brand
  equity.

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BRAND MANAGEMENT PYRAMID
RESONANCE
JUDGMENTS
FEELINGS
PERFORMANCE
IMAGERY
SALIENCE
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Dimensions of LUX SOAP Pyramid

• Six Packs - Loyalty
• Contests
• Promotional Offers

• Unmatched bathing
• Experience
• Brings Out the star
• in you

• HLL Quality
• Credibility - Heritage of 75 years
• Brand Endorsers

• Beauty Aspirants
• Everyday Beautiful Complexion
• Glamorous, Feminine Beauty
• Beauty Soap of Filmstar for 75 years
• Filmstar is Numero Uno Star if Brand Endorser

• Bath Soap
• Perfume
• Moisturizing
• Economical
• Stylish Package
• Celebrities on Pack
• Variants satisfy diff needs

BATH SOAP Cosmetic Appeal
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Salience Dimensions

• Depth of brand awareness
• Ease of recognition recall
• Strength clarity of category membership
• Breadth of brand awareness
• Purchase consideration
• Consumption consideration

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Performance Dimensions

• Primary characteristics supplementary features
• Product reliability, durability, and
  serviceability
• Service effectiveness, efficiency, and empathy
• Style and design
• Price

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Imagery Dimensions

• User profiles
• Demographic psychographic characteristics
• Actual or aspirational
• Group perceptions -- popularity
• Purchase usage situations
• Type of channel, specific stores, ease of
  purchase
• Time (day, week, month, year, etc.), location,
  and context of usage
• Personality values
• Sincerity, excitement, competence,
  sophistication, ruggedness
• History, heritage, experiences
• Nostalgia
• Memories

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Judgment Dimensions

• Brand quality
• Value
• Satisfaction
• Brand credibility
• Expertise
• Trustworthiness
• Likability
• Brand consideration
• Relevance
• Brand superiority
• Differentiation

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Feelings Dimensions

• Warmth
• Fun
• Excitement
• Security
• Social approval
• Self-respect

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Resonance Dimensions

• Behavioral loyalty
• Frequency and amount of repeat purchases
• Attitudinal attachment
• Love brand (favorite possessions a little
  pleasure)
• Proud of brand
• Sense of community
• Kinship
• Affiliation
• Active engagement
• Seek information
• Join club
• Visit web site, chat rooms

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STRATEGIC BRAND MANAGEMENT

• Competitive Frame of Reference
• Core Brand Values
• Brand Mantra
• Points of Parity
• Points of Difference

Identify and establish Brand Positioning and Value
Brand Elements Integrate marketing activities
Plan And Implement Brand Program
Measure Brand Performance
Brand Tracking Brand Audits Brand Equity
Management
Grow and Sustain Brand Equity
Brand Expansion Brand Revitalization Brand
Portfolio
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BRAND PROMISE
A BRAND PROMISE IS SUPPORTED BY
  POSITIONING Determining What You Want Your
Promise to Be   COMMUNICATION Creating an
Expectation in the Customers Mind of What the
Promise Is   OPERATIONS Delivering the Promise
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Insights Creating a winning brand
Creating a wining brand
Consumers Insight to shape Differentiated
functional And emotional end benefits
Category Insight into areas of Product
Category benefits
Competitors Insight into areas of Competitive
advantage
Insight into shaping A relevant value
proposition
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What are insights

• An insight is a deep and fundamental
  understanding of your product, consumer, customer
  and competition that unlocks an opportunity to
  win

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What are these insights

• Identifying the unmet needs

• Cause of this disconnect

• Desired functional and emotional end benefits

• Competitive weaknesses

• Strength of the brand

• Key barriers and motivators that drive behavior

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Which insights to act upon

• Identifying the impactful insights

• Simple

• Relevant

• Memorable

• Behaviour modifying

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What does these insights drive

• Shape and expand our categories

• Better brand differentiation

• Enhance customer value proposition

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Category Insights

• The domestic skin-lightening cream industry is
  valued at over 190m - a strong indicator of the
  great Indian obsession with fair skin.
• India's rulers have always been fair, be it the
  Aryans in the early centuries or Europeans in
  later years.
• Fairness is equated with superiority, power and
  influence, therefore the preference for lighter
  skin.
• Men account for about 25 per cent of fairness
  cream use across the country

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Competitor Insights
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Customer Insights

• Men are no longer shy of admitting they want to
  look good.
• Evolving concept of metrosexual man
• Increasing visits of men to beauty salon
• Increased exposure to international beauty,
  fashion and lifestyle trends has created beauty
  aspirations

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Customer Insights

• As Man's Skin is
•  3 times more exposed to sun's UV rays.
•  5 times more exposed to pollution.
•  2 times more exposed to stress factors.
•  Daily exposed to the harshness of blades.
• Men need specific Fairness Cream for them.

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Customer Value Proposition
Value Proposition Men need specific fairness
cream to feel proud and confident
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Winning Brand

• Fair and Handsome clocked sales of Rs 16 crore
  in the first 11 months of its launch and is
  expected to generate as much as Rs 65-70 crore in
  the current fiscal year.

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BRAND CRITICAL SUCCESS FACTORS
CORE BRAND VALUES- ATTRIBUTES/
BENEFITS   BRAND MANTRA BRAND
DNA   BRAND ASSOCIATIONS ENDORSER, AWARDS,
EVENTS, COMPANY,
CHARACTERS, GEOGRAPHY   BRAND ELEMENTS
NAME, SYMBOL,LOGO,
SLOGAN,
PACKAGING   BRAND VALUE CHAIN   INTEGRATED
MARKETING
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CHALLENGES IN BRANDING

• SAVVY CUSTOMERS
• COMPLEX BRAND PORTFOLIOS
• MATURING MARKETS
• INCREASED COMPETITION
• DIFFICULTY IN DIFFERENTIATING
• DECREASING BRAND LOYALTY
• GROWTH OF PRIVATE LABELS
• INCREASING TRADE POWER
• FRAGMENTING MEDIA COVERAGE
• ERODING MEDIA EFFECTIVENESS
• INCREASING MARKETING COSTS
• INCREASING PRODUCT INTROD COST

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KEY TO BRAND SUCCESS

• VISION OF THE MARKET
• MANAGERIAL PERSISITENCE
• FINANCIAL COMMITMENT
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• RELENTLESS INNOVATION
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• ASSET LEVERAGE

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