Submitted by: Submitted by tmon
Views: 495
Words: 657
Pages: 3
Category: Business and Industry
Date Submitted: 02/01/2011 06:04 PM
BRAND MANAGEMENT
What is a Brand?
• Predictive level of quality expected from a supplier is a brand
• Making a mistake is expected, however, reaction to the mistake and addressing the consequences of the mistake make the brand stronger; not making mistakes in the fist place
• Segmentation is crucial in brand management
• Escalate the brand in terms of image (status) as well as function
• In 1865 Ivory soap developed by now P&G – they used modern communications to directly communicate with consumers (over passed retailers and wholesalers)
• Consistency of the formula of building a brand and communicating with the consumers (brand leaders of 1925 managed this technique very well and many have survived thus far)
• McDonald’s transformed erratic service into consistent delivery of customer service and customer delivery – predictable delivery of customer service
• A Brand is “a promise of benefits consistently delivered with the highest level of satisfaction versus direct and indirect competitors”
• No one cares about features, only if they deliver value and benefit to the customer
Customer Based Brand Equity
Rules of brand names
1. Make sure it doesn’t translate badly (rude or meaningless) in other languages
2. Make it protect-able in law – unique and distinctive offering, protect it
3. In English and French, tend to make it shorter
• Brand names don’t matter, it’s the connected to the brand that matters
• Branding means what you think it to mean
• Royal Bank changed logo but called it re-branding, lion to the left now looking to the right – do not call it re-branding! Logo is important, must be up to date, nice to have magical meaning to it but it’s not the brand
What makes a brand?
Name, Company, Logo/Symbol, Physical space/design, Product (design + performance), Employees, Service, Guarantee, Distributor reputation/display, Price, PR/Publicity, Consumer Promotion,...