Brand Management Class

Brand Management: Class 2

How to Build strong brands?

1. Recap Class 1

Emotional benefits have a lot to do with people choosing brands. Emotions and feelings and friendship become extremely important to consumers when they pick and choose their favorite brands.

* The power of emotional elements and benefits that contribute to the strength of a brand.

* Remember a brand is difficult: Remember the barriers.

* Strong brands make a connection with people and communicate a distinct advantage.

* A strong band is when it has the trust of consumers. It-s the one who can generate the most trust, loyalty.

2.1. Brand Strength

Gainers | Losers |

* Innovation * Emotional connection * Invest in marketing usually to launch new products o band campaigns * Strong value proposition | * Not in tune with consumer attitudes or lack of demand creation * Unclear brand identity or value proposition * Lack of investment * Lack of focus and straying from core |

Sales Formation Models

2. Examples of Sales Formation Models

Models | Uses | Examples |

Trial Repeat(behavioral) | predictive and diagnostic tool of sales (marketing mix issues) | Johnson Wax and Sun Chips |

Hierarchy-of-Effects(attitudinal) | understand how consumers learn to buy your product; diagnostic for share/sales issues | Millward Brown |

Diffusion of Innovations(new products) | theoretical phasing framework to product adoption | Geoffrey Moore |

Model: Way of look at something that will give you some insight to take some decisions. Can be quantitative and qualitative and help you to take better decisions.

They are predictive model but don’t tell you the answers.

* Diagnostic tools to aid measurement and/or allow for deductive estimates of market performance

* Quantitative and Qualitative

* No model is ever 100% definitive; requires human interaction

* Different models may yield different results for the same issue...