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A/P Sharon Ng
(Office: S3-B2C-88
Phone: 6790 4898)
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Evolution status and physical attractivenessenables greater access to resources. The besthunters get most meat and more wives
Animal kingdom - alpha male gets more wivesand food
In modern world, status and attractivenessprovides. Emotional payoff (feels good) and social currency
Financial reward
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Deep down, everyone wants a little morestatus, nice image
Need for recognition, need for acceptance
Brands are the means to gain acceptance insocial groups
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I am rich and successful ! I have good taste!
I am unique and rebellious !
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The art of marketing is the art of brandbuilding. If you are not a brand, you are acommodity. Then price is everything and thelow-cost producer is the only winner
PhilipKotler
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Brand act as a prism to affect how you perceiveproducts and services !
Product/Service Brand Perception
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A cognitive bias Tendency to generalize global affective
feelings or trait to other objects or attributes
Humans are cognitive misers
Observed in all aspects of business Performance evaluation
Job interview
Celebrity endorsement
Students grading Product evaluation
E.g., organic food
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In brand, halo effect refers to the positive biasconsumers exhibit towards a brand because ofprior favorable experience with the brand or
overall impression of the brand Driven by brand equity!
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E.g., name, logo, trademarks, packaging, taglines These enable the customers to identify the brand
But these are just the visual elements of the brand
Having these does not = branding
Common misperception
It is the totality of customer experiences
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Product Brand
A physical thingmade in factory
An object
Sold by the company
Can be easily copied
Can be quicklyoutdated
Made up of trust andrelationship
A personality Bought by a
customer Unique, not easily
copied Timeless
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Emotional connection between the companyand the consumers
Success in getting consumers attention,imagination and emotion
Shows the one is different and better than therest
The price differential one is willing to pay
It is something that resides in the minds ofconsumer
A perceptual reality
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Give consumers a labelfor the product (howto identify the product)
Provide meaningfor consumers (why it isspecial and what it can do for them)
Help create mental structures for consumers
to organize their knowledge
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Ultimately a brand is something that resides in theminds of consumers.
The key to branding is that consumers perceive
differences among brands in a product category.
Even commodities can be branded:
Bananas
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Branding in Asia
YOU !!!
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What are the common elements across all these brands?Which is the most improved brand?Which brand is losing traction?
Asian brands?
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Why is branding important?
Value to
consumers
Value to
firms
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Identification of source of product
Assignment of responsibility to firm
Risk reducer
Search cost reducer
Symbolic device
Signal of quality
http://images.google.com.sg/imgres?imgurl=http://www.purseblog.com/images/louis-vuitton-neverfull.jpg&imgrefurl=http://www.purseblog.com/louis-vuitton/louis-vuitton-neverfull-gm-mm-pm.html&usg=__UKRn78sWwv5fWkml3LZGtflkBXY=&h=335&w=349&sz=32&hl=en&start=1&um=1&itbs=1&tbnid=L008giaziIW8-M:&tbnh=115&tbnw=120&prev=/images?q=louis+vuitton&um=1&hl=en&sa=N&tbs=isch:17/25/2019 Introduction to Branding 2014 PDF
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Means of identification to simplify handling or
tracing
Means of legally protecting unique features
Signal of quality to customers
Means of endowing products with unique
associations
Source of competitive advantage / means of
differentiating products
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Ability to charge a premium for products
Form of intangible assets / economic returns
Ability to command loyalty from customers
http://images.google.com.sg/imgres?imgurl=http://ceoworld.biz/ceo/wp-content/uploads/2009/07/harley-davidson.jpeg&imgrefurl=http://ceoworld.biz/ceo/tag/financial-services&usg=__uDATjj9m7tqAwBMSod57mmJGxb4=&h=830&w=939&sz=119&hl=en&start=5&um=1&itbs=1&tbnid=D_bxWTizBaDCvM:&tbnh=131&tbnw=148&prev=/images?q=harley+davidson&um=1&hl=en&tbs=isch:1http://images.google.com.sg/imgres?imgurl=http://weblogs.baltimoresun.com/business/consuminginterests/blog/apple-logo1.jpg&imgrefurl=http://weblogs.baltimoresun.com/business/consuminginterests/blog/technology/&usg=__ZRYiHpjAeWfxq74V5CGJfAEt_Dk=&h=480&w=397&sz=22&hl=en&start=1&um=1&itbs=1&tbnid=HhYIr-Oz_5sLkM:&tbnh=129&tbnw=107&prev=/images?q=apple&um=1&hl=en&tbs=isch:1http://images.google.com.sg/imgres?imgurl=http://www.generalmills.com/corporate/company/international/images/med_res_packaging/TAI_HD.gif&imgrefurl=http://www.generalmills.com/corporate/company/international/taiwan.aspx&usg=__cZ2p2GiAzooIZe0NE9RIfNR2nO8=&h=489&w=500&sz=102&hl=en&start=1&um=1&itbs=1&tbnid=YEhCMhjz56zcJM:&tbnh=127&tbnw=130&prev=/images?q=haagen+dazs+ice+cream&um=1&hl=en&tbs=isch:1http://images.google.com.sg/imgres?imgurl=http://www.globalgiants.com/archives/media/MontBlanc.jpg&imgrefurl=http://www.globalgiants.com/archives/2006/01/&usg=__OkLc5MOgEcAPmwiR3PmzadxEi4U=&h=315&w=321&sz=13&hl=en&start=1&um=1&itbs=1&tbnid=qCXRkspXmX4rnM:&tbnh=116&tbnw=118&prev=/images?q=mont+blanc+pen&um=1&hl=en&tbs=isch:1http://images.google.com.sg/imgres?imgurl=http://www.pursepage.com/wp-content/uploads/2006/10/gucci_scarf_tote_bag.jpg&imgrefurl=http://www.pursepage.com/gucci-handbags/gucci-scarf-tote-bag.html&usg=__VnybQpXzf2uBb8YwpFtzAVTaV7U=&h=300&w=300&sz=19&hl=en&start=10&um=1&itbs=1&tbnid=q-i51vHDEzXxyM:&tbnh=116&tbnw=116&prev=/images?q=gucci&um=1&hl=en&tbs=isch:17/25/2019 Introduction to Branding 2014 PDF
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A brand can serve many purposes and
every company uses it differently.
Coke does not really command a
Premium but it commands loyalty.
Apple has a cult following.
Some cheaper brands just use brands to make iteasier for companies to identify with them.
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Especially Asian companies (though this ischanging)
Branding takes time and money May take a long time before effect is obvious
Need to be willing to invest resources to brand buildingactivities
Does not mean only rich and big companies can and shoulddo branding
Even small companies can do it (e.g., SMEs)
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Sounds easy
enough.
Everyone shouldbe able to do it !
BUT out of every brand that succeeds,
there are 10 others that fail !
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CommonProblems
Focus oncost
Branding
philosophynot
internalized
Mismatchbetween
brand vision& co reality
Brandelements =Branding
Consistency
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Corporate
Strategy
Internal
Branding
Product
and
Service
Design
Brand
Identity
r
a
n
d
S
t
r
a
t
e
g
y
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Savvy customers
Brand Proliferation / Clutter
Piracy
Rapid environmental changes
Internet/technology
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Greater attention and focus on branding Especially in Asia
Awareness that simply selling is not enough
Firms looking for branding experts Increasing number of brand consultancy firms
Govt push for greater branding knowledge in SME
Boom in online and mobile purchase
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Introduce the different aspects of branding
Insights into how brand equity may be managedand leveraged
Enhance your understanding of brand managementand related branding strategies and the interactionwith the whole organization
Analysis of actual problems companies face
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Brand equity
What is it
How do you build positive equity
How do you measure it
Brand Leverage
Brand Extensions
Brand feedback effect
Managing brand over time and cultures
Brand revitalization
Branding across cultures
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Who are you?
What people need toknow about you?
Who needs to know?
How will they know?
Why should they care?
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So it is not whether branding is
important, it is HOW you should do it.
This course will cover the theories andfindings on branding.
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Strategic Brand Management
Process
Mental maps
Competitive frame of reference
Points-of-parity and points-of-difference
Core brand values
Brand mantra
Mixing and matching of brand elements
Integrating brand marketing activities
Leveraging of secondary associations
Brand value chain
Brand auditsBrand tracking
Brand equity management system
Brand-product matrix
Brand portfolios and hierarchies
Brand expansion strategies
Brand reinforcement and revitalization
Key ConceptsSteps
Grow and sustain
brand equity
Identify and establish
brand positioning and values
Plan and implement
brand marketing programs
Measure and interpretbrand performance
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1. A companys management of a brand is typicallythe determining factor in the ultimate success orfailure of the brand.
2. Brands have differentiating features thatdistinguish them from competitors and add valuefor consumers.
3. Consumers often dont buy products, they buythe images associated with products
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First half Lecture (about 1 hour) Group discussion + Break (40 min)
In class discussion/presentation (1 hour)
Textbook: Keller, Kevin Lane (2007) Strategic BrandManagement: Building. Measuring, and ManagingBrand Equity, 3rdedition, New Jersey, U.S.A.:Prentice Hall
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Component % Format
Brand Audit 25% Group
Brand Promotion Assignment 20% Group
Class participation 15% Individual
Exam 40% Individual
Total 100%
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Brand audit (25%)
A major component of this course
Objective - to get you to understand how to assessa brands source of equity and suggest ways toimprove and leverage on that equity
Choose a brand
Each team a different brand (First come first serve)
Do your own research about the brand
Primary and Secondary Data
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Part I Brand Analysis Firms current branding strategies
Competitors
Customers
Brand awareness level, associations, extensionsetc
Part II Recommendations
E.g., what should the brand do to grow orrevitalize itself
Markets to enter? Exit? Change in positioning? etc
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Let me know brand chosen by the end of thissession.
No written report needed
Presentation during the last 3 weeks of the term
45 min for presentation and 15 min for Q&A
Assess both style and content
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Assume role of brand consultant Assess market for a new product
Recommend branding strategy
Due 26 Sept 2014
Only report to be submitted. No presentationsrequired.
15 A-4 pages, 1.5 spaced, 12 pt Times New Roman(excluding any appendices)
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Every week, you learn a small part of branding At the end of the term, hopefully you will be able to
put all these knowledge together and have a goodunderstanding of branding issues
Demonstrate you see the big picture. Imagine you arethe companys consultant. What would you do?
Show independent thoughts.
Put forth your argument.
Substantiateit. Dont just say e.g., theatreadvertising is good. Say why it is good. Givereasons, give rationale, provide a well thought outanswer.
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Provide a balanceviewpoint. Logical flow in yourthought process.
Look at both the strategic and operational issues
E.g., how will the strategy affect companys
growth and expansion in the long term ? Impacton customers relationship? How will it affectbrand equity?
Operationally, what other considerations need tobe taken into account?
Cost? Companies commitment?
Sufficient resources e.g., manpower to implementstrategies?
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For the assignments: Research secondary information
Primary data (optional)
Key is to be able to convince me you have thoughtthis through and your position is backed by goodlogic and explanation
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Silence handphone in class
Punctuality
Uploading of lecture notes, course outline, etc.
Announcements: please check every week
Peer Review
Reference materials. Purchase cases from UPO counter.
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Any questions?
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Take a 15 min break
Get into your groups. Discuss which brand your groupwould like to do for the brand audit.
Do some research on the potential brands to know howyou intend to scope the audit.
Let me know which brand your group has chosen by the
end of the class. First come first serve.