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BRANDING ANDBRANDING AND
MARKETING PROMOTIONMARKETING PROMOTIONSTRATEGIES (Part I)STRATEGIES (Part I)
Core Text:
³Strategic Brand Management´by
Kevin Lane Keller (2nd Edition)
Presented by:
PROF. HIMMAT ADISARE
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BRANDS AND BRANDBRANDS AND BRANDMANAGEMENTMANAGEMENT
Ref: Chapter 1 of Core Text
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What is a Brand?What is a Brand?
Definition: ³A brand is a product that
adds other dimensions that differentiates
it in some way from other products
designed to satisfy the same need.´
Ref: Chapter 1 of Core Text
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Why Do Brands Matter?Why Do Brands Matter?
CONSUMERS:
Identification of
Source of Product
Assignment of
Responsibility to
Product Maker Risk Reducer
Search cost Reducer
Promise, Bond, orPact with Maker of
Product
Symbolic Device
Signal of Quality
Ref: Chapter 1 of Core Text
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Why Do Brands Matter? (2)Why Do Brands Matter? (2)
MANUFACTURERS:
Means of Identification
to Simplify Handling orTracing
Means of Legally
Protecting Unique
Features
Signal of Quality Level
to Satisfied Customers
Means of EndowingProducts with Unique
Associations
Source of Competitive
Advantage
Source of Financial
Returns
Ref: Chapter 1 of Core Text
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Can Anything Be BrandedC
an Anything Be Branded??
Physical Goods
Services
Retailers and
Distributors
Online Products
and Services
People and
Organizations
Sports, Art and
Entertainment
Geographic
Locations
Ideas and Causes
Ref: Chapter 1 of Core Text
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Branding Challenges AndBranding Challenges And
OpportunitiesOpportunities
Savvy Customers
Brand Proliferation
Media Fragmentation
Increased Competition
Increased CostsGreater Accountability
Ref: Chapter 1 of Core Text
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The Brand Equity ConceptThe Brand Equity Concept
Basic Principles of Branding and BrandEquity:
Differences in outcomes arise from the ³added value´ endowed to a product as a result of past marketing
activity for the brand . This value for a brand can be created in many different
ways.
Brand equity provides a common denominator for interpreting marketing strategies and assessing the valueof a brand.
There are many different ways in which the value of abrand can be manifested or exploited to benefit the firm.
Ref: Chapter 1 of Core Text
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Strategic Brand ManagementStrategic Brand Management
ProcessProcess
Identifying and Establishing Brand
Positioning and Values
Planning and Implementing Brand
Marketing Programs
Measuring and Interpreting Brand
Performance
Growing and Sustaining Brand Equity
Ref: Chapter 1 of Core Text
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CUSTOMER
CUSTOMER--BASED BRANDBASED BRANDEQUITYEQUITY
Ref: Chapter 2 of Core Text
CHAPTER 2
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Sources Of Brand EquitySources Of Brand Equity
Brand Awareness
Consequences of
Brand Awareness
Learning advantages
Consideration
advantages
Choice Advantages
Establishing Brand
Awareness
Brand Image
Strength of Brand
Associations
Favorability of
Brand Associations
Uniqueness of BrandAssociations
Ref: Chapter 2 of Core Text
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Building A Strong BrandBuilding A Strong Brand
The Four Steps of Brand Building:
1. Identity (Who are you?)
2. Meaning (What are you?)
3. Response (What about you?) 4. Relationship (What about you & me?)
Ref: Chapter 2 of Core Text
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Customer Customer--based Brand Equity based Brand Equity
PyramidPyramid
Resonance
Judgments Feelings
Performance Imagery
Salience
Ref: Chapter 2 of Core Text
Identity
Meaning
Response
Relationship
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Customer Customer--based Brand Equity Pyramid (2)based Brand Equity Pyramid (2)
Brand Salience: Thisrelates to aspects of awareness of the brand
Brand Performance:
This relates to ways inwhich product/ servicemeets customers¶ needs
Brand Imagery: It¶s howcustomers visualize abrand abstractly, withno relevance to what thebrand actually does
Brand Judgments: Thecustomers¶ personalopinions and evaluationswith regard to the brand
Brand Feelings: Thecustomers¶ emotionalresponses and reactionswith respect to the brand
Brand Resonance: Theultimate relationship &level of identificationthat the customer haswith the brand
Ref: Chapter 2 of Core Text
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BRAND POSITIONING ANDBRAND POSITIONING AND
VALUESVALUES
CHAPTER 3
Ref: Chapter 3 of Core Text
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Identif ying and EstablishingIdentif ying and EstablishingBrand PositioningBrand Positioning
Basic ConceptsTarget Market
Nature of Competition
Points of Parity and Points of Difference
Ref: Chapter 3 of Core Text
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Identif ying and EstablishingIdentif ying and Establishing
Brand Positioning (2)Brand Positioning (2) Basic Concepts: According to the CBBE
model, it is necessary to decide:-
1. Who the target consumer is
2. Who the main competitors are
3. How the brand is similar to these
competitors, and 4. How the brand is different from these
competitors
Ref: Chapter 3 of Core Text
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Identif ying and EstablishingIdentif ying and Establishing
Brand Positioning (3)Brand Positioning (3) Target Market:
Segmentation Bases:
a) Behavioral b) Demographic
c) Psychographic d) Geographic
Segmentation Criteria:
a) Identifiability b) Size
c) Accessibility d) Responsiveness
Ref: Chapter 3 of Core Text
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Identif ying and EstablishingIdentif ying and Establishing
Brand Positioning (4)Brand Positioning (4) Nature of Competition:
Channels of Distribution
Competitors¶ Resources
Competitors¶ Capabilities
Competitors¶ Likely Intentions
Other Competitive Factors (Porter¶s 5-
Force Model refers)
Ref to Chapter 3 of Core Text
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Identif ying and EstablishingIdentif ying and Establishing
Brand PositioningBrand Positioning
Points of Parity and Points of Difference:
1. Points of Difference Associations
2. Points of Parity Associations
3. Points of Parity versus Points of
Difference
Ref: Chapter 3 of Core Text
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Positioning GuidelinesPositioning Guidelines
1. Defining and Communicating the
Competitive Frame of Reference
2. Choosing Points of Parity and Points of
Difference
3. Establishing Points of Parity and
Points of Difference
4. Updating Positioning Over Time
Ref: Chapter 3 of Core Text
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Positioning Guidelines (1)Positioning Guidelines (1)
Defining and Communicating theCompetitive Frame of Reference:
A starting point in defining a competitive frame
of reference for brand positioning is todetermine Category Membership. Membershipindicates the products or set of products withwhich a brand competes. Communicating
category membership informs the consumerabout the goals that they might achieve byusing a product or service.
Ref: Chapter 3 of Core Text
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Positioning Guidelines (2)Positioning Guidelines (2)
Choosing Points of Parity and Points of Difference:
Points of Parity: These are driven by the needs of category membership and the necessity of
negating competitors¶ PO Ds. Points of Difference: These are based on the
following criteria:
1. Desirability: In terms of a) Relevance
b) Distinctiveness, and c) Believablity2. Deliverability: In terms of a) Feasibility
b) Communicability, and c) Sustainability
Ref: Chapter 3 of Core Text
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Positioning Guidelines (3)Positioning Guidelines (3)
Establishing Points of Parity and Points of Difference:
1. Separate the attributes: Launch two marketing
campaigns, each one devoted to a different brand attribute or benefit.
2. Leverage Equity of another Entity: Link thebrand with a well-liked celebrity, cause or event.
3. Redefine the Relationship: Use attitudechange strategies to convert negative perspectivesabout the brand to positive ones.
Ref: Chapter 3 of Core Text
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Positioning Guidelines (4)Positioning Guidelines (4)
Updating Positioning Over Time:
1. Laddering: This strategy is to deepenthe meaning of the brand to tap into corebrand values or other more abstract considerations.
2. Reacting: This could imply no reaction
to moderate or significant reactionsdepending on level of competitive threat.
Ref: Chapter 3 of Core Text
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CHOOSING BRANDCHOOSING BRAND
ELEMENTS TO BUILDELEMENTS TO BUILDBRAND EQUITYBRAND EQUITY
CHAPTER 4
Ref: Chapter 4 of Core Text
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Criteria for Choosing BrandCriteria for Choosing Brand
ElementsElements1. Memorability
2. Meaningfulness
3. Likability
4. Transferability
5. Adaptability6. Protectability
Ref: Chapter 4 of Core Text
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Options and Tactics for Options and Tactics for
Brand ElementsBrand Elements
1. Brand Names
2. URLs (Uniform Resource Locators)
3. Logos and Symbols
4. Characters
5. Slogans
6. Jingles
7. Packaging
Ref: Chapter 4 of Core Text
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DESIGNING MARKETINGDESIGNING MARKETING
PROGRAMS TO BUILDPROGRAMS TO BUILDBRAND EQUITYBRAND EQUITY
CHAPTER 5
Ref: Chapter 5 of Core Text
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New Perspectives onNew Perspectives on
MarketingMarketing
Five Major Drivers of the New Economy:
Philip Kotler identifies them as under:
1. Digitalization and connectivity 2. Disintermediation and Reintermediation
3. Customization and Customerization
4. Industry Convergence
5. New Customer and Company Capabilities
(Remaining topic is for Self-study)
Ref: Chapter 5 of Core Text
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Product StrategyProduct Strategy
Perceived Quality and Value:
1. Brand Intangibles
2. TQM and Return on Quality
3. Value Chain
Relationship Marketing:
1. Mass Customization
2. Aftermarketing 3. Loyalty Programs
Ref: Chapter 5 of Core Text
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Pricing StrategyPricing Strategy
Consumer Price Perceptions:
Price Band strategies
Value-based Pricing Strategies
Setting Prices to Build Brand Equity: Value Pricing based on: a) Product design and
delivery b) Product costs, and c) Product prices
Everyday Low Pricing (E D LP): A strategy based
on low pricing as well as discounts and promotions to consumers at regular intervals.
Ref: Chapter 5 of Core Text
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Channel StrategyChannel Strategy
Channel Design: Broadly, channel types can beclassified into Direct and Indirect channels.
Direct Channels: a) Company-owned stores b)Leased/Rented shopping-space in larger
department stores.
Indirect Channels: a) Distributors and Dealersb) Retailers c) other middlemen
Web Strategies: Today, these are extremely
powerful channels if supported by efficientphysical ³brick & mortar´ channels.
Ref: Chapter 5 of Core Text
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LEVERAGING SECONDARYLEVERAGING SECONDARY
BRAND KNOWLEDGE TOBRAND KNOWLEDGE TOBUILD BRAND EQUITYBUILD BRAND EQUITY
CHAPTER 7
Ref: Chapter 7 of Core Text
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Conceptualizing theConceptualizing the
Leveraging ProcessLeveraging Process Creation of New Brand Associations:
By making a connection between the brand andanother entity, consumers may form a mentalassociation from the brand to this entity and,consequently, to any or all associations, judgments,feelings and the like linked to that entity
Effects on Existing Brand Knowledge: Three factorsare important in predicting the extent of leverageresulting from linking the brand to another entity:
i) Awareness and knowledge of the entity
ii) Meaningfulness of the knowledge of the entity, and
iii) Transferability of the knowledge of the entity
Ref: Chapter 7 of Core Text
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CompanyCompany
The branding strategies adopted by a companythat makes a product or offers a service are animportant determinant of the strength of association from the brand to the company andany other existing brands. Three mainbranding options exist for a new brand:
1. Create a new brand
2. Adapt or modify an existing brand
3. Combine an existing and new brand
Ref: Chapter 7 of Core Text
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Countr y of OriginCountr y of Origin
Besides the company that makes the product,
the country or geographic location from which
it is seen as originating may also become linked
to the brand and generate secondary
associations. Thus, a customer may choose to
wear Italian suits, exercise in American sports
shoes, drive a German car, and drink English
beer.
Ref: Chapter 7 of Core Text
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Channels of DistributionChannels of Distribution
Channels of distribution can directlyaffect the equity of the brands they sell bythe supporting actions that they take.Retail stores can indirectly affect thebrand equity of the products they sell byinfluencing the nature of associations thatare inferred about these products on the
basis of the associations linked to theretail stores in the minds of consumers.
Ref: Chapter 7 of Core Text
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CoCo--BrandingBranding
Co-branding: Also called brand bundling orbrand alliances-occurs when two or moreexisting brands are combined into a jointproduct or are marketed together in some
fashion. Ingredient branding: This is a special case of co-
branding that involves creating brand equityfor materials, components, or parts that are
necessarily contained within other brandedproducts.
Ref: Chapter 7 of Core Text
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LicensingLicensing
Licensing involves contractual
arrangements whereby firms can use the
names, logos, characters, and so forth of
other brands to market their own brandsfor some fixed fee. Because it can be a
shortcut means of building brand equity,
licensing has gained popularity in recentyears.
Ref: Chapter 7 of Core Text
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Celebrity Endorsement (1)Celebrity Endorsement (1)
Using well-known and admired people topromote products is a widespread phenomenon
with a long marketing history. The rationale
behind these strategies is that a famous person
can:
1. Draw attention to a brand, and
2. Shape the perceptions of the brand by virtue
of the inferences that consumers make based onthe knowledge they have about the famous
person.
Ref: Chapter 7 of Core Text
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Celebrity Endorsement (2)Celebrity Endorsement (2)
Potential Problems: 1. Celebrity endorsers can be overused by
endorsing so many products that they lack anyspecific product meaning or are just seen as
overly opportunistic or insincere. 2. There must be a reasonable match between
the celebrity and the product.
3. Celebrity endorsers can lose popularity thus
diminishing their market value to the brand. 4. Many consumers feel that celebrities are
doing the endorsement only for money.
Ref: Chapter 7 of Core Text
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Sporting, Cultural, or Other EventsSporting, Cultural, or Other Events
1. A brand may seem more likable oreven trustworthy by becoming linked toan event.
2. Sponsored events can contribute tobrand equity by becoming associated tothe brand and improving brand
awareness, adding new associations, orimproving the strength, favorability, anduniqueness of associations.
Ref: Chapter 7 of Core Text
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DEVELOPING A BRANDDEVELOPING A BRAND
EQUITY MEASUREMENTEQUITY MEASUREMENT
AND MANAGEMENTAND MANAGEMENTSYSTEMSYSTEM
CHAPTER 8
Ref: Chapter 8 of Core Text
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The Brand ValueChainThe Brand ValueChain
Value Stages:
1. Marketing Program Investment
2. Customer Mindset
3. Market Performance
4. Shareholder Value
Ref: Chapter 8 of Core Text
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Value Stages (1)Value Stages (1)
Marketing Program Investment: The ability of a marketing program investment to transfer ormultiply further down the chain will depend onqualitative aspects of the marketing program
via the program multiplier.
The Program Multiplier: Four factors areimportant:
1. Clarity 2. Relevance
3. Distinctiveness, and 4. Consistency
Ref: Chapter 8 of Core Text
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Value Stages (2)Value Stages (2)
Customer Mindset: Five dimensions have emerged
from research as important measures of the customer
mindset:
1. Brand Awareness 2. Brand Associations
3. Brand Attitudes 4. Brand Attachment
5. Brand Activity
Customer Multiplier: Three essential factors are:
1. Competitive Superiority 2. Channel and other intermediary support 3. Customer size and profile
Ref: Chapter 8 of Core Text
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Value Stages (3)Value Stages (3)
Market Performance: Six dimensions need tobe addressed:
1. Price Premiums 2. Price Elasticities
3. Market Share 4. Brand Expansion5. Cost Structure 6. Brand Profitability
Market Multiplier: Following factors need tobe considered:
1. Market D ynamics 2. Growth Potential 3. Risk Profile 4. Brand Contributions
Ref: Chapter 8 of Core Text
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Value Stages (4)Value Stages (4)
Stakeholder Value: Based on all available andforecasted information about a brand andmany other considerations, the financialmarketplace then formulates opinions andmakes various assessments that have directfinancial implications for the brand value.Three important indicators are:
1. Stock price
2. Price/earnings multiple, and 3. Overall market capitalization of the firm
Ref: Chapter 8 of Core Text
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The Brand Value ChainThe Brand Value Chain
Implications:
1. A necessary condition for value creation is awell-funded, well-designed, and well-implemented marketing program.
2. Value creation involves more than just theinitial marketing investment.
3. Each of the three multipliers can increase or decrease market value from stage to stage.
4. The brand value chain provides a detailed roadmap for tracking value creation enabling market research and intelligence efforts.
Ref: Chapter 8 of Core Text
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Designing Brand TrackingDesigning Brand Tracking
StudiesStudies What to Track:
1. Product Brand Tracking
2. Corporate or Family Brand Tracking
3. Global Tracking
How to Conduct Tracking Studies:
1. Who to track
2. When and where to track How to Interpret Tracking Studies
Ref: Chapter 8 of Core Text
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Designing Brand Tracking Studies (1)Designing Brand Tracking Studies (1)
What to Track: Three distinct surveys can beconducted for:
1. Product-Brand Tracking: The six-block pyramid for brand-building can be used as abasis for design of the questionnaire.
2. Corporate or Family Brand Tracking: Someadditional questions may be added to establishlevels of corporate credibility and corporatebrand associations.
3. Global Tracking: A broader set of background measures are needed to put brand development in those markets in the right perspective .
Ref: Chapter 8 of Core Text
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Designing Brand Tracking Studies (2)Designing Brand Tracking Studies (2)
Who to Track:
1. Current Customers
2. Potential Customers
3. Channel Members 4. Frontline Employees (Services sector)
When and Where to Track: Options are:
Continuous Tracking Studies
Based on Stage of Product Life Cycle
Based on depth of Brand Equity
Ref: Chapter 8 of Core Text
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Designing Brand Tracking Studies (3)Designing Brand Tracking Studies (3)
How to Interpret Tracking Studies: For tracking
measures to facilitate actionable insights andrecommendations, they must be reliable and sensitiveas possible. This may require framing of questions in acomparative or temporal manner. It is also necessary todecide on appropriate cutoffs. For example:
What is a sufficiently high level of brand awareness?
When are brand associations sufficiently strong,favorable, and unique?
How positive should brand judgments and feelings be? What are reasonable expectations for the amount of
brand resonance?
Ref: Chapter 8 of Core Text
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Establishing a Brand Equity Establishing a Brand Equity
Management SystemManagement System Brand Equity Charter
Brand Equity Report
Brand Equity Responsibilities:
1. Overseeing Brand Equity
2. Organizational Design and Structure
3. Managing Marketing Partners
Ref: Chapter 8 of Core Text
Establishing a Brand Eq itEstablishing a Brand Eq it
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Establishing a Brand Equity Establishing a Brand Equity
Management System (1)Management System (1)
Brand Equity Charter: A formalized documentshould spell out the following:
The firm¶s view of the brand equity concept.
The scope of the key brands of the firm.
Specify the actual and desired equity for a brand at all relevant levels i.e. at individual product level and corporate level.
Strategies for managing brand equity.
Outline specific tactical guidelines for marketing programs.
Trademark usage, packaging & communications
Ref: Chapter 8 of Core Text
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Establishing a Brand Equity Establishing a Brand Equity
Management System (2)Management System (2)
Brand Equity Report: Important marketinformation that should be included:
1. Product shipments and movement
through channels of distribution. 2. Relevant cost breakdowns
3. Price and discount schedules
4. Sales and market share information 5. Profit assessments
Ref: Chapter 8 of Core Text
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Establishing a Brand Equity Establishing a Brand Equity
Management System (3)Management System (3)
Brand Equity Responsibilities:
1. Overseeing Brand Equity: Aspects that areimportant:
a) Review brand sensitive material b) Review the status of key brand initiatives
c) Review brand sensitive projects
d) Review new product and distribution strategies
with respect to core brand valuese) Resolve brand positioning conflicts
Ref: Chapter 8 of Core Text
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Establishing a Brand EquityEstablishing a Brand Equity
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Establishing a Brand Equity Establishing a Brand Equity
Management System (3Management System (3--contd)contd)
Brand Equity Responsibilities:
3. Managing Marketing Partners: The
performance of a brand also depends on the
actions taken by outside suppliers and marketing partners. Hence, these relationships must be
managed carefully. Many leading global firms
have been consolidating their marketing
partnerships and reducing the number of outsidesuppliers. (Ex: Levi Strauss value chain)
Ref: Chapter 8 of Core Text (END OF PART I)