BRAND AND LUXURY MARKETING

IMPORTANT TOPICS BRAND AND LUXURY

• Different types of brands-stock, cult

• Product levels
• Brand definition
• Product definition
• Difference between product and brand
• POP, POD
• Connected packaging
• Competitive advantage
• Positioning strategies
• David ackur model
• Cbb model
• Brand elements
• Can services be branded
• Globe strategy
• Brand mantra
• Brand value chain
• Brand knowledge
• Brand management process

QUESTION

Analyse the brand element of SUGAR cosmetics

Analyse the brand element of UBER

Explain brand knowledge/ elaborate on components of brand elements/brand knowledge

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 Unit 1 – Introduction to Brand Management

Discussion on Brand, Significance of brand mgt w.r.t strongest brands-what makes it strong?
Product vs. BrandB2B products, services, retailers, distributors, sports, geographic locations, media
branding Strongest Brands-Cult brands, Iconic brands, Premium brands, branding challenges
&opportunities, brand personality. Steps in Strategic brand Management Process, Historical origin
of Branding & some brand names origin

WHAT IS A PRODUCT?

In marketing, a product is anything that can be offered to a market that might satisfy a want or need

PRODUCT LEVELS

1. Core benefit:
The fundamental need or want that consumers satisfy by consuming the product or service.
For example, the need to process digital images.

2. Generic product:
A version of the product containing only those attributes or characteristics absolutely
necessary for it to function. For example, the need to process digital images could be satisfied
by a generic, low-end, personal computer using free image processing software or a processing
laboratory.

3. Expected product:
The set of attributes or characteristics that buyers normally expect and agree to when they
purchase a product. For example, the computer is specified to deliver fast image processing
and has a high-resolution, accurate colour screen.

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 4. Augmented product:
The inclusion of additional features, benefits, attributes or related services that serve to
differentiate the product from its competitors. For example, the computer comes pre-loaded
with a high-end image processing software for no extra cost or at a deeply discounted,
incremental cost.

5. Potential product:
This includes all the augmentations and transformations a product might undergo in the
future. To ensure future customer loyalty, a business must aim to surprise and delight
customers in the future by continuing to augment products. For example, the customer
receives ongoing image processing software upgrades with new and useful features.

WHAT IS A BRAND??

A name, term, design, symbol, or any other feature that identifies one seller's good or service as
distinct from those of other sellers. The legal term for brand is trademark. A brand may identify one
item, a family of items, or all items of that seller. If used for the firm as a whole, the preferred term is
trade name.

Brand elements

• The key to creating a brand:

• Able to choose a name, logo, symbol, package design, or other characteristic that identifies a
product
• Distinguishes it from other products
• Components that identify and differentiate a brand are brand elements

1. Brand Name: The brand's name is one of the most fundamental elements. It should be easy
to remember, pronounce, and recognize. A strong brand name can convey the brand's identity
and values.
2. Logo: A logo is a unique symbol or design that represents the brand visually. It should be
distinctive, memorable, and scalable (looks good in different sizes). Often, the logo
incorporates elements that reflect the brand's personality and values.
3. Tagline or Slogan: A tagline is a short and memorable phrase that accompanies the brand
name and logo. It can convey the brand's promise, message, or unique selling proposition,
making it easier for consumers to understand what the brand stands for.
4. Color Palette: Brands often have specific colors associated with them. These colors are
consistently used in branding materials, packaging, and advertisements. Colors can evoke
emotions and create a sense of identity for the brand.
5. Typography: The choice of fonts and text styles used in the brand's communication materials
is important. Consistent typography enhances brand recognition and readability.
6. Jingle/Music: Some brands use a unique jingle or musical theme in their advertisements. This
auditory element can create strong brand recall and emotional connection with consumers
7. Packaging: The design and layout of product packaging can serve as a significant brand
element. It includes the use of brand colors, logos, and other visual elements, making the
product easily recognizable on the shelves.

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 8. Characters/Mascots: Some brands create characters or mascots that represent the brand.
These characters can become iconic and help in brand storytelling and creating a memorable
brand image.
9. Shapes and Symbols: Unique shapes or symbols associated with the brand can become
powerful brand elements. For example, the Coca-Cola bottle has a distinctive shape that is
instantly recognizable.
10. Sensory Elements: Apart from visual elements, brands can also incorporate sensory elements
like specific scents or textures. These elements can create a multisensory brand experience
and enhance brand recall.

BRANDS VERSUS PRODUCTS

A product is anything we can offer to a market for attention, acquisition, use, or consumption:

◦ That might satisfy a need or want

◦ Physical good like a cereal, tennis racquet, or car

A brand is more than a product since it can have dimensions that differentiate it from other products

◦ Differences between a product and a brand may be:

◦ Rational and tangible:

◦ Related to product performance of the brand

◦ Or may be more symbolic, emotional, and intangible:

◦ Related to what the brand represents

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 BRAND VS PRODUCT
Definition A unique name, design, symbol, term, or feature that A physical or tangible item that is
distinguishes one company’s goods or services from manufactured, produced, or created to
those of others in the marketplace meet a specific need or want
Focus Identity and perception of the company in the Physical characteristics and attributes of
marketplace the item
Examples Apple, Nike, Coca-Cola iPhone, Air Max shoes, Coca-Cola Classic

Key components Brand name, logo, tagline, brand identity, brand Design, features, benefits, quality,
positioning packaging
Marketing Branding, advertising, public relations, social media, Product development, pricing,
events, sponsorships promotion, distribution
Importance Determines customer loyalty, trust, and reputation Influences purchase decisions,
differentiation from competitors

Duration Long-term, evolves over time Short-term, specific lifespan

Scope Can encompass multiple products or services Refers to a single item or line of related
items
Value Intangible, subjective, and emotional Tangible, objective, and functional

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WHY DO BRANDS MATTER?

Consumers

• Functions provided by brands to consumers:

• Identify the source or maker of the product
• Simplify product decisions
• Lower the search costs for products internally and externally
• Helps set reasonable expectations about what consumers may not know about the brand
• Brand can signal product characteristics and attributes:
• On the basis of attributes products can be classified as:
o Search goods
o Experience goods
o Credence goods
• Brands can reduce risks in product decision:
o These risk can be categorised as:
o Functional, physical, financial, social psychological, and time

Firms

• Brands provide valuable functions to a firm:

• Simplify product handling and tracing
• Help organizing inventory and accounting records
• Offer the firm legal protection for unique features or aspects of the product
• Provide predictability and security of demand for the firm and creates barriers of entry for
competitors
• Provide a powerful means to secure competitive advantage

ROLES THAT BRANDS PLAY

Consumers

• Identification of source of product

• Assignment of responsibility to product maker
• Risk reducer
• Search cost reducer
• Promise, bond, or pact with maker of product
• Symbolic device
• Signal of quality

Manufacturers

• Means of identification to simplify handling or tracing

• Means of legally protecting unique features
• Signal of quality level to satisfied customers
• Means of endowing products with unique associations
• Source of competitive advantage
• Source of financial returns

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WHAT CAN BE BRANDED?

Physical goods

They are what are traditionally associated with brands:

• Mercedes-Benz
• Nescafé
• Sony

Branding has been adopted in a variety of industries:

Industrial business-to-business (B2B) products

Technologically intensive “high-tech” products

Services

Branding a service can be an effective way to signal to consumers that a firm has designed a
particular service offering that is special and deserving of its name:

• American Express Yes, services can be branded just like physical

• British Airways products. Branding a service involves creating a
distinct identity, including a name, logo,
• Ritz-Carlton
messaging, and overall customer experience, to
• Merrill Lynch differentiate it from competitors and create a
• Federal Express positive perception in the minds of consumers.
Effective service branding can build trust, loyalty,
and recognition in the market.
People and Organizations

A product category can be a person or an organization:

Naming of this branding is usually straightforward

Usually is accompanied by well-defined images that are easily understood by consumers

The key to a person or organization as a brand is that people outside your industry know who you are
and recognize your skills, talents, and attitude:

• Lady Gaga
• The American Red Cross
• Amnesty International
• Sierra Club

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Sports, Arts, and Entertainment

A special case of marketing people and organizations as brands exists in the sports, arts, and
entertainment industries:

Sports marketing has become highly sophisticated

Branding plays, for example, has become an especially valuable function in the arts

• Movies have become famous for their marketing and branding:

• For years, some of the most valuable movie franchises have featured recurring characters
and ongoing stories—a classic application of branding

Place

What has contributed to the rise in place marketing?

Increased mobility of people

Increased mobility of businesses

• Growth in tourism
• Cities, states, regions, and countries actively promote through advertising, direct mail, and
other tools

WHAT ARE THE STRONGEST BRANDS?

Brands that are the “strongest” are the brands that are:

• Best known
• Most highly regarded

Maintaining brand relevance and differentiation are important to the success of a brand

BRANDING CHALLENGES

• Customers
o More Informed
o More Demanding
o More Specific
o Less Loyal
• Brands
• Competition
• Media
• Costs
• Accountability

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 Unit 2: Customer Based Brand equity.

Customer Based Brand Equity: Customer Based Brand Equity-Meaning, (Keller Brand Equity Model)
Model of CBBE Brand Equity: Meaning, Sources, Steps in Building Brands, Brand building blocks-
Resonance, Judgments, Feelings, performance, imagery, salience-Brand Building Implications,
David Aaker’s Brand Equity Model

Brand Identity & Positing: Meaning of Brand identity, Need for Identity & Positioning, Dimensions
of brand identity, Brand identity prism, Brand positioning – Meaning, Point of parity & Point of
difference, positioning guidelines Brand Value: Definition, Core Brand values, Brand mantras,
Internal branding, Brand Resonance and Brand value chain.

It’s used to assess and manage a brand’s value from the

CUSTOMER BASED BRAND EQUITY perspective of the customer.
Consumer-Based Brand Equity (CBBE) is a concept in marketing that describes the value a brand adds
to a product by giving consumers a reason to buy it. It emphasizes the importance of understanding
customer perceptions and preferences in building and managing successful brands. CBBE is built on
the idea that strong brands create strong emotional connections with consumers, leading to brand
loyalty and positive word-of-mouth marketing. The concept was developed by Kevin Lane Keller, a
marketing professor at Dartmouth College.

There are four key components of Consumer-Based Brand Equity:

1. Brand Awareness: This refers to how well consumers can recognize or recall a brand. Strong
brand awareness means that consumers can easily identify the brand in various situations,
such as when they see the logo or hear the brand name.

2. Brand Associations: These are the qualities, features, and characteristics that consumers link
to a particular brand. Positive brand associations help in shaping the brand's image and can
include attributes like quality, reliability, and innovation.

3. Perceived Quality: Consumers' perception of the overall quality or superiority of a brand

compared to alternatives in the market. A brand with high perceived quality is more likely to
attract and retain loyal customers.

4. Brand Loyalty: This component measures the degree to which consumers are committed to
a brand and prefer it over other options. Loyal customers are more likely to repurchase the
brand and may also recommend it to others.

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MAKING A BRAND STRONG: BRAND KNOWLEDGE Consumer perceptions, beliefs, and
attitudes towards a brand, encompassing
The associative network memory model: brand awareness and brand image.
• Views memory as a network of nodes and connecting links:
• Nodes—Represent stored information or concepts
• Links—Represent the strength of association between the nodes

Brand associations are informational nodes linked to the brand node in memory

Brand knowledge has two components:

Brand awareness:

Related to the strength of the brand node or trace in memory

Often a step in building brand equity

Often come into play

Brand image:

Consumers’ perceptions about a brand, as reflected by the brand associations held in consumer
memory

SOURCES OF BRAND EQUITY- Brand Awareness & Brand Image

Brand awareness

It consists of brand recognition and brand recall performance:

Brand recognition:

Consumer’s ability to confirm prior exposure to the brand when given the brand as a cue

Brand recall:

• Consumers’ ability to retrieve the brand from memory when given:

• The product category
• The needs fulfilled by the category, or
• A purchase or usage situation as a cue

Advantages of brand awareness:

Learning advantages

Consideration advantages

Choice advantages:

• Consumer purchase motivation

• Consumer purchase ability
• Consumer purchase opportunity

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BRAND AWARENESS

• Anything that causes consumers to experience one of a brand’s element can increase
familiarity and awareness of that brand element:
• Name, symbol, logo, character, packaging, or slogan, including advertising and promotion,
sponsorship and event marketing, publicity and public relations, and outdoor advertising
• Repetition increases recognizability:
• But improving brand recall also requires linkages in memory to product aspects

BRAND IMAGE

Once a sufficient level of brand awareness is created:

• Marketers can put more emphasis on crafting a brand image

• Creating a positive brand image:
• Takes marketing programs that link strong, favorable, and unique associations to the brand in
memory
• Brand associations may be either brand attributes or benefits

 Strength of Brand Associations

 More deeply a person thinks about product information and relates it to
existing brand knowledge, stronger is the resulting brand association
 Favorability of Brand Associations
 Is higher when a brand possesses relevant attributes and benefits that
satisfy consumer needs and wants
 Uniqueness of Brand Associations
 “Unique selling proposition” of the product
 Provides brands with sustainable competitive advantage

Identifying and Establishing Brand Positioning

• Basic Concepts
• Target Market
• Nature of Competition
• Points-of-Parity and Points-of-Difference

Brand positioning:

• Act of designing the company’s offer and image so that it occupies a distinct and valued
place in the target customers’ minds
• Finding the proper “location” in the minds of consumers or market segment
• Allows consumers to think about a product or service in the “right” perspective

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Target Market

Market segmentation

Divides the market into distinct groups of homogeneous consumers who have similar needs and
consumer behaviour

Involves identifying segmentation bases and criteria:

Criteria:

• Identifiability
• Size
• Accessibility
• Responsiveness

Consumer Segmentation Bases

Behavioral

• User status
• Usage rate
• Usage occasion
• Brand loyalty
• Benefits sought

Demographic

• Income
• Age
• Sex
• Race
• Family

Psychographic

• Values, opinions, and attitudes

• Activities and lifestyle

Geographic

• International
• Regional

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Points of Parity and Points of Difference (KIA)

Points of Parity (POPs): Points of Parity are the similarities between a brand and its competitors that
are considered essential for the brand to be perceived as a legitimate and credible player in the
market. These similarities help a brand to meet the basic expectations of consumers within a
particular category. Points of Parity establish necessary common ground with other brands and
prevent customers from switching to competitors.

1. Category Points of Parity: These are the basic characteristics and features that consumers
expect from any brand within a specific product category. For instance, consumers expect all
smartphones to have basic functionalities like calling, texting, and internet connectivity.

2. Competitive Points of Parity: These are the features and attributes a brand needs to match
to be considered at par with its competitors. For example, if most cars in a certain segment
offer a certain level of fuel efficiency, a new entrant in the market must meet or exceed this
standard.

Points of Difference (PODs): Points of Difference are the unique aspects or characteristics of a brand
that set it apart from competitors. These differentiators create a competitive advantage and provide
reasons for customers to choose one brand over another. Points of Difference are what make a brand
memorable and distinctive in the minds of consumers.

1. Product-related Points of Difference: These are specific product features or innovations that
make a brand superior. For example, a smartphone with a revolutionary camera technology
or a car with exceptional safety features.

2. Non-product-related Points of Difference: These differentiators are not directly related to

the physical product but can influence consumer perceptions. Examples include exceptional
customer service, a strong brand personality, or a unique brand story.

TO REFER WHATSAPP

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DEFINING A BRAND MANTRA

Brands may span multiple product categories and may have multiple distinct—yet related—
positionings

As brands evolve and expand across categories:

Marketers will want to craft a brand mantra that reflects the essential heart and soul of the brand

Short, three-to five-word phrase:

• Captures the irrefutable essence or spirit of the brand positioning

• Provides guidance about:
• What products to introduce under the brand
• What ad campaigns to run
• Where and how the brand should be sold

Steps of Brand Building

1. Brand Salience
2. Brand Performance
3. Brand Imagery
4. Brand judgments
5. Brand Feelings
6. Brand Resonance
7. Brand-Building Implications

BRAND RESONANCE PYRAMID

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SUBDIMENSIONS OF BRAND BUILDING BLOCKS

SALIENCE

Achieving the right brand identity means creating brand salience with customers

Brand salience:

• Measures various aspects of the awareness of the brand

• How easily and often the brand is evoked under various situations or circumstances

Breadth and depth of awareness:

Gives a product an identity by linking brand elements to:

• The product category

• The associated purchase
• The consumption or usage situations

Product category structure:

• How product categories are organized in memory

• Marketers assume that products are grouped

Strategic implications:

• Brand needs to be top-of-mind and have sufficient mind share:

• But also must do so at the right times and places

Brand Performance

• Describes how well the product or service:

• Meets customers’ more functional needs
• Rate on objective assessments of quality
• Satisfies utilitarian, aesthetic, and economic customer needs and wants in the product or
service category

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Brand Imagery

A main type of brand meaning is brand imagery

Brand imagery depends on the extrinsic properties of a product or service

Many kinds of intangibles can be linked to a brand; the four main ones are:

User profiles

• Purchase and usage situations

• Personality and values
• History, heritage, and user experiences

 One set of brand imagery associations is about the type of person or organization who uses the
brand
 Demographic factors include:
 Gender
 Age
 Race
 Income
 Purchase and usage imagery:
 Associations that tells consumers under what conditions or situations they can or should buy
and use a brand

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 Unit 3: Choosing Brand Elements to Build Brand Equity

Brand name, Naming guidelines, Naming procedure, Awareness, Brand Associations, Logos &
Symbols & their benefits, Characters & Benefits, Slogans & Benefits, Packaging. Leveraging Brand
Knowledge: Meaning of Brand Knowledge, Dimensions of Brand Knowledge, Meaning of
Leveraging Secondary Brand Knowledge & Conceptualizing the leverage process.

CRITERIA FOR CHOOSING BRAND ELEMENTS

1. Memorability
• Easily recognized
• Easily recalled

2. Meaningfulness

• Descriptive
• Persuasive

3. Likability

• Fun and interesting

• Rich visual and verbal imagery
• Aesthetically pleasing

BRAND NAMES

The brand name is fundamentally important:

Often captures the central theme or key associations of a product in a compact, economical fashion

Most difficult element for marketers to change:

Closely tied to the product in the minds of consumers

Selecting a brand name for a new product is an art and a science

Must be chosen with the six general criteria in mind:

• Memorability
• Meaningfulness
• Likability
• Transferability
• Adaptability
• Protectability

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Naming procedures:

1. Define objectives
2. Generate names
3. Screen initial candidates
4. Study candidate names
5. Research the final candidates
6. Select the final name

U R Ls (Uniform Resource Locators)

They specify locations of pages on the Web:

• Commonly referred to as domain names

• Owner of a U R L must register and pay for the name
• Protects a brand from unauthorized use in other domain names
• Cybersquatting- Registering, trafficking in, or using a domain name with bad-faith to profit
from:
• The goodwill of a trademark belonging to someone else
• A company needs to protect their brands from unauthorized use in other domain names:
• Company can:
o Sue current owner of the U R L for copyright infringement
o Buy the name from the current owner
o Register all conceivable variations of its brand as domain names ahead of time
o Cybersquatting or domain squatting:
o Registering, trafficking in, or using a domain name with bad-faith to profit from:
o The goodwill of a trademark belonging to someone else

Logos and Symbols

Logos:

• Visual elements play a critical role in building brand equity and brand awareness:
• Indicate origin, ownership, or association
• Range from corporate names or trademarks written in a distinctive form, to abstract designs
that may:
• Be completely unrelated to the corporate name or activities

Symbols:

• Nonword mark logos

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Slogans

• Short phrases that communicate descriptive or persuasive information about the brand
• Function as useful “hooks” or “handles” to help consumers grasp the meaning of a brand
• Indispensable means of summarizing and translating the intent of a marketing program
• Designing slogans:
o Designed so they contribute to brand equity in multiple ways
o Can contain product-related messages and other meanings
• Updating slogans:
o Recognize how it contributes to brand equity:
o Through enhanced awareness or image
o Decide how much of this equity enhancement, if any, is still needed
o Retain needed or desired equities still residing in the slogan
o While providing whatever new twists of meaning are necessary to contribute to
equity in other ways

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Jingles

• Musical messages written around the brand

• Catchy hooks and choruses:
• Become permanently registered in the minds of listeners
• Enhance brand awareness by repeating the brand name in clever and amusing ways

Packaging

• Activity of designing and producing containers or wrappers

• From the perspective of both the firm and consumers, packaging must:
o Identify the brand
o Convey descriptive and persuasive information
o Facilitate product transportation and protection
o Assist in at-home storage
o Aid product consumption
• Packaging at the point of purchase:
o The right packaging can create strong appeal:
o On the store shelf
o Help products stand out from the clutter
o Can provide at least a temporary edge on competition
• Packaging innovations:
o Can lower costs
o Can improve demand for a product
• Package design:
o Has become a more sophisticated process:
o Specialized package designers bring artistic techniques and scientific skills
• Refers to “shelf impact” of a package
• Packaging changes:
• Can be expensive:
o But can be cost-effective compared with other marketing communication costs:
o Signal a higher price, or to more effectively sell products through new or shifting
distribution channels
o When a significant product line expansion would benefit from a common look
o To accompany a new product innovation to signal changes to consumers
o When old package looks outdated

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CRITIQUE OF BRAND ELEMENT OPTIONS

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AAKER model

There are different theories about how marketers can identify, measure and strengthen a company's
brand, including the Aaker Brand Equity Model. It's named after David Aaker, a former professor at
the University of California, Berkeley, who introduced the concept in the 1990s. This model interprets
brand equity as a combination of a brand's awareness, loyalty and perceived quality. These assets
can help a company increase the value of its products or services, which can have several benefits for
the customer. According to the model, brand equity can:

• Help retrieve information: The model suggests that brand equity can help customers learn,
understand and retrieve more information about a brand.

• Influence purchasing decisions: The Aaker model believes brand equity can increase
customers' confidence in their purchasing decisions because of their familiarity with the
brand.

• Increase customer satisfaction: According to the model, brand equity helps customers feel
confident in the quality of a brand, which can increase their satisfaction with the company.

Elements of brand identity in the Aaker model

1. Brand as a product
This element of brand identity focuses on the product or service that a company provides for
customers. It includes the product's scope, which is the set of features that characterize the
product. It considers the product's quality and its value for customers. This element can also
include the customers who use a product and the way they use the product.
2. Brand as an organization
The brand as an organization element refers to the attributes of the organization. This
element of brand identity may include the location of a company and the reach of its
products or services. For example, a small business may have a strong reach with local
customers in its geographic area, while a large corporation may have a much broader reach
with a wide audience. This element also focuses on the values and culture of a company,
such as its mission statement.
3. Brand as a person
This element of brand identity focuses on the relationships a company has with its
customers. The Aaker model also suggests this element can refer to the personality of a
brand, much like an individual's personality. For example, a company may determine its
brand identity based on a set of descriptive traits, such as customer-oriented, trustworthy
and casual.
4. Brand as a symbol
The final element of brand identity in the Aaker model includes the symbols attached to a
brand. For example, a company's logo may be part of its brand identity. The brand as a
symbol element can include visual images, audio elements or the history of a brand. These
symbols can provide a structure for a brand's identity, according to the Aaker model.

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 Types of Brand Positioning Strategies

Brand positioning is the process of positioning your brand in the mind of your customers. More
than a tagline or a fancy logo, brand positioning is the strategy used to set your business apart
from the rest.

1. Customer Service Positioning Strategy:

- Focuses on providing exceptional customer service.

- Example: TATA motors is known for its exceptional customer service, including 24/7 support and
free returns.

2. Convenience-Based Positioning Strategy:

- Emphasizes making products or services easily accessible and hassle-free.

- Example: Amazon's Prime service offers fast shipping and convenient shopping.

3. Price-Based Positioning Strategy:

- Competes on the basis of offering products or services at the lowest price.

- Example: Walmart is known for its "Everyday Low Prices."

4. Quality-Based Positioning Strategy:

- Highlights product or service quality and reliability.

- Example: Rolex is synonymous with high-quality, luxury watches.

5. Differentiation Strategy:

- Focuses on setting a brand apart from competitors through unique features or attributes.

- Example: Apple differentiates itself through design and innovation.

6. Social Media Positioning Strategy:

- Utilizes social media channels to build and maintain a brand image.

- Example: Nike's strong social media presence promotes athletic excellence and inclusivity.

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7. Other Positioning Strategies:

- Niche Positioning: Targets a specific, often underserved, market segment. Example: Tesla focuses
on electric vehicle enthusiasts.

- Lifestyle Positioning: Associates the brand with a particular lifestyle or values. Example: Patagonia
is linked to sustainability and outdoor enthusiasts.

- User Experience Positioning: Stresses the overall experience of using a product or service.
Example: Disney parks emphasize a magical experience.

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 WHAT IS BRAND MANAGEMENT?

• Brand management is a marketing process of building and managing a better brand image.
• Over time, it involves techniques and strategies to increase a brand or product line’s perceived
value.
• The primary aim of brand management is to add value to a brand by enabling the price of
products to go up while building a loyal customer base through solid brand awareness and
positive brand associations.

A strategic brand management process comprises four main steps:

1. Identification and establishment of brand positioning and values

2. Design and execution of brand marketing programmes
3. Measurement and evaluation of brand performance
4. Growth and sustenance of brand equity

1. Identification and establishment of brand positioning and values

Brand positioning plays a critical role in communicating a brand’s unique value to its customers
and dictates customer preferences and buying behaviour. As a result, it serves as the basis for
customer loyalty. Therefore, the first step of a strategic brand management process entails a
clear understanding of what a brand should represent and how it should be positioned with
competitors. It usually involves the following concepts:

• Mental maps: A point-of-view perception of the different brand-linked associations in the

consumer’s mind.
• Points of parity: Convincing customers that an offering similar to a competitor makes the
brand good enough for inclusion in the category.
• Points of difference: Convincing consumers that the benefits they associate with a brand
would not be found in a competitor brand.
• Brand mantra: A short phrase capturing the brand spirit.
• Core brand associations: Attributes that best characterise a brand.
• The frame of reference: Recognising the target market and identifying the nature of
competition.
2. Design and execution of brand marketing programmes

Once the brand management team has figured out the positioning strategy, the next step
involves planning and implementing marketing programmes to position the brand. The steps
involved here are as follows:

• Creating brand elements: Brand elements refer to the brand names, logos, symbols, URLs,
taglines, packaging, etc., that identify and differentiate a brand from its competitors.

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 Customers associate most with brand elements, facilitating brand awareness and
associations.
• Choosing brand marketing activities: Integrating brand marketing activities create
favourable and strong brand associations.
• Tapping secondary associations: This involves linking the brand to characters, countries,
sporting and cultural events, distribution channels, and the like to improve the brand equity.
3. Measurement and evaluation of brand performance

Measurement and evaluation of brand performance are essential to understand the impact of
various brand marketing programmes. It involves developing and implementing a system to
measure brand equity or social value. To implement a brand equity measurement system,
marketers need to complete the following steps:

• Brand auditing: A brand audit is an overall evaluation of the brand’s current market position
with respect to its competitors. Conducting a brand audit involves an assessment of the
strengths and limitations of the brand and suggesting ways to improve brand equity.
• Brand tracking: Brand tracking studies directly collect brand-related information from
consumers over time. It helps measure a brand’s current health regarding consumers’
perception and usage.
• Brand equity management system: It refers to a set of tools and research processes
designed to identify the sources and consequences of brand equity. It enables marketers to
develop the best possible tactics for building, measuring, and managing brand equity.
4. Growth and sustenance of brand equity

Once the brand equity has been built, the real challenge is sustaining and expanding it overtime
to ensure that the brand grows. It is a continuous process and involves the following steps:

• Establish brand architecture: Defining the brand architecture means setting down general
guidelines about the brand structure, brand elements, and branding strategy. It includes
brand portfolio and brand hierarchy. Brand portfolio lists the different brands a company
has to offer, and brand hierarchy is the number and nature of unique and common brand
elements across the firm’s products.
• Manage brand equity in the long run: It involves marketing decisions that will affect the
brand equity in the long run and determine the success of future marketing programmes.
• Reinforce and revitalise: It involves brand reinforcement to convey the brand image to
consumers consistently and brand revitalisation to either recapture lost sources of brand
equity or identify and establish new ones.

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 IMPORTANT TOPIC

Different Types of Brands - Stock, Cult:

• Stock Brands: These are standard, common brands widely available in the market. They cater
to the general population and focus on fulfilling basic needs.

• Cult Brands: These brands have a devoted and passionate customer base. They often create
a strong community around the brand, fostering a sense of belonging and loyalty.

Product Levels: Products can be analyzed at different levels - core product (basic functionality),
actual product (features, design), augmented product (additional services), and potential product
(future innovations).

Brand Definition: A brand is a unique symbol, name, design, or combination thereof that identifies a
seller's product or service as distinct from those of other sellers.

Product Definition: A product is a tangible item or an intangible service that fulfills a need or desire
of consumers. It can be bought or sold.

Difference Between Product and Brand: A product is what you sell; a brand is the perception and
emotional connection customers have with your product or company.

POP (Points of Parity) and POD (Points of Difference):

• POP: Characteristics a brand shares with competitors to meet basic customer expectations.

• POD: Unique attributes that differentiate a brand from competitors and create a competitive
advantage.

Connected Packaging: Using technology (like QR codes or RFID) to connect physical product
packaging with digital information, enhancing customer engagement and providing additional
product details.

Competitive Advantage: A unique attribute or set of attributes that gives a company a competitive
edge over its rivals, enabling it to outperform them in the market.

Positioning Strategies: Strategies used to position a brand in the minds of consumers, such as value-
based, quality-based, or lifestyle-based positioning.

David Aaker Model: A brand equity model developed by David Aaker, focusing on brand identity,
brand meaning, brand response, and brand resonance.

CBB Model (Customer-Based Brand Equity Model): Developed by Kevin Lane Keller, this model
emphasizes building brand equity by creating a strong brand identity in the minds of consumers.

Brand Elements: Components like brand name, logo, tagline, and symbols that help identify and
differentiate a brand.

Can Services Be Branded: Yes, services can be branded. Service branding involves creating a unique
image and identity for intangible services, enhancing customer experience and loyalty.

Globe Strategy: A global marketing strategy where companies standardize products and marketing
strategies across multiple countries to achieve economies of scale and consistent brand image.

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Brand Mantra: A short, three- to five-word phrase capturing the essence of the brand. It helps
employees understand the brand's mission and purpose.

Brand Value Chain: A process that views brand development as a series of steps, each adding value
to the brand, from marketing program investment to shareholder value.

Brand Knowledge: Consumer perceptions, beliefs, and attitudes towards a brand, encompassing
brand awareness and brand image.

Brand Management Process: A strategic approach involving analyzing, planning, implementing, and
controlling marketing activities to create, build, and maintain a successful brand.

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 STARTEGIC MANAGEMENT

APPLY VIRO FRAMEWORK FROM ANY COMPANY IN AUTOMIBILE SECTOR

ELABORATE THE IMPORTANCE OF ORGANISATION CULTURE

BASIS FOR JOB DESCRIPTION JOB SPECIFICATION

COMPARISON

Meaning Job Description is a concise written The statement which explains the
statement, explaining about what are minimum eligibility requirements, for
the major requirements of a particular performing a particular job is known as Job
job. Specification.

Lists out Job title, duties, tasks and Employee's qualification, skills and
responsibilities involved in a job. abilities.

What is it? It expresses what a prospective It expresses what an applicant must

employee must do when he will get the possess for getting selected.
placement

Prepared from Job Analysis Job Description

Describes Jobs Job Holders

Comprises of Designation, place of work, scope, Educational qualifications, experience,

salary range, working hours, skills, knowledge, age, abilities, work
responsibilities, reporting authority etc. orientation factors, etc.

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