Brands, Branding,

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Brands, Branding, Consumers
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How We Define Brands

• Brand
• A name, term, sign, symbol or any other feature
  that identifies one sellers good or service as
  distinct from those of other sellers
• Any product-based moniker that represents the
  relationship between marketer and consumer

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The Nature of Brands

• Intangible
• Financial value is implicit vs. explicit
• Values/meanings consumers associate with brands
  are subjective

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The Purpose for Branding

• To differentiate the product in ways that
  distinguish it from its competitors for the
  purpose of making money
• an economic tool that provides value for its
  owner and value for its buyer

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How?

• Performance Attributes
• Image
• Celebrity Endorsers/Personalities
• Value-based associations

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Goals for Branding

• Return on spending investment
• Long-term equity
• Perceived market value
• Durability

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Factors Consumers Use To Assess Brand Value

• Experience
• Brand Messages
• Brand Associations
• Brand Contacts
• Perceptions Attitudes

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And then theres the consumer

• When the points of brand differentiation are also
  important to the consumer, the opportunity for
  brand equity improves
• Brand equity is the extra value associated with
  a particular brand name

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Factors Driving Brand Equity

• Brand Awareness
• knowledge, familiarity
• Brand Loyalty
• -consistency of behavior
• Perceived worth, value

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Controlled Factors Driving Brand Equity

• Brand Associations
• - Events
• - Spokespersons
• - Tag lines
• Proprietary Brand Assets
• Trademarks
• Characters
• Patents

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Things to Understand About Brands Brand Equity

• Legal ownership does NOT gives a marketer carte
  blanc privileges to do what it wills with a
  brand
• Consumers will not commit to a brand ad infinitum
  despite better alternatives

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Things to Understand About Brands Brand Equity

• Successful brands are more about the people who
  make them work than about the entity itself
• Consumers are collaborators in brand creation

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3 Key Components of Strategic Planning

• Brands
• Consumers
• Communications

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How IMC Helps To Build Equity

• Strategic brand communications should be used
  strengthen brand position long term rather than
  as a sole support to short-term efforts.

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IMC Plannings Objective

• The objective behind IMC planning is to develop
  strategies that resonate with the consumer
• Speak to their preferences
• Likes/Dislikes
• Behaviors

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Consequences of Iconic Branding Efforts

• Favorable associations with consumers
• They generate buzz
• The have core consumers with deep emotional
  attachments

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Paths to Branding

• Mind-Share Branding
• Emotional Branding
• Viral Branding
• Cultural Branding

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The Core of Iconic Brands

• Identity myths that resonate with consumers
• Based on cultural relevance story telling
• Mythical brand lore is perpetuated by word of
  mouth
• Consumers choice for a brand is anchored in
  their need to share in the story myth associated
  with that brand

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Mind-Share Branding AmEx

• American Express Karl Malden
• http//www.youtube.com/watch?v1Q_mzLMs9Jc
• http//www.youtube.com/watch?vV59sfNtBE9U

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Emotional Branding Publix

• http//www.youtube.com/watch?vjHkqGgPpQOE
• http//www.youtube.com/watch?vxOpX0EG_KPc

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Viral Marketing Ads

• Diet Coke Mentos
• http//www.youtube.com/watch?v9vk4_2xboOE

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Cultural Branding Corona

• Corona Web Site Change Your Latitude

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Cultural Branding Coca-Cola

• Coca-Cola
• http//www.youtube.com/watch?v6mOEU87SBTU
• http//www.youtube.com/watch?vxffOCZYX6F8

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Cultural Branding Snapple

• http//www.youtube.com/watch?vyMNR2kwPt4o
• http//www.youtube.com/watch?vQendADQSVWg