MSc Marketing Management/Analytics: Brand Management (summary lectures)

BRAND MANAGEMENT
MSc Marketing Management



INHOUDSOPGAVE

TOPIC 1: BRAND MANAGEMENT ................................... 2 TOPIC 4: BRAND CONCEPTS......................................... 26

BRANDING PHILOSOPHY ....................................................... 2 BRANDS IN OUR MIND ....................................................... 26
BRAND.............................................................................. 3 ASSOCIATIVE NETWORKS .................................................... 26
CUSTOMER VALUE .............................................................. 3 BRAND ASSOCIATIONS ....................................................... 26
VALUE PROPOSITION ........................................................... 3 BRAND ASSOCIATION CLASSIFICATION ................................... 28
WHY ARE BRANDS IMPORTANT FOR CONSUMERS/PRODUCERS? . 3 BRAND KNOWLEDGE (COGNITIVE) ....................................... 28
CHALLENGES AND OPPORTUNITIES ......................................... 4 BRAND FEELINGS (AFFECTIVE) ............................................. 30
CUSTOMER-BASED BRAND EQUITY (CBBE) ............................ 5 BRAND BEHAVIOR (CONATIVE) ............................................ 31
BRAND EQUITY CONCEPT ..................................................... 5 BRAND MEANING (COGNITIVE à AFFECTIVE) ........................ 32
BRAND MANAGEMENT GOALS.............................................. 5 BRAND PREFERENCE (AFFECTIVE à CONATIVE) ..................... 33
STRATEGIC BRAND MANAGEMENT PROCESS ........................... 5 BRAND REPRESENTATION ................................................... 34
BUSINESS VALUE CHAIN ...................................................... 6
SIX DEADLY SINS OF BRANDING .............................................. 6
TOPIC 5: BRAND MEASUREMENT ................................ 35

TOPIC 2: BRAND IDENTITY AND BRAND POSITIONING . 7 BRAND KNOWLEDGE ......................................................... 35
BRAND FEELINGS .............................................................. 38
FOUR CORE DISCIPLINES OF BRANDING ................................... 7 BRAND BEHAVIOR ............................................................. 40
ASPECTS OF BRANDING ........................................................ 7 BRAND MEANING .............................................................. 41
BRAND IDENTITY ................................................................. 8 BRAND PREFERENCE .......................................................... 42
BRAND POSITIONING ......................................................... 11 BRAND REPRESENTATION ................................................... 43
BRAND POSITIONING STATEMENT ........................................ 16
TOPIC 6: BRAND FRAMEWORK .................................... 43
TOPIC 3: BRAND STRATEGY AND TACTICS .................. 16
BRAND MANAGEMENT....................................................... 43
BRAND DYNAMICS ............................................................ 17 BRAND MANAGEMENT....................................................... 44
BRAND HIERARCHY............................................................ 18 MARKETING MANAGEMENT................................................ 44
BRAND EXTENSION ............................................................ 19 PERSUASION MODEL ......................................................... 46
BRAND ALLIANCE .............................................................. 21 ADVERTISING – BRANDING MODELS ..................................... 46
BRAND ELEMENTS............................................................. 23

, TOPIC 1: BRAND MANAGEMENT

In the past
§ Undifferentiable by seller/manufacturer
§ Often sold loose
§ Quality high variable
§ Competitive markets: many sellers for the same commodity

How do I get a buyer to prefer and buy my commodity?
à Differentiate it from competition and make it more attractive
à How? By branding your commodity

What is a brand?
A name, term, sign, symbol or design or a combination of them intended to identify the goods and services of one
seller or group of sellers and to differentiate them from those of competition.

Creates a certain amount of meaning, reputation, preference and so on… in the eyes of the customer.

Product
Anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a need
or want.

4 levels of Products (Levitt)
1. Core product: the functionalities
2. Tangible product: what you can see and experience (e.g. a brand)
3. Augmented product: additional services
4. Total product: gives a certain feeling (benefits)

Perspectives
§ From organizations point of view: physical product (core, tangible and augmented product)
§ From customers point of view: psychological product (total product)

Branding philosophy
1. Product-driven brand philosophy
From the inside-out. Companies produce products.
Product (marketing mix) à defines the brand à boosts sales of consumers à influences the product

2. People driven brand philosophy
From the outside in. People buy brands.
People à define the brand à define the product à recruit people

!! EXAM: Explain the relationship between Levitt vs physical and psychological perspectives vs product- and
people-driven.

Answer: inside-out (product driven) has a physical perspective, includes the first 3 parts of Levitt
(core, tangible, augmented product). Outside-in (people-driven) has a psychological perspective,
includes the last part of Levitt (total product).




BRAND MANAGEMENT 2