High Quality Lecture Notes for Brand Management

SMM491 Brand Management and Communication Strategies Week 5 Lecture
Notes


Growing Brands: Limited Options
New Geography Globalisation Globalisation


New Category Grow the Core (Brand Innovation (Brand Stretch)
Extension)
Existing Category Grow the Core Grow the Core (Brand
Extension)
Existing Products New Products




 Grow the Core
o The core of the brand is what made you famous and delivers the most
sales.
o New Category
 Economies of scale can make Core Growth more effective.
o Two Options:
 Grow Penetration
 The secret to penetration gain is to develop ‘memory
structure’ and be top of mind when the consumer has a
‘job to be done’.
 Distinctive assets, like design elements, all help to build
‘memory structure’
 A brand with a strong ‘memory structure’ is most likely to
be on top of mind at the purchase decision moment.
 Brands with strong memory structure gain penetration
and become larger brands.
 Distinctive Product
o Place transformation
o Focused on core elements of the brand
o New options
o Distinctive Identity
o Distinctive Communications
o Distinctive Activation
 Premiumise
 Existing Channels
 New Channels
 Pack Extension
 Product Extension
o The largest brands always have the highest penetration.