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Module – 7 Building Brands & Global Markets Resource Person MATHISHA HEWAVITHARANA MBA (Col),BBA Sp.Mktng (Col), PPG DIP. In Mktng (UK), MCIM (UK), Chartered Marketer (UK), Practicing Marketer (SL), ACMA, CGMA CIMA (UK), DBF (IBSL), AIB (IBSL), MSLIM(SL), Head of Marketing - Siyapatha Finance PLC Chapter Contents Role of Brands Brand Building Measuring & Managing Brand Equity Branding Strategy Global Marketing Global Marketing Strategies Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-3 Chapter Contents Role of Brands Brand Building Measuring & Managing Brand Equity Branding Strategy Global Marketing Global Marketing Strategies Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-4 What Is a Brand? A brand is a name, term, sign, symbol or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors. Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-5 The Role of Brands 1) To create differentiation between products and services 2) To generate a competitive advantage in the market 3) The lifetime of a product can be extended by branding 4) Branding will help the organization to develop a proper positioning strategy 5) A proper branding strategy will improve the profit margins of the organization 6) To facilitate self-selection of products 7) To create brand loyalty Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-6 Arguments Against Branding 1) The management time, effort and cost involved in building a brand 2) A failure of a particular brand may badly influence the other performing brands as well. 3) Changes in the environment may influence the level of importance of a particular brand 4) Branding can lead to over pricing 5) Branding may create an artificial value to the business Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-7 Chapter Contents Role of Brands Brand Building Measuring & Managing Brand Equity Branding Strategy Global Marketing Global Marketing Strategies Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-8 Brand Elements Brand names Slogans Characters Symbols Logos URLs Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-9 The 10 Most Valuable Brands Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-10 Chapter Contents Role of Brands Brand Building Measuring & Managing Brand Equity Branding Strategy Global Marketing Global Marketing Strategies Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-11 Branding Strategies 1) Line Extension 2) Brand Extension 3) Multi Brands 4) Co-Brands 5) New Brands Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-12 Branding Strategies Line Extension This is using the existing brand to create different brands of the same product by changing the aspects like colour, size or shape. Family branding continues to be the favored branding approach for service branding. Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-13 Branding Strategies Brand Extension This is the strategy of using the same brand name to enter into different product types. Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-14 Branding Strategies Multi Brands This is the strategy of operating different brands under different names by the same company in the same market. Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-15 Branding Strategies Co-Brands This is the strategy of developing a particular brand by combining two different attributes to generate a different value and to create a competitive advantage. Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-16 Branding Strategies New Brands This is the strategy of introducing / launching a new brand in order to close a prevailing market gap. Each product of the organization will be given a new brand name. Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-17 Chapter Contents Role of Brands Brand Building Measuring & Managing Brand Equity Branding Strategy Branding & Celebrity Endorsement Global Marketing Strategies Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-18 What Is a Celebrity Endorsement in Branding? Celebrity Branding or celebrity endorsement is a form of advertising or marketing strategy used by organizations which involves celebrities or a well-known person using their social / public status to help promote a product under the assumption that the positive images of the celebrity endorser will also be passed on to the product / Brand. The public personality of the used celebrity must depict similar values / Status to the Brand personality and values. Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-19 Modes of Celebrity Endorsement in Branding Advertising Public Relations Social Media Sales Promotions Product Consumption CSR Activity Involvement Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-20 Advantages of Celebrity Endorsement in Branding Brand Awareness Personality Transfer Brand Positioning Influencing Consumer Buying Behavior Publicity Top of the Mind Recall New Attaction (New Users) Extending the Brand Life cycle Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-21 Disadvantages of Celebrity Endorsement in Branding Brand Dependancy Popularity Co-Relation Image & Reputation co-relation Over Exposure of celebrities (Positionning Confusion ) Deviation from Real Brand performance / Attributes to celebrity attributes Myopic Endorsements Celebrity Trap / Exit Barriers Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. Cultural Sensitivity 1-22 Factors to be Considered in Celebrity Brand Endorsement Matching Celebrity Vs Brand Personality / Values Mass Market Acceptability of the Celebrity Consistency and Long Term Commitment Possibility of Unique Endorsements Timing of Selection & Replacement Trade Mark & Regulatory Considerations Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-23 Chapter Contents Role of Brands Brand Building Measuring & Managing Brand Equity Branding Strategy Branding & Celebrity Endorsement Global Marketing Strategies Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-24 What is a Global Firm? A global firm is one that operates in more than one country and captures R&D, production, logistical, marketing, and financial advantages in its costs and reputation that are not available to purely domestic competitors. Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-25 Major Decisions in International Marketing Deciding whether to go abroad Deciding which markets to enter Deciding how to enter the market Deciding on the marketing program Deciding on the marketing organization Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-26 Reasons for Pursuing Global Markets Better profit opportunities Larger customer base to achieve economies of scale Less dependence on a signal market Desire to counter attack global competitors in their home markets Customers who are willing to consume international products Government policies encourage and incentivize globalization Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-27 Risks to Going Abroad Lack of knowledge of foreign culture Lack of understanding of foreign needs Lack of understanding of foreign regulations Lack of managers with international expertise Changes in the country business environment Lack of competencies Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-28 Chapter Contents Role of Brands Brand Building Measuring & Managing Brand Equity Branding Strategy Global Marketing Global Marketing Strategies Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-29 Five Modes of Entry into Foreign Markets Indirect exporting Direct exporting Licensing Joint ventures Direct investment Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-30 Marketing Aspects to Be Adapted for International Marketing Product features Brand name Labeling Packaging Colors Advertising Materials Sales promotion Prices Advertising media Advertising themes execution Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-31 Chapter Contents Role of Brands Brand Building Measuring & Managing Brand Equity Branding Strategy Global Marketing Global Marketing Strategies Copyright © 2013 Dorling Kindersley (India) Pvt Ltd. Authorized adaptation from the United States edition of Marketing Management, 14e. 1-32 Thank You ! 0773 – 29 20 29 [email protected]