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Chapter 12 Category and Brand Management, Product Identification, and NewProduct Planning Figure Types of Brands Generic Products No name cigarettes Manufacturer Brand Kodak, Heinz Family Brand KitchenAid Appliances, Johnson & Johnson products Private Brand Kenmore, DieHard Cragmont Individual Brand Lever’s Aim, CloseUp & Pepsodent Toothpastes Definition of Brand Equity Brand Equity A brand possesses equity to the extent that consumers are familiar with the brand and have stored in their memory warehouses favorable, strong and unique brand associations Two forms of Brand Knowledge Brand Awareness An issue of whether a brand name comes to mind when consumers think about a particular product category and the ease with which the name is evoked Two forms of Brand Knowledge Brand Image The types of associations that come to the consumer’s mind when contemplating a particular brand Consumer-Based Brand Equity Framework Non-Product-Related (e.g., Price, Packaging, User and Usage Imagery) Brand Recognition Brand Awareness Brand Recall Attributes Types of Brand Associations Benefits Product-Related (e.g., color, size, design features) Brand Knowledge Brand Image Favorability, Strength, and Uniqueness of Brand Association Functional Symbolic Overall Evaluation (Attitude) Experiential Brand Equity Enhancement Brand equity enhanced by: • Name awareness • Positive associations • Perceived quality • Strong brand loyalty The Marketing Communications Decision Process A B C The Marketing Communications Decision Process A B C Monitoring and Managing Environmental Influences Economic Environment Product Decisions Competitive Environment Technological Environment Distribution Decisions Social-Cultural Demographic Environment Promotion Decisions Advertising Personal Selling Sales Promotion Public Point-of-purchase Relations& Direct Communications Sponsorship Marketing Marketing Communications Regulatory Environment Pricing Decisions The Marketing Communications Decision Process A B C Interdependencies among Target Market, Objective, and Budget The Marketing Communications Decision Process A B C The Concept of Brand Equity “Gardenburger’s ad on last episode of Seinfeld pays off big!” The Marketing Communications Decision Process A B C The Marketing Communications Decision Process A B C Enhancing Brand Equity Consumers become familiar with the brand and hold: Favorable associations Strong associations Unique associations Co-Branding and Ingredient Branding Co-Branding • Two or more brands enter into a partnership that potentially serves to enhance both brands’ equity and profitability • An important requirement for successful co-branding : “logical fit between the two brands…” Co-Branding and Ingredient Branding Ingredient Branding • A special type of alliance between branding partners • e.g., “Intel Inside” Figure 12.8 Alternative Product Development Strategies Old Product New Product Old Market Market Penetration Product Development New Market Market Development Product Diversification Cannibalization A loss of sales of a current product due to competition from a new product in the same line. Adoption Process A series of stages through which consumers decide whether or not to become regular users of a new product, including awareness, interest, evaluation, trial, and rejection or adoption. Stages in the adoption process 1. Awareness. Individuals first learn of the new product, but they lack full information about it. 2. Interest. Potential buyers begin to seek information about it. 3. Evaluation. They consider the likely benefits of the product. 4. Trial. They make trial purchases to determine its usefulness. 5. Adoption/Rejection. If the trial purchase produces satisfactory results, they decide to use the product regularly.* Integrated Marketing Communications (IMC) Integrated Marketing Communications (IMC) The process of developing and implementing various forms of persuasive communication programs with customers and prospects over time Key Features of IMC 1. Affect behavior 2. Start with the customer work to company 3. Use all message channels 4. Achieve synergy 5. Build relationships between the brand and the consumer Elements of Marketing Communications Changes in Marketing Communication Practices • Reduced faith in mass media advertising • Increased reliance on highly targeted communication methods • Greater demands imposed on marketing communications suppliers • Increased efforts to assess communications’ return on investment