MM 5720 Brand Management PDF

MM 5720 Brand Management Course Pre /Co – requisite: Module 3: Brand Elements and Marketing Programs Band Elements and Marketing Programs to Build Brand Equity Prepared by: Romualdo A. Romualdo, MBA, RME 1...

MM 5720 Brand Management Course Pre /Co – requisite: Module 3: Brand Elements and Marketing Programs Band Elements and Marketing Programs to Build Brand Equity Prepared by: Romualdo A. Romualdo, MBA, RME 1 Theme: The Academe Theories Meet the Industry Practice. As the conduct of this course is workshop style, please consider your focus company (or brand), product (and/or service) to be utilized hypothetically for academic purposes only; it aims to enhance the visualization of the topics that are being discussed and support the development of course outputs. Recording is not allowed, thus, everyone is encouraged to be attentive during this onsite class at all times. 2 Three-Year Strategic Brand Planning Framework Company Name: Brand / Product / Service Extension: Fiscal Year: Launch Month (In Trade): PHASE SUB-DIMENSION OF BRAND ACTIONBLE POINTS TIMELINE KEY MEASUREMENT OF BUILDING BLOCKS (What will the team prioritize to (month, year from and to) SUCCESS (could be 3-5 depending on the ensure cascade of the chosen (what are indicators that you are team) sub-dimensions?) successful based from sub- dimensions, actions and timeline) Phase 1: Identity, Who are you? Salience Phase 2: Meaning, What are you? Performance Phase 2: Meaning, What are you? Imagery Phase 3: Response, What about you? Judgements Phase 3: Response, What about you? Feelings Phase 4: Relationships, What about you and me? Resonance 3 Module 6-A: Brand Elements and Marketing Programs Synchronous Asynchronous Individual: Module 6-A: Brand Elements and Marketing Programs to Build Brand Review of provided lecture. Equity Supplementary readings: Criteria for choosing brand elements 8 Impactful Branding Trends for 2022 8 impactful branding trends for 2022 - 99designs Options and tactics: types of brand Eight Branding and Design Trends to Follow In elements. 2022 Eight Branding and Design Trends to Follow In 2022 (forbes.com) Group: CO3 G 25% Alignment and agreement on Brand Elements to be used for Marketing Programs. 4  Learning Objectives 1. Identify the different types of brand elements. 2. List the general criteria for choosing brand elements. 3. Describe key tactics in choosing different brand elements. 4. Explain the rationale for “mixing and matching” brand elements. 5 Keller (2020) Visual Source: Google.com  6 Visual Source: Google.com  7 Visual Source: Google.com Preview Branding elements, sometimes called brand identities, are those trademarkable devices that serve to identify and differentiate the brand. 8 Keller (2020) Visual Source: Google.com  CRITERIA FOR CHOOSING BRAND ELEMENTS 9 Visual Source: Google.com Figure 4.1- Criteria for Choosing Brand Elements Keller (2020) Visual Source: Google.com SIX CRITERIA FOR CHOOSING BRAND ELEMENTS OFFENSIVE ASPECTS Memorability Meaningfulness Likability DEFENSIVE ASPECTS Transferability Adaptability Protectability 11 Keller (2020) Visual Source: Google.com MEMORABILITY ❑Achieve a high level of brand awareness ❑Inherently memorable and attention-getting and facilitates recall or recognition in purchase or consumption situations 12 Keller (2020) Visual Source: Google.com  MEANINGFULNESS ❑Does it have a descriptive meaning and suggest something about the product category? ❑Does it have a persuasive meaning and suggest something about the particular kind of product, or its key attributes or benefits? 13 Keller (2020) Visual Source: Google.com LIKABILITY ❑Is the brand element aesthetically appealing? ❑Is it likable visually, verbally, or in other ways? 14 Keller (2020) Visual Source: Google.com  TRANSFERABILITY ❑How useful is the brand element for line or category extensions? ❑To what extent does the brand element add to brand equity across geographical boundaries and market segments? 15 Keller (2020) Visual Source: Google.com  ADAPTABILITY ❑How updatable is the brand element to account for changes in consumer values and opinions? ❑How flexible is the brand element? 16 Keller (2020) Visual Source: Google.com PROTECTABILITY ❑Is the brand element legally protectable internationally? ❑Can the brand element be formally registered, and can its trademark be vigorously defended from unauthorized competitive infringement? 17 Keller (2014) Visual Source: Google.com OPTIONS AND TACTICS FOR BRAND ELEMENTS 18 Types of Brand Elements Logos and Brand Names URLs Symbols Characters Slogans Jingles Packaging Keller (2020) Brand Names ❑Captures the central theme or key associations of a product in a very compact and economical fashion ❑Most difficult element for marketers to change ❑Closely tied to the product in the minds of consumers ❑Naming guidelines ❑Naming procedures Keller (2020) Visual Source: Google.com Brand Names Naming guidelines ❑Simplicity and ease of pronunciation and spelling. ❑Familiarity and meaningfulness. ❑Differentiated, distinctive, and unique. ❑Brand associations Morpheme: Smallest linguistic unit having meaning. Plosives: The letters b, c, d, g, k, p, and t. Sibilants: Sounds like s and soft c. Keller (2020) Visual Source: Google.com Brand Names ❑ Workshop slide Naming procedure ❑Define objectives ❑Generate names ❑Screen initial candidates Objectives of the product- ❑Study candidate names extension. ❑Research the final Follow the Naming candidates Procedure. ❑Select the final name Keller (2020) Visual Source: Google.com Uniform Resource Locators (URLs) ❑Specify locations of pages on the Web ❑Known as domain names ❑Protect the brands from unauthorized use in other domain names ❑Cybersquatting- Registering, trafficking in, or using a domain name with bad-faith to profit from: ❑The goodwill of a trademark belonging to someone else Keller (2020) Visual Source: Google.com Logos and Symbols ❑Indicate origin, ownership, or association ❑Range from corporate names or trademarks written in a distinctive form, to abstract designs that may: ❑Be completely unrelated to the corporate name or activities Keller (2020) Visual Source: Google.com Logos and Symbols Benefits: ❑Easily recognized and can be a valuable way to identify products. ❑Versatile. ❑Abstract logos offer advantages when the full brand name is difficult to use for any reason. ❑Unlike brand names, logos can be easily adapted over time to achieve a more contemporary look. Keller (2020) Visual Source: Google.com Characters ❑Special type of brand symbol ❑One that takes on human or real-life characteristics ❑Introduced through advertising and can play a central role in ad campaigns and package designs Keller (2020) Characters Benefits: ❑Tend to be attention getting and quite useful for creating brand awareness. ❑Help brands break through marketplace clutter as well as help communicate a key product benefit. ❑The human element of brand characters can enhance likeability and help create perceptions of the brand as fun and interesting. ❑A consumer may more easily form a relationship with a brand when the brand literally has a human or other character presence. ❑Brand characters do not typically have direct product meaning, therefore they can be transferred relatively easily across product categories. Keller (2020) Visual Source: Google.com Characters Cautions: ❑Can be so attention getting and well liked that they dominate other brand elements and actually dampen brand awareness. ❑Must be updated over time so that their image and personality remain relevant to the target market. Keller (2020) Visual Source: Google.com Slogans ❑Short phrases that communicate descriptive or persuasive information about the brand ❑Function as useful “hooks” or “handles” to help consumers grasp the meaning of a brand ❑Indispensable means of summarizing and translating the intent of a marketing program Keller (2020) Visual Source: Google.com Slogans Benefits: ❑Help build brand awareness by making strong links between the brand and the corresponding product category. ❑May serve as tag lines to summarize the descriptive or persuasive information conveyed in the ads. Keller (2020) Visual Source: Google.com Slogans Designing slogans ❑Slogans should be designed in such a way that they contribute to brand equity in multiple ways. ❑Slogans also can contain product- related messages and other meanings. Keller (2020) Visual Source: Google.com Slogans Updating slogans ❑In updating slogans marketers should: ❑Recognize how the slogan is contributing to brand equity, if at all, through enhanced awareness or image. ❑Decide how much of this equity enhancement, if any, is still needed. ❑Retain the needed or desired equities still residing in the slogan as much as possible while providing whatever new twists of meaning are necessary to contribute to equity in other ways. Keller (2020)  33 Visual Source: Google.com Jingles ❑Musical messages written We've Got It All (Lyric Video) | around the brand The SM Store - YouTube ❑Have catchy hooks and choruses that become permanently registered in the minds of listeners Jollibee Song Lyrics | ❑Enhance brand awareness Jollibee Theme - by repeating the brand name YouTube in clever and amusing ways Keller (2020) Source: You Tube Packaging ❑Activity of designing and producing containers or wrappers ❑From the perspective of both the firm and consumers, packaging must: ❑Identify the brand ❑Convey descriptive and persuasive information ❑Facilitate product transportation and protection ❑Assist in at-home storage ❑Aid product consumption Keller (2020) Visual Source: Google.com  Packaging Benefits: ❑Structural packaging innovations can create a point of difference that permits a higher margin. ❑New packages can also expand a market and capture new market segments. ❑Packaging changes can have immediate impact on customer shopping behaviour and sales. Keller (2020) Visual Source: Google.com Packaging Packaging at the point of purchase ❑Many consumers may first encounter a new brand on the supermarket shelf or in the store therefore right packaging can create strong appeal on the store shelf and help products stand out from the clutter. ❑When few product differences exist in some categories, packaging innovations can provide at least a temporary edge on competition. Keller (2020) Visual Source: Google.com Packaging ❑Packaging innovations ❑Can both lower costs and/or improve demand ❑Manufacturers can redesign packages and employ more recyclable materials to lower the use of paper and plastic. ❑In mature markets, package innovations can provide a short-term sales boost. Keller (2020) Visual Source: Google.com  Packaging Package designing ❑Integral part of product development and launch. ❑Specialized package designers bring artistic techniques and scientific skills to package design in an attempt to meet the marketing objectives for a brand. ❑Packaging color affect consumers’ perceptions of the product itself. Keller (2020) Visual Source: Google.com  Packaging Packaging changes ❑Firms change their packaging: ❑To signal a higher price, or to more effectively sell products through new or shifting distribution channels. ❑When a significant product line expansion would benefit from a common look. ❑To accompany a new product innovation to signal changes to consumers. ❑When the old package looks outdated. Keller (2020) Visual Source: Google.com  To Sum up... ❑ Workshop slide ❑Entire set of brand elements makes up the brand identity ❑Cohesiveness of the brand identity depends on the extent to which the brand elements are consistent ❑Each brand element plays a different role in building brand In the Marketing Program per equity, so marketers should CBBE Phase that you will “mix and match” to develop, what kind of brand maximize brand equity identity will you cascade? What are the brand elements will you develop? Keller (2020) Visual Source: Google.com Figure 4.8 - Critique of Brand Element Options Keller (2020) Reference: Keller, K. L., Harlow, V., & Swaminathan, A. (2020). Strategic brand management: Building, measuring, and managing brand equity (5th ed. Global ed.). Pearson Education Limited. Keller, Kevin Lane (2014). Strategic Brand Management, 4th Edition. Pearson Education South Asia Pte. Ltd. Google.com You Tube 43  MM 5720 Brand Management Course Pre /Co – requisite: Module 3: Brand Elements and Marketing Programs Band Elements and Marketing Programs to Build Brand Equity Prepared by: Romualdo A. Romualdo, MBA, RME 44