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STRATEGIC BRANDMANAGEMENT

Lecturer

Nguyen Trung Thang, MBA

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What is a Brand?

Definition: A brand is a product that

adds other dimensions that differentiatesit in some way from other products

designed to satisfy the same need.

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Why Do Brands Matter?

CONSUMERS:

Identification of

Source of Product

Assignment of

Responsibility to

Product Maker

Risk Reducer

Search cost Reducer

Promise, Bond, orPact with Maker of

Product

Symbolic Device

Signal of Quality

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Why Do Brands Matter? (2)

MANUFACTURERS:

Means of Identification

to Simplify Handling or

Tracing

Means of Legally

Protecting Unique

Features

Signal of Quality Level

to Satisfied Customers

Means of Endowing

Products with Unique

Associations

Source of Competitive

Advantage

Source of Financial

Returns

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Can Anything Be Branded?

Physical Goods

Services

Retailers and

Distributors

Online Products

and Services

People and

Organizations

Sports, Art and

Entertainment

Geographic

Locations

Ideas and Causes

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Branding Challenges And

OpportunitiesSavvy Customers

Brand Proliferation

Media Fragmentation

Increased Competition

Increased CostsGreater Accountability

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The Brand Equity Concept

Basic Principles of Branding and Brand Equity:

Differences in outcomes arise from the added valueendowed to a product as a result of past marketing activity

for the brand. This value for a brand can be created in many different

ways.

Brand equity provides a common denominator forinterpreting marketing strategies and assessing the value of a

brand.

There are many different ways in which the value of a brandcan be manifested or exploited to benefit the firm.

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Strategic Brand Management Process

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CUSTOMER-BASED BRANDEQUITY

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Sources Of Brand Equity

Brand Awareness

Consequences of

Brand AwarenessLearning advantages

Consideration

advantages

Choice Advantages

Establishing Brand

Awareness

Brand Image

Strength of Brand

Associations Favorability of

Brand Associations

Uniqueness of Brand

Associations

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Building A Strong Brand

The Four Steps of Brand Building:

1. Identity (Who are you?)

2. Meaning (What are you?)

3. Response (What about you?) 4. Relationship (What about you & me?)

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Customer-based Brand Equity

Pyramid

Resonance

Judgments Feelings

PerformanceImagery

SalienceIdentity

Meaning

Response

Relationship

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