Download - Introduction to Brand-Lecture Notes
1
ks
Advanced Diploma in MarketingAdvanced Diploma in Marketing
and Brand Managementksand Brand Management
Module Introduction to Branding
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Lecture 1Po Leung Kuk Community College Campus
Objectives of This Module
Module Introduction to Branding focuses on the role of branding in marketing management. The module covers the measurement of the
This Module
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success of a brand, critical evaluation of branding strategies, and positioning a brand in the competitive marketplace.
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Structure of This Module
Class Attendance12 Lectures (10% - Class Participation)Two Assignments
Individual Assignment (10% - due Week 6)
This Module
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
g ( % )Group Assignment (Report: 15% - due Week 11; Presentation: 5% - Week 12)
Term-End Examination (60%)
Who am I?My Profile
KS ChanDo and Don’t - My expectation on class, assignments and presentation
Who am I?
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
How about you?NameProfession/Industry
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5 Whys in Brand Management
5 Whys Technique developed by Toyota for Root Cause AnalysisFor example:
Taking Introduction to Branding from Advanced
Brand Management
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Taking Introduction to Branding from Advanced Diploma offered by HKU Space1st Why? Branding is importance to modern
marketing management2nd Why? A good brand can add value to
company3rd Why?.....
Advantages of having a BrandEasy for the seller to track down problems and process ordersProvide legal protection of unique product featuresGive an opportunity to attract loyal and profitable set of
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Give an opportunity to attract loyal and profitable set of customersHelp to give a product category at different segments, having separate bundle of benefitsHelp build corporate imageMinimise harm to company reputation if the Brand fails
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Key to BrandingFor Branding Management to be successful, consumers must be convicted that there are meaningful differences among Brands in the
Key to Branding
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product or service category.Consumer must not think that all brands in the category are the same.
Perception = Value Brand Loyalty: Motivate Desire to PurchasePerceived Quality: Satisfaction, Product Image and Product Quality
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Consumer reasons for Brand ChoicePast experience & Peer Pressure/RecommendationPrice & QualityAdvertising/Media & Rating on Consumer ReportEnvironmental Performance……
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Example: SamsungUntil late-1990s, Samsung was far behind its rivals in both technology and response to market – Samsung was not only a mediocre manufacturer but also a poor marketer. The old identities for Samsung were also associated
ith l d d t f t h l i l l d
Example: Samsung
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with low-end products from a technological laggard. The new identity, by Lippincott Mercer, communicated the added value of a technology leader, while maintaining elements that suggested honestly and longevity – quality that were unchanged. (Perception follows image)
Entering the 2000s, Samsung scores better than its competitors in predicting the future trends, decreasing its response time, and excelling its marketing muscle.Twin strategies of Samsung – Speed and Choice are i l t d i t th d B d I f
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implanted into the revamped Brand Image of Samsung.
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What is Brand and Brand Management?Brand Management?
A Brand is a Name, Term, Sign, Symbol, or Design which is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.The word "brand" is derived from the Old Norse
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
The word brand is derived from the Old Norse word brandr, meaning "to burn (i.e. branding of cattle)". It refers to the practice of producers burning their mark (or brand) onto their properties and products.
Meaning of Brand in Chinese:品牌是通过以上这些要素及一系列市场活动而表现出来的结果所形成的一种形象认知度,感觉,品质认知,以及通过
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
象认 , 觉, 质认 , 过这些而表现出来的客户忠诚度,总体来讲它属于一种无形资产。所以这时候个品牌是作为一种无形资产出现的(http://baike.baidu.com/view/9013.htm?fr=ala0_1_1)
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Source: WorldBrandLab.com
Who owns the brand? ” The real owner of the brand is not the marketing or communication director… The brand is intrinsic to the product or service offered, and the needs to be supported by all operations”.
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pp y pA NAME becomes a BRAND when consumers associate it with a set of tangible and intangible benefits that they obtain from the product or service. It is the seller’s promise to deliver the same bundle of benefits/services consistently to buyers.
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Branding is always a two-way process, a dialogue between suppliers and customers to define a brand’s promise in a workable way. Each side plays a different, but vital, role.Great brands never change and change
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Great brands never change, and change constantly. The core of what appeals to a customer – a brand’s meaning and values, its promise, and the satisfaction it gives – should be consistent, giving customers something to believe in and remain loyal to, over the long term.
The manifestation of a brand – external factors and internal factors – not only can, but must change.Kevin Roberts of Saatchi & Saatchi calls brands “lovemarks” - meaning that the best
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brands lovemarks meaning that the best brand appeal to us because we love what they stand for. People is not always rational, more often emotions drive our behavior, including our purchasing pattern.
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It is a rational and emotional formula based on the sum of trust, relevance, and significance that relates people to a firm, a product, or a service throughout their life.A Manager’s goal must be to build Brand Equity
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A Manager s goal must be to build Brand Equity A Brand can only be strong if it has a strong supply of loyal customersBrand Equity therefore can be defined as a measure of strength of consumers’ attachment to a Brand.
Brand MantrasBrand MantrasA Brand Mantras is an articulation of the ‘Heart and Soul’ of the Brand .
Brand Mantras are short three to five word phrases that capture the
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five word phrases that capture the irrefutable essence or spirit of the Brand Positioning and Brand Values.
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Nike – Authentic Athletics Performance
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Disney – Fun Family Entertainment
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How about HKU Space?
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Brand ElementsBrand ElementsA variety of Brand Elements can be chosen that inherently enhance Brand Awareness or facilitate the formation of strong, favourable and
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formation of strong, favourable and unique Brand Association.
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Brand Elements:Brand NameLogoSymbol
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SymbolCharacterContent and PackagingSlogan
History and Development of Brand ManagementBrand Management
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The first brand-like marks, existing long before industrialisation and the emergence of distinct commercial brands, included monograms, earmarks, ceramic marks, hallmarks watermarks and furniture marks
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hallmarks, watermarks and furniture marks.Brands show origin or ownership of goods.
Brands in the field of marketing originated in the 19th century with the advent of mass production, improvement of transportation and rise of packaged goods. Wh f t i t li d d ti f
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When factories centralised production of household items, some of them branded their logo, extending the meaning of "brand" to that of trademark.Brand value depends on threshold of its target market.
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Also, products were marked by hand which made them difficult to attach values of brand to products in any consistent way. After Industrial Revolution, innovations in
d ti d k i d th
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production, and packaging made the mass branding of goods possible – individual packages of branded goods became available for consumers to buy.Mass production and Expansion of Reach gave birth of Brand Management.
After the Industrial Revolution, manufacturers have bigger capacity, wider market and more diversified customer-base. Manufacturers needed to convince the
k t th t th bli ld l j t
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market that the public could place just as much trust in the non-local product. Heniz, Campbell Soup, Coca-Cola and Quaker Oats were among the first products to be 'branded', in an effort to increase the consumer's familiarity with their products.
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The capacity to flexibly respond to consumer trends has been a part of post-Fordist economic organization since the 1970s.What is the relationship between
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What is the relationship between Unique Selling Points (USPs) and Mass Production?
The period from late-19th century to mid-20th century was characterised by:
increased competition between relatively similar products
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a more systematic use of advertising as well as packaging to make products more attractiveattach various kinds of ‘values’ and associations to their goods for differentiation from competitors.
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From there, manufacturers quickly learned to build their brand's identity and personality, such as youthfulness, fun or luxury. Thi b th ti k
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This began the practice we now know as "branding" today, where the consumers buy "the brand" instead of the product. This trend continued to the 1980s, and is now quantified in concepts such as Brand Value and Brand Equity.
In 1988, for example, Philip Morris purchased Kraft for six times what the company was worth on paper; it was felt that what they really purchased was its brand name
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brand name.On 2nd April 1993, the same Philip Morris reduced RSP of its products. The so-called Marlboro Friday illustrated how erosion of brand power of some megabrands.
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Naomi Klein’s (2000) No Logo drew special attention to the role of branding:
expanded spatial scope of this form of marketing into a wider array of
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g ypublic spaces in the form of sponsorship, ‘viral’ marketing and more elaborate retail sites.
Rivalry between Production and Distribution:
Phase IProcurement
of Raw Materails
Manufacturing of Finished Products Logistics
Manufacturing Distribution Retailing
Procurement of Semi-Finished/Finished Products and Handling of Finished Products
Stocking up and Selling of Finished Products
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Phase IIProcurement of Raw Materails
Phase IIIProcurement of Raw Materails
Logist-ics
Phase IV Logist-ics
Sales Promotion
Manufacturing and Supply Chain
Management Systems
Branding and Development of
Finished Products
Advertising & Promotion
Manufacturing of Finished Products
Branding of Finished Products Logistics Sales Promotion of Finished
ProductsStocking up and Selling
of Finished Products
Manufacturing of Finished Products
Branding of Finished Products
Advertising & Promotion Logistics
Sales Promotion of Finished
Products
Sales Promotion of Finished
Products
Sales Promotion of Finished Products
Merchandising of Finished Products
Logistics Merchandising of Finished Products
Source: Chan, 2008
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The cultivation of more or less abstract values around brands relates to a second new function of branding, which concerns its growing efforts to use
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consumer affect, and socialised forms of exchange more generally, as sources of value.
By the late-1990s, brands and branding had taken on a significant number of new functions:
their status as indicators of ‘origin’ and t f lit di i i h d
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guarantors of quality diminishedThe abovementioned functions are taken place by regulation of public authoritiesBrands: a mean or an end?
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Positioning of Brand in Marketing ManagementMarketing Management
5 Whys on Branding Revisit: What is the Positioning of Brand in Marketing Management?
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Group Discussion: Personal BrandingPersonal Branding
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Takeaway of the LectureTakeaway of the Lecture
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Advanced Diploma in MarketingAdvanced Diploma in Marketing
and Brand Managementand Brand Management
Module Introduction to Branding
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Lecture 2Po Leung Kuk Community College Campus
Review of Lecture OneReview of Lecture One
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Possible Advantages of Branding Strategyof Branding Strategy
Key Brand Strategies:Line Extension – existing brand name extended to new sized in the existing product categoryBrand Extension – brand name extended to new product categories
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categoriesMulti-brand – new brands in the same product categoryNew brand – new product in a different product categoryCo-brand – brands bearing two or more well know brand namesRepositioning of Brand – which might take a few years to face new competition and changing customer preferences
Strategic Brand Management involves the design and implementation of marketing programmes and activities to build, to measure and to manage Brand Equity.Strategic Brand Management process is defined
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Strategic Brand Management process is defined as involving four main steps:
Identifying and Establishing Brand Positioning and valuesPlanning and Implementing Brand Marketing ProgrammesMeasuring and Interpreting Brand Performance Growing and Sustaining Brand Equity
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Recent Developments of Brand Managementof Brand Management
Some key recent developments affecting Brand Management:
Shift in Power in the Value ChainFragmentation of Markets and Media
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Complex Brand Strategies and Relationship
Impacts of Telecommunication RevolutionInternet
Some key recent developments affecting Brand Management:
Intensifying Market Competition – in both Price Competition and other competitive
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pressures:Bias Against InnovationPressure to invest elsewhere – go overseasShort-term pressures
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Some key recent developments affecting Brand Management:
Brand being product-plus (product-driven) to Brand being a concept
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) g p(market-driven) Brand as core competence of company
Seven deadly sins of Brand Management (Keller, K. L., 2003):
Failure to fully understand the meaning of the BrandFailure to live up to the Brand promiseFailure to adequately support the Brand
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Failure to adequately support the BrandFailure to be patient with the BrandFailure to adequately control the BrandFailure to properly balance consistency and changes with the BrandFailure to understand the complexity of Brand Equity Measurement and Management
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Some key strategic brand elements covered by this module include:
brand as corporate strategy/core competence of companyfi t d t
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first mover advantagebrand renewal and revitalisationbrand naming and identitychallenger brandsbrand positioningemotional branding
Some key strategic brand elements covered by this module include:
service brandingbrand alliances/M&A/strategic lli / t hi / b di
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alliances/partnership/co-brandingProtection of Intellectual Property (patents, indigenous knowledge, authenticity and trademarks)Images in conflict - Most corporations’ visual identities were currently created by several different actors, from industrial designers and agencies to freelance graphic designers.
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Brand PowerBrand PowerCustomer will change brands for price reasonsCustomer is satisfied. No reason to change.Customer is satisfied and would take pains to
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get the Brand.Customer values the Brand and see it as a Friend.Customer is devoted to the Brand.
New Brand ChallengesChallenges
Brand Management is as difficult as ever:Savvy ConsumersIncreasing Market CompetitionDecreased effectiveness of traditional marketing tools and emergence of new
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marketing tools and emergence of new marketing toolsComplex Brand and Product Portfolios
Brands are important as ever:Consumer need for SimplificationConsumer need for Risk Reduction
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The Customer/Brand ChallengeChallenge
Marketers should understand their:CustomersBrandsR l ti hi b t th T
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Relationship between the Two
Group Discussion: Branding a NationBranding a Nation
Strategic Brand Management involves the design and implementation of marketing programmes and activities to build, to measure and to manage Brand Equity.Nation branding firstly introduced by Simon
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Nation branding, firstly introduced by Simon Anholt, is theory and practice aiming to measure, build and manage the reputation of countries. It believes that symbolic value of products can affect economic activities of the country in certain extent. How to brand China?
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Briefing on Individual AssignmentIndividual Assignment
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Takeaway of the LectureTakeaway of the Lecture
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Advanced Diploma in MarketingAdvanced Diploma in Marketing
and Brand Managementand Brand Management
Module Introduction to Branding
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Lecture 3Po Leung Kuk Community College Campus
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
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Review of Lecture TwoMental mapsCompetitive frame of referencePoints-of-parity and points-of-differenceCore brand valuesBrand mantra
Mixing and matching of brand elements
KEY CONCEPTSSTEPSIdentify and Establish
Brand Positioning and Values
Plan and Implement d k i
Review of Lecture Two
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Integrating brand marketing activitiesLeveraging of secondary associations
Brand Value ChainBrand auditsBrand trackingBrand equity management systemBrand-product matrixBrand portfolios and hierarchiesBrand expansion strategiesBrand reinforcement and revitalization
Grow and SustainBrand Equity
Brand Marketing Programs
Measure and InterpretBrand Performance
Re-defining BrandRe-defining BrandAuthenticity and RealBrands inhabit categories, but are not really of those categories. A great brand transcends categorization to stand for a
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glarger, abstract meaning.
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On Branding:A composite of how consumers feel about a product, the personality they attribute to it, the trust they place in it. The Relationship between the product and its user the total
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between the product and its user, the total experience a consumer has (Ogilvy & Mather)A Brand is the sum total of a customer’s experience of it – 360 degrees – emotional, sensory, physical contacts. On-going relationships build brands (Brand Week)
Brand EquityBrand EquityBrand Equity stresses the importance of Brand StrategyBrand Equity is said to be the difference between the perceived value and the intrinsic value - at the root of these marketing effects is consumers'
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root of these marketing effects is consumers knowledge on product and brand. Power of a Brand resides in the minds of customers.Brand Equity is defined in terms of the marketing effects uniquely attributable to the Brand.
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Brand Equity needs to be nourished and replenished. If Brand is not well maintained, Brand Equity will be diluted or dissipated.Source of Brand Equity
Brand Image
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Brand ImageBrand AwarenessLearning AdvantageConsideration AdvantageChoice Advantage
Challenges is to ensure customers have the right types of experiences with products and services and their marketing programmes to create the right brand knowledge structures:
Thoughts
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ThoughtsFeelingsImagesPerceptionsAttitudes
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Brand Awareness
Brand Association
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BrandLoyalty
Brand Positive Attitude
Brand Occasional users
Customer-based Brand EquityBrand Equity
ConceptDifferential EffectCustomer Brand KnowledgeCustomer Response to Brand Marketing
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Determinants of Customer-based Brand EquityCustomer is aware of and familiar with the BrandCustomer olds some strong, favourable and unique brand associations in memory
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Customer-based Brand Equity as a ‘Bridge’:
Customer-based Brand Equity represents the ‘added value’ endowed to a product as a
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result of past investments in the marketing of a brand.Customer-based Brand Equity provides direction and focus to future marketing activities.
Benefits of Customer-based Brand Equity:
Enjoy greater Brand Loyalty, Usage and AffinityCommand larger Price Premiums/ Capability of Initiating Price Competition
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Initiating Price CompetitionTrade Leverage - Receive Greater Trade Cooperation and SupportReduced Marketing Costs and Increase Marketing Communication EffectivenessYield Licensing OpportunitiesSupport Brand Extension
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Customer-based Brand Equity Pyramid
Consumer-BrandResonance
Consumer Consumer
INTENSE, ACTIVE LOYALTY
RATIONAL & EMOTIONAL
Brand Equity Pyramid
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Brand Salience
Judgments Feelings
BrandPerformance
BrandImagery
EMOTIONAL REACTIONS
POINTS-OF-PARITY &
POINTS-OF-DIFFERENCE
DEEP, BROAD BRAND
AWARENESS
Salience Dimensions (品牌特征 or品牌顯著性)Depth of Brand Awareness
Ease of Recognition & RecallStrength & Clarity of Category
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Strength & Clarity of Category Membership
Breadth of Brand AwarenessPurchase ConsiderationConsumption Consideration
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Performance DimensionsPrimary Characteristics & Supplementary FeaturesProduct Reliability, Durability and
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ServiceabilityService Effectiveness, Efficiency and EmpathyStyle and DesignPrice
Imagery DimensionsUser Profiles
Demographic & Psychographic characteristicsActual or AspirationalGroup Perceptions – Popularity
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Purchase & Usage SituationsType of Channel, Specific Stories, Ease of PurchaseTime, Location, and Context of Usage
Personality & Values (Sincerity, Excitement, Competence, Sophistication & Ruggedness)
History, Heritage & ExperiencesNostalgia/Sanctuary & Memories
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Judgment DimensionsBrand Equity – Value & SatisfactionBrand Credibility – Expertise, Trustworthiness & Likability
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Trustworthiness & LikabilityBrand Consideration – RelevanceBrand Superiority - Differentiation
Feeling DimensionsWarmthFunExcitement
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ExcitementSecuritySocial ApprovalSelf-Respect
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Resonance DimensionsBehavioural Loyalty – Frequency & Amount of Repeat PurchaseAttitudinal Attachment – Brand Likability
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yand Proud of BrandSense of Community – Kinship & AffiliationActive Engagement – Seeking Information and Joining Gathering
Brand-Product RelationshipRelationship
What is a Product?A Product is any offering by a company to a market that serves to satisfy customer needs and wants.
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Object, Service and Idea which carry Commercial Value.
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Beverage
Water Non-Water
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Non-Alcoholic Alcoholic
Dairy Coffee& Tea Juice Pop Wine Beer Spirits
Brands transform productsConsumers use both tangible and intangibleattributes to decide whether two products are different
Quality and Value
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Brand ImagePerceptions of Brand Users
Intangible AttributesDifficult for Competitors to CopyMore likely to involve consumer emotionally A Product is any offering by a company to a market that serves to satisfy customer needs and wants.
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Should we start with Brand or Product in order to build the business?
Some model answers include:If your products are differentiable, start with them;Always start with brand;
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Always start with brand;Brand and products just cannot be separated from one another.
Which answer is sound to you?
Takeaway of the LectureTakeaway of the Lecture
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41
Advanced Diploma in MarketingAdvanced Diploma in Marketing
and Brand Managementand Brand Management
Module Introduction to Branding
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Lecture 4Po Leung Kuk Community College Campus
Review of Lecture ThreeReview of Lecture Three
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Product Life CycleRelevant issues in PLC analysis
Determining the length and rate of change of the PLCIdentifying the current PLC stage and
Product Life Cycle
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Identifying the current PLC stage and selecting the product strategy that corresponds to that stageAnticipating threats and finding opportunities for altering and extending the PLC
Product Life CycleProduct Lifecycle Management
System Lifecycle Marketing & Sales Engineering Logistics Finance
Ideation (idea generation)
Conceive Ideation Investment
DevelopmentDesign and develop
Concept Design Sourcing
Design Detailed Design Procurement
RealizeProduction,
construction or Advertising Tool Design Purchasing
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Source: http://en.wikipedia.org/wiki/Product_lifecycle
procurementDistribution or
deliveryProduction Planning
Stock control Cash flow
Introduction Service Selling Manufacture Delivery PO SO admin
GrowthOperation,
maintenance and support
Sales Order processing
Maintenance Spare Parts
Mature Redesign Return
DeclineRetirement, phase‐out and disposal
Recycling
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New Product Development (NPD)Most new product development (NPD) is an improvement on existing productsFailure Rate of NPD
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Success Rate of NPD is extremely low –less than 5% of NPD exists after one year launching“You have to kiss a lot of frogs to find a prince”
New Product Development (NPD)New-to-Us vs. New-to-MarketLess than 10% of new products are totally new concepts
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y pObsolescence of Products and Shortening of Product Life Cycle
Technical ObsolescenceMarket/Planned Obsolescence
Merits of NPD
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NPD CycleIdea GenerationIdea ScreeningConcept DevelopmentConcept Testing
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Concept TestingCon-joint Analysis (Valued Attributes by Consumers)Product Design and Branding of ProductBusiness Analysis (Sales Expectation; Breakeven Point and Cash Flow Projection)
Elements of Brand: Intrinsic Attributes of BrandIntrinsic Attributes of Brand
Intrinsic Attributes are those properties of a good or service that, when they are changed, they change the product (Szybillo & Jacoby, 1974).Non-distinguishing Intrinsic Attributes
Found in all branded articles of a product cat
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Found in all branded articles of a product cat.For example, all bottled waters are in PET bottle
Distinguishing Intrinsic Attributes Intrinsic attributes found in particular brand onlySuch as Mineral Water vs. Distilled Water
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Preference or Hierarchy of AttributesAlthough a branded product might have many attributes, only one or part of attributes be relevant to customers.Therefore, customers will rank these attributes
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,according to their own preferences.Irradiation Effect of Intrinsic Attributes
Attributes can influence each otherStudies on User Interface and Consumer Sensory Reflect
Example: Why Benz but not Lexus?
Elements of Brand: Extrinsic Attributes of BrandExtrinsic Attributes of Brand
Extrinsic Attributes are simply all those attributes of a branded article that cannot be considered part of the Intrinsic Attributes.Key elements:
Brand Name
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Brand NameCountry-of-Origin Effect
PackagingInformation Available/DisclosurePriceCorporate Image
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4P/4C and Branding4P/4C and BrandingRevisiting concepts of 4Ps and 4Cs in Marketing Management:
Product CommodityP i C t
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4Ps was coined by Jerome McCarthy in 1960.
Price CostPlace Channel
Promotion Communication
What is Marketing?What is the positioning of Brand Management in Marketing Management?
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STP of MarketingSTP of Marketing“Formula STP (segmentation, targeting and positioning) is the essence of strategic marketing (Kotler, 1994:93)”.Segmenting allows marketers to seek out a group of customers who share a similar set of wants, and “shapes the configuration of the value chain (Porter, 1985:53)“
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
1985:53) . Targeting can make sure that resource is fully utilised and company's objectives are met.Positioning is to let bundle of attributes join to form one concept which aims at capturing the essence of that which the target audience seeks in the product category.
1. Identifysegmentationvariables andsegment the
MarketSegmentation
3. Evaluateattractivenessof eachsegment
MarketTargeting
5. Identifypossible
positioningconcepts for
h t t
MarketPositioning
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segment themarket
2. Develop profiles ofresultingsegments
segment
4. Select thetargetsegment(s)
each targetsegment
6. Select,develop, andcommunicate
the chosenpositioning
concept
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Segmentation and Brandingand Branding
Identifying bases for SegmentationSegmenting the MarketDeveloping Segment Profiles
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Developing measure of segment attractivenessSelecting target segments
Demographic Segmentation –Variables include:
AgeGenderFamily Size or Life Cycle
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Family Size or Life CycleIncome (and Disposable Expenditure)OccupationEducationReligionRaceGenerationNationality
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Behavioural Segmentation –Variables include:
OccasionsBenefitsU St t
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User StatusUsage RateLoyalty StatusReadiness StageAttitude toward Product
Psychographic Segmentation – Divides customers into different groups based on Social Class, Lifestyle and Personality.4 groups of customers:
C tibl Hi hl lik l t it h b d
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Convertible – Highly likely to switch brandsShallow – Not ready to switch but consider alternativesAverage – Comfortable with their choice, unlikely to switch brands in the near futureEntrenched – Loyalty to the Brand, Unlikely to change in the foreseeable future
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Positioning and Brandingand Branding
The Concept of Positioning is promoted by Al Ries & Jack Trout in their epic work,
“Positioning: The Battle of your Mind”.Positioning is to create an identity in target market segment for its product/brand.
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
“Position is not what you do to a product, it is what you do to the mind of a prospect (Ries & Trout, 1972)”Three kinds of Positioning:
Functional PositionsSymbolic PositionsExperiential Positions
How to position a brand in market place?Positioning Choices
Relative Price of the Brand/ProductWe believe pricing create some psychosocial effects to some particular groups of customers
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effects to some particular groups of customers Low-Cost StrategyPremium StrategyPrestige StrategyRemember: NEVER do price cut until all marketing tools are found ineffective
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Positioning ChoicesIts Intrinsic Dimensions
“Water A contains xxxyyyyzzzzz” (Instrumental aspects)“After drinking Water A, you can feel 5 years
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After drinking Water A, you can feel 5 years younger” (impressive aspects)“Mr. aaabbbbccccc is also fan of Water A” (Expressive aspects)
Differences between PLC and Brand Life Cycle is that after the Decline Stage, a brand can re-born through Re-positioning.
The process of creating a perception in the consumer’s mind regarding the nature of a company and its products relative to the competition.
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52
7 ways to achieve effective positioning:
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POSITIONING
Differentiation and Brandingand Branding
Positioning choices (Pricing and Purchase motivation)
Differentiation:functional instrumental
Differentiation:functional impressive or expressive aimed at social
High
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functional instrumental expressive aimed at social recognition
Identification:functional instrumental
Identification:functional impressive or
expressive aimed at no frills
Purchase Motivation
Price
Low
Negative Positive
Source: Riezebus, 2003: 59.
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Brand ImagesBrand ImagesBrand Image is a subjective mental picture of a Brand shared by a group of customersPerceptions, Recognition and Feeling vs. Brand ImageComponents of a Brand Image:
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p gContent of a Brand Image – Manifest and Latent contentsAssociation of Content to Brand ImageImage Forming (Communication, Experiences and Peer Influences)Representation of Brand Image in Memory (Short-term store and long-term store)Image Transfer
Takeaway of the LectureTakeaway of the Lecture
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54
Advanced Diploma in MarketingAdvanced Diploma in Marketing
and Brand Managementand Brand Management
Module Introduction to Branding
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Lecture 5Po Leung Kuk Community College Campus
Review of Lecture FourReview of Lecture Four
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55
Choice of Route for Brand DevelopmentBrand Development
Brand Building is an expensive exercise.Among various Brand Building activities, Advertising is regarded as the most effective mean in promoting Brand among customers.Choice of Route for Brand Development:
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pBudget for Brand Building and ROI of investment
Reach of Target Group and its Market Share TargetSize of Target Market SegmentLevel of Differentiation
How many GRPs are necessary?Share of Voice (SOV) vs. Share of Market (SOM)
High-Budget Route of Brand BuildingBrand Building
A deep-pocket company can afford high-budget route of Brand Building by the means of massive advertising campaign.Objective of advertising campaign is to make clear Brand Positioning to target groups.
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Pull Strategy vs. Push StrategyBrand Life Cycle:
Introduction SamplingDevelopment Advertising on Differential BenefitsMature Advertising against CopycatsDecline Repositioning of Brand
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Low-Budget Route of Brand BuildingBrand Building
For startups or companies without much A&P budget, high-budget route is not an option to them. By making good use of some available marketing tools on hand, such as Brand Name and Packaging Design those companies can also be
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Packaging Design, those companies can also be used for Branding purposes in a certain extent.Remember: all Great Brands are nobody in the very beginning and Goliath is not always the winner.
Low-Budget Route of Brand Building:
Brand NameBrand Name
Joyce and Juliet Principle:A well-chosen Brand Name can transfer associations of the name to Brand Equity –Joyce Principle.
For example, Bonaqua can make customers
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
For example, Bonaqua can make customers associating to high-quality bottled water products
However, an irrelevant Brand Name can also impress customers favourable, provided that sufficient marketing communications have been made.
Yellow Tail and wine?
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Low-Budget Route of Brand Building:
PackagingPackaging
Packaging is not only provide protection and convenience to food products itself, packaging is also a carrier of information, and give cues on natural and quality of the product (Grunert, 2006:164).
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
)Packaging serve logistic functions, marketing functions and also bear eco-friendliness implications; and it also forms part of competitiveness of finished products and companies themselves.
Active and Passive roles of Packaging:Active role of Packaging – when packaging design can contribute to Brand Image
For example, Bonaqua can make customers associating to high-quality bottled water products
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g g q y pPassive role of Packaging – when packaging serve as a signal function for customers to identify the brand at given circumstances
Yellow Tail and wine?
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Packaging design of Absolut Vodka:
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Above-the-Line vs.Below-the-LineBelow-the-Line
Above-the-Line means promotions for enhancing Brand Awareness among mass audience. Therefore, common ATL campaigns involve uses of mass media.
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
While, Below-the-Line promotions target particular groups of customers and affect their intention of making purchase decision.Marketing mix of ATL and BTL for a low-budget route of Brand Building are?
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Qualification Mark and External AccreditationExternal Accreditation
Needs for Qualification Mark and External Accreditation are?3 levels of protected status of foods in the EU:
Protected Designation of Originfood products that are produced within a particular geographical area,
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food products that are produced within a particular geographical area, and must have features and characteristics due to that area;
Protected Geographical Indicationfood products that are produced within a particular geographical area, and with a reputation, features or certain qualities attribute to that area;
Traditional Speciality Guaranteedfood products that are traditional or have customary names and a set of attributes distinguishing from other similar products.
Private BrandPrivate BrandSainsbury’s (UK) started retail labels in 1869, as had the Co-op in France in 1929. The real rise of them in modern times started in the 1920s when retailers noticed a shrinking profit margin for branded goods
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margin for branded goods. According to Strasser (1989), until the mid-1920s they thought they also paid for the advertising costs of national (manufacturer) brands. Wholesalers were even more reluctant, since they were losing their power over branding.
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During the 1970s, retail brands attracted more attention, but they were often regarded as cheap and low-quality products.The French retailer Carrefour, however, was a pioneer in Europe and introduced produits libres
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pioneer in Europe and introduced produits libres(free products) in 1976. These brands were known as banner brands – umbrella brands, and they were a new type of brand. Carrefour wanted to show that their products could be as good as manufacturer’s strong brand but without a brand name and with lower prices.
Generics were seen as extensions of their labels and competed with them and not with the manufacturer brands.The increasing scale and internationalization of retailers has significantly changed their relative
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retailers has significantly changed their relative power with respect to the manufacturers. Retailers are now following the manufacturers and becoming international and multinational retail chains. And in some cases, beginning to exceed considerably the scope and flexibility of today’s multinational brands.
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Private Label Present: Status Reduction (improved); Brand Loyalty toward Manufacturer Reduction; Convenience is the name of the game;
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gWe all love a Bargain; Trading Up (of Private Brand); Involvement’ Freshness;
Health.
Takeaway of the LectureTakeaway of the Lecture
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62
Advanced Diploma in MarketingAdvanced Diploma in Marketing
and Brand Managementand Brand Management
Module Introduction to Branding
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Lecture 6Po Leung Kuk Community College Campus
Review of Lecture FiveReview of Lecture FiveNeeds of
CustomersForms of
WantsAttributesOf Brands
SpecificationOf Products
CompetingN d
CompetingF t
CompetingB d
CompetingS t
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Needs Format BrandSegment
TransformInto
Wants
MarketSegment
ProductCategories
BrandABC$$$
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Brand Name StrategiesStrategies
Monolithic Brand Name Strategy1 Brand Name and 1 Visual Style among various product category
Dualistic Brand Name Strategy
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2 Brand Names for same product categoryMultilitnic Brand Name Strategy
Brands have their own name
Brand Name Strategies of Volkswagenof Volkswagen
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64
Considerations of Deciding Brand NameDeciding Brand Name
Size of Marketing Comm. BudgetLower the budget, Higher Joyce Principle
Brand-Product RelationshipConcerns on Brand Extension and Positioning
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Concerns on Brand Extension and Positioning
Competitive Position of the BrandBrand name in indicating newness to market, class of products and associations
Use in other language areaMeanings of a Brand Name in other languages
Classification of Brand NamesBrand Names
Fictitious
虚构的
Associative
联想的
Suggestive
暗示的
Descriptive
描述性的
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Legal protection Product relatedness
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Fictitious brand names do not refer to the product at all:
The brand name does not refer to the product at all – e.g. Kodak, Rolex
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Name of the family who started the company – e.g. Ford, AddidasName of the place of origin – TabascoForeign names – e.g. Nike, XeroxAbbreviations – e.g. BMW, Fiat
Associative brand names do not directly refer to the product but do contribute to the desired experience of consuming the brand:
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
gFor example, Venetian (casino), Name-of-places (restaurants), After Eight (chocolate mints), Timeout (chocolate snack)
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Suggestive names indirectly refer to the product or the advantages of consuming the product:
Head & Shoulders (dandruff shampoo)
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Head & Shoulders (dandruff shampoo), Crown/Camry/Corolla (automobile), I Kleenex (tissues), Ray-ban (sunglasses)
Descriptive names refer to the functionality of the brand or the tangible advantages of the product:
Bank of China
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Pros: Low consumer involvement/high perceived quality; easy to recognise and understandCons: Boring, difficult to use globally, difficult to protect legally
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Brand Name Development ProcessDevelopment Process
1. Agency briefing: market position and competitors, brand-product relationship, brand-name strategy
2. Creative process: brainstorming
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3. Names tested: strategic criteria, linguistic criteria, legal criteria (5 to 10 brand names)
4. Feasibility research: consumer acceptance tested
5. Brand name choice and registration
Change of Brand NamesNames
Reasons of changing Brand Names:Brand Name Association diminish Brand Value
Kentucky Fried Chicken -> KFCSub-brand’s value exceeds mother brand
Tancho -> Mandom (brand owner of Gatsby)
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Tancho > Mandom (brand owner of Gatsby)Brand ExtensionGoes overseas (pronunciation/positioning)As a result of M&ALegally problematic
Before legal settlement with The Beatles, Apple cannot use its brand to music industries
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Effective Brand NamesNames
Brand names should be emotional for certain productsBrand name should be legally protectableAvoid excessive use of initialsDevelop brand names that are effective
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pinternationallyThe brand name should be simpleThe brand name should be distinctiveThe brand name should be meaningfulThe brand name should be compatible with the product
Effective Brand Names: linguistic aspectslinguistic aspects
Repetition of consonants: KitKat, Range RoverRepetition of vowels: CoronaI iti l l i b d k t h d
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Initial plosives: b, d, k, p, t or hard sounding c or g, Bic, Dior, Gucci, KodakShortening of brand names: Coke, KFC
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Effective Brand Names: Brand AssociationBrand Association
Repetition of consonants - KitKat, Range RoverNames of animals – CrocodileN f f l G t W ll
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Names of famous places - Great WallNames of regions – ChampagneNames of colours - Orange
Brand Name Recognition vs Brand Name Recall
Recognition
vs. Brand Name RecallHigh
Graveyard Brand
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Recall (evoked set)
g(awareness only)
LowLow High
Niche brand
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Brand Name SpectrumBrand Name Spectrum
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Company as brand name
Strong company endorsement
Weak company endorsement
Individual brand name
‘Incomplete’ Brand Name: Principle of ClosurePrinciple of Closure
‘Closure’ implies that consumers tend to perceive an incomplete picture as complete. This can increase consumer involvement and strengthen the
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involvement and strengthen the impact of a brand nameFor example: Esprit, FCUK
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Role of Design inBrand ManagementBrand Management
A package can be more important than the product itself. For some successful products, the package had become the product and brand identity.
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Design as a Brand Instrument can:IdentificationDifferentiationTransfer of Material Brand ValuesTransfer of Immaterial Brand Values
Brand Attributes in which Design playswhich Design plays
Product DesignPackaging DesignCorporate DesignLogo Design
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Logo DesignIdentificationDifferentiationCommunication of Brand ValuesAttractivenessFamiliarity, or elements make customers familiar with
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Shape and ColourShape and ColourShape
“Gestalt Theory” – the whole is greater than the sum of its parts
Colour
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Tint of HueToneBrightness
Evolution of Brands/LogosBrands/Logos
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Source: http://www.instantshift.com/2009/01/29/20-corporate-brand-logo-evolution/
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Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Source: http://www.instantshift.com/2009/01/29/20-corporate-brand-logo-evolution/
Takeaway of the LectureTakeaway of the Lecture
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74
Advanced Diploma in MarketingAdvanced Diploma in Marketing
and Brand Managementand Brand Management
Module Introduction to Branding
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Lecture 7Po Leung Kuk Community College Campus
Review of Lecture SixReview of Lecture Six
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75
Advertising as a Marketing InstrumentMarketing Instrument
Advertising can provide information by making consumers familiar with the brand/brand name;Advertising can highlight the differential
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g g gadvantages of a product;Advertising can act as a reminder on the advantages of the product;Advertising is inciting consumer to purchasing behaviour.
However, please be aware of followings:Advertising might has delayed effect on sales of products;Absolute effect of Advertising indicates
l ti f d i t d l lt i
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
correlation of ad. inputs and sales result is not necessarily in equal portion;Direct result of Advertising depends on execution of Advertising and choice of Advertising means.
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Objectives of AdvertisingAdvertising
Increase brand awareness (and eventually turnover) without altering price dimension of positioning.During Planning Process, identification
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g g ,of prime target audience is important:
Who is the most influential in the decision processWho you think you can influence
Again, we need to rethink: “Pull” vs. “Push”
Customer-focused ObjectivesCentral/High Involvement/Thinking routePeripheral/Low Involvement/Feeling route
Exposure-oriented Objectives
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Exposure oriented ObjectivesIntensive Reach/Frequency/GRP inputs dictates effectiveness
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Functions of AdvertisingAdvertising
Provision of information to customersReminding role of advertisingFamiliarising of the BrandCreation of Brand added value
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Creation of Brand-added valueInciting customers’ purchase behaviour
Two Forms of Advertising ExecutionAdvertising Execution
Informational Advertising (Functional)Product QualityDistinguishing Key Attributes (USPs)“Slice-of-life” advertising
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gTransformational Advertising (Expressive)
Conveying a ‘feeling’ to customersTransforming use experiences in a positive wayIncreasing Psychosocial communicative value of the brand
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Operating Aspects of AdvertisingAdvertising
For informational ad, problem-solving context is effective in attracting target customer groups:
Teaser Ad http://www.youtube.com/watch?v=PbEatXPDkTE
Reason-Why ad http://www.youtube.com/watch?v=3VkTOlVo0kE&feature=related
P t St l Ad
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Presenter-Style Ad http://www.youtube.com/watch?v=0ljL3-u0pcY
Testimonial Ad http://www.youtube.com/watch?v=X5dqU6v4SA8&NR=1
Slice-of-Life Ad http://www.youtube.com/watch?v=wZv44LjztFU
For transformational ad, advertisement should be interesting, easy to identify, and call up for authentic emotion: http://www.youtube.com/watch?v=actzm5fI0d0
The most successfulAdvertising Campaign in
a decadea decadehttp://www.youtube.com/watch?v=m-aQnkyyNIUhttp://www.youtube.com/watch?v=xFzYiLDa6mg&NR=1http://www.youtube.com/watch?v=M1ItxNWf2-k&feature=relatedhttp://www.youtube.com/watch?v=oChEaJskWy0&NR=1
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http://www.youtube.com/watch?v oChEaJskWy0&NR 1http://www.youtube.com/watch?v=t9iyB0gZB2s&feature=related
http://www.youtube.com/watch?v=mggxOaGXh4w&feature=related
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Time Period of Effects of AdvertisingAdvertising
Wear-in of Advertising (An Ad has an effect on the cognitive, affective or behaviourial levels)Wear-out of Advertising (Dissipation of
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g ( pWear-in of Advertising)Longevity of Wear-in depends on:
Numbers of times that a consumer is exposed to an AdAmount of time between exposures to an Ad
Advertising BudgetsAdvertising BudgetsTrade-off among different A&P comboPercentage-of-SalesShare of Voice vs. Share of Market
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80
Evaluating Advertising CopyAdvertising Copy
Consumer JuryPortfolio TestsReadability TestsTheatre TestsLaboratory Stores
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Laboratory StoresWelcome to the real world
Inquiry TestsRecall TestsRecognition TestsSales Tests
Milestones in Media HistoryMedia History
1275 Invention of Paper by Chinese1452 Gutenberg’s Bible printing project1631 First classified ad in a French paper1841 First ad agency born in the US1882 Ivory’s “99 & 44/100% Pure” brand ad1919 Short-wave radio was invented
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
1920s Full-colour ad in magazines in the US1928 Television sets entered household1939 Regular TV broadcast began1954 Regular colour TV broadcast began1972 TV game (“Pong”) was introduced 1986 Dennis Jennings introduced TCP/IP protocols1994 Internet became available to private
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Old Media vs New Mediavs. New Media
“The internet is this big, huge hurricane. The only constant in that storm is the customers.”
Jeffrey Bezos, at interview with
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
y ,Businessweek, 16th Sept
1999.New media are those media only doing some key things “better” than their predecessors.
The expanding capability of New media enlarged the ways marketers can communicate with customers.However, New media also has their own
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
,weaknesses as well as advantages.What is the weaknesses of Internet?
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Story-TellingStory-TellingThree models of asserting expectations about the future based on personal experiences:
Familiarity, Confidence and TrustRelationship between Risk and BrandDeveloping perceptions of trust in symbolic
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Developing perceptions of trust in symbolic brands involves the development of a consumer-brand relationship based largely on personal experience with the Brand.This requires the brand to engage in two-way communications with consumers in building a sense of intimacy – “tell a story”
Every brand needs to tell a story. People love a great story, and the best storytellers have an uncanny ability to forge a personal, emotional bond with
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their audience. The experience of enjoying a good story is a powerful one that pulls in all of our senses so that we feel as if we ourselves are actually living the story.
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Stories helped shape the identity of any entity, gave it values and boundaries and helped established its reputation among rivals
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reputation among rivals“Who we are”“What we stand for”
The “American Dream” is a classic example of a man, who, by working hard goes rags to riches and fulfils his dream
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dream. It continues to seduce people from all over the world who continue to head for America in search of happiness.
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Four elements of Story-Telling
MessageStory-telling is about using stories to communicate messages that reflect positively on the brand. A clearly-defined message is necessaryAmong storytellers the central message or
Story-Telling
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Among storytellers, the central message, or premise of the story, is an ideological or moral statement that works as a central theme throughout the story. Try to stick to one message per story. If you want to communicate more than that, you need to prioritise.
ConflictToo much harmony and not enough conflict makes for a story that is about as exciting as watching paint dry. Conflict is the driving force of a good story No
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Conflict is the driving force of a good story. No conflict, no story. It lies in human nature. Any storytellers get our message across through conflict and its resolution. The greater the conflict the more dramatic the story will be. However, the conflict should not get so over-the-top that it becomes confusing.
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CharacterAlthough conflict marks the turning point in the story, but in order for this conflict to play out, you need a cast of interacting and compelling characters.
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
The classic fairly-tale is build on a fixed structure when each character has a specific role to play in the story, and each person supplements each other and forms an active part of the story. This classic structure (Hero+Supporter+Adversary= Goal+Benefactor+Beneficiary) can be found in storytelling traditions throughout the Western world.
PlotOnce message, conflict and cast of characters are all in place, it is time to think about how story should progress. The flow of the story and its events are vital to the
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
The flow of the story and its events are vital to the audience’s experience. It must have a precise structure to propel it forward and maintain audience interest. Generally speaking a traditional story can be segmented into three parts: Beginning, Middle and End.
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Legal Protection of BrandBrand
Trademark is a distinctive sign or indicator used by an entity to identify that the products to users with which the trademark appears originate from a unique source, and to distinguish its products from those of other entities.
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
A trademark is designated by the following symbols:
™ - for an unregistered trademark used to brand goodsSM - for an unregistered service mark used to brand goods® - for a registered trademark
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What a Trademark coversTrademark covers
Word MarksCombination of CharactersCombination of NumbersWords written in a certain styleL /Sl /C l
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Logo/Slogan/ColourLayout on Packaging/Packaging DesignProduct DesignGesture TrademarkSoundmarkScent Trademark
Trademark InfringementTrademark InfringementGenerally speaking, there are 3 types of Trademark Infringements:
Identical Trademark for the same type of products;Similar Trademark for similar products;
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Similar Trademark for similar products;Completely Different Products
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In mainland China, Trademark Infringements are identified as (http://baike.baidu.com/view/535233.htm?fr=ala0_1):
未经商标注册人的许可,在同一种商品或者类似商品上使用与其注册商标相同或者近似的商标的。该条又可分成四种商标侵权的形式:
被控侵权的商标与注册商标相同,被控侵权商标所使用的商品与该注
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册商标所核定使用的商品也属于同一种类。
被控侵权的商标与注册商标相同,被控侵权商标所使用的商品与该注册商标所核定使用的商品类似。
被控侵权的商标与注册商标近似,被控侵权商标所使用的商标与该注册商标所核定使用的商品属于同一种类。
被控侵权的商标与注册商标近似,被控侵权商标所使用的商品与该注册商标所核定使用的商品相类似。
Takeaway of the LectureTakeaway of the Lecture
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89
Advanced Diploma in MarketingAdvanced Diploma in Marketing
and Brand Managementand Brand Management
Module Introduction to Branding
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Lecture 8Po Leung Kuk Community College Campus
Review of Lecture SevenReview of Lecture Seven
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Instruments of Brand StrategyBrand Strategy
A product conforming to certain quality standardsA legally protected brand name and brand sign
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gA legally protected designBrand value-enhancing marketing communication
Single Brand Strategy - Line Extension- Line Extension
For a well established brand, line extension is a handy way in market penetration:
Vertical Extension – introduction of new product variants on the same price dimensionHorizontal Extension - introduction of new variants
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
which differ from each other on price dimensionObjectives of line extension might be offensive-, defensive- or rejuvenation-oriented.What are disadvantages of a Single Brand Strategy?
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Line Extension over Product Life CycleProduct Life Cycle
Turnover
B
C
D
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Profit
Introduction
TimeGrowth Mature Decline
A
Adoption of InnovationsInnovations
2 5% 13 %
34%Early
majority
34%Late
majority 16%
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2.5%Innovators
13.5%Early
adopters
majority majority 16%Laggards
Time of adoption innovations
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Environment of Brand Management
Legal/Political Economic
Company
GeneralPublic
Brand Management
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Social/CulturalTechnological/
Natural
Competitors
Suppliers Interm-ediaries
Customers
Micro-Environments
Macro-Environments
Competitive Forces ofMichael PorterMichael Porter
Supply Chain Co-operation
BrandingInnovation
Suppliers
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Retailer
Segmentation Targeting Relationship
Branding
Positioning
Innovation
Cost ControlDirect competitors
Customers/ Consumers
Imitatory substitutes
Source: Based on Porter (1985)’s Competition Model
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Three Generic Strategies of Competition
According to Porter, three generic strategies are:
Cost Leadership, Differentiation
of Competition
Firm Infrastructure
Human Resources
Technology Development
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Differentiation,Focus.
Source: Based on Porter (1985)’s Value Chain Model
Supply Chain
Store Location and Design
Marketing and Promotion
Store Operation
Service
Procurement
Multi Brand Strategy -Brand ExtensionBrand Extension
Product Management vs. Brand Management vs. Category Management
Advantages of Category Management:
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g g y gStimulate internal competition towards maximum achievementDevelop a balanced portfolio of brandsKeep cannibalisation between brands minimal
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Advantages of handling a portfolio of brands (Barwise & Robertson, 1992):
Consumers can make a choice among offerings of a single organisationIt can benefit from economies of scale
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Exploitation of multi-brands can result in certain strategic advantages (e.g. barrier of entrance for competitors)Exploitation of multi-brands gives a larger degree of risk spreadSynergy effects from competition among internal brandsInternal competition provides a more solid basis for brand extension
Brands in a Brand PortfolioBrand Portfolio
Point of Connection of AB InBev’s 200+ beer brands over the world:
Type of Brand Bastion Brand Prestige Brand Flanker Brand Fighter Brand
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Sample
Financial Inputs
High High low Moderate
Strategic Importance
High Moderate High High
Management Attention
High Moderate Moderate low
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Brand Portfolio of Accor Group:
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Source: http://www.accor.com
Strategies for building a Brand Portfolioa Brand Portfolio
A company can select combination of different strategies upon market environment:
Strategy SpeedMarket Position Investment
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Brand Development Slow Moderate Moderate
Brand Acquisition Quick High High
Brand Alliance Moderate Low Low
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Rationalisation of Brand PortfolioBrand Portfolio
Backgrounds of Rationalisation of Brand Portfolio since the 1990s:
After consolidation in different market segments, value of a lesser-tier brand diminishes;Brand building is becoming more expensive;
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Brand building is becoming more expensive;Pressure from different stakeholders
Financial evaluation of performance of Brands vs. Strategic objectives of Brands
BCG Growth-Share MatrixGrowth-Share Matrix
20%
AB
C
D
StarQuestion
Mark
Growth Rate
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10%
0 10X1
0.1X
FE
G
Cashcow Dog
Comparative Market Share
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International Aspects ofBrand Portfolio ManagementBrand Portfolio Management
Motives for International Brand StrategyExport (Trading) vs. global marketing developmentFor example: P&G operation and Coca-Cola operations in Japan
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operations in Japan
Standardisation vs. AdaptationDiverging Process and Converging Process
A game of Speed in international marketplace
Takeaway of the LectureTakeaway of the Lecture
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98
Advanced Diploma in MarketingAdvanced Diploma in Marketing
and Brand Managementand Brand Management
Module Introduction to Branding
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Lecture 9Po Leung Kuk Community College Campus
Review of Lecture EightReview of Lecture Eight
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Extension StrategyExtension StrategyFlagship Product vs. Extended ProductsReasons for Extension Strategy
Rate of success of a new brand is low;Marketing costs of a new brand is high;
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g g ;Average marketing communication investments will be lowered;Launching costs of new products is lower;Quicker launching, rejuvenation of mature brands and risk aversion
Critical Success Factors for Extension:Perceived performance of extended must be consistent with flagship brandNo conflict of Psychosocial meaning among flagship brand and extended brands
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g pThe higher the Brand-name awareness of flagship brand, the higher the chance of success of extended brands
Besides, product relatedness and similarity of target groups also affect success of extended brands
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Six applications of Extension StrategyExtension Strategy
Uses of an unique features of flagship brand into extended brandsOffer of same product in another formOffer of complementary productsOffer of substitute products
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Offer of substitute productsApplication of unique expertise into other product categoryUses of brand name/reputation when penetrating into other product category(Source: Riezebos, 2005:221)
Hazards related to Extension StrategyExtension StrategyCannibalisation
Sales of Flagship Brand being affectedNo Transfer of Associations
Extended Product becomes irrelevant in
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the marketNegative Evaluation of extended product
Negative impact onto Flagship BrandBrand Dilution
USP of Flagship Brand diminishes
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Strong Company EndorsementEndorsement
AdvantagesCheaper to introduce new brandsQuicker to introduce new brandsCumulative development of Brand Equity
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DisadvantagesHigh risk exposure, if one brand failsLack of freedom to create a new brandReduces opportunity for diversification
Weak Company EndorsementEndorsement
AdvantagesAllows freedom for creating new brandsMore opportunity for diversificationReduced risk, if new brand fails then little h t i ti b d
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harm to existing brands
DisadvantagesExpensive to introduce new brandsTakes time to build new brand awarenessNo cumulative development of brand equity
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Brand Manager’s Best CardBest Card
A Brand manager can choose from three strategies when launching a new product:
Extension Strategy – new product is launched under an existing brand nameEndorsement Strategy – new product is launched under a new brand name and with endorsement
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under a new brand name and with endorsement from flagship brandMulti-Brand Strategy – new product is launched under a brand new brand
Evaluation Criteria: Fit with existing brand; Marketing Budget; Rate of Success and Negative Spill-over
When facing CrisisWhen facing CrisisA complaint can probably look at being the last chance given by a real customer; and a crisis is the last chance for company to make a change for the better.When reviewing a crisis, company needs to i ti t t f th i i d t
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investigate root causes of the crisis are due to intrinsic attributes of the product (i.e. product tinkering or product tampering is necessary) or because of wanted states of extrinsic attributes (i.e. marketing communication is the key).
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Case Study:Johnson & Johnson and
TylenolTylenolIn 1982, J&J’s Tylenol accounted for 35% in US’s OTC analgesic (and 15% of NCBA of J&J).One individual succeeded in lacing the drug with cyanide. Seven people died as a result and public associated Tylenol as poisonous.
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
J&J recalled all Tylenol from the market and tampered packaging for contamination-proof.Despite fall in sales and costs involved in recall and improvement, J&J won praise for the quick action, and recovered 70% of its market share.
Crisis ManagementCrisis ManagementPlanning
Creating escalation rules for the organisationCreating a Crisis Team
Incident ResponseMaking sure organisation can work properly under a crisisI f ti h ld b th d d l d b th
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Information should be gathered and analyzed by the Crisis TeamCommand, Control and Communication
Business ContinuityPreparing for Disaster Recovery (Backup)Providing a Word about EvidenceCrisis management focuses on long term effect
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Group Discussion: When a Brand lose its shinesWhen a Brand lose its shines
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Takeaway of the LectureTakeaway of the Lecture
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105
Advanced Diploma in MarketingAdvanced Diploma in Marketing
and Brand Managementand Brand Management
Module Introduction to Branding
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Lecture 10Po Leung Kuk Community College Campus
Review of Lecture NineReview of Lecture Nine
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106
Importance of Brand to any organisationto any organisation
Nowadays, Brand is commonly recognised as an important factor determining success of a company, or “lifeblood” of an organisation.At the same time, the increasing market-to-book value of listed companies indicate that over half of
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
value of listed companies indicate that over half of market value of these companies is based on intangible assets:
Brand EquityOrganisational factors and technical superiorityIndustrial factors such as monopolistic rights granted
Among the abovementioned three intangible assets, Brand is regarded as the most important since it is brand-added value contribute to higher top-line of the company (consumers is willing to pa higher price for the product).
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
p g p p )At the same time, companies with high brand equity can enjoy better position in strategic and management advantages.
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Brand Equity revisitedBrand Equity revisitedBrand Equity can be defined as:
Brand Equity is the extent to which a brand is valuable to the organisation; this value can be manifested in term of financial, strategic and managerial advantages.
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
g g
Components of Brand EquityBrand Equity
Generally speaking, brand-added value determines brand equity.However, other factors such as distribution and penetration of products, and price difference are also affecting brand equity of a product
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
also affecting brand equity of a product.Four components of brand equity are known as:
Size of market share (penetration of product)Stability of market share (repeated purchase)Margin/GP of productsRight of ownership related to brand elements
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Brand MonitorBrand Monitor
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Source: Riezebos, 2005:271
Difficulties in measuring Brand EquityBrand Equity
Although psychometric measures of Brand Equity may be compared, theses measures do not necessarily translate to financial performance easily, due to:
They are relative measures
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They are relative measuresDifferent types of measures cannot compare with others directly
Furthermore, these measures do not generate a metric that links Brand Equity to financial performance
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Importance in measuringBrand EquityBrand Equity
By establishing an effective Brand Equity measurement system, it can help the organisation:
Increased effectiveness of marketing organisation and planningROI tracking
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ROI trackingJustification for marketing programs, budgets, and valueImproved marketing resource allocationAccountability to senior management and BOD
Criteria of good measures of Brand Equityof Brand Equity
Similar result should be arrived by different people applying same set of measurementQuantifiable and based on readily available data that can be monitored across brands and product categoriesMeasurements can meet definition of an element of a
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
financial statementA single number, to enable easy tracking and communicationIntuitive and credible to senior managementCalibrated to include market and competitive effectsAllows for comparisons across industries
110
Financial Brand Valuation:M th d b d tiMethods based on consumer perceptions
Indifference MethodBy conducting rounds of testing with consumers on price premium among products, one can decide price premium of each product
Brand/Price Trade-off Method
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Consumers have chance in matching price elements and product attributes. At the end, added price of a product can be determined
Dollar Metric MethodIndicating price premium between branded product and no fill product with same attributes
Financial Brand Valuation:M th d b d ti i i lMethods based on accounting principles
Cost-price approachBrand value is determined by historic costs invested into the Brand
Market-price approachBrand value is determined by replacement costs
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a d a ue s dete ed by ep ace e t costsof brand at market price
Income ApproachBy translating incomes (1- historic earnings and future; 2- net cash value) of brand into present value of Brand Equity
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Financial Brand Valuation:Comparison of two methodsComparison of two methodsMethod Consumer perceptions method Accounting method
ProsGives clear insight into added‐value of brand
Be more 'objective'
Perception is not as objective as price is; and it is difficult to translate them into price
Cost allocation is not as objective as expected
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Cons
No brand stimulation of added value is not realistic as consumers are willing to pay for the difference in reality
Replacement costs cannot be determined in some product category
Consumer perception can consider only one components of brand equity at once
Valuation is difficult if income is not stable
Brand Valuation:InterBrand ApproachInterBrand Approach
InterBrand measure two sets of components:Earnings attributed to the brand: two year weighted average of the earnings attributed to the brandBrand Strength
Market leadershipBrand stability
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Brand stabilityCurrent market prospectBrand extension possibilitiesInternationalisation potentialAdaptability over timeBrand supportLegal protection
Brand strength is correlated to P/E ratio, and then is linked to Brand Earnings via historical data
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Brand AuditBrand AuditWhen measuring Brand Equity, one should:
Conducting brand auditsBrand InventoryBrand Exploratory
Developing tracking procedures
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Developing tracking proceduresDesigning a brand equity management system
Brand Equity ChartersBrand Equity ReportsBrand Equity Overseers
A brand audit is a comprehensive examination of a brand involving activities to assess the health of the brand, uncover its sources of equity and suggest ways to improve and leverage that equityA brand audit requires understanding sources of
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
brand equity from the perspective of both the firm and the consumerSpecifically, the brand audit consists of two activities:
Brand InventoryBrand Exploratory
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Brand InventoryBrand InventoryThe purpose of the brand inventory is to provide a complete, up-to-date profile of how all the products sold by a company are marketed and branded
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
For each product, the relevant brand elements must be identified, as well as the supporting marketing program. This information should be summarised both visually and verbally
Brand ExploratoryBrand ExploratoryThe brand exploratory is research activity designed to identify potential sources of brand equityThe brand exploratory provides detailed information as to what consumers think of and feel about the brandTo allow a broad range of issues to be covered and also permit those issues to be pursued in depth qualitative
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permit those issues to be pursued in-depth, qualitative research techniques are often employed firstTo provide a more specific assessment of the sources of brand equity, a follow-up quantitative phase is often necessary
114
Takeaway of the LectureTakeaway of the Lecture
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115
Advanced Diploma in MarketingAdvanced Diploma in Marketing
and Brand Managementand Brand Management
Module Introduction to Branding
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Lecture 11Po Leung Kuk Community College Campus
Review of Lecture TenReview of Lecture Ten
Analyzing Brand Performance
Product life cycleanalysis
Financialanalysis
Product grid analysis
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Performance
Researchstudies
Standardizedinformation
services
BrandPositioning
maps
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Market Research ABCProcess of conducting market research:
Define the problemDefine the research objectives
Market Research ABC
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jDetermine the sources of informationCollect the informationAnalyse the informationPresent the findings
Market Research:Define the problem
Define the problem:Where are we?How did we get here?Where should we be?
Define the problem
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Where should we be?How would we get there?
117
Market Research:Define the ObjectivesDefine the research objectives:
Research Objectives must be SMART:SpecificMeasurable
Define the Objectives
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MeasurableAttainableRealisticTimely
Market Analysis ABCSome common Strategic Analysis tools are:
PEST AnalysisSWOT Analysis
Market Analysis ABC
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SWOT AnalysisCompetitive Forces Analysis
118
Market Analysis:PEST Analysis
PEST focuses on the political, sociocultural, economic and technological forces at work in the macro-environmental:
PEST Analysis
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What environmental factors are currently affecting the company?
Which are the most important?What new factors may be relevant in
the future?
Market Analysis:PEST Analysis
Typical Political/Legal factors:Change of GovernmentTax PoliciesEmployment Law (minimum wage)T di H R t i ti
PEST Analysis
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Trading Hours RestrictionsPlanning GuidelinesMonopoly LegislationTerms of Trade CodesBargain Offer RegulationsEnvironmental Laws
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Market Analysis:PEST Analysis
Typical Economic factors:GNP TrendsRegional EconomiesDisposable IncomesS i R ti
PEST Analysis
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Saving RatioInterest RatesExchange RatesFuel CostsEmployment LevelsNational/International Competition
Market Analysis:PEST Analysis
Typical Sociocultural factors:Environmentalism/ConsumerismChanging work patternsIncome DistributionH lid d L i Ti
PEST Analysis
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Holiday and Leisure TimeExecrise/Sport ParticipationFood ConcernsLevel of EducationAgeing PopulationDelays in Starting Family
120
Market Analysis:PEST Analysis
Typical Technological factors:High-Tech productsFood processing/presentationInternet/interactive TVEl t i F d T f
PEST Analysis
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Electronic Funds TransferWarehouse TechnologyGreener VehiclesStaellite TrackingInternational TeleconferencingSecurity Technologies
Market Analysis:SWOT Analysis
SWOT Analysis:SWOT Analysis is systematic
evaluation of company’s strengths and weakness. On the top of it, it reviews
SWOT Analysis
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p ,opportunities and threats within the competitive environment.
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Market Analysis:SWOT Analysis
SWOT Analysis:Both Strengths and Weaknesses
are internal factors illustrating company’s strategic capabilities.
SWOT Analysis
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p y g pBoth Opportunities and Threats are
external/uncontrollable factors company can respond to, given its particular Strengths and Weakness.
Market Analysis:SWOT Analysis
Sample: SWOT Analysis for Wellcome:
SWOT Analysis
1) Largest in numbers of outlets
2) Backed by Jardine Group
3) Excellent buying power
1) Small average store size
2) Low Ad Effectiveness
3) Format Innovation
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Strengths Weaknesses
Opportunities Threats
3) Excellent buying power
1) Increasing concentration of mkt
2) Increase of home cooking
1) Popularity of Hi-End retailers
2) Anti-Monopoly Law
3) Ageing population
3) Format Innovation
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Shopper AnalysisShopper Analysis Shoppers are becoming more sophisticated, more educated and more cynicalThey are increasingly postponing their decisions to the point of purchaseThey also make more impulse purchases - this is our
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opportunityThey are more interested in the appearance of products they buyIf in employment they have high disposable incomes but still need to be wooedThe shopping environment is now part of the purchase satisfaction
How Shopper ShopsHow Shopper Shops“Attention Span” is limited, “shoppers” cannot scan everything. They “Chunk” information (5-7max).“Selective perception & decision making”. A process used by “shoppers” that “sorts” and rejects the irrelevant before concentrating on a small number from hich to p rchase Time cons ming
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from which to purchase : Time consuming.“Sort” procedures, if complex, leads to confusion, frustration and brain overload “lock-out”.Memory (limited), visual memory is very limited. High density of brands + complex SKUs adds to this limitation.
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“Shoppers” use cognitive “maps” to aid location instore -(learned behaviour).Shoppers use colour, movement, large vertical blocks as “geographic” cues instore. Strong brands are used as “signposts” to the category.Brand leaders aid shopper location in stores + they are used
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
pp yto identify, provide clarity and give meaning to specific categories (70% chose products via brand leader).Shoppers scan objects around an object they have fixed upon - if relevant they shift their attention.These adjacencies are as relevant between total categories (skin, cosmetics etc), sub categories or even brands within categories. If logical - people cross shop. If illogical people ignore or don’t even see.
Summary of the Module: Characteristics of a Strong
and Enduring Brandand Enduring BrandWhat is a Brand?
How is it represented in memorySocial knowledge structureHow it affects perception and cognition
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
How it is related to the self-concept
Brand equityBrand is “value added” to the product or service
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How do we maximise Brand equity?By analyzing and manage following factors:
The Brand in the environment (Portfolio)The Brand inside the firm (Drivers)The Brand outside the firm (Marketing Research)
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
( g )
Drivers and criteriaOrganisational (Mission, Story, Values)Brand (Principle, Personality, Associations)These are translated into communications by the marketing department, and lived by the employees of the firm
Takeaway of the LectureTakeaway of the Lecture
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
125
Advanced Diploma in MarketingAdvanced Diploma in Marketing
and Brand Managementand Brand Management
Module Introduction to Branding
Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding
Lecture 12 – Group PresentationPo Leung Kuk Community College Campus
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Copyright© Chan Ka Sik 2010. all rights reservedAdvanced Diploma in Marketing/Marketing and Brand Management – Introduction to Branding