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Chapter 8

BUS 343 Chapter Notes - Chapter 8: Betty Crocker, Costco, Boston Pizza


Department
Business Administration
Course Code
BUS 343
Professor
Karen Robson
Chapter
8

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Tuesday, January 19, y
BRANDING - week 7 chapter 8
Bus 343
What is a Brand?
-a name, term, sign, symbol, or design, or a combination of these that identifies the
maker of seller of a product or service
Why we care about brands? DIFFERENTIATION
-brands are more than names or symbols:
-They represent consumers’ perceptions and feelings about a product and its
performance
-They are part of the relationship between a consumer and a company
-Protect market offering - provide legal protection
-Far more than just names and symbols
Brand Characteristics
-Brand are represented by a name, logo, or icon
-Brand Logos
-Logos support the brand’s positioning and add personality
-Companies are redesigning brands and logos to be more approachable, upbeat
and engaging
-Logo can change overtime
-if you can recognize the company logo without the name, it is a very GOOD
SIGN
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Tuesday, January 19, y
-Brands have an additional 3 characteristics
1. Brand Personality
- The total of all brand attributes, and the emotions it inspires in consumers
- If this company were a person, what would the person be like
ex. Google - Happy, Silly Person, Playful Personality
ex. Oreo - Playful, Fun
ex. Duracell - Serious
2. Brand Status
- High Status: Chanel, Rolex, Bentley
- Lower Status: Hyundai, Canadian Tire, Keds
- Do not confuse status with popularity
ex. Keds are popular and low status
ex. Chanel - High Status
3. Brand Value (brand equity)
- The DOLLAR AMOUNT attributed to the value of the brand, based on the
intangible qualities that create the value
- Brand Strength is another measure of brand value, and can be measure
through:
- Differentiation (how a brand stands out)
- Relevance (how the brand meets needs)
- Knowledge (how much consumers know about the brand)
- Esteem (how customers regard/respect the brand)
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Tuesday, January 19, y
Branding Strategy (3 main branding strategy decisions):
1. Brand name Selection
- A BRAND NAME should:
- suggest something about the products (Boston Pizza)
- be easy to pronounce (Tide, Ziploc)
- be distinctive (Google, Blackberry)
- be capable of registration and trademark protection
- be extendable (not tied too closely to one product)
- be pronounceable in many languages
- and not have unfortunate translation on other languages
ex. Bing (microsoft) -> illness (china)
4. Brand positioning
- Brand positioning strategy:
- Determining the intended image of the product or brand relative to
competitors
- The resulting positioning is the target audiences overall impression of
the brand, resulting from brand-related communications
- Can posting things based on attributes/features, benefits, or values/beliefs
- Attributes: light-weight, durable, ingredients
- Benefits: taste, health benefits, sharing/social benefits
- Values: makes me a better person
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