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Chapter 9

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Department
Administrative Studies
Course
ADMS 2200
Professor
Li Lee
Semester
Winter

Description
CHAPTER 9 BRAND STRATEGY AND MANAGEMENT PREVIEWING THE CONCEPTS – CHAPTER OBJECTIVES 1. define brand, and explain how brand meaning is created and maintained 2. explain how brands are represented, and the role of brand equity and brand personality 3. list and describe the major strategic decisions marketers must make about brands 4. explain how brands are developed and managed, and describe the role of brand communications in the ongoing management of brands JUST THE BASICS CHAPTER OVERVIEW In this chapter, we’ll study how companies develop and manage products and brands. Sometimes the brand name is synonymous with the product or company name, but it’s not just products that can be branded. Marketing is all about building brands that connect deeply with customers. ANNOTATED CHAPTER NOTES/OUTLINE INTRODUCTION Sleeman: Notoriously Good Since 1834 Brand managers try to associate their brands with powerful emotions that bring the brand to life in the mind of the consumer, and establish a clear and unique positioning. That’s particularly difficult to do for a product like beer. Sleeman has built a brand around the word notorious and a dangerous heritage. At least that is the image. “We haven’t hidden the fact that my grandfather’s brothers got caught smuggling,” says Sleeman, though he adds that the familyis not particularlyproud of it. Sleeman’s clear glass bottle initially doubled packaging costs and increased quality control expenses, however, in the years before the company could afford to advertise, the bottles got the beer noticed. According to Statistics Canada the beer industry provides approximately 200 000 jobs and contributes $2 billion per year to the country’s economy. In 2006, Sapporo Breweries purchased Sleeman. With this new financial support, Sleeman hired advertising agency Dentsu Canada for a brand positioning project, and after two years of working on it, the “Notorious” strategy was born. . Five years after the merger with Sapporo, the Sleeman brand name is still going strong. WHAT IS A BRAND? A bbrands a name, term, sign, symbol, or design, or a combination of these, that identifies the maker or seller of a product or service. A brand may identify one item, a familyof items, or all items of that seller. Brands are powerful. Brands have status and value. Brands have personality, and so they involve our emotions as consumers, and as human beings. Brand Meaning Trademarks and logos often represent brands, yet the meaning of a brand encompasses much more than just a logo. Customers attach meanings to brands and develop brand relationships that go well beyond a product’s physical attributes. Brand Relationship Brands represent consumers’ perceptions and feelings about a product and its performance. “Products are created in the factory, but brands are created in the mind.” Brand Advocacy Brand advocates tcustomers, employees, and others who willingly and voluntarily promote their favourite brands. How can it be created and used effectively? Interbrand offers the following suggestions: 1. Advocacy begins with trust: build trust by nurturing recommendations and opinions. 2. Advocacy starts close to home: brands must start by creating advocates in the world around them. 3. Make customers and employees part of the brand story: transforming customers and employees into advocates puts them at the heart of the brand. 4. Deliver an experience that gets them talking: loyalty is not enough, because loyalists can be quiet and passive. 5. Outperform where they care the most: understand and solve problems; one of the most effective ways to create brand advocates. People as Brands The skilfuluse of marketing can turn a person’s name into a powerhouse brand. . BRAND CHARACTERISTICS Brands also have personality, status, and value (brand equity). Brand Representations Logos can support the brand’s positioning and add personality to the brand. Research shows that even subtle exposure to logos will, over time, influence consumers’ brand choices. Many of the most successful brands are those that have a distinctive personality. Brands have status, that is, they occupy a level of social regard with respect to one another. Brand Equity Brand equity tythe dollar amount attributed to the value of the brand, based on all the intangible qualities that create that value. A measure of a brand’s equity is the extent to which people are willing to pay more for the brand. Advertising agency Young & Rubicam’s Brand Asset Valuator measures brand strength along four consumer perception dimensions: 1. differentiation (what makes the brand stand out) 2. relevance (how consumers feel it meets their needs) 3. knowledge (how much consumers know about the brand) 4. esteem (how highlyconsumers regard and respect the brand). Interbrand evaluates and ranks the top 100 global brands and the top 25 Canadian brands in terms of their value, or brand equity (See Table 9.1). BRANDING STRATEGY The main branding strategy decisions are brand name selection, brand positioning, and brand sponsorship Brand Name Selection Things to consider when coming up with a new brand name: 1. It should suggest something about the type of products it willbrand. 2. It should be easy to pronounce, recognize, and remember. 3. It should be
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