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Brand Strategy

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Joe B

on 12 September 2013

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Transcript of Brand Strategy

By: Joe Buccellato
What is Branding?
House of Brands
Endorsed Brands
Subbrands

Set of independent stand alone brands but owned by a major brand, the "driver".
Helps to maximize exposure to the market segments.
Allows for brands to have a dominance in a niche market.
A Branded House
Brand Strategy
The Basics
Branding: An organization that uses a name, phrase, design, symbols, or combination of these to identify its products and distinguish them from those of competitors.


Brand Name: Any word, device(design, sound, shape or color), or combination of these used to distinguish a seller's goods or service.

Trade Name: A commercial, legal name under which a company does business.
Example:


The Coca Cola Company conducts their business under this name even though they own many other brands.


Trade Mark: Identifies that a firm has legally registered its brand name or trade name so that the firm has its exclusive uses, thereby preventing others from using it.
Prevents counterfeit products
Increases brand loyalty
This presentation is here to help you grasp a better concept of Brand Strategy. Some of the topics we will discuss are:
The Basics of Branding
Brand Personality and Brand Equity
Picking a Brand Name
Brand Strategies through brand relationship spectrum.
Strong Brands Presence
You have probably seen this symbol
before on logos or a similar Symbol with the
letters "TM".
Now that you know the basic terms of Branding,
we can dive a little deeper!
Brand Personality and Brand Equity
Brand Personality: A set of human characteristics associated with a brand name.
Can take the form of traditional, romantic, rugged, sophisticated, rebellious etc.
Ex
:
What do you think about when you see or hear the brand
Porsche
?
Masculinity, Sophisticated, Rebellious, Prestigious come to mind?
What about
Victoria Secrets
?
Sexy, Feminine, Adventurous, Individual?
Marketers want their
customers to feel emotions
and feelings when they
think of their brands. This leads into another concept of branding called brand equity.
Brand Equity: The added value a brand name gives to a product beyond the functional benefits provided.
For Example: A person who chooses to buy a Gillette razor vs. a Bic razor. Both products do the same thing and are practically identical. Why does the customer pick the Gillette Razor?
This is the very question marketers have to ask themselves, why is our brand better than some other person's product or brand. By having brand equity linked to your product you are able to charge a premium that customers will pay.
Creating Brand Equity
Step 1: Create Brand AWARENESS.
step 2: Create meaning in the minds of your customers.
Performance related
Brand imagery
Step 3: Consumer response to a brand's identity and meaning.
Step 4: Creating a consumer brand connection through a psychological bond which can lead to customer loyalty.
Lets take a look at the brand
Step 1: Creates awareness through Social media, Motorsport events, Car events, TV Commercials, and Magazines.
Step 2: Performance and Image:
Performance: Strong history in reliability and latest technology through R&D.
Brand Image: Linked to motorsports and peak automobile high performance on the street and the track.
Step 3: Customer Judgement and Feelings:
Judgement: Quality, superiority, credible and honest brand.
Step 4: Customer connection - Brand Loyalty:
SRT creates this connection by giving its brand a face. It cares and listens to its customers.
Offers exclusive events for its customers and makes their customers feel part of the SRT family.
Brand Licensing
Brand Licensing: a contractual agreement whereby one company (Licensor) allows its brand names or trademarks to be used with products or services for a royalty fee.
For example
: SRT uses other popular brands in their products to help attract customers. SRT once used
KICKR
, a popular audio company in their cars and now have partnered up with
PIRELLI
tires.
Picking a Brand Name
Name should suggest the product benefits
The Name should be distinctive, positive and memorable.
The name should fit the company or product.
The name should be simple.
Again lets use the example of SRT to demonstrate a great branding name.

Name suggest product benefits:
SRT stands for Street and Racing Technology
The name suggests the product is built for racing and daily street use.
Name should be positive and memorable:
The positive in SRT is that is sounds like a fun and stylish brand.
SRT is memorable because other brands try to copy it.
When SRT brought back the Charger, Chevy decided to bring back the Camaro.
Name should fit the company or product:
Street and Racing Technology definitely implies automotive.
Name should be simple:
Three memorable letters that identify the brand and four words that describe the mission of the brand. Can't get much more simpler than that.
Now that you know the basics of branding, it is time to move onto the last category of branding, the brand relationship spectrum.
"Simply put, your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from your competitors'. Your brand is derived from who you are, who you want to be and who people perceive you to be" (Williams)
The Brand Relationship Spectrum
Not Conneted
Brands are not necessarily linked nor do the manufactures want you to think they are.
Benefits in niche markets.
Benefits of being able to offer new products.
Minimizes channel conflict.
Shadow Endorser
A brand you have heard of that chooses to use the
non connected house of brands strategy is P&G. P&G owns many brands including Tide, Iams, Puffs and many more. See the rest here: https://www.pg.com/en_US/brands/all_brands.shtml
Some of you may be SHOCKED to see all the brands P&G owns but you would have never guessed it.
Another Brand is VW. VW does not want to be linked
with Audi and Porsche because VW is a lower class automobile while Porsche and Audi are high end. If these brands were linked to VW then Audi and Porsche may lose their brand equity and value.
Brand is not connected visibly to its driver brand, but many customers know about the connection.
Advantage of having a known brand backing the shadow endorsed brand.
Shadow endorsed brand benefits from independence of driver brand.
Represents a different product and market segment than the driver brand.
Brands you may know of are DeWalt and Black & Decker. DeWalt is more for the professional contractor while Black&Decker is more for the DIY home owner. Knowing that B&D backs DeWalt may signify quality, and credibility.
Other brands include:

GAP(DRIVER)
Banana Republic
Old Navy
Levi(DRIVER)
Dockers
Disney(DRIVER)
Touchstone
Pepsi(DRIVER)
Gatorade
Strong Endorsement
Independent Brands
Endorsed by another corporate brand
Creates credibility
The main driver play a minimal role
Linked by "either verbal or visual endorsement" (Hughes).

You may also see endorsements in a form such as, Courtyard by Marriott or Polo by Ralph Lauren.
"When you see a Post-it Note pad you’ll also see a 3M logo"(Hughes) and a Kit Kat bar will have a Nestle logo on it.
Token Endorser
Usually endorsed by a logo or a statement.
The token company or endorser does not get all the attention, the endorsed brand does.
The endorser should be:
Well known
Have a distinct logo
Has many products or brands
Linked Name
A name with common phrases creates a family of brands that represents an endorser.
Provides the benefit of not having to create a new name from scratch and implies that the brand is linked to an endorser.
Example Brands:
McDonalds
McCafe
McNuggets
McMuffin
Nestle
Nestea
Subbrands are linked to a "master" brand.
Extends a master brand into a new market segment.
Master Brand Driver
More emphasis on the master brand than subbrand.
The link between subbrands is closer than it is between an endorsed brand.
Has the affect of either damaging master brand or helping it.
Example Master Brands:
SRT(Master)
Charger SRT
Grand Cherokee SRT
300 SRT
SRT Viper
Adobe
Adobe Photoshop
Adobe Lightroom
Adobe Premier
Adobe Flash
Co Driver
Major emphasis on master brand and co-driver brand.
Each brand does not dominate over each other.
Both brands are equal in quality and image
Creating a co-drive brand can either help brands or weaken them since both are strongly linked to each other.
Customers may use both brands interchangeably.
Example Co-Drivers:
Gillette Mach3
Kleenex Tissue
Some customers may go to the store to buy a tissue and some may go to the store to buy a Kleenex. But they are the same product! Customers will use these brands interchangeably.
**
Takes a master driver and makes it a dominate driver across multiple platforms.
An Umbrella brand
a single brand spread out through different products
Maximizes clarity- Customer knows exactly what they are buying.
Maximizes synergy- As participation in one product market creates associations that can help in another.
Example Branded Houses:
Virgin
Virgin Travel
Virgin Airlines
Virgin Rail
Virgin Mobile
With Virgin you know exactly what you are buying into. Virgin Rail is a railroad service, virgin airlines is an airline service, and Virgin Mobile is a cell phone network service provider. Chances are if you use one of these services you are going to use another one of their services. In other words each brand helps another out and can create brand loyalty.
Work Cited
Williams, J. (n.d.). The basics of branding. Retrieved from http://www.entrepreneur.com/article/77408
Hughes, J. (n.d.). Brand architecture: House of brands or branded house. Retrieved from http://brandestablishment.com/index.php/knowledge_base/testing_knowledge_base/
Manageing successful products, services, and brands. In (2011). R. Kerin, S. Hartley & W. Rudelius (Eds.), MarketingNew York: McGraw-Hill/Irwin.
Aaker, D. A. A., & Joachimsthaler, E. J. (n.d.). The brand relationship spectrum. (2000). California Management Review, 42(4), 8-22.
By now you should have
a better understanding of
branding. As you can see branding
can be a simple yet complex concept, but is an
essential part of a business marketing
strategy.
ALL images from Google Images search
Full transcript