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    Brand 1

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    kuldeep_jain01
    Brand management provides value to customers in several ways. Brands help reduce perceived risk for customers when purchasing expensive or important goods and services. Brands serve various functions for customers including identification, practicality through consistent quality, guarantee of quality, assurance of optimal products, self image, continuity, attractiveness, and responsible behavior. Strong brands with high awareness, positive image, quality perception, and familiarity can command higher prices and greater customer loyalty, leading to increased profits through margins. Successful brand management requires ongoing investment in areas like research and development, quality control, distribution, market research, and communication.

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    Brand 1

    Uploaded by

    kuldeep_jain01
    27 views6 pages
    Brand management provides value to customers in several ways. Brands help reduce perceived risk for customers when purchasing expensive or important goods and services. Brands serve various functions for customers including identification, practicality through consistent quality, guarantee of quality, assurance of optimal products, self image, continuity, attractiveness, and responsible behavior. Strong brands with high awareness, positive image, quality perception, and familiarity can command higher prices and greater customer loyalty, leading to increased profits through margins. Successful brand management requires ongoing investment in areas like research and development, quality control, distribution, market research, and communication.

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    Brand management provides value to customers in several ways. Brands help reduce perceived risk for customers when purchasing expensive or important goods and services. Brands serve various functions for customers including identification, practicality through consistent quality, guarantee of quality, assurance of optimal products, self image, continuity, attractiveness, and responsible behavior. Strong brands with high awareness, positive image, quality perception, and familiarity can command higher prices and greater customer loyalty, leading to increased profits through margins. Successful brand management requires ongoing investment in areas like research and development, quality control, distribution, market research, and communication.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Download as ppt, pdf, or txt
    27 views6 pages

    Brand 1

    Uploaded by

    kuldeep_jain01
    Brand management provides value to customers in several ways. Brands help reduce perceived risk for customers when purchasing expensive or important goods and services. Brands serve various functions for customers including identification, practicality through consistent quality, guarantee of quality, assurance of optimal products, self image, continuity, attractiveness, and responsible behavior. Strong brands with high awareness, positive image, quality perception, and familiarity can command higher prices and greater customer loyalty, leading to increased profits through margins. Successful brand management requires ongoing investment in areas like research and development, quality control, distribution, market research, and communication.

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    CHAPTER 1

    BRAND MANAGEMENT
    A SOURCE OF VALUE FOR CUSTOMER
    • Is it always so? What if you are buying pen,
    pencil, bread, socks, photocopy paper….?
    • Brands exist because of Perceived risk
    • Perceived risk greater for
    – Higher priced g&s
    – Critical g&s like medicines & hospitals
    • Perceived risk evolves overtime depending
    upon
    – Consumers’ level of involvement
    – Credence qualities
    Functions of the brand
    Function Consumer benefit

    IDENTIFICATION To be clearly seen, to make sense of offer, identify sought after


    products
    PRACTICALITY To allow savings of time & energy thru identical repurchasing &
    loyalty
    GUARANTEE To be sure of finding the same quality no matter where or when
    you buy the product or service
    OPTIMISATION To be sure of buying the best product in its category, the best
    performer for a particular purpose
    CHARACTERISATION To have confirmation of your self image or the image that you
    present to others
    CONTINUITY Satisfaction brought about thru familiarity & intimacy with the
    brand that you have been consuming for years
    HEDONISTIC Satisfaction linked to the attractiveness of the brand, to its logo, to
    its communication
    ETHICAL Satisfaction linked to responsible behaviour of brand in relationship
    to society
    From Brand Assets to
    Financial Value
    – Brand awareness +
    – Image+
    – Perceived quality +
    – Evocations +
    – Familiarity, Liking 
    – Brand Added value, perceived by consumers –
    – Costs of branding –
    – Cost of invested capital =
    • Brand financial Value (Brand Equity)
    Principal generators of Brand profitability

    • Price differential allowed as compared to a


    non-branded product
    • Differential of attraction & loyalty
    • Differential margin coming from economies
    of scale & also a consequence of being
    market leader
    Thumb rules
     Brand is not just a name on a product
     It’s a constant investment in
     know-how
     Remaining reference of quality
     Implying promise of tangible & intangible benefits
     Brand is therefore a prerogative of companies
    which can invest in
     R&D
     Productivity
     Total quality control
     Visibility & proximity in distributor’s shelves
     Market research
     Communication

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