What is a Brand?
• Predictive level of quality expected from a supplier is a brand
• Making a mistake is expected, however, reaction to the mistake and addressing the consequences of the mistake make the brand stronger; not making mistakes in the fist place
• Segmentation is crucial in brand management
• Escalate the brand in terms of image (status) as well as function
• In 1865 Ivory soap developed by now P&G – they used modern communications to directly communicate with consumers (over passed retailers and wholesalers)
• Consistency of the formula of building a brand and communicating with the consumers (brand leaders of 1925 managed this ...view middle of the document...
This stays in customers’ memory and will hurt them
** One of the dilemmas of brand management is having brand management just situated in the marketing department where it is also in pricing, HR, advertising, etc
Value to the customer/consumer
• Predictable quality of benefit/satisfaction versus expectation and alternatives
• Mental ‘shorthand’ from awareness
• Consistent yet up to date associations to self and others
• Mental blueprint and roadmap
Involvement concept – certain brands we get deeply involved with, build relationship to them, we buy 75% of our stuff based on low-based involvement as we don’t have the time to rationally select and choose between hundreds of products; we skip stages based on preconceived notions (mental shorthand from awareness);
** B2B buying is the same as B2C buying. #1 success factor in B2B is the personality of the sales person
Book: culture and consumption
Value to the brand owner
• Greater likelihood of sales
• Greater likelihood of loyalty
• Greater likelihood of...