Preview
A strong brand's ability to simplify consumer decision making, reduce risk, and set expectations is invaluable.
How to achieve those branding goals?
- To explore the important issues in planning, implementing, and evaluating brand strategies
- To provide appropriate concepts, theories, models, and other tools to make better branding decisions
What is a brand?
According to the American Marketing Association(AMA), a brand is a "name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition." → small b; brand
In fact, however, many practicing managers refer to a brand as more than that
- as something that has actually created a certain amount of awareness, reputation, prominence, and so on in the marketplace → Big B; Brand
실질적으로는 AMA에서 이야기하는 것 이상으로 더 많은 의미가 있다.
Brands versus Products
A product is anything we can offer to a market for attention, acquisition, use, or consumption that might satisfy a need or want. >> just PHYSICAL
We'll discuss the role of brands in some of these different categories in more detail later in this chapter and in chapter 15.
We can define five levels of meaning for a product:
- The core benefit level is the fundamental need or want that consumers satisfy by consuming the product or service.
- The generic product level is a basic version of the product containing only those attributes or characteristics absolutely necessary for its functioning but with no distinguishing features. This is basically a stripped-down, no-frills version of the product that adequately performs the product function.
- The expected product level is a set of attributes or characteristics that buyers normally expect and agree to when they purchase a product.
- The augmented product level includes additional product attributes, benefits, or related services that distinguish the product from competitors.
- The potential product level includes all the augmentations and transformations that a product might ultimately undergo in the future.
A brand is therefore more than a product, because it can have dimensions that differentiate it in some way from other products designed to satisfy the same need.
Why do brand matter?
브랜드에 대해서는 두 개의 시각이 존재한다 consumer의 시각과 manufacturer의 시각
|
Consumers |
Manufacturers |
|
Identification of source of product Assignment of responsibility to product maker Risk reducer Search cost reducer Promise, bond, or pact with maker of product Symbolic device Signal of quality |
Means of identification to simplify handling or tracing Means of legally protecting unique features Signal of quality level to satisfied customers Means of endowing products with unique associations Source of competitive advantage Source of financial returns |
Consumers
The term consumer broadly to encompass all types of customers, including individuals as well as organizations.
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Can everything be branded?
What are the strongest brands?
Branding challenges and opportunities
The brand equity concept
Strategic brand management process
Review
Discussion questions
Brand focus 1.0 historical origins of branding