Company Brands have less freedom than new brands, as the Brand becomes the company spokesperson. If a perfect fit does not exist between brand and the company a bridge by way of company culture must be formed. Relationship between brand and company may be switched over time to take advantage of the favorable feedback. Continuous and selective brand innovation is necessary if cheaper brands are not to take over – e.g. Gillette's R&D spend –3.2% of sales.
[...] Its vision (of the product category) Its standpoint (from where does the brand speak) Its values (culture) Its mission (in the market place) Its know-how Its typical products and actions (that embody values and vision) Its territory (the category) Its style and language (stylistic manifestation) Its reflection (aspirational image of consumers) Transfer of Corporate Identity to Brand identity Company Brands have less freedom than new brands, as the Brand becomes the company spokesperson If a perfect fit does not exist between brand and the company a bridge by way of company culture must be formed Relationship between brand and company may be switched over time to take advantage of the favorable feedback Transfer of Corporate Identity to Brand identity through a bridge - culture the ‘source values' Choosing the Product To be Presented Products that best epitomize visibly the brand's identity, intentions / potential Design - the outward expression of the brand spirit Product features / services that have strategic traits / the brand ideology On less typical products the brand association may be used only for endorsement Choosing a Name Brand's scope in space and time must be considered future product lines, global markets to be covered The name should distinguish (not describe) a product convey the brand spirit / the product difference e.g. [...]
[...] Horlicks Return to ones original vocation Cut costs that do not add value Benchmark and reengineer Eliminate marginal products in extended lines Maintain Main Stream Price Price premium cannot exceed the perceived value of the brand For non-luxury goods price should operate within the acceptable category price range Lowering prices can jeopardize profitability of the entire sector e.g, Cider breweries in France A leader brand should Have a higher standard of quality than the others and enlarge the market Renovate and Innovate Continuous and selective brand innovation is necessary if cheaper brands are not to take over e.g. [...]
[...] The environment at the retail outlet Interaction with staff and after sales service Range in keeping with the image of the channel Invest in Communication Communication unveils what is intangible about the brand, the positioning (territory and differences) and builds a brand reputation It creates a relationship with the brand rational and emotional Reinforce Brand Loyalty (Customer Equity) Loyal customers spend more, are less sensitive to price over time increase spends. Hence the need for loyalty programs Defensive strategy –identification of the cause of disloyalty product / service element and addressing the issue Offensive strategy relationship marketing (personal attention customized to be efficient ) Data base marketing focusing on heavy users Create Entry Barriers Through - Reduced cost of production Technology and quality improvement Putting a name on the product itself Controlling distribution Range of extensions to occupy all promising concepts Domination through image and communication Controlling the [...]
APA Style reference
For your bibliographyOnline reading
with our online readerContent validated
by our reading committee
