Chapter 2 - Brand Management (mktg3501)

User Generated

lvjrvyvh

Writing

Temple University

Description

What role does a product's package play in the marketing program? Give an example of a brand you feel does an effective job in carrying through the "creative" from its IMC campaign components such as their web site, TV commercials, print ads, radio ads. outdoor ads, search engine ads, mobile promotions, etc. to the "point of sale" experience which could be online and/or in-store. Your example(s) must be "new" and not a reiteration of the example(s) discussed in class or in the video recordings.

Reminder: You have one submission attempt. I will use this grading rubric:

Unformatted Attachment Preview

Rubric for Grading Discussion Board Posts Levels of Achievement Criteria Exemplary Proficient Developing Unacceptable Overall Quality and Substance of Post The quality and substance of the post is outstanding. Additional sources (besides the textbook) are cited and used to support insights. Other students will benefit from the content presented. The quality and substance of the post is good. No other sources (besides the textbook) are used to support insights. This is considered an average level post that meets basic requirements. The quality and substance of the post is too generalized and reads like definitions of key terms and concepts. Insights are needed and the content requires more development. The quality and substance of the post is either poor or there is no submission. All key terms/concepts are clearly identified and directly relate to the original post question and to the associated chapter. Excellent organization and topic flow. Some key terms/concepts are identified and closely relate to the original post question and to the associated chapter. Good organization and topic flow. One key term or concept is identified and somewhat relates to the original post question and to the associated chapter. Organization and topic flow need improvement. The post includes content that is overgeneralized and does not directly relate to the key terms/concepts presented in the associated chapter. Organization and topic flow need major improvement. Up to 15 Points Organization and Identification of key terms and concepts Up to 10 Points Total: __________/25 Integrated Advertising, Promotion, and Marketing Communications Eighth Edition Chapter 2 Brand Management Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Chapter Objectives (1 of 2) 1. How does a brand’s image affect consumers, other businesses, and the company itself? 2. What are the different types of brands and brand names? 3. What are the characteristics of effective logos? 4. What elements are involved in identifying, creating, rejuvenating, or changing a brand’s image? Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Chapter Objectives (2 of 2) 5. How are brands developed, built, and sustained in order to build brand equity and fend off perceptions of brand parity? 6. What current trends affect private brands? 7. How can packages and labels support an IMC program domestically and in foreign settings? 8. How are brands managed in international markets? Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Domino’s • New trend – pizza pickup • Added big screen TVs, improved seating, watch pizza preparation • Name changed to Domino’s • New menu items, beyond pizza • Simplified logo Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Chapter Overview • Managing a brand image and logo • Develop and promote brands • Brand equity versus brand parity • Importance of packaging and labels Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Brand image advertisement for Kraft Singles Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Figure 2.1 Components of a Brand Image Tangible Elements Intangible Elements • Goods or services sold • Corporate personnel • Retail outlets where the product is sold • Advertising • Marketing communications • Name and logo • Packaging and labels • Employees – Ideals – Beliefs – Conduct • Environmental policies • Corporate culture • Country location • Media reports Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Role of Brand Image Consumer Perspective • Provides positive assurance – Unfamiliar settings – Little or no previous experience • Reduces search time • Provides psychological reinforcement • Provides social acceptance Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Social acceptance A consumer benefit Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Figure 2.3 Top 10 Corporate Global Brands Rank Company Brand Value (Billions) 1 Apple $170.3 2 Google $120.3 3 Coca-Cola $78.4 4 Microsoft $67.7 5 IBM $65.1 6 Toyota $49.1 7 Samsung $45.3 8 General Electric $42.3 9 McDonald’s $39.8 10 Amazon $38.0 Source: Based on “Best Global Brands, 2015 Rankings,” Interbrand, http://interbrand.com/best-brands/best-globalbrands/2015/ranking/ accessed December 4, 2015. Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Role of Brand Image—Company Perspective • Extension of feelings to new products • Ability to charge more • Consumer loyalty • More frequent purchases • Positive word-of-mouth • Greater channel power • Attracts higher quality employees • More favorable ratings Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Corporate Names • Overt names • Implied names • Conceptual names • Iconoclastic names Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Figure 2.6 Origins of Some Unique Corporate Names • Google–name started as a joke about the way search engines search for information. Word “googol” is one followed by 100 zeros. • Lego–combination of Danish phrase “leg godt” which means “play well” and Latin word “lego” which means “I put together.” • Reebok–alternative spelling of “rhebok” which is an African antelope • Skype–original name was “sky-peer-to-peer,” which was changed to “skyper” then to “skype.” • Verizon–combination of Lain word “veritas” which means “truth” and “horizon” • Volkswagen–created by Adolph Hitler as a car for the masses that could transport 2 adults and 3 children at speeds up to 62 mph. Name means “people’s car.” • Yahoo–word from Jonathan Swift’s book Gulliver’s Travels, which represented a repulsive, filthy creature that resembled a Neanderthal man. Yahoo founders, Jerry Yang and David Filo considered themselves yahoos. Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Types of Brands • Family brands – Multiple products under one brand – Transfer associations • Brand extension – New good or service • Flanker brand – New brand within current category Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Figure 2.8 Brands Sold by Procter & Gamble Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Figure 2.9 Forms of Co-Branding (Alliance Branding) Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Brand Alliance Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Figure 2.10 Tests of Quality Logos and Brand Names • Easily recognizable • Familiar • Consensual meaning – Stimulus codeability • Evokes positive feelings Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Brand Logos • Aids in recall of specific brands • Aids in recall of advertisements • Reduces shopping effort • Reduces search time and evaluation of alternatives Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Figure 2.11 Some of the Oldest Logos Year Company Founded Year Logo First Used John Deere 1837 1876 Coca-Cola 1886 1886 Johnson & Johnson 1886 1886 Union Pacific Railroad 1862 1888 Prudential Life Insurance 1875 1896 Campbell’s Soup 1869 1898 General Electric 1892 1900 Goodyear 1898 1901 Sherwin-Williams 1866 1905 DuPont 1802 1907 Company/Brand Source: Based on Samuel Weigley, Alexander Hess, and Paul Ausick, “The Oldest Company Logos in America,” http://247wallst.com/special-report/2013/06/18/the-oldest-company-logos-in-america, June 18, 2013. Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Figure 2.12 Tips on Creating or Changing Logos • The logo is a reflection of the brand • Creating logos requires knowledge and expertise • Use professional designers • Make the logo simple • Make the logo media transferrable Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved What colors should you use in your logo? (1 of 2) • Black – seriousness, distinctiveness, boldness, power, sophistication, and tradition • Blue – authority, dignity, security, faithfulness, heritage, corporate stability, and trust • Brown/gold – history, utility, earthiness, richness, tradition, and conservative • Gray/silver – somberness, authority, practicality, corporate mentality, and trust • Green – tranquility, health, freshness, stability, and appetite • Orange – fun, cheerfulness, warmth, exuberance, health, and youth Bonus Slide Source: Adapted from “Jared McCarthy, “Logos: What Makes Them Work (Part 1 of 2),” (http://www.marketingprofs.com/5/mccarthy4.asp), February 22, 2005. Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved What colors should you use in your logo? (2 of 2) • Pink – femininity, innocence, softness, health, and youth • Purple – sophistication, spirituality, wealth, royalty, youth, and mystery • Red – aggressiveness, passion, strength, vitality, fear, speed, and appetite • White/silver – purity, truthfulness, faith, contemporary, refined, and wealth • Yellow – youth, positive feelings, sunshine, cowardice, refinement, caution, and appetite Bonus Slide Source: Adapted from “Jared McCarthy, “Logos: What Makes Them Work (Part 1 of 2),” (http://www.marketingprofs.com/5/mccarthy4.asp), February 22, 2005. Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Identifying the Desired Image • Evaluate current image – Ask customers – Ask non-customers • Can be strategic advantage Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Creating the Right Image • Sends clear message • Portrays what the firm sells • Business-to-business may be challenging Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Rejuvenating an Image • Sells new products • Attracts new customers • Retains current customers • Key – Remain consistent with old and new • Takes time and effort Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Figure 2.13 Keys to Successful Image Rejuvenation • Help former customers rediscover the brand • Offer timeless consumer value • Stay true to original, but contemporize • Build a community Source: Based on “Comeback Kids: Haggar, Keds Stage Brand Revival,” Advertising Age, October 30,2011, http://adage.com/print/230721. Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Changing an Image • Extremely difficult • Necessary when target market declines or product no longer matches industry trends • Requires more than advertising • Begins internally – then moves outward Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Developing Strong Brands Begins with understanding why consumers buy a brand. • Where does your brand stand now? • What are your objectives? • What are you doing in terms of building your brand and business? • What are your brand’s strengths? Weaknesses? • Which opportunities should be pursued first? • Where are the pitfalls? Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Figure 2.14 Building Powerful Brands (1 of 2) • Invest in the brand • Create awareness • Offer authenticity or uniqueness • Build trust • Deliver an experience • Offer value • Utilize social media • Utilize mobile phones • Act responsibly Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Figure 2.14 Building Powerful Brands (2 of 2) Skyjacker has built a powerful brand by providing customers with a good experience and delivering value. Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Brand Loyalty • Ultimate objective • Only brand that customers purchase • Drivers of brand loyalty – Emotion – Value • Consumer experience Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Figure 2.15 Top Vehicle Models and Brand Imagery Vehicle Model Percent Loyal Imagery Ford F-150 45% Functional, reliable, leader Honda Civic 40% Sensible, safe, smart Toyota Camry 49% Economical, reliable, conservative Honda Accord 44% Reliable, safe, honest Honda CR-V 44% Sensible, economical, reliable Chevrolet Silverado 1500 62% Safe, honest, functional Toyota Corolla 42% Reliable, safe, functional Ford Escape 54% Technological, sporty, powerful Ram 1500 46% Powerful, sporty, bold Source: Based on “Consumers on the Go: Top 10 Models in 2016,” Advertising Age’s Consumers on the Go Fact Pack, September 28, 2015, page 20. Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Figure 2.16 Top Brands on CLEI Category Top Brand CLEI Emotional Engagement Athletic Footwear Sketchers 86% JP Morgan Chase 79% Car Insurance State Farm 82% Casual Dining Applebee’s 82% Clinique 93% Gasoline Shell 80% Major League Sports NFL 86% Domino’s 84% Subway 95% Diet Coke 89% Bank Cosmetics Pizza Quick Service Restaurant Soft Drinks (Diet) Source: Based on “Brand Keys 2013 Customer Loyalty Index Finds Seismic Shift I How Consumers Emotionally Engage with Products, Services,” Press Release, http://brandkeys.com/wp-content/uploads/2013/02/2013-CLEI-Press-ReleaseFINAL-Overall.pdf Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Brand Equity • Brand parity • Brand equity – Set of characteristics makes brand unique – Helps fight brand parity – Perceived better Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Figure 2.18 Methods of Measuring Brand Equity • Financial value • Stock market value • Revenue premium • Consumer value Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Figure 2.18 Top Ten Most Loved Brands Rank Company Emotional Index 1 Disney 74.7 2 Yahoo! 74.3 3 Google 74.2 4 Sony 74.1 5 Nestle 73.3 6 Auchan 72.9 7 Netflix 72.8 8 Whole Foods 72.7 9 Apple 72.7 10 Lowe’s 72.5 Source: Based on Christopher Heine, “Check Out the Top 100 Beloved Brands,” Adweek, http://www.adweek.com/news/advertising-branding/check-out-top-100-beloved-brands-last-decade153026, October 10, 2013. Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Private Brands • Popularity has fluctuated • Connotation of low price, low quality • Historically → price-sensitive consumers • Retailers investing in private brands • Consumers see few differences Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Figure 2.19 Changes in Private Labels • Improved quality • Perceived as a value purchase • Higher loyalty towards retail outlets and lower loyalty towards specific brands • Used to differentiate retail outlets • Increased advertising of private brands • Increased quality of in-store displays and packaging of private brands Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Advantages to Retailers Private Labels • Higher gross margins • Lower prices • Greater loyalty to stores and brands within a store • Differentiates stores from national brands • J.C. Penney – private labels Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Figure 2.20 Tactics Used by Manufacturers to Combat Private Labels • Focus on core brands • Increase advertising • Introduce new products • Focus on in-store selling, packaging • Use alternative methods of marketing Source: Adapted from Vanessa L. Facenda, “A Swift Kick to the Privates,” Brandweek, Vol. 48, No. 31 (September 3, 2007), pp. 24-28. Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Packaging • Final opportunity to make impression • 69% of purchase decisions made in-store • Have three seconds to catch attention • Must stand out • Tell customers what is inside Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Figure 2.21 Primary Purposes of Packaging • Protect product • Provide for ease of shipping and handling • Provide for easy placement on shelves • Prevent or reduce theft • Prevent tampering (drugs and food) • Meet consumer needs for speed, convenience, and portability • Communicate marketing message Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Labels • Must meet legal requirements • Provide marketing opportunity Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved QR Code for More Information Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Ethical Issues • Brand infringement • Brand name becomes a generic term • Domain or cyber squatting Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved International Implications • Adaptation vs. standardization • Standardization reduces costs • Shrinking world → standardization • High-profile, high-involvement – global brand • Low-involvement products – local brand • Packaging and labeling • Image and positioning issues Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Blog Exercises • Sears • Target • Branding Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Copyright Copyright © 2018, 2016, 2014 Pearson Education, Inc. All Rights Reserved Relate videos: https://www.fox.temple.edu/vault/video/brand-management-part-1/ https://www.fox.temple.edu/vault/video/brand-management-part-2/
Purchase answer to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

...


Anonymous
Great study resource, helped me a lot.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags