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Table of Contents
- Brand positioning is trying to find out the certain market that meet the company needs to increase
- What is “Brand”? and what is the important of brand ?.......................................................................
- ❖ The important of brand....................................................................................................................
- Criticizing the product level................................................................................................................
- ❖ Definition.........................................................................................................................................
- ❖ Criticizing........................................................................................................................................
- Explain the importance of brand in an aspect of consumers and manufacturers..................................
- ❖ Definition.........................................................................................................................................
- ❖ Explaining.......................................................................................................................................
- o Importance of brand in an aspect of consumers...........................................................................
- o Importance of brand in an aspect of manufacturers.....................................................................
- Criticizing the strategic brand management process............................................................................
- ❖ Definition:.......................................................................................................................................
- o Process of strategic brand management.......................................................................................
- ❖ Criticizing........................................................................................................................................
- o Importance of Strategic Brand Management................................................................................
- o How to Manage a Brand Strategically?........................................................................................
- o Advantages of Strategic Brand Management...............................................................................
- Explain why brand equity is a bridge...................................................................................................
- explain and suggest one example about product category structure............................................................. 6. The product category structure is one of the tools that marketer uses to identify the production line,
- of learning advantages, consideration advantages and choice advantages................................................... 7. Creating more brand awareness makes company has more competition advantages, explain why interm
- Defining brand positioning, suggest some ideas that marketers need to know...................................
- the two terms and give one example.......................................................................................................... profit, positioning your brand can be able to find out what is point of difference and points of parity, explain
- Criticizing the criteria for choosing brand elenment......................................................................
- When applying for brand name, evaluating and explain the naming procedure.............................
- Simple test for marketing communication, criticizing the concept:...............................................
- When choosing the IMC, especially advertising, what should the marketer needs to keep in mind.
- Integrated Marketing Communication (IMC) is a technique that marketers use to persuade highest traffic and attention of a consumer, explain some of the marketing techniques to improve consumer recognition and awareness........................................................................................................................ 20
- How would you evaluate the IMC programs?................................................................................ 21
- What is the the qualitative and quantitative research? What kind of information that the marketer can be able to get from that research?..................................................................................................... 22
- Advantages and disadvantages of qualitative research and quantitative research.......................... 23 BRAND MANAGEMENT Thầy Đạt béo Lưu ý thi tự luận 60 phút 1/ Viết ngắn gọn 1 câu 1 trang viết tay. 1 câu viết 10 – 15 phút. 2/ 2 câu đầu khái niệm, phân tích, đánh giá, cho ví dụ (làm trong 30 phút). 3/ Câu 3 tình huống yêu cầu: Kỹ năng, áp dụng (làm trong 30 phút). 4/ Làm bài tự luận xong, app CamScanner -> nộp bảng pdf vô link giám thị gửi. 1. What is “Brand”? and what is the important of brand? Brand is an intangible asset that helps people identify a specific company and its products. This is especially true when companies need to set themselves apart from others who provide similar products on the market, including generic brands. Ex : Advil is a common brand of ibuprofen, which the company uses to distinguish itself from generic forms of the drug available in drugstores. This is referred to as brand equity. A brand is considered to be one of the most valuable and important assets for a company. In fact, many companies are often referred to by their brand, which means they are often inseparable, becoming one and the same. Ex : Coca-Cola is a great example, where the popular soft drink became synonymous with the company itself. This means it carries a tremendous monetary value, affecting both the bottom line and, for public companies, shareholder value. ❖ The important of brand Brands are important because they create value for corporations and individuals. They also provide a competitive edge in the market against an entity's competition. Successful branding augments a company's
Example: Cell phone users are highly satisfied by the offer of increased talk-time at no extra cost. Such unexpected additions add to the loyalty of the customers.
❖ Criticizing........................................................................................................................................
There are 3 issues when applying this product level model to businesses. Firstly, people have different perception on what each tier should have. Consumers have different level of experiencing a product and might not know exactly what to expect. Some will have experience and knowledge of what the product/service category should have while some do not. For instance, if I visit a 5- stars hotel for the first time, then I would be surprised at the level of features being offer to me. On the other hands, experienced travellers might get upset if something is missing from what they expect a 5-stars hotel should have. Secondly, not all features or attributes last in a particular tier forever. Customer expectation of a product changes over time from increased competition. Some attributes from generic level can move to expect produce and vice versa. For example, it has become almost mandatory for hotels to have wifi connection nowadays while it was considered augmented product to have in the past. Also, every time consumer experience a product or service, their expectations gradually increases over time. Finally, many people have difficulty understanding the differences among the tiers. This is not particularly surprising, because many marketing lecturers and websites do not explain and provide clear examples properly.
3. Explain the importance of brand in an aspect of consumers and manufacturers..................................
❖ Definition.........................................................................................................................................
Branding is the perpetual process of identifying, creating, and managing the cumulative assets and actions that shape the perception of a brand in stakeholders’ minds. A good definition of brand strategy is the considered intent for the positive role a company wants to play in the lives of the people it serves and the communities around it
❖ Explaining.......................................................................................................................................
o Importance of brand in an aspect of consumers...........................................................................
1) BRANDS PROVIDE PEACE OF MIND.
Consumers want comfort, happiness, and satisfaction in their lives, and they get it in part through the products they buy. If the brands they use consistently deliver a positive experience, consumers form an opinion that the brand is trustworthy, which gives them peace of mind when buying. 2) BRANDS SAVE DECISION-MAKING TIME. Picking a brand helps reduce the clutter, making it easier to find what you are looking for. 3) BRANDS CREATE DIFFERENCE.
Branding helps define—in an instant, with a minimum of thought—what makes your product different and more desirable than comparable products. 4) BRANDS PROVIDE SAFETY. People, by nature, generally avoid risk and seek safety. Brands offer safety and reduce the risk of disappointment. 5) BRANDS ADD VALUE. Why do consumers pay higher prices for brands compared to unbranded or generic products? Successfully branded products make more money for their companies by commanding premium prices. 6) BRANDS EXPRESS WHO WE ARE. The brands we use make a statement about who we are and who we want to be. People become emotionally attached to the brands they use and view them as part of their self-image. 7) BRANDS GIVE CONSUMERS A REASON TO SHARE. We all have opinions about the things we experience, and we like to share them with others. Whether it’s a good book, a good movie, or a great meal, we become brand advocates when we share positive brand experiences. Strong brands give consumers a reason to share their experiences.
o Importance of brand in an aspect of manufacturers.....................................................................
1) COMSUMER MARKET RECOGNITION
Building awareness is often the first communication goal for a company. If you own a manufacturing company, getting consumers to recognize your brands is a critical step in branding. This helps get you into the consideration set when consumers recognize a problem or a need. 2) DEMAND STIMULATION Once recognized, you want consumers to demand your brand above all others, or in large volume. If consumers want your brand, retailers will want to carry it, and, therefore, wholesalers or distributors will want to buy it from you. Manufacturing branding efforts to consumers is known as pull marketing, because, when effective, motivated consumers essentially pull the brand through the distribution process. 3) TRADE NEGOTIATION POWER Effective branding also gives you greater bargaining power with distributors or retailers, which are the typical direct buyers of manufactured goods. If you have a strong brand name, you typically have more influence to get products on retail shelves and to get the best prices possible from distributors or retailers. 4) FLEXIBILITY
● Brand perception gets improved, and selling power strengthens up ● Allows the company to have an impactful marketing communication ● A company gets less vulnerable to the drastic changes in the industry market ● Increase customer responses and trade cooperation ● It promotes licensing opportunities
o How to Manage a Brand Strategically?........................................................................................
● Understanding the values of a brand in the planning stage and then moving towards the brand’s positioning are the primary steps that are used to manage a brand strategically. ● After which marketing of brand should be effective, and your brand elements should be in such a manner that it can create a lasting impact on consumer’s mind. This process of brand management ends at monitoring and measuring the performance of the brand. ● Managing a brand strategically is not easy. It needs a creative and practical mindset of the marketer and the team members that work together. Every department of the company must work together to achieve the brand’s objective. o Advantages of Strategic Brand Management A strategic brand management system can be very advantageous for a company. The work that is done through a strategic brand management system cannot be replicated manually. There are 3 advantages of a strategy-driven brand management system:
- Ensures Consistency
- Offers an immersive brand experience
- Brand information storage in a secured and synchronized manner ❖ Example One example of strategic brand management is Google. The mission of this tech giant was to make individuals feel more informed and connected. Rather than focusing on the technical part of its product, the marketing team of Google emphasized the ways in which Google is enriching the lives of individuals. This humanized strategy of Google made it a verb for doing online search queries. Here, Google uses the brand’s positioning strategy effectively, and it helps it to become the leader of the search engine. This is how a brand is managed strategically. A company needs to have a focus on all the aspects of strategic management, be it positioning or brand reputation management, or any other aspect. A strategic brand management process should be implemented effectively.
5. Explain why brand equity is a bridge...................................................................................................
Brand equity serves as the bridge between what happened to the brand in the past and what should happen to the brand in the future. The power of a brand lies in the minds of consumers or customers, in what they have experienced and learned about the brand over time. Consumer knowledge is really at the heart of brand equity. ● Reflection of the past Marketers should consider all the dollars spent on manufacturing and marketing products each year not so much as “expenses” but as “investments” in what consumers saw, heard, learned, felt, and experienced about the brand. If not properly designed and implemented, these expenditures may not be good investments, in that they may not have created the right knowledge structures in consumers’ minds, but we should consider them investments nonetheless. Thus, the quality of the investment in brand buildings the most critical factor, not the quantity beyond some minimal threshold amount. In fact, it is possible to “overspend” on brand building if money is not being spent wisely. some brands are considerably outspent but amass a great deal of brand equity through marketing activities that create valuable, enduring memory traces in the minds of consumers. Ex: ● Direction for the future At the same time, the brand knowledge that has been created over time by these marketing investments dictates appropriate and inappropriate future directions for the brand. Consumers, be they individuals or organisations, will decide, based on their brand beliefs, attitudes, etc. Thus, at the end of the day, the true value and future prospects of a brand rest with consumers and their knowledge about the brand and their likely response to marketing activity as a result of this knowledge. Understanding consumer brand knowledge — all the different kinds of things that become linked to the brand in the minds of consumers — is thus of paramount importance as the underpinning and foundation of brand equity. Ex:
explain and suggest one example about product category structure............................................................. 6. The product category structure is one of the tools that marketer uses to identify the production line,
production line, explain and suggest one example about product category structure. Product category structure is an overarching concept that includes all brands or brand lines of a particular industry group to serve the needs of different market segments. Simply put, product category structure includes all the brands offered by a single company to do business to serve the needs of different groups of people. Product category structure are often created because each brand has a certain boundary that it cannot satisfy the needs of all different market segments. The advantage of having product category structure is that it is manageable by tracking brands as a whole and framing policies with a broader view. Alternatively, resources can be allocated to the brand that needs them most. Product categories structure provide a starting point for market segmentation. Product categories help marketers identify potential sources of competition, and by extension, opportunity. Product categories help marketers position their products and promote them more effectively.
Content advertising is on the coronary heart of any business's virtual advertising campaigns. Without appealing marketing and marketing content material, agencies will need to pay excessive and constantly elevated marketing and marketing fees. Businesses additionally can't advantage from marketing and marketing if the internet site does now no longer incorporate thrilling and beneficial content material. Therefore, constructing content material is a priority, that specialize in growing emblem recognition. Businesses want to create content material that offers beneficial, in-intensity facts and brings fee to the community. There are forms of attractive content material that agencies need to bear in mind the use of withinside the close to future: video content material and interactive content material.
- Video Content: These are exceptionally interactive and attractive content material, With the upward push of cellular devices, the internet, many humans can create or watch motion pictures even at the same time as commuting. Video content material is extra bright and attractive, giving a emblem a wonderful face and personality, making it memorable and memorable.
- Interactive content material: Advertising content material is extra than simply messages and posts that agencies supply and direct to clients. Brands can engage with visitors to construct lasting relationships with clients. Use interactive content material as a device to have interaction clients, allow agencies to co-create with them, and boom emblem recall. Interactive content material can revolve round polls, contests, displaying clients they may be usually interested. This motion will make a mark for the emblem, and boom the quantity of interplay with clients extra. 4/ Personification for the logo Marketers want to personify their logo, making it extra applicable and attractive with the community. To do this, first of all, it's miles essential to create a persona for the commercial enterprise on social networks and at the website. And growing persona with the aid of using evoking feelings in customers, feelings like hope, joy, curiosity, etc. could make a logo extra memorable. The key to growing logo attention lies in constructing relationships with the community. Make an attempt to customize the logo, construct true feelings thru marketing and marketing content material to be regarded and remembered extra. 5/ Optimized for cell devices
If your internet site isn't always appropriate to show at the cell interface, the enterprise is in all likelihood to lose a massive quantity of traffic. Currently, maximum clients use smartphones to get right of entry to the internet. view information, entertainment, etc. They additionally go to web sites and make purchases over the telecellsmartphone more. Therefore, corporations want to make sure that their internet site and content material are appropriate for the cell interface, permitting clients to view content material without problems and have interaction without problems. 6/ Build a multi-channel advertising approach In order to face out withinside the context of fierce competition, corporations want to construct emblem identification on many one-of-a-kind channels. Users can use many and lots of enjoyment and communique channels, corporations that increase best on a unmarried channel will threat lacking customers. Effective advertising approach is deployed on many channels, directors can use social community control equipment to publish on one-of-a-kind pages on the equal time. At the equal time, you have to usually actively take part in discussions on Q&A forums, groups, etc. Businesses can create new content material or take benefit of marketing and marketing alternatives to boom emblem awareness. 7/ Marketing with the aid of using comments, person reviews In the context of customers step by step dropping believe in marketing and marketing, making the general public believe the emblem is extraordinarily important. Consumers generally tend to accept as true with real experiences. They will accept as true with in colleagues, friends, spouse and children extra than the marketing and marketing message. Therefore, taking gain of true consumer reviews, feedback and comments facilitates corporations advantage extra status withinside the public eye, making customers believe and pick out extra.. 8/ Affirming emblem fee Customers in trendy and specifically the younger segment, they have got a experience of moral behavior, they now no longer handiest care approximately excellent and fee however additionally care approximately the fee of the business. Marketers want to focus on emblem values via advertising and marketing campaigns, making those values an crucial a part of company identity. 9/ Build consider and constant patron community
8. Defining brand positioning, suggest some ideas that marketers need to know...................................
Brand positioning is at the heart of marketing strategy. It is the “act of designing the company’s offer and image so that it occupies a distinct and valued place in the target customer’s minds.” As the name implies, positioning means finding the proper “location” in the minds of a group of consumers or market segment, so that they think about a product or service in the “right” or desired way to maximize potential benefit to the firm. Good brand positioning helps guide marketing strategy by clarifying what a brand is all about, how it is unique and how it is similar to competitive brands, and why consumers should purchase and use it. Deciding on a positioning requires determining a frame of reference (by identifying the target market and the nature of competition) and the optimal points-of-parity and points-of-difference brand associations. In other words, marketers need to know (1) who the target consumer is, (2) who the main competitors are, (3) how the brand is similar to these competitors, and (4) how the brand is different from them. We’ll talk about each of these. ❖ (1) Target Market Identifying the consumer target is important because different consumers may have different brand knowledge structures and thus different perceptions and preferences for the brand. Without this understanding, it may be difficult for marketers to say which brand associations should be strongly held, favorable, and unique. A market is the set of all actual and potential buyers who have sufficient interest in, income for, and access to a product. Market segmentation divides the market into distinct groups of homogeneous consumers who have similar needs and consumer behavior, and who thus require similar marketing mixes. Market segmentation requires making trade-offs between costs and benefits. ● Segmentation Bases: some possible segmentation bases for consumer and business-to-business markets, respectively. We can classify these bases as descriptive or customer-oriented (related to what kind of person or organization the customer is), or as behavioral or product-oriented (related to how the customer thinks of or uses the brand or product) ● Criteria: A number of criteria have been offered to guide segmentation and target market decisions, such as the following: o Identifiability: Can we easily identify the segment? o Size: Is there adequate sales potential in the segment? o Accessibility: Are specialized distribution outlets and communication media available to reach the segment?
o Responsiveness: How favorably will the segment respond to a tailored marketing program? ❖ (2) Nature of Competition At least implicitly, deciding to target a certain type of consumer often defines the nature of competition , because other firms have also decided to target that segment in the past or plan to do so in the future, or because consumers in that segment already may look to other brands in their purchase decisions. Competition takes place on other bases, of course, such as channels of distribution. Competitive analysis considers a whole host of factors—including the resources, capabilities, and likely intentions of various other firms—in order for marketers to choose markets where consumers can be profitably served ● Indirect Competition. One lesson stressed by many marketing strategists is not to define competition too narrowly. ● Multiple Frames of Reference. It is not uncommon for a brand to identify more than one frame of reference. This may be the result of broader category competition or the intended future growth of a brand, or it can occur when the same function can be performed by different types of products. ❖ (3) & (4) Points-of-Parity and Points-of-Difference: The target and competitive frame of reference chosen will dictate the breadth of brand awareness and the situations and types of cues that should become closely relate. POPs are important because they can undermine PODs: unless certain POPs can be achieved to overcome potential weaknesses, PODs may not even matter. For the brand to achieve a point-of-parity on a particular attribute or benefit, a sufficient number of consumers must believe that the brand is “good enough” on that dimension. There is a “zone” or “range of tolerance or acceptance” with POPs. The brand does not have to be seen as literally equal to competitors, but consumers must feel that it does sufficiently well on that particular attribute or benefit so that they do not consider it to be a negative or a problem. Assuming consumers feel that way, they may then be willing to base their evaluations and decisions on other factors potentially more favorable to the brand. Points-of-parity are thus easier to achieve than points-of-difference, where the brand must demonstrate clear superiority. Often, the key to positioning is not so much achieving a POD as achieving necessary, competitive and correlational POPs.
Swiss watchmaker History Fine Materials Exclusive imagery Craftsmanship Innovation Attractive Crown Durable Premium price Quality Distribution Accurate (Cái này không có trong câu hỏi nhưng tui cứ thêm vô cho cho chắc) So sánh PODs vs POPs ● Low price vs. high quality ● Taste vs. low calories ● Nutritious vs. good tasting ● Efficacious vs. mild ● Powerful vs. safe ● Strong vs. refined ● Ubiquitous vs. exclusive ● Varied vs. simple
10. Criticizing the criteria for choosing brand elenment......................................................................
(cái bảng là tóm tắt, phần dưới là giải thích ra nhưng khá dài nên mọi người tự lựa cái mà mọi người viết vào cho kịp thời gian) Memorable Easily recognized Easily recalled Meaningful Descriptive persuasive Likable Fun and interesting Offensive
Rich visual and verbal imagery Adaptable Flexible upgradable Transferable Within and across product categories Across geographic boundaries and cultures Protectable Loyalty Competitively ❖ Memorabilit y A necessary condition for building brand equity is achieving a high level of brand awareness. Brand elements that promote that goal are inherently memorable and attention-getting and therefore facilitate recall or recognition in purchase or consumption settings. For example, a brand of propane gas cylinders named Blue Rhino featuring a powder-blue animal mascot with a distinctive yellow flame is likely to stick in the minds of consumers. ❖ Meaningfulness Brand elements may take on all kinds of meaning, with either descriptive or persuasive content. We saw in Chapter 1 that brand names can be based on people, places, animals or birds, or other things or objects. Two particularly important criteria are how well the brand element conveys the following: ● General information about the function of the product or service: Does the brand element have descriptive meaning and suggest something about the product category, the needs satisfied or benefits supplied? How likely is it that a consumer could correctly identify the product category for the brand based on any one brand element? Does the brand element seem credible in the product category? ● Specific information about particular attributes and benefits of the brand: Does the brand element have persuasive meaning and suggest something about the particular kind of Defensive
The fifth consideration for brand elements is their adaptability over time. Because of changes in consumer values and opinions, or simply because of a need to remain contemporary, most brand elements must be updated. The more adaptable and flexible the brand element, the easier it is to update it. For example, logos and characters can be given a new look or a new design to make them appear more modern and relevant. ● Protectability The sixth and final general consideration is the extent to which the brand element is protectable— both in a legal and a competitive sense. Marketers should (1) choose brand elements that can be legally protected internationally, (2) formally register them with the appropriate legal bodies, and (3) vigorously defend trademarks from unauthorized competitive infringement. The necessity of legally protecting the brand is dramatized by the billions of dollars in losses in the United States alone from unauthorized use of patents, trademarks, and copyrights, as described in The Science of Branding 4-1. Another consideration is whether the brand is competitively protectable. If a name, package, or other attribute is too easily copied, much of the uniqueness of the brand may disappear. For example, consider the once red-hot ice-beer category. Although Molson Ice was one of the early entries in the category, it quickly lost its pioneering advantage when Miller Ice and what later became Bud Ice were introduced. Marketers need to reduce the likelihood that competitors can create a derivative based on the product’s own elements.
11. When applying for brand name, evaluating and explain the naming procedure.............................
❖ Evaluating naming procedure: The brand name is a fundamentally important choice because it often captures the central theme or key associations of a product in a very compact and economical fashion. Brand names can be an extremely effective shorthand means of communication. Whereas an advertisement lasts half a minute and a sales call could run to hours, customers can notice the brand name and register its meaning or activate it in memory in just a few seconds. Selecting a brand name for a new product is certainly an art and a science. Like any brand element, brand names must be chosen with the six general criteria of memorability, meaningfulness, likability, transferability, adaptability, and protectability in mind. ● Brand Awareness : Brand names that are simple and easy to pronounce or spell, familiar and meaningful, and different, distinctive, and unusual can obviously improve brand awareness. o Simplicity and Ease of Pronunciation and Spelling. Simplicity reduces the effort consumers have to make to comprehend and process the brand name. Short names often facilitate recall because they are easy to encode and store in memory. Marketers can shorten longer names to make them easier to recall.
o Familiarity and Meaningfulness. The brand name should be familiar and meaningful so it can tap into existing knowledge structures. It can be concrete or abstract in meaning. o Differentiated, Distinctive, and Unique. Although choosing a simple, easy-to- pronounce, familiar, and meaningful brand name can improve recallability, to improve brand recognition, on the other hand, brand names should be different, distinctive, and unusual ● Brand Associations Because the brand name is a compact form of communication, the explicit and implicit meanings consumers extract from it are important. The brand name can be chosen to reinforce an important attribute or benefit association that makes up its product positioning. ❖ Explaning naming procedures: Naming Procedures. A number of different procedures or systems have been suggested for naming new products. Most adopt a procedure something along the following lines. ● Define objectives. First, define the branding objectives in terms of the six general criteria we noted earlier, and in particular define the ideal meaning the brand should convey. Recognize the role of the brand within the corporate branding hierarchy and how it should relate to other brands and products.. In many cases, existing brand names may serve, at least in part. Finally, understand the role of the brand within the entire marketing program and the target market. ● Generate names. With the branding strategy in place, next generate as many names and concepts as possible. Any potential sources of names are valid: company management and employees; existing or potential customers (including retailers or suppliers if relevant); ad agencies, professional name consultants, and specialized computer-based naming companies. Tens, hundreds, or even thousands of names may result from this step. ● Screen initial candidates. Screen all the names against the branding objectives and marketing considerations identified in step 1 and apply the test of common sense to produce a more manageable list. ● Study candidate names. Collect more extensive information about each of the final 5– names. Before spending large amounts of money on consumer research, it is usually advisable to do an extensive international legal search. Because this step is expensive, marketers often search on a sequential basis, testing in each country only those names that survived the legal screening from the previous country. ● Research the final candidates. Next, conduct consumer research to confirm management expectations about the memorability and meaningfulness of the remaining names. Consumer testing can take all forms. Marketers may survey many consumers to capture differences in
