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Chapter12ProductsandBrandingInBrandManagementGoalsofthechapter:•Understandwhatabrandis•Understandwhataproductis•Considertheimportanceofbranding•AnalyzethebrandingprocessandsomestrongbrandsAreyoufamiliarwiththebrands?Whatisabrand?•BrandAbrandisamixtureofattributes,tangibleandintangible,symbolizedinatrademark,which,ifmanagedproperly,createsvalueandinfluence.•ValueValuehasdifferentinterpretations:fromamarketorconsumerperspective:thepromiseanddeliveryofanexperience;fromabusinessperspective:thesecurityoffutureearnings;fromalegalperspective:aseparablepieceofintellectualproperty.ExtendedDefinitions•Abrandisaname,term,sign,symbol,designorcombinationofthemintendedtoidentifythegoodsandservicesofonesellerorgroupofsellersandtodifferentiatethemfromthoseofcompetition.•Abrandisaperceptionentity,rootedinreality,butalsoreflectingtheperceptionandeventheidiosyncrasiesofconsumers.brandelementsl$17billion$12billion$17billionWorldFamousBrandEquityBranding•Definition:Ameanstodistinguishthegoodsofoneproducerfromthoseofanother.Origin:OldNorseword“brand”:toburnsothatownersoflivestockmarktheiranimalstoidentifythem.Onbigfarmscattleareusuallybranded.BrandnameArchitecture•monolithic,wherethecorporatenameisusedonallproductsandservicesofferedbythecompany;•endorsed,whereallsub-brandsarelinkedtothecorporatebrandbymeansofeitheraverbalorvisualendorsement;and•freestanding,wherethecorporatebrandoperatesmerelyasaholdingcompany,andeachproductorserviceisindividuallybrandedforitstargetmarketHowanorganizationstructuresandnamesthebrandswithinitsportfolio?brandarchitecturesystemsmonolithicendorsedfreestandingIndividualnameLexicaldevicesNamesuggestingInherentattributeOtherthingsAnimal-basednamePlace-basednamePeople-basednameCompanynameBrandElementsWhatisaproduct?Anythingthatcanbeofferedtoamarketforattention,acquisition,use,orconsumptionthatmightsatisfyawantorneed.(PhillipKotler)corebenefitsThe5LevelsofaProductinstallationpackagingqualitydeliveryafter-saleservicecreditdesignwarrantyBrandnameWhatproblemdoesthebuyerreallywanttosolvewiththecoreproduct?Generic:no-frillwithbasicattributesforthefunctioningExpectedThesetofattributesnormallyexpectedAdditionalattributesPotentialAugmentationortransformationinfutureAugmentedadditionaldistinctserviceandbenefitsCategoriesofproductsbytheirattributesSearchgoodsExperiencegoodsCredencegoodsSize,color,sturdiness,style,weight,ingredientcanbeevaluatedbyvisualinspection.e.g.MajorityofphysicalgoodsDurability,quality,safety,easecanonlybetriedorexperienced.E.g.travel,entertainmentsMainlydependonpeople’sbeliefsratherthaninspectionortrial.Reputationisvital.e.g.insurancecoverageABrandedProduct•Abrandwhichissynonymouswithaparticularproductoffering.•Itaddsotherdimensionstodifferentiateitfromotherproductsdesignedtosatisfythesameneed.Thesedifferencesmaybe:rationalandtangible(performance,style)symbolic,emotionalandintangible(representation,association)•ItcanbeanythingofferedtomarketsExamplesofbrandedproductsServicesStoresPersonPlaceOrganizationIdeaWhyarebrandssovaluable?ValuestocustomersValuestomanufacturersValuesCreatedbyBrandsToconsumers•IdentificationofSourceofproduct•AssignmentofResponsibilitytomaker•Riskreducer•searchcostreducer•Promise,bondorpactwithmaker•Symbolicdevice•SignalofqualityTomanufacturers•Meansofidentificationtosimplifyhandlingortracing•MeansofLegalprotectinguniquefeatures•Signalofqualityleveltosatisfiedcustomers•Meansofendowingproductswithuniqueassociations•Brandloyalty•Demandsecurity•Financialreturn•SourceofCompetitiveadvantageBrandsasriskreducersFunctionalriskqualityPhysicalrisksafetyFinancialriskmoney-for-valueSocialriskembarrassmentPsychologicalriskmentalwell-beingTimeriskopportunitycostWithwhatdoBrandsCreateCompetitiveAdvantagesimageemotionassociationtechnologyperformancequalityBRANDAssociationslinkedtobrandThefeelings,beliefsandknowledgethatconsumershaveaboutbrands.Theseassociationsarederivedasaresultofexperiencesandmustbeconsistentwiththebrandpositioningandthebasisofdifferentiation.Howtocarryoutbranding?•Selectingandblendingtangibleandintangibleattributestodifferentiatetheproduct,serviceorcorporationinanattractive,meaningfulandcompellingway.Givealabel“who”Giveameaning“what&why”Maketheattributesperceivable“howdifferent”BrandingDifferentProducts•Commodities:genericorbrand•High-techproducts:package-goodsmarketingortechnology-orientedmarketing•Services:signalsandassociationtoaddressintangibilityandvariability•Retailers&Distributors:manufactures’brands,“storebrands”and“privatelabelbrands”•People&organization:publicimage,approvalandsocialresponsibilities•Sport:package-goodstoolsorwin-lossrecord•Art,entertainment:combinationofplots,actors,directorsasbrandingapplication•Place:awarenessanddesirableassociationKeyterms•Brand/branding•Brandloyalty•Massmarketing•Commodities•Packagegoods•Merchandising•Endorsed/endorser•Sport/moviefranchise•品牌/品牌建设•品牌忠诚度•大众化营销•日用品•包装品•(零售)商品的陈列与布置•授权品牌／品牌代言人•体育（职业球队）／影视特许经营权Discussion:•HowdoyoucompareChina’sbrandswithworldfamousones?ThinkofoneChinesebrandsandanalyzeitsbrandingstrategy?