IMC Lecture 4 1920
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This document discusses theories of branding, including what constitutes a brand and strategies for developing brands. It notes that a brand represents intangible qualities that create emotional responses in customers and influence their purchasing decisions. The document outlines several key elements that make for a successful brand, such as innovation, quality, and differentiation. It also discusses different branding strategies companies can employ, including line extensions, brand extensions, corporate branding, and developing a portfolio of brands. Overall, the document provides an overview of conceptualizations of brands and approaches to branding.
IMC Lecture 4 1920
- 1. Integrated Marketing Communications communications strategy branding 4
- 2. what is a brand? “...a special relationship with customers, based on intangible qualities that evoke strong emotional responses. These might consist of a logo, a general look and feel, a tone of voice and the way a company interacts with its customers – but the whole should be much greater than the sum of the parts.” a brand is something that creates… CIM, 2010
- 3. “A brand is the set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another. If the consumer (whether it’s a business, a buyer, a voter or a donor) doesn’t pay a premium, make a selection or spread the word, then no brand value exists for that consumer.” Godin, 2011 what is a brand?
- 4. a brand can be perceived as a product… ...that adds either rational and tangible dimensions (related to performance) …or as a symbol... ...symbolic, emotional and intangible dimensions (related to what the brand represents) Keller, 1997 what is a brand?
- 5. Fill, 2016, identified that a brand has twomain attributes… intrinsic extrinsic functional… design performance ingredients/components size/shape price meaning… value brand image images of stores where sold perceptions of users of the brand what is a brand?
- 6. brand names need to be... memorable likeable adaptable transferable meaningful protectable
- 7. brand names… should be distinctive and able to differentiate good brand names are easy to… say should be transferable across products, culture and countries spell recall
- 8. brand constructs… a successful brand is built on sixkey elements… innovation added-value good quality communicative support differentiation De Pelsmaker et. al., 2015 internal support
- 10. brand characteristics… functional… the abilities, the areas where it delivers, what it does personification… it’s humanist elements… fun, bland, exciting, adventurous, caring, stylish relationship building…creating a three-dimensional person or character
- 13. brand strategies… to start with… do you need a brand name? is it essential? do you need to differentiate? branding works best as a pull strategy
- 15. brand strategies… line extension expand on variety of offerings accommodate needs of new segments react to successful competitive products command the market deter competitors enhance the image of the parent brand
- 16. brand strategies… brand extension… existing brand into new product category minimise risk of failure risk of brand dilution capitalise on image on reputation incongruous product and brand can lead to failure without support can capture greater market share in shorter time
- 17. brand strategies… corporate brand using the name of the company for all products commonly used by banks and financial institutions capitalise on reputation fairly inflexible
- 18. brand strategies… multi-branding different names for products or ranges in the same product category allows finer segmentation and positioning through differentiation
- 20. brand strategies… global branding need the required global characteristics similar approach to extension localised branding similar to multi-brand
- 21. brand portfolio... all the brands and lines that an organisation possess premium the portfolio attempts to maximise market coverage via… bastion fighter flanker De Pelsmaker et. al., 2015
- 22. brand loyalty… Brand friend Satisfied buyer with switching costs Satisfied/habitual buyer Switchers/price sensitive committed buyer De Pelsmaker et. al., 2015
- 23. the future of branding? lovemarks respect love sensuality deep emotional connection intimacy mystery
- 25. the future of branding? Brand narratives …an ongoing story using metaphors and myths we understand… …and connect with… …and develop emotional attachments to Creates identity, publicity and profit …but what makes a good story?
- 26. Hero’s journey
- 27. Brand story archetypes… passionate enthusiast smart listener likeable hero little guy vs. big guy inspired inventor Cohen, 2012
- 28. brand narratives
- 29. What’s important here? Theories of …brands are highly influential in influencing behaviour …brands have intrinsic and extrinsic factors attached to them… we can better understand these as functional (rational) and emotional factors brands can be incredibly valuable and polarising …a brand narrative helps us identify with the brand