Brand Positioning

Marketing Management Revision Article Series

Branding is a major issue in product strategy. Developing a brand that consumers demand from the retail stores requires a great deal of long-term investment spending, especially for advertising, promotion and packaging. Branding strategy is important for firms, as many firms with brands are able to retain market power even when they outsourced manufacturing to low cost competitors.

Consumers by brands in the market place. A product has many brands in the market place. Hence companies have turn their product concepts into brand positions. To decide an attractive brand position, they have to make brand positioning map for the product identifying the positions taken by the present competitors in the product.

Creating Brand Equity - Kotler - Keller

1.What is a brand and how does branding work?

Brand is name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.

The purpose of branding is to create demand for the product that a particular firm is offering or marketing or selling. A satisfied buyer can repurchase the same product only when it is identified uniquely and branding provides the means through firms provide unique identification to their products targeted at various segments in the product or need market.

2. What is brand equity?

Brand equity brand value is associate with the customers. If more customers recognize the brand and show preference for the brand, the brand has more value. Customer-based brand equity is the differential effect brand has on consumer response to the marketing activities of that brand. A brand has positive customer-based brand equity or value when consumers react more favorably to a product's marketing activity conducted with the brand name in comparison to marketing activity conducted without disclosing the brand name.

3. How is brand equity measured and managed?

BrandAsset Valuator
Brandz
Brand Resonance Model

Brand audit
Brand tracking studies
Brand reinforcement
Brand revitalization

4. What are the important brand architecture decisions involved in developing a branding strategy?
Choosing Brand elements
Developing brand elements

Decisions to use either or combinations of - Corporate umbrella brand name - Separate product family brand names - Target offer brand name.

Planned Revision schedule for marketing chapters is in February and March