Strategic Brand Management Process
Strategic Brand Management Process
I've selected this topic, since it's very important to understand the various aspects in the <b>PROCESS</b> of strategic brand management.
The process of strategic brand management basically involves 4 steps:
1. Identifying and establishing brand positioning.
Brand Positioning is defined as the act of designing the company's offer and image so that it occupies a distinct and valued place in the target consumer's mind.
Key Concepts: * Points of difference: convinces consumers about the advantages and differences over the competitors * Mental Map: visual depiction of the various associations linked to the brand in the minds of the consumers * Core Brand Associations: subset of associaitons i.e. both benefits and attributes which best characterize the brand. * Brand Mantra: that is the brand essence or the core brand promise also known as the Brand DNA.
2.Planning and Implementation of Brand Marketing Programs
Key Concepts: * Choosing Brand Elements:Different brand elements here are logos, images, packaging, symbols, slogans, etc. Since different elements have different advantages, marketers prefer to use different subsets and combinations of these elements. * Integrating the Brand into Marketing Activities and the Support Marketing Program: Marketing programs and activities make the biggest contributions and can create strong, favorable, and unique brand associations in a variety of ways. * Leveraging Secondary Associations: Brands may be linked to certain source factors such as countries, characters, sporting or cultural events,etc. In essence, the marketer is borrowing or leveraging some other associations for the brand to create some associations of the brand's own and them to improve it's brand equity.
3.Measuring and Interpreting Brand Performance
Key Concepts:
Brand Audit: Is assessment of the source of equity of the brand and to suggest ways to improve and leverage it.
I've selected this topic, since it's very important to understand the various aspects in the <b>PROCESS</b> of strategic brand management.
The process of strategic brand management basically involves 4 steps:
1. Identifying and establishing brand positioning.
Brand Positioning is defined as the act of designing the company's offer and image so that it occupies a distinct and valued place in the target consumer's mind.
Key Concepts: * Points of difference: convinces consumers about the advantages and differences over the competitors * Mental Map: visual depiction of the various associations linked to the brand in the minds of the consumers * Core Brand Associations: subset of associaitons i.e. both benefits and attributes which best characterize the brand. * Brand Mantra: that is the brand essence or the core brand promise also known as the Brand DNA.
2.Planning and Implementation of Brand Marketing Programs
Key Concepts: * Choosing Brand Elements:Different brand elements here are logos, images, packaging, symbols, slogans, etc. Since different elements have different advantages, marketers prefer to use different subsets and combinations of these elements. * Integrating the Brand into Marketing Activities and the Support Marketing Program: Marketing programs and activities make the biggest contributions and can create strong, favorable, and unique brand associations in a variety of ways. * Leveraging Secondary Associations: Brands may be linked to certain source factors such as countries, characters, sporting or cultural events,etc. In essence, the marketer is borrowing or leveraging some other associations for the brand to create some associations of the brand's own and them to improve it's brand equity.
3.Measuring and Interpreting Brand Performance
Key Concepts:
Brand Audit: Is assessment of the source of equity of the brand and to suggest ways to improve and leverage it.