450 12 13

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Information about 450 12 13

Published on November 21, 2007

Author: Gavril

Source: authorstream.com

Branding and Naming Strategies:  Branding and Naming Strategies Chapters 11 & 12 Brand-Product Matrix: Relationships Diagramed:  Brand-Product Matrix: Relationships Diagramed Brand line - all products sold under a brand Brand portfolio -set of all brands and brand lines a company offers in a product category; used to maximize equity (BR, Gap, ON) Product line - products similar in price, TA, or distribution Product mix - all product lines Brand mix - all brand lines Breadth of Branding Strategy: Product Mix:  Breadth of Branding Strategy: Product Mix Aggregate market factors - size, growth, stage, profits Category factors - competition, bargaining power of buyers & suppliers Environmental factors - technological, economic, political, social Depth of Branding Strategy:  Depth of Branding Strategy Multiple brands are used to pursue multiple market segments Segment Ford brand Luxury (MB, Lexis) Jaguar, LRover Up-market (BMW,Cad) Volvo, Lincoln, Astin Martin Mid-price (HTN, GM, Ford, Mercury, Chrysler) Mazda Depth Tactics:  Depth Tactics Flankers - to create stronger POP with competition so flagship brand keeps desired position (Philip Morris’ use of discount Basic to protect Marlboro hi $) Cash cow - milked till dead (Trac II) Low end entry or hi end prestige - sub brands used to leverage on basis of price or quality (BMW Z3, 700 series) Brand Hierarchy:  Brand Hierarchy Corporate - GM Family - Buick Individual - Park Avenue Modifier (model) - Ultra Branding System:  Branding System Product brand - individual positioning (P&Gs Ariel, Tide, Dash detergents) Line brand - cross branding (Renault) Range brand - one name for a group (Green Giant vegetables) Umbrella brand - one brand for products in many markets (Canon copiers, cameras, equipment) Source brand - family with different names (Calvin Kline perfume, clothing lines) Endorsing brand - diverse products & brands (General Motors cars) Equity:  Equity Corporate level image determinants Common product attributes, benefits (Quality, innovation) People and relationships (customer orientation) Values and programs (social resp) Corporate credibility (expertise, trust, likeability) Designing branding strategy:  Designing branding strategy Corporate dominant corporate brands (Kellogg) house brands (Frosted Flakes Mixed brands duel brands (equal prominence) endorsed brands (Chevy Blazer) Brand dominant mono brand (Absolute) furtive brand (identity secret; Turning Leaf) Corporate/Product Relationships:  Corporate/Product Relationships Single entity: Federal Express Brand dominance: Marlboro (PM) Equal dominance: Nissan Maxima Mixed dominance: Bosch/ Blaupunikt Corporate dominance: Xerox Acura - from equal (Acura Legend) to corporate dominance (Acura 3.5RL) Question :  Question Characterize Mercedes’ Benz brand hierarchy. How would you improve the company’s branding strategy? Characterize Nissan’ hierarchy. How does their strategy differ from that of MBZ? Naming choice for new products:  Naming choice for new products New brand name Apply existing brand name (TracIII) Combination of new with existing brand name (brand extension) line extension - new flavor, Absolute citron category extension - Swiss Army luggage Expanding meaning with brand extensions:  Expanding meaning with brand extensions brand product extension meaning Crayola crayons paint, clay kid craft Swiss Army knife luggage adventure Mont Blanc pens watches luxury Billabong surfboard snow & all sports skate boards Master brands:  Master brands Owning an association in the consumer’s mind: Band-Aid, Alka-Seltzer, Jell-O, Crayola, Vaseline Difficult to extend directly to other product categories. Directions for leveraging master brands are: Sub-branding to give new element (DuPont Stainmaster carpet) Super-branding adds improved element (Everready Energizer batteries) Brand bundling fortifies master w/co-branding Brand bridging to new category You be the judge:  You be the judge Evaluate whether or not the following brand extensions work and why Honda lawn mowers Smuckers’ ketchup Visa traveler’s checks Cracker Jack cereal Harley Davidson wine coolers

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