Product vs Brand Presentation Transcript
1.Product vs. Brand
2.Why is Marketing Becoming More Important?
3.What is a Brand? It’s the company’s definition of what they have to offer. A brand is a product that has a personality. A promise to the customer. What the customer knows about your specific product. It’s your image. How the company or product is perceived?
4.What is a Brand? A set of product perceptions by the consumer. It is a personality developed over time. A brand signifies a relationship with the customer. It is the company’s most valuable asset. It’s also the main differentiator, the best defense against price competition, and the key to customer loyalty. Competitors can copy your features and benefits, but they can’t steal your brand. It’s a promise. But it must be backed up by performance.
5.Model Proliferation & Brand Identification BMW= Brand 3-Series = Nameplate 325i, 325iX, 325Ci coupe, 325Ci convertible, 325 wagon and 330i 1995 vs. 2005 Models of Cars Cars: 480 591 Trucks: 430 999 Total: 910 1590 AutoWeek 11/2005
6.What is a Brand? & Brand Identification A brand is much more than a name—it’s a symbol, trademark, logo, term, sign, design or combination, which distinguishes a product from others. Sets a company’s products apart from competition. It’s the perception of the product in the minds of the consumers The marking of livestock. Artists signing their work. Your first opportunity is in the name. Easier to order and remember. Most important is consistency—globally too.
7.What is a Brand? & Brand Identification -2- Examples:
8.Need to keep it fresh. Look at Coca-Cola. Its image is as fresh today as when it started. It’s not luck. It’s careful nurturing and development of the brand. Can exploit brand equity with brand extensions, if there is value.
9.Salt is in bright-colored packages. Oranges are marked. Labeled. A guarantee of quality. BMW paid $60 million for the Rolls Royce name. Nothing else. A brand can convey: Attributes + Benefits + Values + Culture + Personality Seller’s promise to deliver a specific set of features. Brand equity is the value a brand adds to the product.
10.Turning or Translating Brand Awareness Into Brand Insistence.
11.Major Macroenvironment Forces and Trends …..Broad Environment Demographic Economic Natural/ Ecological Technological Political/ Legal Social/ Cultural
12.Marketing and Branding Products vs. Brands Look at Marketing Process: Analyzing Marketing Opportunities Segmentation, Targeting and Positioning Developing Marketing Strategies and 7P’s Planning Marketing Programs Executing, Managing and Evaluating Marketing Efforts
13.Physical Flow Title Flow Payment Flows Information Flow Promotion Flow Suppliers, Intermediaries, Transporters, Wholesalers, Dealers, Retailers, Banks, Marketing Firms, Advertising Agencies, Media, Customers, Users
14.Most Purchased: Nation’s Number One Food 3% of Grocery Sales Grown, Cut, Separated, Sorted, Cleaned, Labeled, Packaged, Shipped, Handled With Care. Stickers Potatoes
15.Marketing and Branding
16.White, Red, Rose
17.Wine Merchandising and Events Distribution Liquor by the Law
18.Marketing of Beef, Veal, Pork, Lamb, Chicken, Turkey, Fish
19.Marketing of Beef, Veal, Pork, Lamb, Chicken, Turkey, Fish National Cattlemen’s Beef Association Beef. It’s what for Dinner. Pork. The Other White Meat. Big Texan Steak Ranch in Amarillo. Ostrich on British Airways. The Turkey Store. The Turkey Restaurant. McDonald’s