Brand Management Class Notes- Nov 22

Brand Management Class Notes- Nov 22 - Brand Management...

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Brand Management Class Notes- Nov 22 Introduction Last class, we talked about branding in the service industries. We talked about McDonald’s and the Mayo clinic, the two elements that came out in the service branding: humanics and mechanics. Mechanics are the physical environment, and humanics is the internal stuff. It is pretty clear for anyone who thinks about this stuff that branding is not about advertising percentile, it is about how consumers experience your brand. Communications side, the environment is not only for service companies, but even for companies that sell physical products. So if you are a car company, leadership is important. Design also shapes brand perception. We also have the service side, which is the whole HR and employee side. Other ways in which we transfer meaning into your brand, Arizona Iced Tea. Cold branding… connection leading into your brand, event sponsorship, packaging, and other touch points, and even stuff like pricing and distribution. In the Samsung case, they said they choose not to distribute their high end mobile phones to Walmart because they thought that it cheapened the image of its brand. Quality and leadership We are going to talk about the quality leadership topic. No one can argue that the perception of quality of your brand is arguably the most important association that people have with your brand. So what we are going to begin with today, is how do you create a strong perception of your brand? What do you mean when you say quality? Create perceive quality without having objective quality. It is conclusively shown that the financial success of a brand depends on the purchases of a product. You have to have real objective quality for your object to be successful, so the next question: when we say quality, are we talking about only functional as in physical attributes? Rational economic reasons to buy the brand, or could we also be talking about other aspects? How you look and feel about the brand also matters. When we look to people for information about a product, we look a lot to third party messaging. Don’t look at the website, or expertise magazines. Even in clothing, what kinds of risks exist in clothing? Not just functional, but social. The characteristics that people judge brands very depending on the category, but they include functional, emotional, and expressive elements. Quality is sort of like an onion with layers, and you have the core. Wrapped around that are elements of service and warranty, convenience. Should you position your brand very high on quality levels, or is it better to position your brands being superior for value of money? What do you think of that question, what makes more sense? Because you have a choice, what are some tradeoffs? Depends on the competitive situation. When consumers leave a store, you think you will feel better exiting with a product under your arms that give you a quality message, or do you feel better with a brand under your arm that gave you a value message? It is psychologically more fulfilling for
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This note was uploaded on 02/09/2012 for the course MKT 303 taught by Professor Rajeevbatra during the Fall '11 term at University of Michigan.

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Brand Management Class Notes- Nov 22 - Brand Management...

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