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BDM-Chapter 1-merged (1).pdf - INTRODUCTION Required...

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INTRODUCTION
Required ReadingsKevin Lane Keller, Strategic Brand Management:Building, Measuring, and Managing Brand Equity, 4thIndian Edition, Pearson.Additional Readings:Building Strong Brands By David Aaker22 Immutable Laws of Branding by Al RiesPositioning: The battle for your mind by Al Ries JackTrout
CHAPTER 1Introduction to BrandManagement
Learning ObjectivesDefine“brand,”state how brand differs from a product.Summarize why brands are important.Explain how branding applies to virtually everything.Describethemainbrandingchallengesandopportunities.Identify the steps in the strategic brand managementprocess.
Evolution of BrandingThe concept is dated back to 1200B.C.Derived from the Old Norse wordbrandr, which meansto burn.Ownersusedtoidentifytheirlivestockby burning a mark onthem.
Evolution of BrandingBranding was used by:Craftsmento sell their products.Potteryandclay lampswere stamped.In1266,England made itcompulsory for bakers to puttheir mark on their breads.They then brought this concept of America.Tobaccomanufacturers used to label their crops for sellingworldwide.Branding becomes moreimportant post80s’era.
What Is a Brand?BrandA name, term, sign, symbol, or design, or a combination ofthem.Intended toidentifythe goods and services of one seller orgroup of sellers.Differentiategoodsandservicesfromthoseofcompetitors.Createsacertainamountofawareness,reputation,prominence, and so on in the marketplace(American Marketing Association)
What Is a Brand?Brand ElementsBrands Versus Products
Brand ElementsDifferent componentsthat identifies and differentiates a brandName, logo, symbol, package design, or other characteristic.It can be based onpeople, places, things, and abstractimages.
Brand Versus ProductA product is anything we can offer to a market forattention,acquisition, use, or consumptionthat might satisfy aneed orwant.Harvard’sTed Levittargued that“thenew competition is notbetweenwhat companies producein their factories but betweenwhat they addto their factory output in the form ofpackaging,services,advertising,customeradvice,financing,deliveryarrangements,warehousing,andotherthingsthatpeoplevalue.
Brand Versus ProductA brand is therefore more than a product, because itcan havedimensions that differentiateit in some way from otherproductsdesigned to satisfy the same need.These differences may berationalandtangiblerelated toproductperformanceofthebrandormoresymbolic,emotional, and intangiblerelated to what the brandrepresents.
Do you know the Story?
One of the classic marketing mistakes by Coca Cola inApril, 1985.

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Brand, Brand Equity and Brand Positioning

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