COMM 2401 Chapter Notes - Chapter 9: Kim Kardashian, Brand Equity, Kitchenaid
29 Oct 2018
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CHAPTER 9: Brand Strategy and Management
What is a Brand?
Brand: a name, symbol, icon, design, or a combination of these that identifies the maker or
marketer of a product.
It’s a concept with existence and personality
Managing a brand is managing something that is intangible
Branding helps consumers identify products that might benefit them — and also says something
about product quality and consistency
Brand Meaning
Trademarks can be names, symbols, characters, and shapes whose design is registered as a
trademark. They have monetary value, and must be protected, distinguished and indicated.
Customers attach meanings to brands and develop brand relationships that go beyond the
physical attributes
Brand Relationships
Brands represent consumers’ perceptions and feelings about a product and its performance
It’s what the consumers believe about the brand
People as Brands
Donald Trump, Rachael Ray, Kim Kardashian
Brand Characteristics
Brands exist in the minds and hearts of consumers — and managers are responsible to create
representations of the brand through logos. Brands also have personality, status and value
(brand equity).
Logos
Logos are designs that represent the brand and that may or may not incorporate the brand
name.
Brand Personality
Brand personality: the sum total of all the attributes of a brand, and the emotions it inspires in
the minds of consumers.
Successful brands have distinctive personalities — establish brand positioning
Another aspect is status — the level of social regard with respect to one another (high-status vs
low-status)
Brand Equity
Brand equity: the dollar amount attributed to the value of the brand, based on all the intangible
qualities that create value.
The extent to which people are willing to pay more for the brand
Measure the brand’s ability to capture consumer preference and loyalty
Brand strength dimensions:
1. Differentiation — what makes the brand stand out
2. Relevance — how consumers feel it meets their needs
3. Knowledge — how much consumers know about the brand
4. Esteem — how highly consumers regard and respect the brand
The brand must stand out in ways that are relevant to consumers’ needs
The fundamental asset underlying brand equity is customer equity — the value of the
customer relationships that the brand creates
Brand Strategy and Management
Brand Name Selection
• Begins with a review of the product and its benefits, the target market and proposed marketing
strategies — good, strong, memorable name
• Suggest something about product
• Easy to pronounce/recognize/remember
• Distinctive
• Extendable (not tied too closely to a product)
• Pronounceable in many different languages
• Capable of registration and protection as a trademark
Brand Positioning
Brands can be positioned based on product attributes (least desirable because competitors can
Document Summary
Brand: a name, symbol, icon, design, or a combination of these that identifies the maker or marketer of a product. Managing a brand is managing something that is intangible. Branding helps consumers identify products that might benefit them and also says something about product quality and consistency. Trademarks can be names, symbols, characters, and shapes whose design is registered as a trademark. They have monetary value, and must be protected, distinguished and indicated. Customers attach meanings to brands and develop brand relationships that go beyond the physical attributes. Brands represent consumers" perceptions and feelings about a product and its performance. It"s what the consumers believe about the brand. Brands exist in the minds and hearts of consumers and managers are responsible to create representations of the brand through logos. Brands also have personality, status and value (brand equity). Logos are designs that represent the brand and that may or may not incorporate the brand name.
