Introduction to the concept of Brand Management:
Brand –Meaning, Definition, Evolution of Brands, Functions of Brand to consumer, Role of Brand- Advantages of Brand, Product Vs Brand, Branding- Meaning, Creation of Brands through goods, services, people, Organisation, Retail stores, places, online, entertainment, ideas, challenges to Brand builders Brand Management-Meaning & Definition. Strategic Brand Management Process-Meaning, Steps in Brand Management Process Strong Indian Brands.
Customer Based Brand Equity:
Customer Based Brand Equity-Meaning, Model of CBBE Brand Equity: Meaning, Sources, Steps in Building Brands, Brand building blocks Resonance, Judgments, Feelings, performance, imagery, salience-Brand Building Implications, David Aaker’s Brand Equity Mo del. Brand Identity & Positioning: Meaning of Brand identity, Need for Identity & Positioning, Dimensions of brand identity, Brand identity prism, Brand positioning – Meaning, Point of parity & Point of difference, positioning guidelines Brand Value: Definition, Core Brand values, Brand mantras, Internal branding,
Choosing Brand Elements to Build Brand Equity:
Criteria for choosing brand elements, options & tactics for brand elements-Brand name, Naming guidelines, Naming procedure, Awareness, Brand Associations, Logos & Symbols & their benefits, Characters & Benefits, Slogans & Benefits, Packaging. Leveraging Brand Knowledge: Meaning of Brand Knowledge,Dimensions of Brand Knowledge, Meaning of Leveraging Secondary Brand Knowledge & Conceptualizing the leverage process.
Brand Value chain-
Designing Brand Tracking studies, Establishing brand Equity Management Systems. 58 Methods for measuring Brand Equity- Quantitative Techniques & Quantitative Techniques, Comparative methods- Brand based comparisons, marketing based comparisons Conjoint Analysis, Holistic methods. Managing Brand Equity: Brand Reinforcement, Brand Revitalization, Brand Crisis.
Designing and sustaining branding strategies:
Brand hierarchy, Branding strategy, Brand extension and brand transfer, Managing Brands overtime. Brand Architecture and brand consolidation. Brand Imitations: Meaning of Brand Imitation, Kinds of imitations, Factors affecting Brand Imitation, Imitation Vs Later market entry, First movers advantages, Free rider effects, Benefits for later entrants, Imitation Strategies.
Making Brands go Global:
Geographic extension, sources of opportunities for global brand, single name to global brand, consumers & globalization, conditions favouring marketing, barriers to globalization, managerial blockages, organization for a global brand, pathways to globalization. Luxury Brand Management: Luxury definition and relativity, luxury goods and luxury brands, basic psychological phenomena associated with luxury purchase, luxury marketing mix, luxury retail, International alluxury markets: historical leaders and emerging countries.
PRACTICAL COMPONENTS:
• Go to a supermarket and find the brand elements in various brands of soaps, mobiles, jeans, and other product.
• If you would start an MBA College, what would the positioning be with POP’s and POD’s?
• Pick up your college, analyse its positioning and how would you reposition it?
• Pick a multiproduct company and as completely as possible analyze its brand portfolio and brand extensions?
• Consider some groups like Tata’s , Birla’s, Infosys etc – what is their branding strategy.
• Students are supposed to assess the product life cycle and appraise alternative approaches to luxury brand management.
• Students can select any two popular brands and identify and examine the criteria for success in the luxury brand industry.
COURSE OUTCOMES:
Student should be able to:
1. Develop skills for managing brands strategically.
2. Compare and contrast the elements of product and brand management.
3. Assess growth-opportunities for brands, e.g., brand extension strategies.
4. Critique the different measures of brand equity.
RECOMMENDED BOOKS:
• Strategic Brand Management, Building Measuring & Managing Brand Equity – 2nd Ed Phi / Pearson Education – Kevin Lane Keller.
• Brand Management -The Indian Context – Y L R Moorthi – Vikas Publication.
• Strategic Brand Management – Jean, Noel, Kapferer – Kogan Page India.
REFERENCE BOOKS:
• Compendium Brand Management – Chunnawalla, 1/e, HPH, 2003.
• Strategic Brand Management- Richard Elliott & Larry Perclu, 1/e, Oxford Press.
• Creating powerful brands – Chernatony, 1/e, Elsevier Publication.