How to Effectively Do Brand Management
Branding
Tags: brand, brand management, brand personality
March 15, 2008
What’s in the pool of “Traditional Marketing techniques”?
The concept of traditional marketing that is “Features and Benefits” is changing, but the main base remains on the same. The components of any kind of a marketing approach are:
- Features and Benefits
- Narrow definition of product categories and competition
- Customers are rational decision-makers
- Methods are analytical, quantitative and verbal
The perceptions and associations consumers have about brands go beyond their functional attributes and benefits, and include non-functional, symbolic qualities, often referred to as “Brand Image”. Among these aspects of brand image are perceptions and associations about the brand’s “personality,” the “set of human-like characteristics associated with a brand”. This brand image is the only thing that is to be kept intact to get the maximum “Customer life-time value” or the “Customer equity value”.
Culture as the basis of Brand image building:
The brand perception is an important factor while taking any decision regarding the brand image building for any type of product category. The perceived personality of a brand can be shaped by marketers via “transferring cultural meaning” into it in various ways, such as by associating the brand in communications with an endorser or place that already possesses the personality or meaning considered strategically desirable for that brand. Any brand value can be factored into five components which differentiate one from the other.
The factors as leveled are:
- Sincerity (sample item: honest)
- Excitement (daring)
- Competence (reliable)
- Sophistication (upper-class)
- Ruggedness (tough)
