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Brand and Brand Marketing

by: Savannah Sinclair

Brand and Brand Marketing 4343

Marketplace > Oklahoma State University > Marketing > 4343 > Brand and Brand Marketing
Savannah Sinclair
OK State
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About this Document

These notes cover information on the difference between a brand and a product, how brand management works, brand equity, and requirements for future brand managers.
Brand Marketing
Kevin Voss
Class Notes
Marketing, brand management, brand




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This 2 page Class Notes was uploaded by Savannah Sinclair on Tuesday August 2, 2016. The Class Notes belongs to 4343 at Oklahoma State University taught by Kevin Voss in Fall 2016. Since its upload, it has received 5 views. For similar materials see Brand Marketing in Marketing at Oklahoma State University.


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Date Created: 08/02/16
August 12, 2016 BRAND AND BRAND MANAGEMENT Product  Defined as a bundle of attributes that generate satisfaction for the customer  Something that might satisfy a need or want  Appeals to a variety of customers wants/needs  Something we offer to the market  Can refer to virtually anything  Example: Walt Disney World Mug Program o Mug used to service drinks o Also a physical product that is a souvenir  Closer the item moves to the core benefit (basic function that all items will have) the more it is a product Brand  Identifies the product and/or services of a seller/group of sellers and differentiates them from competitors  Is something that resides in the minds of consumers via a brand element( name, slogan, character, jingle)  Can be more than one product o P&G is a brand management company because it owns a variety of brands that consumers don’t put together normally  Key to making a brand is to influence people’s perception  Convinces you that it is less risky than a non-brand name product o Risk Reduction – 6 Ways 1. Functional –Will it function the way you need it to? 2. Temporal –Does it save time? 3. Financial –Is it worth the price? 4. Physical*--Does it pose a risk or reduce a risk? 5. Psychological*--Does it help or hurt the mental wellbeing? 6. Social*--Is there a risk of embarrassment? *most important factors  Simplifies description/conversation, helps differentiate  Effort to build a brand is expensive but benefits the firms and society  Anything can be branded o Physical goods(Ford), services(Fedex), retailers and distributors (Wal- Mart), online products and services(Amazon), etc. Brand Management  Strong leadership for brands puts them in a strong position to succeed, poor management will lead to weak brands Brand Equity Concept  If a consumer compares a generic product/service to a brand name, the consumer will see the brand name in a higher position than the generic  Brand equity means that brand names will come out on top in a comparison Strategic Management Process  Identify and establish brand positioning and values  Plan and implement brand marketing programs  Be able to measure and understand brand performance  Help grow and sustain brand equity Brand Management Career  Communication Skills o Must be able to communicate with the customers/ad agency about brand o Must be able to represent brand within the company and transfer that image to other members o Must be able to train and develop talent  Analytical Skills o Understand data to develop customer insight via market analysis (segmentation, positioning, and new products) o Understand how to analyze the financials  Profit and loss  Planning o Developing and executing media plans, events, sponsorships, etc  Build Relationships o Communicate and build a foundation with agencies and partners and other departments  Strategic Thinking o Understand how to adapt to the business market and environment o Drive growth upwards  More money means happy investors, stockholders, and company partners  Interpret whether you are winning/losing customer loyalty


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