Module 3 Chapter 14 PDF

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Summary

An in-depth review of Chapter 14: Branding and Packaging in Basic Marketing Concepts with Mike Brady based on the lectures and power points....

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Chapter 14: Branding and Packaging Segment 1: Macro Branding Issues ● Brand Message ○ Dove for men ○ Dove for women ● Best global brands ○ Apple ○ Google ○ Coca cola ○ Microsoft ○ Ibm ○ Toyota ○ Samsung ● Brands and States ○ What brand is most associated with each place? ● Branding ○ Brand mark ■ The part of a brand that is not made up of words such as a symbol or design ○ Trademark ■ A legal designation of exclusive use of brand ■ Can take many forms, tiffany trademarked tiffany blue ○ Logos ■ Logos are sacred to loyal customers, emotional attachment ■ Sometimes clever hidden messages, baskin robbins (31 flavors), fedex (arrow) ● Levels of brand loyalty ○ Recognition ■ Buyer is aware brand exists and considered it an alternative if preferred brand is unavailable ○ Preference ■ Buyers prefers product over competitive offerings ○ Insistence ■ Product is strongly preferred buyer will accept no substitute ● Brand loyalty ○ Gillette sends you a razor on your 18th birthday ○ Also sends materials to groom yourself, cut your hair, dress in a suit ● Brand crisis ○ Many prominent and established brands deal with brand crises, which erode brand loyalty almost instantly

Segment 2: Strategic Branding ● Brand equity

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The marketing and financial value associated with a brand’s strength in a market ■ Brand name awareness ■ Brand associations ■ Perceived brand quality ■ Brand loyalty ○ Sometimes measured as the difference between price associated with branded vs. unbranded product Branding policies ○ Family brands, ex. Heinz ketchup, worcester, and cocktail sauce ○ Individual brands ○ Private label, connected to retailer, ex. Kirkland or great value Branding strategies ○ Brand extension ○ Brand stretching ○ Co-branding ○ Genericized brands Brand extensions ○ Brand extension - different product category ○ Ex. jello and jello pudding ○ Ex. tide pod and tide pen Brand stretching ○ Using an established brand in an unrelated market ■ Success depends on the strength of the original brand and consumers’ pre-existing brand associations Co branding ○ When two brands are presented together ○ Ex. peanut butter and jelly ○ Often from same company, can be different companies Generisized brand ○ Name and product category are the same ○ Ex. bandaid, velcro, thermos, tupperware, whiteout, play-do Brand counterfeits ○ Estimated losses to counterfeits $250-350 billion ○ Most targets are mass market products or products with high profitability ○ Most counterfeited brand, louis vuitton

Segment 3: Packaging ● Packaging ○ The development of a container or graphic design for a product ■ Gets attention and sends signals about product attributes and quality ■ Induces trail ■ Around ⅓ of product decision-making is based on packaging ■ Almost 40% of all consumers share photos of interesting packaging on social media

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Don’t get it wrong ■ Tropicana redesigned its packaging in early 2009 and was unrecognizable to customers ■ Lost 20% sales in first month ■ Caused them to revert back to original, did not even last two months with new design Attention grabbers ○ Nike air bag instead of shoe box for air maxes Luxury appeal ○ Ex. vodka, no one can tell difference between vodkas Clever ○ Anti theft lunch bag, looks like there's mold on it Green washing ○ Ex. scott naturals Utility ○ Gum pack ○ Dipping sauces Space saving ○ Grab and go lunch Space taking ○ Grey goose, beautiful frosted glass, tall bottle ○ Tall bottle for top shelf, only fits on top shelf, top shelf liquor?!...