Branding and advertising Brand Management

Types of brand portfolios: -[blank_start]House of brands[blank_end]: treats each product/service as a standalone brand, benefits: offers multiple options to a customer, more common in western world (EG Procter and Gamble own A[blank_start]rie[blank_end]l, Al[blank_start]way[blank_end]s and Crest toothpaste) -[blank_start]Branded house[blank_end]: sees each product/service as part of a single master/corporate brand, gains strength in numbers, better in em[blank_start]erging[blank_end] markets due to economies of [blank_start]scale[blank_end] in advertising etc (EG Virgin own airplanes, [blank_start]mobile[blank_end] network and trains)

House of Brands style brand portfolios are very common in western world but Japan estimated that 1000 new soft drinks were launched in one year with [blank_start]99[blank_end]% failing (De C[blank_start]Hernatony[blank_end] et al, 2001)

[blank_start]Umbrella[blank_end] brands: display corporate brand and product name across a range of markets. Different markets with different types of products happen through brand ex[blank_start]tension[blank_end]. (EG S[blank_start]amsung[blank_end] do phones and washing machines) Some M[blank_start]aster[blank_end] brands: stay within one broad product category but with a range of product options to support corporate brand and not di[blank_start]lute[blank_end] brand value (EG N[blank_start]ivea[blank_end])

Brand lifecycle: from build-up/chal[blank_start]lenger[blank_end] ---> mature/leader phase but this does not correlate with the products lifecycle. EG G[blank_start]illette[blank_end], Hoover, Hovis and After Eights go back over [blank_start]7[blank_end]0 years but have evolved with the markets. EG Apple nearly failed in the mid 19[blank_start]90[blank_end]'s but the release of the iPod saved it

Brand [blank_start]biographies[blank_end]- when brands explain their history and changes over time as a selling point, can strengthen connection with customers ([blank_start]Avery[blank_end] et al). (I av-a-really good story to tell you)

Market [blank_start]Maps[blank_end] focus on what drives decisions in their market and enables them to see how they diff[blank_start]erentiate[blank_end]. EG [blank_start]Samsung[blank_end] initially laughed at Apple because they thought nobody would ever pay that much for a phone

Brand equity: how much is it worth?? marketing approach: how consumers res[blank_start]pond[blank_end] to the brand name rather than the product/service itself fi[blank_start]nancial[blank_end] approach: put a dollar value on the brand