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Principles of Marketing
Philip Kotler
Esseen arvioitu lukuaika on 6 minuuttia.

Branding

Branding is more than names, colors, symbols, and graphic design. Instead, brands represent consumers’ perceptions and feelings about a product and its performance- everything that the product or service means to customers. 

 

Products are created in the factory, but brands are created in the mind. 

 

Nowadays, we live in a branded society overcrowded with commercial messages and the never-ending supply of choices and opportunities inspired by the consumption sphere, popular culture, and work-life. 

 

In a society where everything is moving faster, a more globalized economy, faster communication, and substantial demographic change make many organizations, companies, medium enterprises, and small businesses focus on Branding. 

 

Today, not only business consultants and Pr agencies but also marketing researchers talk about Branding. And they share one idea navigating in this landscape is complicated. Branding is much more than offering superior services or products with a known framework. The people who are winning in the game of Branding are considered icons or gurus , understand that they are in the ideological business. 

 

We all know companies have a brand, also municipalities, churches, and unions also have brands, both in relation to their customers and in relation to their employees. This is called employer branding.

 

Tampere the city with a brand

 

Tampere city has engaged actively in brand building, e.g., the new Nokia stadium and the development programs for the city. 

Hiedanranta

The future smart and sustainable city. 

 

Tulli + 

the new railway station program.

 

Smart Tampere

The programme is building a sustainable and smart Tampere region in which housing, living and mobility are carbon neutral.

 

Tampere University collaboration. 

We carry out research and development projects together with companies, public organizations, the third sector and other higher education and research institutions. In addition, collaborative projects are conducted to develop new solutions that meet the needs of society and businesses.

 

Employer Branding

 

Employer branding is crucial to the success of the organization. Think of a successful organization, and you will probably conclude that its success is at least partly related to its employees.

Successful organizations are likely to understand the mechanisms of employer branding, and because of their resulting appeal, will find it easy to hire qualified people. 

Skilled employees like to work for organizations with strong employer brands, and with strong employers branding, the organizations are likely to benefit from less absenteeism, better retention levels, greater staff satisfaction and engagement, and higher profitability. 

 

Strong Brands have always been a competitive advantage in the labor market, e.g., Mercedes Benz leadership in Sidney.

Mercedez Benz created a different way to see a simple car salesman, which is very different from saying I’m a car salesman. If you say, “I’m a Mercedes-Benz salesperson,” the product brings certain standards to the occupation.

Young generations are more sensitive to brand messages than others because they grow in a heavily branded world. From an early age, they will have started internalising brand messages, and thus and thus for them, judging brands is a normal thing. Therefore, they are well aware of the advantages of strong brands in terms of image, reliability, and quality. Knowing what a strong brand can achieve, they will use that in planning their careers. They will have a clear idea of which companies looks good on the curriculum vitae and which ones don’t. 

 

Brand equity.

Brand equity is the differential effect of knowing the brand name on customers’ response to the product and its marketing. A powerful brand has high brand equity. It measures the brand’s ability to capture consumer preference and loyalty. A brand has positive brand equity when consumers react more favourably to ut than to a generic or unbranded version of the same product. It has negative equity if the customer responds less favorably than an unbranded version.

Some Brand as BMW, Coca-Cola, MacDonalds, become larger-than-life icons that maintain their power in the market for years, even generations.   

Brands such as Google, Youtube, Apple, win in the marketplace not simply because they deliver unique benefits or reliable service; rather, they succeed because they create a deep connection with customers. 

 

Young & Rubicam is an Advertising agent. They created a Brand Asset Valuator (BVA) that measures brand strength along with four customers perceptions:

Differentiation

Differentiation is the ability for a brand to stand apart from its competitors. A brand should be unique as possible. Brand health is built and maintained by offering a set of differentiating promises to consumers and delivering those promises to leverage value.

 

Relevance

relevance is the actual and perceived importance of the brand to a large consumer market segment. This gauges the personal appropriateness of a brand to consumers and is strongly tied to household penetration(the percentage of households that purchase the brand)

 

Esteem 

Esteem is the perceived quality and consumer perceptions about a brand’s growing or declining popularity. Does the brand keep its promises? The consumer’s response to the marketer’s brand-building activity is driven by his perception of two factors: quality and popularity, both of which vary by country and culture. 

 

Knowledge

knowledge extends the consumer’s awareness of the brand and understanding of its identity. The awareness levels about the brand and what it stands for show the intimacy that consumers share with the brand. True knowledge of the brand comes through brand-building. 

 

Differentiation and Relevance taken together say a lot its growth potential (Brand Vitality), while Esteem and Knowledge determine the current power of a brand ( Brand Stature).   

 

A brand with high brand equality is a very valuable asset. Brand valuation is the process of estimating the total financial value of a brand. Measuring such a value is difficult. According to Millward Brown, the brand value of Google is 158.8 billion. With Apple in second place with 147.9 billion, IBM third at 107.5 billion, Microsoft behind at 90.2 billion, and Macdonalds. 

 

Branding Positioning.

Marketers need to position their brands early in the target customers’ minds. Brand positioning allows a company to differentiate itself from competitors. This differentiation helps a business increase brand awareness, communicate value, and justify pricing — all of which impact its bottom line.

But not all brand positioning strategies are the same or have the same objective. Depending on the nature of your offering and industry, your positioning and messaging will vary. Let’s go over a few common positioning strategies that can help you get started.

 

Types of Brand Positioning Strategies

  1. Customer Service Positioning Strategy
  2. Convenience-Based Positioning Strategy
  3. Price-Based Positioning Strategy
  4. Quality-Based Positioning Strategy
  5. Differentiation Strategy
  6. Social Media Positioning Strategy
  7. Other Positioning Strategies

 

Brand name selection

A good name can add greatly to product success. However, finding the best brand name is a difficult task. It begins with a careful review of the product, its benefits, target market, and proposed marketing strategies. After that, naming a brand becomes part science, part art and a measure of instinct. 

 

For a good brand naming, are some qualities we need to follow:

  1. It should suggest something about the product´s qualities and benefits. 
  2. It should be easy to pronounce, recognize and remember.
  3. the brand name should be distinctive
  4. It should be extendable. 
  5. The name should translate easily to another language. 
  6. It should be capable of registration and legal protection. A brand cannot be registered if it infringes on existing brand names.

Naming a new brand is hard work. Once chosen, the brand name must be protected. Many firms try to build a brand name that will eventually become identified with the product category. Levi’s succeeded in this way. 

 

Brand sponsorship.

Brand sponsorship is a marketing strategy in which a brand is supporting an event, activity, person, or organization. Everywhere we go, we can witness sponsorship investments: music festivals, football games, beneficial events, etc. Sponsorship allows big, medium and small brands to partner with other companies and event agencies to generate a relationship that aims to gratify both the sponsor and the sponsee economically. But how does it really work and what is the expected return?

 

  • Increase brand awareness/visibility: whether you are a newborn brand or a well-established company, sponsoring is an activity that can help you gain awareness or increase your visibility addressing a broader target.
  • Increase your sales/acquire customers: this is the ultimate goal for every business. Getting to the top of the mind of new or existing customers not only increases awareness but can also directly drive sales, according to how the sponsorship is coherent with your marketing plan.
  • Gain publicity: can you imagine a startup that gets to be the sponsor of an important event or sports club? It seems like a natural consequence that the media will talk about this. Furthermore, people will share news on social networks. As a result, you can gain good exposure – all this for free!
  • Differentiate from the competition: if you find yourself in a very competitive and profit-shrinking market, being the sponsor of a big event or organization can give you the chance to stand out as a leader in your field.
  • Increase brand loyalty/premium prices: true, especially for sports sponsorship. In fact, it is statistically proven that, for example, fans of a particular team are more willing to buy from the sponsor than from its competitors. This leads to brand loyalty, which leads itself to customers being less sensitive to premium prices.
  • Increase your CSR reputation/brand image: finallysponsoring a charitable event or a foundation can enhance your brand image as a caring company. As a result, you will be able to witness a profit increase in the long term.

 

 

Kotler, P., Armstrong, G. & Parment, A. (2016). Principles of marketing: Scandinavian edition. (second Scandinavian edition.) Harlow, England: Pearson.

 

https://www.tampereenbrandi.fi/en/index/brand.html

 

http://ruby.fgcu.edu/courses/tdugas/ids3332/acrobat/bav.pdf

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