2 Chapter Two Brand Management Copyright ©2016 Pearson Education, Inc. 2-1 Copyright ©2016 Pearson Education, Inc. 2-2 2 Brand Management Chapter Objectives 1. 2. 3. 4. 5. How does a brand image affect consumers, other businesses, and the company itself? What elements are involved in identifying, creating, rejuvenating, or changing a brand’s image? What are the different types of brand names? What are the characteristics of effective logos? What different kinds of brands can firms offer? Copyright ©2016 Pearson Education, Inc. 2-3 2 Brand Management Chapter Objectives 6. 7. 8. 9. How are brands developed, built, and sustained in order to build brand equity and fend off perceptions of brand parity? What current trends affect private brands? How are packages and labels used to support an IMC program, both domestically and in foreign settings? How are brands managed in international markets? Copyright ©2016 Pearson Education, Inc. 2-4 2 ”’2008 recession changed dining out DineEquity purchased Applebee’s IHOP CEO -Julia A. Stewart ”Minnow swallows the whale’ ‘Act of retribution ‘Marketing emphasis ‘Product quality, price, promotions ‘Quality employment environment ”’Enhance dining experience ‘Girl’s Night Out’ Advertising agency -Crispin Porter Copyright ©2016 Pearson Education, Inc. 2-5 2 Brand Management Chapter Overview ””Managing a brand image Issues associated with developing and promoting brand names and logos Brand equity versus brand parity Importance of packaging and labels Copyright ©2016 Pearson Education, Inc. 2-6 Brand image advertisement by Kraft Foods Copyright ©2016 Pearson Education, Inc. 2-7 FIGURE 2.1 Components of a Brand Image Tangible Elements n n n n n n n Goods or services sold Retail outlets where the product is sold Advertising Marketing communications Name and logo Packaging and labels Employees Intangible Elements n Corporate personnel -Ideals -Beliefs -Conduct n n n n Environmental policies Corporate culture Country location Media reports Copyright ©2016 Pearson Education, Inc. 2-8 Role of Brand Image Consumer Perspective ‘Provides positive assurance ‘Unfamiliar settings ‘Little or no previous experience ‘Reduces search time ‘Provides psychological reinforcement ‘Provides social acceptance Copyright ©2016 Pearson Education, Inc. 2-9 FIGURE 2.3 Top 10 Corporate Global Brands Rank Company Brand Value (Billions) Country 1 Apple $98.3 United States 2 Google $93.3 United States 3 Coca-Cola $79.2 United States 4 IBM $78.8 United States 5 Microsoft $59.5 United States 6 General Electric $46.9 United States 7 McDonald’s $41.9 United States 8 Samsung $39.6 South Korea 9 Intel $37.3 United States 10 Toyota $35.3 Japan Source: Based on ‘2013 Ranking of Top 100 Brands,’ Interbrand, www.interbrand.com/en/best-globa-brands/2013/top100-list, accessed September 30, 2013. Copyright ©2016 Pearson Education, Inc. 2-10 Role of Brand Image Company Perspective ””””Extension of feelings to new products Ability to charge more Consumer loyalty More frequent purchases Positive word-of-mouth Greater channel power Attracts higher quality employees More favorable ratings Copyright ©2016 Pearson Education, Inc. 2-11 Identifying the Desired Image •Evaluate current image •Ask customers •Ask non-customers •Can be strategic advantage Copyright ©2016 Pearson Education, Inc. 2-12 Creating the Right Image ‘Sends clear message ‘Portrays what the firm sells ‘Business-to-business may be challenging Copyright ©2016 Pearson Education, Inc. 2-13 Rejuvenating an Image ””’Sells new products Attracts new customers Retains current customers Key -Remain consistent with old and new Takes time and effort Copyright ©2016 Pearson Education, Inc. 2-14 FIGURE 2.5 Keys to Successful Image Rejuvenation n n n n Help former customers rediscover the brand Offer timeless consumer value Stay true to original, but contemporize Build a community Source: Based on ‘Comeback Kids: Haggar, Keds Stage Brand Revival,’ Advertising Age, October 30,2011, http://adage.com/print/230721. Copyright ©2016 Pearson Education, Inc. 2-15 Changing an Image ‘Extremely difficult ‘Necessary when target market declines or product no longer matches industry trends ‘Requires more than advertising ‘Begins internally -then moves outward Copyright ©2016 Pearson Education, Inc. 2-16 Corporate Names ””Overt names Implied names Conceptual names Iconoclastic names Copyright ©2016 Pearson Education, Inc. 2-17 FIGURE 2.7 Origins of Some Unique Corporate Names n Google -name started as a joke about the way search engines search for n Lego -combination of Danish phrase ‘leg godt’ which means ‘play well’ and n n Reebok -alternative spelling of ‘rhebok’ which is an African antelope Skype -original name was ‘sky-peer-to-peer,’ which was changed to ‘skyper’ n n Verizon – combination of Lain word ‘veritas’ which means ‘truth’ and ‘horizon’ Volkswagen – created by Adolph Hitler as a car for the masses that could n Yahoo -word from Jonathan Swift’s book Gulliver’s Travels, which information. Word ‘googol’ is one followed by 100 zeros. Latin word ‘lego’ which means ‘I put together.’ then to ‘skype.’ transport 2 adults and 3 children at speeds up to 62 mph. Name means ‘people’s car.’ represented a repulsive, filthy creature that resembled a Neanderthal man. Yahoo founders, Jerry Yang and David Filo considered themselves yahoos. Copyright ©2016 Pearson Education, Inc. 2-18 FIGURE 2.8 Tests of Quality Logos and Brand Names ‘Easily recognizable ‘Familiar ‘Consensual meaning ‘Stimulus codeability ‘Evokes positive feelings Copyright ©2016 Pearson Education, Inc. 2-19 FIGURE 2.9 Some of the Oldest Logos Company/Brand Year Company Founded Year Logo First Used John Deere 1837 1876 Coca-Cola 1886 1886 Johnson & Johnson 1886 1886 Union Pacific Railroad 1862 1888 Prudential Life Insurance 1875 1896 Campbell’s Soup 1869 1898 General Electric 1892 1900 Goodyear 1898 1901 Sherwin-Williams 1866 1905 DuPont 1802 1907 Source: Based on Samuel Weigley, Alexander Hess, and Paul Ausick, ‘The Oldest Company Logos in America,’ http://246wallst.com/2013/06/18/the-oldest-company-logos-in-america, June 18, 2013. Copyright ©2016 Pearson Education, Inc. 2-20 Brand Logos Aids in recall of specific brands ‘Aids in recall of advertisements ‘Reduces shopping effort ‘Reduces search time and evaluation of alternatives ‘Copyright ©2016 Pearson Education, Inc. 2-21 FIGURE 2 . 10 Tips on Creating or Changing Logos n n n n n The logo is a reflection of the brand. Creating logos requires knowledge and expertise. Use professional designers Make the logo simple Make the logo media transferrable Copyright ©2016 Pearson Education, Inc. 2-22 What colors should you use in your logo? n n n n n n Bonus Slide Black -seriousness, distinctiveness, boldness, power, sophistication, and tradition Blue -authority, dignity, security, faithfulness, heritage, corporate stability, and trust Brown/gold -history, utility, earthiness, richness, tradition, and conservative Gray/silver -somberness, authority, practicality, corporate mentality, and trust Green -tranquility, health, freshness, stability, and appetite Orange -fun, cheerfulness, warmth, exuberance, health, and youth Source: Adapted from ‘Jared McCarthy, ‘Logos: What Makes Them Work (Part 1of 2),’ (www.marketingprofs.com/5/mccarthy4.asp), February 22, 2005. Copyright ©2016 Pearson Education, Inc. 2-23 What colors should you use in your logo? n Pink -femininity, innocence, softness, health, and youth n Purple -sophistication, spirituality, wealth, royalty, youth, and mystery n Red -aggressiveness, passion, strength, vitality, fear, speed, and appetite n White/silver -purity, truthfulness, faith, contemporary, refined, and wealth n Yellow -youth, positive feelings, sunshine, cowardice, refinement, caution, and appetite Bonus Slide Source: Adapted from ‘Jared McCarthy, ‘Logos: What Makes Them Work (Part 1of 2),’ (www.marketingprofs.com/5/mccarthy4.asp), February 22, 2005. Copyright ©2016 Pearson Education, Inc. 2-24 Types of Brands ‘Family brands ‘Multiple products under one brand ‘Transfer associations ‘Brand extension ‘New good or service ‘Flanker brand ‘New brand within current category Copyright ©2016 Pearson Education, Inc. 2-25 FIGURE 2 . 12 Brands Sold by Procter & Gamble Cosmetics Dish washing Hair care CoverGirl Max Factor Cascade Dawn Ivory Joy Aussie Head & Shoulders Herbal Essences Pantene Copyright ©2016 Pearson Education, Inc. 2-26 FIGURE 2 . 13 Forms of Co-Branding (Alliance Branding) Ingredient Branding Co- Branding Cooperative Branding Complementary Branding Copyright ©2016 Pearson Education, Inc. 2-27 Developing Strong Brands Begins with understanding why consumers buy a brand. ”””Where does your brand stand now? What are your objectives? What are you doing in terms of building your brand and business? What are your brand’s strengths? Weaknesses? Which opportunities should be pursued first? Where are the pitfalls? Copyright ©2016 Pearson Education, Inc. 2-28 FIGURE 2 . 14 Building Powerful Brands n n n n n n n n n Invest in the brand Create awareness Offer authenticity or uniqueness Build trust Deliver an experience Offer value Utilize social media Utilize mobile phones Act responsibly Copyright ©2016 Pearson Education, Inc. 2-29 Skyjacker has built a powerful brand by providing customers with a good experience and delivering value. Copyright ©2016 Pearson Education, Inc. 2-30 Brand Loyalty n Ultimate objective n Only brand that customers purchase n Drivers of brand loyalty -Emotion -Value n Consumer experience Copyright ©2016 Pearson Education, Inc. 2-31 F I G U R E 2 . 15 Top Brands (CLEI) Category Top Brand CLEI Emotional Engagement Athletic Footwear Sketchers 86% JP Morgan Chase 79% Car Insurance State Farm 82% Casual Dining Applebee’s 82% Clinique 93% Gasoline Shell 80% Major League Sports NFL 86% Pizza Domino’s 84% Quick Service Restaurant Subway 95% Diet Coke 89% Bank Cosmetics Soft Drinks (Diet) Source: Based on ‘Brand Keys 2013 Customer Loyalty Index Finds Seismic Shift I How Consumers Emotionally Engage with Products, Services,’ Press Release, http://brandkeys.com/wp-content/uploads/2013/02/2013-CLEI-Press-Release-FINALOverall.pdf Copyright ©2016 Pearson Education, Inc. 2-32 Brand Equity n Brand parity n Brand equity -Set of characteristics makes brand unique -Helps fight brand parity -Perceived better Copyright ©2016 Pearson Education, Inc. 2-33 F I G U R E 2 . 16 Methods of Measuring Brand Equity n n n n Financial value Stock market value Revenue premium Consumer value Copyright ©2016 Pearson Education, Inc. 2-34 F I G U R E 2 . 17 Top Ten Most Loved Brands Rank Company Emotional Index 1 Disney 74.7 2 Yahoo! 74.3 3 Google 74.2 4 Sony 74.1 5 Nestle 73.3 6 Auchan 72.9 7 Netflix 72.8 8 Whole Foods 72.7 9 Apple 72.7 10 Lowe’s 72.5 Source: Based on Christopher Heine, ‘Check Out the Top 100 Beloved Brands,’ Adweek, www.adweek.com/news/advertising-branding/check-out-the-top-100-beloved-brands, October 10, 2013. Copyright ©2016 Pearson Education, Inc. 2-35 Private Brands ‘Popularity has fluctuated ‘Connotation of low price, low quality ‘Historically à price-sensitive consumers ‘Retailers investing in private brands ‘Consumers see few differences Copyright ©2016 Pearson Education, Inc. 2-36 FIGURE 2 . 16 Changes in Private Labels ”””Improved quality Perceived as a value purchase Higher loyalty towards retail outlets and lower loyalty towards specific brands Used to differentiate retail outlets Increased advertising of private brands Increased quality of in-store displays and packaging of private brands Copyright ©2016 Pearson Education, Inc. 2-37 Advantages to Retailers Private Labels ””’Higher gross margins Lower prices Greater loyalty to stores and brands within a store Differentiates stores from national brands J.C. Penney -private labels Copyright ©2016 Pearson Education, Inc. 2-38 FIGURE 2 . 19 Tactics Used to Combat Private Labels ””’Focus on core brands Increase advertising Introduce new products Focus on in-store selling, packaging Use alternative methods of marketing Source: Adapted from Vanessa L. Facenda, ‘A Swift Kick to the Privates,’ Brandweek, Vol. 48, No. 31 (September 3, 2007), pp. 24-28. Copyright ©2016 Pearson Education, Inc. 2-39 Packaging ””’Final opportunity to make impression 69% of purchase decisions made in-store Have three seconds to catch attention Must stand out Tell customers what is inside Copyright ©2016 Pearson Education, Inc. 2-40 FIGURE 2 . 18 Primary Purposes of Packaging n n n n n n n Protect product Provide for ease of shipping and handling Provide for easy placement on shelves Prevent or reduce theft Prevent tampering (drugs and food) Meet consumer needs for speed, convenience, and portability Communicate marketing message Copyright ©2016 Pearson Education, Inc. 2-41 Labels ‘Must meet legal requirements ‘Provide marketing opportunity Copyright ©2016 Pearson Education, Inc. 2-42 FIGURE 2 . 21 Uses for QR Codes Packages and Labels n n n n n n Access product information Access videos on product use Access recipes and nutritional information Compare sizes, brands, and styles Access product reviews and ratings Provide links to social media and entertainment sites Source: Based on Heidi Tolliver-Walker, ‘The Top Five Most Effective Ways to Use QR Codes on Packaging,’ Seybold Report: Analyzing Publishing Technologies, Vol. 12, No. 1, January 9, 2012, pp. 2-6 Copyright ©2016 Pearson Education, Inc. 2-43 Ethical Issues ‘Brand infringement ‘Brand name becomes a generic term ‘Domain or cyber squatting Copyright ©2016 Pearson Education, Inc. 2-44 International Implications ”””’Adaptation vs. standardization Standardization reduces costs Shrinking world à standardization High-profile, high-involvement -global brand Low-involvement products -local brand Packaging and labeling Image and positioning issues Copyright ©2016 Pearson Education, Inc. 2-45 Blog Exercises Copyright ©2016 Pearson Education, Inc. 2-46 Integrated Advertising, Promotion, and Marketing Communications Copyright ©2016 Pearson Education, Inc. 2-47 th edition 8 Integrated Advertising, Promotion, and Marketing Communications Kenneth E. Clow Donald Baack P Pearson Purchase answer to see full attachment

Mastering the Art of Online Learning: Your Guide to Acing Online Courses

Introduction

In recent years, the popularity of online courses has skyrocketed, offering learners the flexibility to acquire new skills and knowledge from the comfort of their homes. However, succeeding in online courses requires a different approach compared to traditional classroom settings. To help you make the most of your online learning experience, this article presents essential strategies and tips to ace your online courses.

1. Set Clear Goals and Plan Ahead

Before embarking on an online course, establish clear goals and objectives. Determine what you hope to achieve by the end of the course and break down your goals into manageable milestones. Create a study schedule that aligns with your other commitments, ensuring you allocate dedicated time for coursework, assignments, and revision.

2. Create a Productive Study Environment

Establishing a conducive study environment is crucial for online learning success. Find a quiet, well-lit space where you can concentrate without distractions. Remove any potential interruptions, such as notifications from social media or email. Organize your study materials and have a reliable internet connection to ensure seamless access to course materials.

3. Actively Engage in the Course

Active participation is key to mastering online courses. Engage with course materials, including videos, readings, and interactive components. Take comprehensive notes, highlighting key concepts and ideas. Participate in discussion boards, forums, and virtual meetings to interact with instructors and peers, fostering a sense of community and enhancing your understanding of the subject matter.

4. Manage Your Time Effectively

Online courses offer flexibility, but it’s essential to manage your time wisely to avoid falling behind. Create a detailed schedule, allocating specific time slots for coursework, assignments, and studying. Break down larger tasks into smaller, manageable segments to prevent procrastination. Prioritize tasks based on deadlines and dedicate focused time to each one, ensuring consistent progress throughout the course.

5. Develop Effective Communication Skills

Online courses often rely on written communication, making it crucial to hone your skills in this area. Be concise and clear in your written responses, paying attention to grammar and spelling. Actively participate in discussions, asking thoughtful questions and providing constructive feedback to your peers. Regularly check your course emails and notifications, ensuring you stay updated with any important announcements or changes.

6. Utilize Available Resources

Take full advantage of the resources provided by your online course platform and instructors. Familiarize yourself with the learning management system (LMS) and explore its features. Access supplementary materials, such as textbooks, lecture slides, and external resources recommended by instructors. Utilize online libraries, research databases, and tutorial services to deepen your understanding of the subject matter.

7. Stay Motivated and Engaged

Maintaining motivation throughout an online course can be challenging, particularly when faced with competing priorities or a lack of face-to-face interaction. Set short-term goals and reward yourself upon their completion. Connect with fellow learners through virtual study groups or online forums to foster a sense of camaraderie. Regularly remind yourself of the benefits and personal growth associated with completing the course successfully.

8. Seek Support and Clarification

Don’t hesitate to seek support or clarification when needed. Reach out to your instructors for guidance or clarification on course material. Utilize online discussion forums to ask questions or engage in collaborative problem-solving. Leverage the support services provided by your course platform or institution, such as technical support or academic advising.

Conclusion

Online courses present unique opportunities for self-paced learning and personal growth. By setting clear goals, creating a productive study environment, actively engaging with course materials, and managing your time effectively, you can maximize your chances of acing online courses. Remember to stay motivated, seek support when needed, and make the most of the available resources. Embrace the flexibility and adaptability of online learning to achieve your educational goals.