MKT09709: The aim of this module is for you to develop your knowledge and understanding of brand management: BRAND MANAGEMENT Report, ENU, Singapore

Aim of the module

The aim of this module is for you to develop your knowledge and understanding of brand management. Through analysis and critical evaluation of brand management theory, you will be able to fully appreciate the value of brands to organisations, and to consumers. In undertaking this module, you will develop an ability to demonstrate understanding and application of key theories, principles and practices of strategic brand management.

Topic 1: Introducing Brands and Brand Management

Brands are not simply products with well-known names. There are dimensions which are often intangible that can be the key that consumers use to differentiate one brand from another.

In many competitive industries that have a huge amount of similar products available, the way in which a strong brand succeeds above all others is what you will be able to recognize after studying this module.

In this first topic, you will be introduced to brands and some of the challenges brand managers have to acknowledge, and also the opportunities that a strong brand can give to organizations. We also consider brands from a consumer perspective.

Topic 2: Beyond the Functionalism of a Brand

This lecture explores the mechanisms of developing a brand through the development of brand identity, brand image and brand personality. A strong brand has a sure identity, a positive image and a unique personality. This lecture also discusses how brands succeed because customers perceive them as having value over and above that of the “equivalent” commodity. Whilst the functional values of a brand are important, they can easily be copied by competitors. On the other hand, the emotional (psychological and social) values can offer unique brand differentiation in the face of competition.

Topic 3: Brand Positioning

Market segmentation has a major impact on marketing theory and practice. It is based on the premise that potential customers are not all the same, and that an organisation should develop different marketing programmes for different subgroups of a population, or develop one programme tailored to a single subgroup. When a new brand is being introduced, it is crucial that an organisation can identify potential customers and effectively target them.

Topic 4: Brand Equity

Customer-based brand equity (CBBE) focuses on brand knowledge and how this can impact and influence consumers response to the brand. We consider the Customer Based Brand Equity (CBBE) Model and examine key dimensions. This model outlines four key steps that are required to build a strong brand. Stage 1 relates to brand identity. Stage 2 is about creating ‘meaning’ for the
brand. Stage 3 is concerned with ‘response’ from consumers. And the final stage is about development of relationships with consumers.

Topic 5: Brand Extension and Secondary Associations in Branding

We now take a more focused look at brand extension, co-branding and secondary associations of brands. There has been an increase in brand extensions, which essentially is taking an existing (and hopefully successful) brand name, and using it with a new product. Brand extensions offer benefits for consumers, which include risk reduction due to recognised brand values and associations of an already familiar brand. Co-branding occurs when two or more brands are combined into a joint product or marketed together in some fashion.

Secondary associations refer to other entities to which a brand is linked. Secondary associations can assist in branding in terms of associations with country of origin, channels of distribution, spokespeople, events, characters, other brands, and thirdparty sources.

Topic 6: Branding and Consumers

This topic explores the relationship between consumers and brands. We discuss the concept of consumer involvement. Consumer involvement with brands depends on individual differences, product characteristics and situational characteristics. We also explores the typology on how consumers make decisions and the level of relationship between consumers and brands.

The role of influencers and opinion leaders in consumer decision making process is also discussed. The second part of the lecture explains the concept of consumer empowerment through mass customisation, open
innovation and crowdsourcing. Finally, we discuss the concept of co-creation that could possibly transform a company’s competitive advantage and help to create a successful brand.

Topic 7: Services and B2B Branding

The reason we include a topic on branding of services, is because of the growth of service industries. The marketing of services presents different challenges than if your organisation was involved in manufacturing of physical goods. In this topic we will examine what makes services different and consider how organisations can tailor and manage their organisation so that consumers will select them initially – and in the longer term remain loyal to the organisation.

This lecture also explores the differences between B2C and B2B marketing, and subsequently, branding. We discusses the application of brand equity pyramid in the context of B2B customers.

Topic 8: Advertising and Digital Branding

In this, and the next two topics, we move away from the Keller textbook as the main focus of design of the module. We acknowledge some key areas of significance in relation to brand management. This two-topic lecture was originally based on Riezebos (2003). However, as that textbook hasn’t been updated, we supplement with other, to give a modern perspective and more depth to this introduction to these two important themes. The Internet has evolved and now we go online using a range of other devices and the lecture closes with a consideration of new technologies which offer opportunities (and challenges) to brand managers and marketers.

Topic 9: International Branding Strategy

Increasingly, organisations are willing and able to extend the scope of their market, to include trading on a global perspective. This topic looks at both the benefits, but also some of the key considerations necessary for any organisation looking to expand into new markets. This topic also explores elements that remain the same (standardisation) and elements that change (modification) when going international. We will also explore the concept of global brand value propositions.

Topic 10: Brand Crisis

This lecture evaluates the concept of brand crisis. We explores the “deadly sins of branding” and different sources of brand crisis. The lecture explores various examples of brand crises, the brand manager’s responses and the implications on the brands. We also discuss how brand managers can navigate brand crisis as well and rebuild brands.