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Title: Strategic Marketing and Management - Brand Building and Strategies
Description: Marketing Masters degree notes on Strategic Marketing Management module
Description: Marketing Masters degree notes on Strategic Marketing Management module
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Lecture 6 - Building Strong Brands
Building Strong Brands and Branding strategies
Building brand loyalty is the basis of gaining profitable growth
Pareto rule 20/80
...
A "brand" guarantees to the consumer satisfaction of a specific want through products with unique
combinations of attributes
...
They are consistent, so lead to certainty and certainty leads to
trust
...
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Sustainable Loyalty (Positive attitude/ High repeat purchasing behaviour)
Latent Loyalty (Positive attitude/ Low RPB)
Spurious Loyalty (Negative attitude/ High RPB)
No Loyalty (Negative Attitude/ Low RPB)
Benefits of Branding
To consumer:
- lowers the levels of anxiety, re-assuring effect
- eases the decision process, speeds it up
To brand owner:
- regular purchases lead to revenue stream
- sustainability - brands are sustainable offerings
- create barriers to entry
- higher value purchases - improved margins
- Intangible assets - boosts share value
Brand Loyalty has a positive correlation with market share
...
Brand identity is the meaning and essence of the brand
Title: Strategic Marketing and Management - Brand Building and Strategies
Description: Marketing Masters degree notes on Strategic Marketing Management module
Description: Marketing Masters degree notes on Strategic Marketing Management module