XCPD-524 Building Strong Brands
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This course examines the broad topic of brand equity and brand management, both critical to an effective marketing strategy and building relationships with stakeholders such as customers, suppliers, and partners. For many companies, the most valuable asset is the brand name associated with its products or services. Yet too often marketing decisions affecting product policy, pricing, advertising or distribution are taken without considering their impact on brand equity or, alternatively, optimally leveraging it. Thus the focus of this course will be to explore and understand the importance of brands, what they mean to consumers, and, most importantly how they should be managed to the greatest benefit of the organization, whether that be a consumer business, B2B, or not-for-profit.
By the end of the course, participants will be able to:
- Examine the broad topic of brand equity and brand management
- Understand how brands build relationships with stakeholders such as customers, suppliers, and partners
- Design and present a branding strategy for your organization of choice
Building, Nurturing and Managing Brands
One of the earliest applications of branding was branding cattle. In modern times, branding started in right earnest with P&G’s efforts in the 1930s. When Nestle bought confectionary company Rowntree, it paid 4.5 billion dollars not for the latter’s plant and machinery or infrastructure but its brands like Kit Kat. Brand is important because it adds value to a product and forestalls commoditization. Marks and Spencer earn in pounds because they own the brand. Its contract manufacturers probably make pennies because they sell the product. That is the difference between the product and the brand. So, the fundamental questions for this program are –
i) How to convert a product into a brand? ii) How to build a sustainable brand?
- Giving participants a working knowledge of the principles of branding
- Giving them the ability to use some frameworks to systematically build a brand
- Participants taking back with them some templates which can be used for brand building in future
Consider the following questions –
- how to build a resilient brand identity?
- What is brand equity? How to gain brand equity?
- Are services branded in the same fashion as products? How is service branding different?
- Are brand extensions a boon or bane? How far to extend a brand?
- How to build a corporate brand?
- How to build a cult brand?
- These are some of the topics to be discussed over a 3-day period in the program
- A broad understanding of branding as a discipline
- A set of principles that can be used for building new brands and nurturing old brands
- A selection of conceptual frameworks for different aspects of branding like brand identity, brand equity, brand extensions, corporate branding and services branding
Who should attend
- Senior and middle level marketing, sales and brand managers who want to acquaint themselves with brand management or sharpen their knowledge of the domain
- Top management who are not basically from the marketing function but would like to know how to build a brand
- Entrepreneur CEOs interested in brand building and are not familiar with the techniques of branding