Closing Observations: Preview: This chapter includes various closing observations regarding the strategic brand management.

At first, the CBBE framework is illustrated. Then, brand management guidelines, sources, failures, and summary of success factors will be upheld. Next, some discussion from Chapter 1 Brand & Brand Management will be reviewed. Following up on a few topics related to the applications of CBBE framework. Besides, strong brand factors will be analyzed. Finally, we will prospect the future of the brand and brand management. The brand focus will represent a report card to assist the brand managers & executives not only to comprehend but also to rate their brands performance on key brand dimensions.

Strategic Brand Management Guidelines: Strategic Brand Management: Strategic brand management is the conduct of drafting, implementing and evaluating crossfunctional decisions that will enable an organization to achieve its long term objective to the proportion of consumers who know of their brand. Brand awareness: Brand awareness is a marketing concept that measures consumers knowledge of a brand existence. Example: when we see logo of a star we able to understand that here flexi load can done. Brand Image: An Image that is evoked by exposure to a named brand is called brand image. Like brand personality, brand image is not something you have or you don't! A brand is unlikely to have one brand image, but several, though one or two may predominate. The key in brand image research is to identify or develop the most powerful images and reinforce them through subsequent brand communications. The term "brand image" gained popularity as evidence began to grow that the feelings and images associated with a brand were powerful purchase influencers, though brand recognition, recall and brand identity. It is based on the proposition that consumers buy not only a product (commodity), but also the

image associations of the product, such as power, wealth, sophistication, and most importantly identification and association with other users of the brand. Summary of Customer Based Brand Equity (CBBE) Framework: Sources of Brand Equity: 1. Strength: The more deeply a person thinks about brand information and relates it to exploiting brand knowledge, the stronger the resulting brand associations. 2. Loyalty: It is the belief and faith shows by the consumer towards a particular brand, expressed through their repeat purchase irrespective of preserve of competitive brands. Example: Life Boy soap. 3. Favorability: It refers to the consumers desirability to the products of the marketer which is successfully convoyed by the supporting marketing program. 4. Uniqueness: 5. Perceived quality: A customer' opinion of a product' value to him or her. It may have little or nothing to do with the product's market price and depends on the product's ability to satisfy his or her needs or requirements. Outcomes of Brand Equity: Higher volume sales. More inelastic consumer response to price increase. Greater trade cooperation and support. Increased marketing communication effectiveness. Possible licensing opportunities. Additional brand exertion opportunity. Greater loyalty

Tactical Guidelines:

Building Brand Equity: Ensure customer satisfaction through a high level of perceived quality and create a rich brand image. Example: Grameen Phone Providing efficient range of direct and indirect distribution options. Example: Unilever Taking value-based pricing strategy to set price and guide discount pricing policies overtime that reflect consumers perception of value. Example: Airtel BD Mix and matching brand elements- brand names, logos, symbols, characters, slogan, jingles and package by choosing different brand elements to achieve different objectives. Example: Banglalink Matching marketing communications options by ensuring consistency and directly reinforces some communications options with other communication options. Example: Prothom Alo Measuring Brand Equity (In Respect of Bangladesh): Ensuring product and marketing actions across division and geographic boundaries are done in a way that reflects the spirit of the character and the substance. Making brand inventories to view how all of the products sold by the company. Holding consumer tracking studies on a routine basis to provide as to how brands are performing with respect to the key sources and outsources of brand equity. Congregating re4sults of tracking survey and other relevant outcome measures.

Managing Brand Equity:

What Makes a Strong Brand in Bangladesh? Building a strong brand require several criteria to be followed. In Bangladesh successful company has followed these criteria to make their strong. Marketing manager of a successful company sincerely scrutinizing these criteria: Brand Meaning: Understanding what is represented by brand and focusing which characteristics is consistent with the brand. Nature of Market: How the market being served is consist of. How change come to here. What is the trend of this market. What consumption pattern followed by the customers. Market in Appropriate Manner: Appropriate product should be chosen foe customer .Distribution channel should appropriate. Positioning product: Offering value proposition- set of benefit or values it promises to deliver to customer to satisfy their needs. Superior Product or Services: Product or services delivered to customer should be superior in comparision to competitors. Benefit that is expected should be superior than competitors. To create a strong brand and maximize brand equity in Bangladesh, marketing must do the following: Positioning the brand properly.

Adding value in every stage of the product. Providing superior delivery of delivery of desired benefits. Maintaining innovations and relevance for the brand. Keeping immediately recognizable brand name. Measure consumer perceptions of value and develop pricing strategy accordingly Implement a brand equity management system to ensure that marketing actions properly reflect the brand equity concept.

Employment of complementary brand elements Supporting marketing activities Secondary associations Integrated marketing communications Consistency between pricing strategy and perception of value Consumer perception about value should be taken into consideration when devwloping pricing strategy.

Establishment of credibility and brand personality Innovation and relevance for brand Brand hierarchy and portfolio Brand equity management system What makes strong brand

A weak brand is susceptible to scrutiny by critics, encroachment from competitors and increased pressure from channel partners. In this economy, a weak brand has little to draw

from besides price reductions and desperate promotions to generate interest. In contrast, a strong brand counteracts the downward pull of a tough market by sustaining price premiums and higher margins because differentiation clears perception and results in its offerings are perceived to be differentiated and of higher value. A strong brand also staves off competitive threats because it is not as easily copied. The benefits of a strong brand include increased market value of the business to investors due to stronger customer equity, more efficient operations and intangibles/goodwill, as well as more negotiation power with suppliers, channels and M&A prospects. The stronger your brand, the more efficient and effective your organization becomes, because employees are aligned and focused. So what makes a strong brand strong? A strong brand distinguishes itself by being the following: Meaningful: a strong brand is relevant and compelling to its target customers. Some brands create desire; others meet existing demandeither way, the customers you care about have to, in turn, care about what the brand delivers. Differentiating: a strong brand gives the business a distinct advantage over competitors. Moreover, the difference must make a differenceyour target customers should perceive the difference and think it is important. Believable: a strong brand doesnt stretch too far or overpromise. These days people are savvy and naturally skepticalthey know if something sounds too good to be true, it is. So the way you communicate about your brand should be authentic. Transcendent: a strong brand conveys value beyond a specific offering. The reality is, great products come and go. A strong brand adds value to a great product when it has one, and still gives people a reason to buy when it doesn't. Consistently Experienced: a strong brand is expressed and delivered consistently across all touch pointsnot just in advertising and marketing communications, but in everything

the company does. Strength: A brands strength, however, is measured by more than the way people who are buying or using the brand perceive itthat is, the external perspective. Internal perceptionsthose of the people responsible for developing and delivering the brand also play a role. The internal perspective on brand strength includes whether the brand is: Sustainable: a strong brand enables the business to compete now and in the future. Not a fad-dependent or short-lived idea, a brand should be an enduring proposition that drives continuous improvement and innovation for the organization. Adding Business Value: a strong brand makes business sense. You should be able to show measure and manage the causal relationship between brand expenditures and increased revenue. Usually it goes something like: brand spend image equity customer preference customer purchase/repurchase revenue increase. Clearly Articulated: a strong brand is clearly defined and described to all stakeholders. A stakeholder is a person or group that has an investment, share or interest in something. In this case, that something is your brand, so your stakeholders are employees, business partners like vendors and distributors, agencies, and investors or shareholders. Alignment in brand execution begins with common understanding. Used As a Tool: a strong brand inspires, informs and instructs all stakeholders so that they interpret and reinforce it in their daily decision-making and actions. The brand should drive the organization, guiding every single business task. Operationalized: a strong brand must be more than a vision a company expresses in advertisingit must be what it does and what it delivers. Operationalizing the brand involves the deliberate and systematic management of the business around the brand identifying, prioritizing, and implementing programs and initiatives to deliver brand values and attributes through the core organizational operating system. Rather than fretting over limited marketing budgets and skyrocketing media costs, use the above criteria to take an honest assessment of your brand. In doing so, youll uncover the

areas to prioritize for brand-building efforts. You may discover that the ways to strengthen your brand depend less on how much (or little) money you have, and have more to do with focusing your efforts internally and putting your brand in the drivers seat of your organization. Reasons for Brand Failure: Failure to fully understand brand meaning. Understanding consumer feelings about brand is critical for planning and implementing brand marketing programs. Making validity of marketing action justified based on a mistake belief often results negative outcomes. For example Aktel has changed its brand name into Robi without considering customer feelings and habits. As a result it did not gain expected response from customers. Failure to fulfill brand promise. When company set high level of brand expectation and consumer develop high level of perceived value from that the company often unable to fulfill that promise. Overpromising is worse than not promise. Failure to adequately support the brand Brand support requires investment in marketing. Building and maintaining brand knowledge structure also expensive. So manager must have to spend for supporting brand. Expectation to get something in exchange of nothing hinders brand support. Failure to be patient with the brand Building brand equity is like a process. This is build from ground up like a foundation. A firm foundation of firm equity consist of the extent to which consumer has knowledge about the breadth and depth of brand. It also depend on how strong favorable and unique associations of memory consumer has. Managers should consider all possible variables and avoid short cut way. They should never bypass basic consideration such as achieving necessary level of brand consideration.

Failure to adequately control the brand Understanding brand equity to a standard level by all employee is essential for controlling brand. A firms action must reflect a broader corporate perspective. So making decision about brand without taking into consideration of current and desired brand equity and impact of these decisions on other brand or brand related activities results lost of control of brand.

Failure to properly balance consistency and change with the brand Managing brand require consistency between maintaining consistency in marketing activities and implementing changes to update the product or image of the product. Often manager give less attention on balancing between change and brand images.

Failure to understand the complexity of brand equity measurement and management: Managing brand effectively requires discipline, creativity, focus and the ability to make hundreds of decisions in the best possible manner. Only one action or measure is not enough for building brand equity. So managers must be conscious about complexities of measurement and management.

Special Applications: Application of Brand at Special Area: We know that product encompass not only physical goods but also service ,retail stores, people, organization , places and ideas etc. some product need special attention to promote brand equity. Other needs general guideline for building, measuring, and managing brand equity. These are less conventional type product. They include: Industrial to business to business product High technology products Services

Retailers Small business Online brands

Industrial & Business-to-Business Products: Different branding practices are exercised in industry to business to business products .some basic guidelines are: a. Adopting Corporate or Family Branding: Companies selling industrial goods often carry a large and complete number of product lines and variations. So they should be categorized. b. Brand Hierarchy: Brand hierarchy is required so that it become easier to manage a large number of complex product lines. c. Linking Non Product Related Imagery Associations: Factors that influence to purchase industrial goods are often different than that of consumers goods. Here customers are more national product related associations. So industrial brands emphasize more on functionality and cost benefit consideration. However including these association, non performance related associations can be useful in forming good brand equity. BSRM focus on strength of its product as well as the safety, security and happy events related to product functions. Company can associate imagery associations to build credibility of brand. Such as after sales service can be focused to provide hassle free delivery and performance. d. In Forcing Full Range of Marketing Communications Options: The way in which industrial product is sold is different than that of consumer product. Industrial products contain more detailed information about product at the same time personal selling is considered critical/crucial for brand equity. Other communication option can be used to enhance awareness or formation of brand associations. Combining direct messages with image related indirect message is one effective marketing communication approach. It expresses what the company is all about.

e. Leverage Equity of Other Companies That Are Customer: Some firm leverage their company equity with other company performance that enhances its credibility. For example, Shah Cement focuses on building Karnafuli Bridge using its own materials. f. Appropriate Segmentation: In industrial product different customers have different needs is essential for promoting brand equity. For example Qubee segments its industrial customer based on the intensity of usage and speed required. g. Customized Branding and Marketing Program: Different customer segments such as Engineer, Accountant, Purchase manager expect different customized product/service that will enhance their performance. Providing customized product for them make branding more customized and focusing these customization on marketing program makes sense of industrial customer. Hi-Tech Products: High-tech product is physical products which change rapidly because of innovation and R & D breakthrough. High tech product is not only sophisticated to computer or microprocessor rather it has played important in branding of product like Gillette razor or Nike athletic shoes. Some guidelines: Brand Awareness and Rich Brand Image: High tech product requires high brand awareness. To capture large market share high tech company build awareness and position rich image. For example; Qubee and Zoom Ultra. Creating Corporate Credibility Association: To capture large market share high tech company try to create corporate credibility. High tech product are often complex and subject to continuous change so rapid turnover of product is the need to create corporate credibility association. Leveraging Secondary Association Of Quality: High quality is expected by customer in the high tech product. So, whenever building marketing program quality should be focused consistently with the performance. For example; Qubee has focused on speed and demonstrated its performance in different important site of Dhaka and other divisional city. Third party

endorsements from top companies, leading consumer magazine or industry export ma help to achieve necessary perception of product quality. Services: Service is an activity of perishable benefits that delivered from the accountable service providers mostly in close connection of service providers and generated by functions of technical system or distinct activities of individual. One of the challenges in marketing services is that they are less tangible than products and more likely to vary in quality depending on the particular person or people providing them. Branding a service can also be an effective way to signal to consumers that the firm has designed a particular service offering that is special & deserving of its name.

1. Regional unique ways to maximize service quality. 2. Build effective organizational community. 3. Expand brand image by increasing a full range of sign, symbol and logo. 4. Making effective communication programmed to enhance customer experience. 5. Family or individual brand helps to establish strong brand hierarchy. Additional guideline for services

Challenges: There are some challenges in service branding those are given in near below: Intangibility. Heterogeneity Inseparability

Perish ability

Goods Tangible

Services Intangible

Services branding implications Service brand cant be patented. Service brand cant be inventoried. Service brand cant be readily displayed or

communicated. Pricing service brand is difficult. Service brand face difficulties delivering on promises. Service brand quality depends on many

Standardized

Heterogeneous

uncontrollable factors. Inseparability Simultaneous production Customer transaction. Employee may affect the service brand outcome. Customers may affect one another in the service brand transaction. Satisfaction of service brand is influenced by expected and perceived behavior of service providers customer. Nonperishable Perishable Mass production of service brands is difficult. Service brands face challenges to build and sustain image and reputation to retain customers. Fluctuating demand can cause problem for branding services. participates on the service brand

Proposed Service Branding Model: Brand as product

Brand as process

Brand Brand as person

Brand as symbol

Brand as organization

Dimensions: Researchers have identified a number of dimensions of service quality: a. Reliability-perform promised service dependably and accurately. b. Responsiveness-willingness/readiness to provide prompt service. c. Competence-possess knowledge and skill to perform the service. d. Access-approachability and ease of contact of service personal. e. courtesy-politeness, consideration and friendliness of service personal. f. communication-keeping customers informed linking to customers. g. credibility-trustworthy, believable and honest. h. security-freedom for danger risk or doubt. i. understanding/knowing customer-knowing customers need. j. Tangibles-Physical evidence of service. The five service dimensions customer care about:

The Five SERVQUAL Dimensions Are: 1. TANGIBLES-Appearance of physical facilities, equipment, personnel, and communication materials 2. ELIABILITY-Ability to perform the promised service dependably and accurately 3. RESPONSIVENESS-Willingness to help customers and provide prompt service 4. ASSURANCE-Knowledge and courtesy of employees and their ability to convey trust and confidence 5. EMPATHY-Caring, individualized attention the firm provides its customers.

1.Lesson of listening-if we continuously learning about customers expectations, needs and wants then we easily identify what the customer really want and understand their perceptions. 2. Lesson of reliability-it is the most important dimension of improving service quality because here company at first priority their service and performed promised service dependably & accurately. 3. Lesson of basic service-company provides some basic service for their customers. They can try to provide service which they are promised, to understand customer needs and wants they use their common sense. They always updated current information about customers demand and determined value to the customers. 4. Lesson of service design-when they design they product at first they should know the customers perceptions and managing its many detail. 5. Lesson of recovery-To satisfy their customer company arranges some special service for them. They can handle easily any complain about their product or service they respond quickly and personally help customer to solve their problem & develop a problem resolution system. 6. Lesson of surprising customers-Surprising customers usually has uncommon swiftness, grace, courtesy, competence, commitment and understanding. 7. Lesson of fair play-Companies who provide service for customers they always try to build fairness to customers & employee and they make special effort to be fair. 8. Lesson of teamwork-Service Company delivers their employee motivation to increase their capability and team work is that which helps a company to provide service for their customers with great care & attentiveness. 9. Lesson of employee research-With the help of research with employee company must identify why service problem occurs and they try to find out possible solution of these problem. 10. Lesson of service leadership-If we assured inspired leadership overall the company effective product or service design system properly use of information &technology and slow to change, invisible, all powerful, internal force create then we get quality service from any company.

Recommendations for improving service quality across service industry.

Retailers: Retailers are assumed to be irrelevant to the source of brand value for manufacturers with the result that manufacturer do not target retailers to help them build strong brands. On the other hand retailers may tend to focus on building their own private brands to differentiate themselves from other retail competitors and to increase their power in relation to manufacturer brands. On the other hand retailers also need to create a good image in the consumer marketplace by selling famous manufacturer branded products. In other words, retailers often have to sell famous brands even if they would prefer to sell other brands or their own. Powerful consumer brand not only provides value to the manufacturers and consumers but they also offer many obvious benefits to retailers. These benefits include-

1. Established consumer demand. 2. Favouable consumer attitudes towards the branded product found in their store. 3. A commitment from manufacturer to promote their products. 4. The credibility and image of the brand itself as an enhancement of the retailers own credibility & image.

Brand equity therefore needs to be investigated from the retailers perspective, in order to provide a more complete understanding of the role of branding in marketing strategies. The soft drinks product category was selected for this study due to it being one of the most common type of products sold by the independent retail sector in Bangladesh which would ensure that all participants could easily share their opinions of the value of brands.

Brand equity plays an important role in the retailing content and it is comprised of three dimensions Brand association. Brand trust. Brand loyalty.

Brand association is reflected in the positive image of a brand in the retailers perception related to their needs and wants. This leads to a positive feeling towards that brand which is the trust a retailer holds in a manufacturers brand. As the result of a strong brand retailers commit to a long term business relationship with the brand manufacturer. Two of these three dimensions of retailer based brand equity are positively and significantly related to the brand performance at the retail outlets. Manufacturer support. Advertisement. Sales promotion. Trade promotion.

Elements of retail based brand equity.

1. Branded a whole retailer store, its each and every department, all kinds of service or product. In this purpose create a brand hierarchy. 2. Frequently communication and demonstration enhance manufacturer brand equity. 3. Added value in the product selection, purchasing of delivery and establish brand equity by properly monitoring individual department all classes of product and the whole store. 4. Enhance experience of multichannel shopping. 5. Sometimes we that many retailers over brand their product it should be eliminated because it exaggerates of any product and it will not create a good result. Additional guidelines for retailers

Small Businesses: Early branding of a small or emerging company is the key to business success. It is the quickest way for your company to express what it is and what it can offer. Foe start ups and small business branding can often take a backseat to other considerations such as funding and product development. Most small business owners are confused with the term brand. You may think that only big corporations obsess themselves with branding. That is because even small business can find them with a strong brand name that will surely achieve great things for the company. However small business branding can be as complicated as creating a tagline or perhaps a logo. A small business brand should be about everything that the business has done or is currently doing. Branding Tips for Small Business: Building brand for a small business is a challenge because of their limited resources and budgets. Unlike major brands that often have more resource at their disposal, small business usually dont have the luxury make mistakes and must design and implement marketing programs much more carefully. Here are some tips you can use to grow your brand with your customers.

1. The design of your logo really doesnt matter: Would you choose MSN as your search engine over Goggle because of their logo? No, having a nice professional logo is great, but it very rarely increases sales. Im all for a professional logo, but dont think you need to spend a fortune on it. Its more important to include your logo on every piece of communication. Put it on business cards, letterhead, envelopes, invoices, yellow page ads, building signage, newsletters, etc 2. Have A Professional Website: Its not just good enough to just have a website; you must reflect your brand image. If youre known as a top notch photographer, the last thing you want is a website designed 10 years ago. It doesnt reflect well on you. Everyone, yes everyone, uses the web today to check references. If someone recommends your service, you can almost guarantee that they will go online to look for you. Your website design should be updated at least every two years to stay current. 3. Blogs Are Good: Blogs help your business on multiple levels. First off, valuable content on a consistent basis will make you look like an expert. People are looking for experts, not apprentices. The software that powers blogs has multiple advantages. Its very easy to publish. Its a database driven environment where style is separate from content so you will not need to go back to your web design agency for every little change. And use of tags and sitemaps make basic search engine optimization easy. But the real reason blogs are great is that they enable conversation. Two-way dialog is much more valuable than a company that just dumps messaging and collateral on their customers. 4. Blogs Are Good but Theyre Just One Tool: A blog should not be your sole marketing strategy. You should have a comprehensive multi-touch marketing plan to get your value proposition in front of your target audience. This can take many forms. You can launch a direct mail campaign, email campaign, host a seminar, sponsor a local event, attend a trade show, attend networking events, cold call prospects, win awards, etc There are a thousand different ways for you to be noticed. You have to find the best combination of methods for your strategic goals. Data shows that people need to be exposed to a brand at least seven times before they buy. If you simply do

one touch and stop, youre wasting valuable budget dollars and probably wondering why your efforts are not successful. 5. Prepare A One Page Corporate Overview: This one pager will be vital as a leave behind when you meet a prospect. Use short sentences in short paragraphs people like to read quickly. Also make it very conversational; its not a white paper. Your one page overview should include your value proposition, target audience benefits, previous audience experience and a mini-case study and dont forget your contact information. 6. Participate In Local Business Events: And by participate, I mean be on a committee. Just showing up at events is great, but youre just a face in the crowd. Ask to be on one of the committees. Believe it or not, its as simple as just asking most of time. Groups are looking for volunteer help and its a great way to elevate your status and visibility among the entire organization. 7. Do What You Say Youre Going to Do: I know it may sound like common sense, but one of the primary drivers of brand loyalty is a consistent experience. If you say youre going to have the photographs ready on a set day, be sure they are ready. Nothing leaves a bad taste in someones mouth like missed expectations. Positive experiences lead to good feelings which lead to telling their friends. But dont forget that bad experiences spread much faster and are harder to overcome if you get a chance at all. 8. Stand for Something: People latch on to something they can understand and appreciate. If youre trying to be everything to everybody, chances are youll attract no one. If you think its too controversial to choose a niche, remember the power of being seen as an expert. Experts are not good at everything; theyre awesome at one thing. This allows you to better position yourself and charge more for your services. People seek out experts, not generalists. 9. Realize that youre Not in Control of Your Brand. Thats right; you only set the direction for your brand. Your actual brand image is determined by your audience. You can use these tips to ensure alignment between your desired brand image and

your actual brand image in the minds of your customers. Branding isnt a one shot deal; its an on-going juggling act of marketing, research and conversation. If youre not tapping into those conversations with your audience, how do you know what their real impression of you is? How will you know how to address it? Brand growth comes from alignment. You have to ensure that your actions, stationary, website and marketing efforts put out the right image. But you cannot stop there; those are presales activities that get you noticed and hopefully bought. You also have to ensure that all actions and engagements during the sale and post-sale are positive and in line with your desired brand image. If your audience has a different view of you than youd like, then you need help. And its probably best to bring in an outside perspective. 10. Bonus Tip #10: Branding is as much about your people as anything else. Never forget that the best interactions come from one-on-one conversations between executives, employees, suppliers, and customers. Employees that want to help and do the best job possible go a long way. Proper branding is critical to your long term success. A lot of people think of branding as logo development. But in reality, branding is managing the thoughts and feelings of your customers to ensure that you are what they desire. If your desired brand image isnt whats in the minds of your target audience, youve got to figure out where the gaps are and how to address them. And fixing those issues is hard work because the old adage still rings true the customers. Suggestions to fix these are: 1. Dont Sell Yourself Short: A new business should never undervalue the services it provides. Being small doesnt mean the quality of service you will providing is inferior, in fact in many cases small businesses are able to offer a better service. It is also important to make sure your staff is totally aware of the value of the services you provide so that they are able to sell your services in the best possible way. 2. Dont Try to Compete on Price: It is sometimes tempting for a new business to offer lower prices as a way to attract new business. This can be a big mistake. Many customers will be savvy enough to realize that paying a bit for your superior product

will save them money in the long run. In addition the price of a product or service puts a perception in the potential customers mind and for many people cheap equates to inferior. 3. Concentrate on Customer Service: concentrating on providing a friendly customer service will set you apart from many of your competitors. The disadvantage for many people of using a big company is the lack of a personal touch. This is where smaller companies can exploit opportunities to build a strong reputation for themselves. 4. Employ The Right People: Whilst the early days of a brand new business will involve a lot of your own hard work, there will come a point when you need to rely on other people. A good strategy in the early days is to employ the best staff that you can afford and try your best keep them motivated. Better staff will be better equipped to drive your new business forward. 5. Be Flexible: Larger companies tend to be slower to react than smaller companies as there is often a long chain of command in larger organizations and your small business can use this to their advantage. By reacting to changing circumstances more quickly you can steal customers from your larger competitors by changing the business model to react to your customers changing needs. 6. Go against the Grain: Thinking outside the box and challenging the norm can get your business noticed and challenge your competitors as well as yourself. Just because most companies do something a certain way doesnt mean it is the right way. A great example of this is Easy jet and their approach to airline ticket pricing which turned the entire industry on its head. 7. Simplify Your Website: Many lager companies have huge over-complicated websites which can be off putting for many potential customers. This is another opportunity for you to get one over your larger competitors by developing a website which is uncomplicated and easy to navigate. It will also provide your business with a great marketing and promotion tool.

8. Act on Good Ideas: The difference between big brands and smaller companies is that larger companies are often more able to make good ideas happen. Big companies do not have a monopoly on good ideas however. With a bit of hard work and persistence, you can make turn your ideas into a reality too.

1. A small business can be started at a very low cost and on a part time basis. 2. It is also well suited to internal marketing. 3. Easier to respond to the market place quickly. 4. Independence is another advantage. 5. Small business owner have the satisfaction of making the own decisions within the constraints imposed by economic &other environmental factor.

Advantages of small business

1. Frequent cause undercapitalization.

of

bankruptcy

is

2. There is often a result of poor planning rather than economic condition.

Disadvantage of small business

1. At first build strong Brands. 2. Carefully monitoring marketing activities for many other organizations. 3. If any company builds strong brand awareness or brand image then sign, symbol, logo should be integrated. 4. To enhance demand and capture attention consumer should involve pull campaign and push campaign to design creative brand. 5. Leverage as many secondary associations as possible. Additional guideline for small business

Online: Online there is rarely such a separation but most companies still havent realized this. On the internet the touchy freely brand experience immediately connects with the website. A great online advertising campaign can crush a brand extremely quickly if the site doesnt deliver on the perception portrayed by the advertising campaign. Advertising & public relations are the best tools for online brand positioning & internet brand management online brand management creating an online brand identity & getting that internet brand identity into the minds of customers require online brand positioning & online brand management. Online branding decides the perception of targeted audience towards your economic store. There are some key strategies to build your brand online: 1. Understanding the value. 2. Research your audience. 3. Give your brand a voice. 4. Balance your online media mix. 5. Plan your social media integration.

6. Build up your reputation online. 7. be true to your brand. 8. be relevant & engaging. 9. Provide branded interactive value. 10. Add brand relevant sponsored content to your web. 11. Use the real world to enhance your onsite brand.

1. When we build our brand then we should consider some basic element of brand. 2. Each & every brand should have strong brand identity. 3. Consumer pull should be generated. 4. If we cant choose brand partnership then brand will not succeed. 5. Enhance relationship marketing as long as possible. Additional guidelines for online branding.

With the increasing internet penetration & increase in the number of citizens Online branding is playing a very important role. Earlier when the web has not evolved much, scope of online branding was limited. Now with Web 2.0, online branding for any product has the potential to make or mar the brand. Many new products which are launched generate a lot of buzz like Apple phone, Hollywood movies, Games & others. Online Branding can be created with Promotions: Special web only promotions can be conducted. Offline ads can be used to direct users to the website for promotions. This helps in word of mouth marketing (Viral marketing). Examples include Beverage companies like Pepsi, Coke & others. They do web promotions & points can be gained with this.

Videos: With the YouTube generation, videos can create a brand overnight. Videos which spark an interest can go very well with the users. Videos of Lonely girl, Miss South Carolina were a big hot on the net.

Photos: Photos of the products can be branded & uploaded in sites like Flicker, Photo bucket & others.

Blogs: This is a very important tool for online branding. This provides a way for the customers to communicate with the company. The CEO, VP & others can also blog in the website. This will help develop a rapport with the customers. Sun Microsystems has its own blog.

Forums: Participating in the product or service related forums helps gain rapport with the users of the group. One infamous example for this is the head of a food company in the US who participated in the forums & wrote to influence the share price of the companies.

Web 2.0: Sites like Dig, Reedit & others send a huge amount of traffic & branding. However, it is difficult to promote commercial products in these sites. May be Press Release, Product or service info & others can be dug for branding. Top companies like IBM, Apple often get to the top page of these sites.

Other web 2.0 Tools: There are other Web 2.0 tools like micro logging, twitter, mapping, mobile based tools, Go ogle earth & others which can be used for branding. For ex: KFC's logo in US can be easily seen in Goggle earth & this is giving rise to Sky add optimization.

Website: Website itself can be used for branding. Proper design of the website with good search engine optimization & PPC can help in branding. Examples include AT & T.

RSS & Pod Cast: Regular Pod casting can help company build a good brand value. RSS can also help companies to connect with the users easily. Companies do pod casting with the customers, heads of the depts. & others & the same can be located. This helps build a good rapport with the customers.

Future Brand Priorities: Building Brand Equity: The importance of branding will continue to value the functions brands provide. In as more and more complex world, well managed brand can simplicity, communicate, resource and provide important meaning to consumers 1. Brand Elements: Brand elements will increase use verbal and visual elements that creatively and dramatically help to build brand equity. Meaningful brands with creative potential will benefit from all senses. Motive studies have always been able to take advantage of their cinematic exposure to use sight, sound and motion to present their brands. Example: the advertisement of Dutch-Bangla bank Ltd. Important Brand elements for any Bangladeshi organization: 1. Brand position 2. Brand promise 3. Brand personality 4. Brand study 5. Brand association 2. Marketing Programs: Marketing program for Bangladeshi Brands: Marketing program should be done in a way that able to fulfill and surpass consumer expectation. Marketing program will obviously rei9nforce consumer through product pricing, distribution and communications strategies that creatively remind consumers of what the brand has to offer. Example: Advertisement of Banglalion, Dutch Bangla Bank.

Through marketing program consumers will have a clear picture of what the brand represents and why it is special. Example: Advertisement purbachal city, concord. In some cases, in Bangladesh, marketers will engage in dialogue with customers, listening to their product joys and frustrations and establishing a report and relationship that will result more commercial exchange. Example: DJUICE, Unilever (Fair & lovely) Measuring Brand Equity: Marketers of successful 21st century brands will create formalized measurement approaches that ensure they continually monitor their sources of brand equity and those of competitors. They will develop a greater understanding of how different marketing action affect their sources and outcomes of brand equity and go beyond piece-meal research projects (like periodic advertising campaign evaluations) to devise new and original ways to obtain accurate, comprehensive, and up-to-date information about the status of their brands. By maintaining close contract with the brand, managers will be better able to understand just what makes their brand trick. With greater accountability in marketing activities and programs, managers will better use their brand investments, putting money behind the right brands at the right time and in the right ways. Managing Brand Equity in Bangladesh: It is necessary for any Bangladeshi brand to build strong brand equity to align internal and external brand management. Firm must put the right structures, process, incentives and resources into place. Internal brand management External brand management Top- down brand management

Internal Building brand equity in Bangladesh

External

Top-down

Figure: requirement for building brand equity.

Achieving Marketing Balance in Bangladesh: In order to achieve marketing balance in Bangladesh, there are lots of things need to be done. Any existing or emerging brands must have to perform the strategic, financial, tactical, and organizational performance well in balance.

Strategies

Tactical

Pre Determinants of Achieving MKT Balance

Organization

Financial

Figure: Process of balancing organizational performance

There are 3 ways of achieving MKT balance: 1. Alternative: Every brand should identify and recognize the various alternatives and should attempt the best one. 2. Divide: It is essential for any brand to divide the market into proper segment and makes the best use of strategic, financial, tactical and organizational activities. Example: Grameen phone 3. Finesse: reconcile the decision tradeoffs, finesse the difference, achieve synergy between the 2 dimensions.

Customer-Based Brand Equity Pyramid:

Customer-Based Brand Equity Pyramid

4. RELATIONSHIPS =
RESONANCE What about you and me?

3. RESPONSE =
JUDGMENTS FEELINGS What about you?

2. MEANING = PERFORMANCE IMAGERY

What are you?

1. IDENTITY =

SALIENCE

Who are you?

Figure: This figure is developed by Rafiuddin Ahmed (Assistant professor, department of Marketing, Dhaka University)

Review:

Discussions Questions: How Arong creating brand awareness to their customer? In telecommunication sector how brand outcome helps to increase brand awareness? Suppose you want to develop an IT firm in Bangladesh. Now what do you think which criteria makes your brand in one of the top position in IT sector in Bangladesh? Do you think top down is one of the important steps to building brand equity? Why or why not? Give example in the Bangladeshi perspective.

Suppose you are going to launch some new product for your customers then which type of product will consider most? Do you mostly emphasis just physical good?

Biman Bangladesh Airlines added some new service with their existing service then which rules they should maintain? To improve their service quality which dimensions they should follow? What are your comments for improving their service quality?

What factors make a strong brand? Is there any other criterion to make a brand strong other than the given list?

What are the failures that are usually seen in Bangladesh while conducting brand management? What are the reasons behind them?

Nokia, a well known brand of mobile handset. Think of the applications of brand management. How the 5 guidelines work in the perspective of Bangladeshi mobile handset market?

Is there any more possible brand management guidelines, applications, or frameworks that you think might appear in the future? How will the influence of it be?

Brand Focus: The Brand Report Card: