Branding is as important for culture and politics as it once was for market commodities. But what is it that makes brands and branding powerful? What explains the global diffusion of branding techniques? Or at an even more fundamental level, what is a brand? How do we go about building a brand? How do we go about managing a brand that already exists? What are the challenges that managers, marketing firms and consumers face when interacting with brands? How do different stakeholders created and maintain brands in dynamic environments? These are some of the questions that this course will attempt to answer. In this course, we will examine multiple theoretical perspectives on ‘brand’ and will understand how each theoretical approach involves a different brand management toolkit. We will approach branding from multiple perspectives – from rational branding to emotional branding to cultural branding.
To complement the theoretical foundations, we will discuss real life strategic challenges that brand and their managers face and learn from the success and failure of particular brand strategies. We will also understand how brands and brand management have evolved in the 21st century and what are the key ethical, environmental and socio-cultural implications of brand management’s evolutionary trajectory. We will explore concepts such as unique selling proposition (USP), mindspace positioning, cultural brand strategy and performance metrics such as brand equity, brand love, share of voice.
Upon completion of the course, students should be able to • Apply appropriate branding theories and toolkits to solve practical case studies • Critically evaluate different approaches to measure brand performance • Align epistemological assumptions with appropriate approach • Exhibit fluency with the building blocks of branding strategies • Identify appropriate segmentation strategieson appropriate bases, define targets and relevant brand positioning techniques • Understand the evolutionary trajectory of consumer brand management