MKT 382_Strategic Brand Management_Kennedy
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  • 1. STRATEGIC BRAND MANAGEMENT SPRING 2008 Professor Heather Kennedy Office GSB 4.126K Office Hours On request Phone 512.658,5629 E-Mail Heather.Kennedy@mccombs.utexas.edu Course Web Page TBD Teaching Assistants Stephen Walls Stephen.Walls@mccombs.utexas.edu Course Objectives The most valuable asset many firms have is their brand. In our global economy, production and distribution can be replicated. But the emotion and attitudes shoppers have about their brands cannot. Therefore many companies recognize that the investment they make in the creation and communication of their brand will become a strategic differentiator in the future. This class will focus on how to establish and grow brand equity, how to measure brand equity and how to utilize this equity to create more profit and growth for your company. Leadership and this Course The Texas MBA program is designed to develop influential business leaders. The MBA Program has identified four fundamental and broad pillars of leadership: knowledge and understanding, communication and collaboration, responsibility and integrity, and a worldview of business and society. In this class you will understand the importance of brands and learn how to strategically develop and grow these valuable assets. The philosophy of brand management is based on working with and leading teams. You will enhance your collaboration skills through a team projects. Integrity in brand management is critical and my hope is you will leave this course knowing the importance of understanding what your customer wants and providing that honestly within the context of your brand. Marketing should not be manipulative, but rather a way to communicate the value and benefits of your company and/or products. Finally, we live in a global society and you will learn techniques on how to manage brands across cultures. My Teaching Philosophy I want to provide you with a theoretical base of brand management and, most importantly, real world examples and tools that will serve you well as you start your careers. I promise to share with you what I’ve learned in my career thus far. In return, I expect you to come to class prepared, ask questions and participate, and be respectful of your fellow students. I hope you leave this class feeling that you have knowledge and tools that will serve you well as a brand manager, a marketer, a consultant or an entrepreneur.
  • 2. Faculty name Course—Semester and Year page 2 Class Participation This is a strategic marketing class that will require a high level of participation to be successful. With that said, I do not feel the need to establish participation requirements. I assume that your presence and investment in McCombs means you will come to class prepared and share your thoughts and beliefs on brand management with the class. You will learn much more from Stephen, myself and your fellow students if you actively engage in the class. Be forewarned….if the conversation starts to lag, I will cold call! This is not an attempt to embarrass you, but rather an opportunity to prepare you to speak on the spot about a variety of topics, which you will no doubt have to do in your next job. Materials • Kevin Lane Keller, Strategic Brand Management, Third Edition • Articles and cases provided in class or via Blackboard Course Requirements 1. Brand Case Discussions Goal: Develop analysis skills, encourage preparation and critical thinking for class discussions, and provide opportunities to speak in public about your thoughts and opinions. Because managing a brand is more art than science, we will use case studies to explore examples of brand management in action. While many of our case studies could cover a very broad range of branding and marketing topics, we will try to keep our scope more limited to the topics we are covering closely before and after the case study. At the beginning of the semester, you all will be placed on teams based on your interests and background. Each team will choose a brand for which they will prepare a case study for class discussion. Responsibilities for the presenting team include:  Researching and identifying at least 5 articles that discuss your brand, industry, and its issues (you’ll turn these articles in with your presentation and cite them within your presentation) - we’ll discuss some good places to look for interesting articles  Selecting and distributing (by 5pm on Friday before the case is discussed) an article/reading or two for your classmates to read in preparation for the discussion (10-20 pages of reading).  Proposing a question for the rest of the class to consider and  Developing a presentation to use in leading a class discussion on the case that focuses on the recommendations that you all have developed as well as any other questions you think the class should consider - focus on teaching rather than presenting!
  • 3. Faculty name Course—Semester and Year page 3  Leading the class discussion, attempting to draw out the ways in which we can learn from this case study Presentations should be structured as follows: 1. Executive Summary: BRIEF (the key word here is “brief) summary of the industry, the company and the issue that you are addressing. 2. Recommendations: Recommendations should be focused on the topic that your group is assigned to consider. 3. Synthesis of the class concepts. Discussion and analysis should be based on the concepts or models that we have been using in class and, in particular, those that are focused on the topic that your group is assigned to consider. Certainly, you can present ways in which your case study is contradictory to the models that we’ve been discussing. 4. Class discussion. You should attempt to motivate discussion in each part of your presentation, but, at the very least, we will take an opportunity at this point to open up the conversation for critical thinking and discussion. 5. Other interesting considerations and questions. Take an opportunity to present other interesting aspects of this case study for us to discuss more broadly. Responsibilities for all other students include:  Reading the assigned article(s) and being prepared for participating in the case discussion  Writing a one-page response (single-spaced) to the question I will pose for the topic and brand. Additionally, you may also consider the following questions - What did you learn from the case? What other questions/factors would have been interesting to consider? Do you connect it to any other brands? Are there any other analysis approaches that would be especially interesting for this brand?  Providing feedback to the presenting team Due Dates: See Course Schedule for Brand Case Discussion Dates Exams Goal: Display mastery use of brand analysis techniques for exploring and articulating the basic sources of equity for a given brand and provide recommendations for improvement of their position. There will be two exams that will be based on our case studies, text, and class discussions. The test will consist of short essay questions and you will generally be given a week to
  • 4. Faculty name Course—Semester and Year page 4 complete them. You will be expected to have read all of the material assigned, both by me and the student groups presenting cases. You may also decide to conduct some research on your own. Questions will be created to make sure you have an understanding of the brand’s equity based on brand principles we discuss. You should also be forming thoughts about the health of the brand today (including sub-brands), the best way for them to increase brand equity in the future, and, ultimately, how the brand (and sub-brands) can be leveraged and managed to make the company more successful. Be aware that all of your answers must be your own, although you are certainly allowed to discuss the exams with other classmates. Exam Due Dates: March 21st & May 9th Brand Thyself™ Goal: Practice using brand building concepts using a brand that you know well (or should get to know better). Since 6th century B.C., “know thyself” has been a rallying cry of philosophers, psychologists, and brand instructors. In that spirit, you get the opportunity to develop yourself as a brand. Your task is to develop a branding proposal of you. While your presentation can be in any format you choose – PowerPoint slides, presentation “storyboards”, printed, electronic, etc. – it should include the following, at a minimum.  target audience (potential partners, friends, employers - all or any of those)  core brand values  brand mantra  brand association (mental) map  brand building pyramid  brand position map (current and future, if different) & positioning statement  secondary associations / co-branding entities  at least one brand element: brand name, logo, slogan, jingle, or character  optional extras that you can consider include: other brand elements, future directions for your brand, and anything else that would add to your brand. You should also add any notes to the presentation that help me understand it better. Because you will not be there to present it to me directly, these notes will help further articulate your
  • 5. Faculty name Course—Semester and Year page 5 ideas. Grading for this assignment will be based on meeting the requirements above with an appropriate amount of effort, detail, creativity, and use of class concepts. To help you stay on top of this, you’ll need to keep a Brand Thyself Journal. I suggest that you keep it electronically, but you can choose any format that works best for you. On the class session after each of the topics listed above, you’ll need to turn in an update of your journal that includes a first attempt at applying that concept to your own brand. You can certainly change any of this before you turn in your final project, but I will be checking to make sure you’ve made some attempt. For each update missed, a point will be deducted from your final score on this project. Due Date: April 4th Grading In grading, I will always be looking for effort, thought process, strategic thinking, connection of class and business school concepts and problem solving skills. For all of the assignments above, I’ve given you the minimum expected criteria. If you meet the expectations of those criteria, you can expect a grade in the B to B+ range. Only as you exceed expectations will I award scores in the A range. Be aware that in determining the final grade, I do not round up. That is, if you receive anything lower than a 90.0, your grade will fall in the B grade range. Per McCombs MBA guidelines, we will be using the +/- grading system in this class as follows: A: 93.0 - 100 B+: 87.0 - 89.9 C+: 77.0 - 77.9 D+: 67.0 – 69.9 F: below 60.0 B: 83.0 - 86.9 C: 73.0 - 76.9 D: 63.0 - 66.9 A-: 90.0 - 92.9 B-: 80.0 - 82.9 C-: 70.0 – 72.9 D-: 60.0 – 62.9 I am happy to discuss grade concerns, but I have a few guidelines.  All discussions about grades must be in person. I will not discuss grades over email or by phone.  In setting up an appointment, I ask that you wait 3 days after you receive the grade but no more than 14 days. I want to be sure you have time to consider the grade in a rational context, but I do expect you to address your concerns soon after the grade is returned.  I am rarely open to discussing grades after you have received your final grade, unless there is a calculation error. I would prefer that you address grade concerns by assignment, not just because you were expecting or hoping for a higher final grade.
  • 6. Faculty name Course—Semester and Year page 6 Maximum Points for Each Assignment  Brand Case Presentation – 20 points  Brand Case Written Responses – 3 points each; 21 points total  Exam 1 – 20 points  Brand Thyself – 14 points  Exam 2 – 25 points McCombs Classroom Professionalism Policy The highest professional standards are expected of all members of the McCombs community. The collective class reputation and the value of the Texas MBA experience hinges on this. Faculty are expected to be professional and prepared to deliver value for each and every class session. Students are expected to be professional in all respects. The Texas MBA classroom experience is enhanced when: • Students arrive on time. On time arrival ensures that classes are able to start and finish at the scheduled time. On time arrival shows respect for both fellow students and faculty and it enhances learning by reducing avoidable distractions. • Students display their name cards. This permits fellow students and faculty to learn names, enhancing opportunities for community building and evaluation of in-class contributions. • Students are fully prepared for each class. Much of the learning in the Texas MBA program takes place during classroom discussions. When students are not prepared they cannot contribute to the overall learning process. This affects not only the individual, but their peers who count on them, as well. • Students respect the views and opinions of their colleagues. Disagreement and debate are encouraged. Intolerance for the views of others is unacceptable. • Laptops are closed and put away. Suffice it to say…no laptops in my class. • Phones and wireless devices are turned off. Try to remember to turn off your cell phone. And please do not text during class. I appreciate that you all have a personal life, but you really don’t need to nurture it at 8:00 in the morning. Academic Dishonesty I have no tolerance for acts of academic dishonesty. Such acts damage the reputation of the school and the degree and demean the honest efforts of the majority of students. The minimum penalty for an act of academic dishonesty will be a zero for that assignment or exam. The responsibilities for both students and faculty with regard to the Honor System are described on http://mba.mccombs.utexas.edu/students/academics/honor/index.asp and on the final pages of this syllabus. As the instructor for this course, I agree to observe all the faculty
  • 7. Faculty name Course—Semester and Year page 7 responsibilities described therein. During Orientation, you signed the Honor Code Pledge. In doing so, you agreed to observe all of the student responsibilities of the Honor Code. If the application of the Honor System to this class and its assignments is unclear in any way, it is your responsibility to ask me for clarification. As specific guidance for this course, you should consider the writing of all examinations to be an individual effort. Group preparation for examinations is acceptable and encouraged. Homework assignments are to be turned in individually but I encourage you to work together in answering the questions. You should, however, develop your own answer and not cut and paste the work of others. Students with Disabilities Upon request, the University of Texas at Austin provides appropriate academic accommodations for qualified students with disabilities. Services for Students with Disabilities (SSD) is housed in the Office of the Dean of Students, located on the fourth floor of the Student Services Building. Information on how to register, downloadable forms, including guidelines for documentation, accommodation request letters, and releases of information are available online at http://deanofstudents.utexas.edu/ssd/index.php. Please do not hesitate to contact SSD at (512) 471-6259, VP: (512) 232-2937 or via e-mail if you have any questions. Honor Code Purpose Academic honor, trust and integrity are fundamental to The University of Texas at Austin McCombs School of Business community. They contribute directly to the quality of your education and reach far beyond the campus to your overall standing within the business community. The University of Texas at Austin McCombs School of Business Honor System promotes academic honor, trust and integrity throughout the Graduate School of Business. The Honor System relies upon The University of Texas Student Standards of Conduct (Chapter 11 of the Institutional Rules on Student Service and Activities) for enforcement, but promotes ideals that are higher than merely enforceable standards. Every student is responsible for understanding and abiding by the provisions of the Honor System and the University of Texas Student Standards of Conduct. The University expects all students to obey the law, show respect for other members of the university community, perform contractual obligations, maintain absolute integrity and the highest standard of individual honor in scholastic work, and observe the highest standards of conduct. Ignorance of the Honor System or The University of Texas Student Standards of Conduct is not an acceptable excuse for violations under any circumstances. The effectiveness of the Honor System results solely from the wholehearted and uncompromising support of each member of the Graduate School of Business community. Each member must abide by the Honor System and must be intolerant of any violations. The system is only as effective as you make it. Faculty Involvement in the Honor System The University of Texas at Austin McCombs School of Business Faculty's commitment to the Honor System is critical to its success. It is imperative that faculty make their expectations clear to all students. They must also respond to accusations of cheating or other misconduct by students in a timely, discrete and fair manner. We urge faculty members to promote awareness of the importance of integrity through in-class discussions and assignments throughout the semester.
  • 8. Faculty name Course—Semester and Year page 8 Expectations Under the Honor System Standards If a student is uncertain about the standards of conduct in a particular setting, he or she should ask the relevant faculty member for clarification to ensure his or her conduct falls within the expected scope of honor, trust and integrity as promoted by the Honor System. This applies to all tests, papers and group and individual work. Questions about appropriate behavior during the job search should be addressed to a professional member of the Career Services Office. Below are some of the specific examples of violations of the Honor System. Lying Lying is any deliberate attempt to deceive another by stating an untruth, or by any direct form of communication to include the telling of a partial truth. Lying includes the use or omission of any information with the intent to deceive or mislead. Examples of lying include, but are not limited to, providing a false excuse for why a test was missed or presenting false information to a recruiter. Stealing Stealing is wrongfully taking, obtaining, withholding, defacing or destroying any person's money, personal property, article or service, under any circumstances. Examples of stealing include, but are not limited to, removing course material from the library or hiding it from others, removing material from another person's mail folder, securing for one's self unattended items such as calculators, books, book bags or other personal property. Another form of stealing is the duplication of copyrighted material beyond the reasonable bounds of "fair use." Defacing (e.g., "marking up" or highlighting) library books is also considered stealing, because, through a willful act, the value of another's property is decreased. (See the appendix for a detailed explanation of "fair use.") Cheating Cheating is wrongfully and unfairly acting out of self-interest for personal gain by seeking or accepting an unauthorized advantage over one's peers. Examples include, but are not limited to, obtaining questions or answers to tests or quizzes, and getting assistance on case write- ups or other projects beyond what is authorized by the assigning instructor. It is also cheating to accept the benefit(s) of another person's theft(s) even if not actively sought. For instance, if one continues to be attentive to an overhead conversation about a test or case write-up even if initial exposure to such information was accidental and beyond the control of the student in question, one is also cheating. If a student overhears a conversation or any information that any faculty member might reasonably wish to withhold from the student, the student should inform the faculty member(s) of the information and circumstance under which it was overheard. Actions Required for Responding to Suspected and Known Violations As stated, everyone must abide by the Honor System and be intolerant of violations. If you suspect a violation has occurred, you should first speak to the suspected violator in an attempt to determine if an infraction has taken place. If, after doing so, you still believe that a violation has occurred, you must tell the suspected violator that he or she must report himself or herself to the course professor or Associate Dean of the Graduate School of Business. If the individual fails to report himself or herself within 48 hours, it then becomes your obligation to report the infraction to the course professor or the Associate Dean of the Graduate School of
  • 9. Faculty name Course—Semester and Year page 9 Business. Remember that although you are not required by regulation to take any action, our Honor System is only as effective as you make it. If you remain silent when you suspect or know of a violation, you are approving of such dishonorable conduct as the community standard. You are thereby precipitating a repetition of such violations. The Honor Pledge The University of Texas at Austin McCombs School of Business requires each enrolled student to adopt the Honor System. The Honor Pledge best describes the conduct promoted by the Honor System. It is as follows: "I affirm that I belong to the honorable community of The University of Texas at Austin Graduate School of Business. I will not lie, cheat or steal, nor will I tolerate those who do." "I pledge my full support to the Honor System. I agree to be bound at all times by the Honor System and understand that any violation may result in my dismissal from the Graduate School of Business."