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TBF 2011- Tim Calkins: "Branding Challenges: 2011"
 

TBF 2011- Tim Calkins: "Branding Challenges: 2011"

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Branding is increasingly important in today's world, especially in tourism. Building a strong brand has always been a challenge but the changing world of communication is making it even more ...

Branding is increasingly important in today's world, especially in tourism. Building a strong brand has always been a challenge but the changing world of communication is making it even more difficult. This session will highlight why brands matter more than ever and the emerging challenges confronting people responsible for brands, and then provide recommendations for capitalizing on the power of brands.

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    TBF 2011- Tim Calkins: "Branding Challenges: 2011" TBF 2011- Tim Calkins: "Branding Challenges: 2011" Presentation Transcript

    • Branding Challenges 2011 Copyright © 2011 by Tim Calkins May 5, 2011 Tim Calkins Clinical Professor of Marketing Kellogg School of Management
    • It has been quite a week for branding Branding Challenges 2011
    • It has been quite a week for branding Branding Challenges 2011
    • Objective Branding Challenges 2011 Identify and help you overcome 2011 branding challenges
    • Agenda
      • The Power of Brands
      • Branding Challenges
      • Building Strong Brands
      Branding Challenges 2011
    • Brands are associations Branding Challenges 2011 Kellogg School of Management Definition A brand is the psycho-cultural associations linked to a name, mark or symbol associated with a product or service.
    • Brands are associations Branding Challenges 2011
    • Brands are associations Branding Challenges 2011
    • Brands are associations Branding Challenges 2011
    • Brands are associations Branding Challenges 2011
    • Brands are associations Branding Challenges 2011
    • Three questions Branding Challenges 2011 1. Can anything be a brand? 2. Are brands always a positive? 3. Are brands becoming more important or less important?
    • Brands are much like reputations Branding Challenges 2011 Brands = Reputations
    • Brands shape customer perceptions
      • Brand
      • Product or Service Customer
      • Specifications Perceptions
      Branding Challenges 2011
    • Learning from earrings Branding Challenges 2011 Ladies diamond ear-rings. Good quality. Two small diamonds (0.3 carats each).
    • Learning from earrings Branding Challenges 2011 Ladies diamond ear-rings. Good quality. Two small diamonds (0.3 carats each). From Tiffany. T IFFANY  & C O .
    • Learning from earrings Branding Challenges 2011 Ladies diamond ear-rings. Good quality. Two small diamonds (0.3 carats each). From Wal-Mart.
    • The power of branding Branding Challenges 2011
    • The most valuable brands create customer advantage
      • Customer advantage is critical if a company wants to avoid commoditization
      • Customer Advantage
      • Customers value the benefit you provide, are willing to pay for it and see you as best at providing it.
      • One source of customer advantage is a strong brand. Building customer advantage is how brands add the greatest value
      Branding Challenges 2011
    • Agenda
      • The Power of Brands
      • Branding Challenges
      • Building Strong Brands
      Branding Challenges 2011
    • There are three core branding challenges
      • Challenges of Branding
      • 1. Short-term financial constraints Cash
      • 2. Media saturation Clutter
      • 3. Alignment Consistency
      • Based on qualitative study including input from over three dozen branding professionals. Includes both company and agency contacts. Spans industries including CPG, financial services, technology, retailing, professional services, healthcare, B to B.
      Branding Challenges 2011
    • Challenge 1: Cash
      • Observations from Marketing Executives
      • “ The biggest challenge is securing and maintaining management support, in terms of both budget and policy.”
      • “ A quarterly mindset is very difficult for building your brand.”
      • “ Getting the pointy heads in finance and operations to believe in the value.”
      Branding Challenges 2011
    • A Question
      • Why are financials such a big challenge for branding efforts?
      Branding Challenges 2011
    • Brands can last for centuries Branding Challenges 2011
    • Challenge 2: Clutter
      • Ad messages per day seen by the average consumer
      • 1960 1,500
      • 1990 3,000
      • 2000 5,000
      • Ads seen by average child by age of 16: 6 million
      • Source: A. McKinsey Quarterly B. Forrester Research
      Branding Challenges 2011
    • Consumers are fundamentally skeptical of marketers
      • Ratings of Honesty and Ethical Standards
      • % rating high or very high
      • Pharmacists 64%
      • Clergy 59%
      • Doctors 57%
      • College teachers 53%
      • Policemen 49%
      • Bankers 30%
      • Journalists 22%
      • Business executives 21%
      • Building contractors 19%
      • Congressmen 17%
      • Real estate agents 16%
      • Lawyers 14%
      • Insurance salesmen 11%
      • Advertisers 10%
      • Car salesmen 5% Source: Gallop, 1998
      Branding Challenges 2011
    • Breaking through depends on understanding and focus
      • Understanding the consumer is a critical step
        • Need to be certain that your message resonates with the target group
        • Shouting louder than the next brand doesn’t deliver success
      • Focus is essential
      Branding Challenges 2011
    • Challenge 3: Consistency A Common Belief Brands are created primarily by advertising campaigns Branding Challenges 2011
    • The reality: brands are created by dozens of different touch-points Slogans Logos Advertising Experiences Pricing Word of Mouth Associations The Brand Promotions Partnerships Newspaper Articles Websites Blogs Branding Challenges 2011
    • Creating a brand Branding Challenges 2011
    • Creating a brand Branding Challenges 2011
    •  
    • Agenda
      • The Power of Brands
      • Branding Challenges
      • Building Strong Brands
      Branding Challenges 2011
    • Keys to Success
      • Understand your brand positioning and character
      • Engage
      • Track your progress
      • Move quickly
      Branding Challenges 2011
    • Learning from MSI Branding Challenges 2011
    • Contact Information
      • Tim Calkins
      • Kellogg School of Management
      • [email_address]
      • www.strongbrands.wordpress.com
      • www.timcalkins.com
      Branding Challenges 2011