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Brand strategy
 

Brand strategy

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    Brand strategy Brand strategy Presentation Transcript

    • 1visit: www.studyMarketing.orgBrand StrategyBrand Strategy
    • 2visit: www.studyMarketing.orgYou can download this presentation at:www.studyMarketing.orgVisit www.studyMarketing.org for morepresentations on Marketing, Strategy,Innovation, and Branding
    • 3visit: www.studyMarketing.orgBrand StrategyBrand StrategyDeveloping Brand VisionEstablishing Brand PositionFulfilling Brand ContractCommunicating Brand PositionMeasuring RoBI
    • 4visit: www.studyMarketing.orgBrand VisionBrand VisionA clear articulation of the strategic,financial, and brand goals thatmanagement has created for the brandA first step to strategic screens as towhere the brand can and cannot go
    • 5visit: www.studyMarketing.orgBrand VisionBrand VisionProvides a vision that forcesmanagement to articulate what theywant the brand to "do" for theorganization over the next five years,relative to brand value, revenue, andprofit contributions
    • 6visit: www.studyMarketing.orgA brands positioning isA brands positioning isthe place in consumersminds that you want yourbrand to own—the benefit youwant them to think of whenthey think of your brand.
    • 7visit: www.studyMarketing.orgA strong brand position means the brandhas a unique, credible, sustainable, andvalued place in customers minds.Good positioning gives you the directionrequired to focus the organization and focusyour strategic efforts.
    • 8visit: www.studyMarketing.orgA good positioning is a single idea to becommunicated to your customers.It revolves around a benefit that helpsyour product or service stand apart fromthe competition.
    • 9visit: www.studyMarketing.orgDisneyWal – MartFedexMcDonaldsAppleGoogleToyotaFamily Fun EntertainmentLow Prices and Good ValuesGuaranteed Overnight DeliveryFood and FunInnovationSimplicityReliability
    • 10visit: www.studyMarketing.orgA well-crafted brand positioning has threeprimary components:• A definition of the target market you wish to pursue• A definition of the business your company is in orthe industry or category it competes in• A statement of your point of difference and keybenefits
    • 11visit: www.studyMarketing.orgThe Five Principles ofThe Five Principles ofEffective PositioningEffective PositioningFit :Fit : Seek to leverage strengths ofexisting brand positionValue :Value : Focus on the perceived benefitsthat customers value, as determined bythe customer modelUniquenessUniqueness : Go where thecompetitors are not.
    • 12visit: www.studyMarketing.orgThe Five Principles ofThe Five Principles ofEffective PositioningEffective PositioningSustainabilitySustainability : Maximize the length oftime this positioning can be ownedwithin the competitive setCredibilityCredibility : Get a credible fit betweenwho you are and the supplier predicatedby the customer model.
    • 13visit: www.studyMarketing.orgA Brand Contract isA Brand Contract isa list of all promises the brandmakes to customers. Such acontract is executed internally,but it is defined and validatedexternally by the marketplace.
    • 14visit: www.studyMarketing.orgBrand Contracts canand should changeover time. Newpromises can beadded, other promisescan be updated, andirrelevant promises canbe deleted.
    • 15visit: www.studyMarketing.orgA Brand ContractA Brand Contract is a critical piece of thebrand position because it helps to furtherdefine marketplace perceptions andexpectations and forces managers to behonest with themselves.
    • 16visit: www.studyMarketing.orgIn addition to positive promises to customers, aBrand ContractBrand Contract can contain negative promisesor attributes. It is important to build on the strongbrand promises and mitigate the negative ones.
    • 17visit: www.studyMarketing.orgStarbucks Implicit Brand ContractStarbucks Implicit Brand Contract• Provide the highest quality coffee available on the market today• Offer customers a wide variety of coffee options as well as com­plementary food and beverage items• Have an atmosphere that is warm, friendly, homelike, andappropriate for having a conversation with a good friend orreading a book• Recognize that visiting Starbucks is as much about theexperience of drinking coffee as it is about the coffee itself
    • 18visit: www.studyMarketing.orgSuccessful Brand-BasedSuccessful Brand-BasedCommunicationsCommunications• Use all communication strategies to helpachieve your corporate strategy and brandvision.• Let your brand positioning largely determinethe right communications strategy to execute.• Use an integrated marketing communicationsstrategy to get maximum return from all dollarinvestments.
    • 19visit: www.studyMarketing.orgSome Metrics to Measure Return on BrandSome Metrics to Measure Return on BrandInvestment:Investment:• Brand name knowledge, awareness,Brand name knowledge, awareness,recognition, recallrecognition, recall: measures strength of thebrand as reflected by customers ability toidentify the brand under varying conditions• Contract fulfillmentContract fulfillment: measures the degree towhich your brand is upholding its BrandContract
    • 20visit: www.studyMarketing.orgSome Metrics to Measure Return on BrandSome Metrics to Measure Return on BrandInvestment:Investment:• Acquired customersAcquired customers: counts customersclaiming they have come to your company basedon the strength of the brand• Customer loyaltyCustomer loyalty: measures the degree towhich customers continue to purchase yourbrand and how long that loyalty has lasted
    • 21visit: www.studyMarketing.org• Financial valueFinancial value: reports the financial value ofyour brand in the marketplace• Price premiumPrice premium: finds the percentage of pricepremium your brand is able to command overprivate-label brands, as well as key competitorbrandsSome Metrics to Measure Return on BrandSome Metrics to Measure Return on BrandInvestment:Investment:
    • 22visit: www.studyMarketing.orgSource of Reference:Scott M. Davis, Brand Asset Management, JosseyBass.