Brand Strategy
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Brand Strategy

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Brand Strategy Presentation Transcript

  • 1. Brand Strategy
  • 2. You can download this presentation at: www.studyMarketing.org Visit www.studyMarketing.org for more presentations on Marketing, Strategy, Innovation, and Branding
  • 3. Brand Strategy Developing Brand Vision Establishing Brand Position Fulfilling Brand Contract Communicating Brand Position Measuring RoBI
  • 4. Brand Vision A clear articulation of the strategic, financial, and brand goals that management has created for the brand A first step to strategic screens as to where the brand can and cannot go
  • 5. Brand Vision Provides a vision that forces management to articulate what they want the brand to "do" for the organization over the next five years, relative to brand value, revenue, and profit contributions
  • 6. A brand's positioning is the place in consumers' minds that you want your brand to own—the benefit you want them to think of when they think of your brand.
  • 7. A strong brand position means the brand has a unique, credible, sustainable, and valued place in customers' minds. Good positioning gives you the direction required to focus the organization and focus your strategic efforts.
  • 8. A good positioning is a single idea to be communicated to your customers. It revolves around a benefit that helps your product or service stand apart from the competition.
  • 9. Disney Wal – Mart Fedex McDonalds Apple Google Toyota Family Fun Entertainment Low Prices and Good Values Guaranteed Overnight Delivery Food and Fun Innovation Simplicity Reliability
  • 10. A well-crafted brand positioning has three primary components:
    • A definition of the target market you wish to pursue
    • A definition of the business your company is in or the industry or category it competes in
    • A statement of your point of difference and key benefits
  • 11. The Five Principles of Effective Positioning Fit : Seek to leverage strengths of existing brand position Value : Focus on the perceived benefits that customers value, as determined by the customer model Uniqueness : Go where the competitors are not.
  • 12. The Five Principles of Effective Positioning Sustainability : Maximize the length of time this positioning can be owned within the competitive set Credibility : Get a credible fit between who you are and the supplier predicated by the customer model.
  • 13. A Brand Contract is a list of all promises the brand makes to customers. Such a contract is executed internally, but it is defined and validated externally by the marketplace.
  • 14. Brand Contracts can and should change over time. New promises can be added, other promises can be updated, and irrelevant promises can be deleted.
  • 15. A Brand Contract is a critical piece of the brand position because it helps to further define marketplace perceptions and expectations and forces managers to be honest with themselves.
  • 16. In addition to positive promises to customers, a Brand Contract can contain negative promises or attributes. It is important to build on the strong brand promises and mitigate the negative ones.
  • 17. Starbucks' 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, and appropriate for having a conversation with a good friend or reading a book
    • Recognize that visiting Starbucks is as much about the experience of drinking coffee as it is about the coffee itself
  • 18. Successful Brand-Based Communications
    • Use all communication strategies to help achieve your corporate strategy and brand vision.
    • Let your brand positioning largely determine the right communications strategy to execute.
    • Use an integrated marketing communications strategy to get maximum return from all dollar investments.
  • 19. Some Metrics to Measure Return on Brand Investment:
    • Brand name knowledge, awareness, recognition, recall : measures strength of the brand as reflected by customer's ability to identify the brand under varying conditions
    • Contract fulfillment : measures the degree to which your brand is upholding its Brand Contract
  • 20. Some Metrics to Measure Return on Brand Investment:
    • Acquired customers : counts customers claiming they have come to your company based on the strength of the brand
    • Customer loyalty : measures the degree to which customers continue to purchase your brand and how long that loyalty has lasted
  • 21.
    • Financial value : reports the financial value of your brand in the marketplace
    • Price premium : finds the percentage of price premium your brand is able to command over private-label brands, as well as key competitor brands
    Some Metrics to Measure Return on Brand Investment:
  • 22. Source of Reference: Scott M. Davis, Brand Asset Management , Jossey Bass.