Brand management

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  • Value is added by change in customer behavior, NOT attitude
  • What determines what a brand is worth? value lies with the customers. What they know and feel about a brand
  • It’s the beginning of the chain. Where you start with a productR &DAdvertising, promotion, PRTrade and intermediary supportEmployee traiingClarity- how understandable is ther marketing campaign? Do customers properly interprety the meaning conveyed?Relevance- how meaningful is the campaign?Distintiveness- how unique is it compared to competitors?Consistency- how well integrated I the marketing? Do they combine well?
  • C mindset- how has the customer been changed by the campaign?MP conditions- measures extent to which value is created in minds of customers affects market performance.Comp. reactions- how effective are the marketing investmens of other competing brands?Channel support- level of bran reinforment and selling effort taken by marketing partnersCustomer size and profile-how many and what type of customers are attracted to the brand
  • Premium- how much extra people are willing to payElasticity- how does demand change with price changesCost structure- savings in terms of ability to reduce marketing expendituresBrand contribution- how important is the brand to the firms brand portfolio?
  • Marketers rarely get something for nothing
  • Accounting? Same thing. But External, customer focused
  • Also look at competitionConsistency throughout a brand line-kellogs
  • Qual: harder to find out since people can answer anything they wantQuan: more definitative
  • Good for regular check ups and when change is contemplatedDoes a brand like converse need to regularly check up on its branding? What about walmart?
  • Helps us understand category dynamics, consumer behavior, competitive vulnerabilities and opportunities, and marketing effectiveness and efficiency
  • Associations: potential sources of brand equity benefit associations – determine behavior Turn to page 399 like a simple survey you have taken before
  • How well is the family managed?How approachable? How accessible?How much do you like doing business with brand?How concerned is brand with its customers?
  • How to evaluate a corporation
  • Current customers, non usersDistinguish between heavy and light usersChannel intermediaries which products sell faster in the shop?employees
  • Mature markets- opinions stay stillEmerging markets- opinions are unpredictable and may shift quickly
  • Benchmarks-what is a high level of enjoyment? Low level?Sensitive- compared with one month ago? Or compared with other brands? Rather than how much do you like it?Ask about don’t knows….means apathy.
  • company’s viewScope of brands in the manner in which they have been branded, explain importanceWhat actual and desired equity isHow brand equity is measuredHow brand equity can be managed in general strategic guidelinesHow marketing campaings can be devides in terms of guidelinesProper treament of brand in terms of trademark usage, packaging, and communications.Updated yearly.
  • Should also include: shipments retail trends cost breakdowns profit assesments price and discount schedules when appropriate
  • Robert Malcom gives us the GAME planAllows us to see insight into the mkt performance component of the brand value chain
  • Any brands that you have notices have failed?Dunkaroos?
  • Need to create a new positionBrand audits, tracking groups, brand strength monitorsCheck out and weaknesses and strengthen them or exploit an opportunityEvaluating advertising campaigns, HR plansWith respect to core valuesHelps determine how much of a budget to allocate to branding
  • Brand management

    1. 1.  What does a brand equity measurement system mean to you?  What about a brand equity management system?
    2. 2.  Brands need to: ◦ Measure what they do and prove their worth  Ability to generate cash flow  Create customer value
    3. 3.  A structured approach to assessing the sources and outcomes of brand equity and how marketing activities create brand value.
    4. 4.  Where do you think the value of a brand lies?
    5. 5.  Allows insight as to where value is created and where to improve
    6. 6.  To create value, you need a well-funded, well-planned, and well-implemented marketing plan
    7. 7.  Need to ensure value transfers from stage to stage
    8. 8.  What do you think of when you hear audit?
    9. 9.  A comprehensive examination of a brand in terms of its sources of brand equity.  To learn what customers know about your brand  Sets strategic direction for company
    10. 10.  Understand the products and services offered  How they are marketed and branded
    11. 11.  Understand customers perceptions and beliefs to uncover the true meaning of brands and products.
    12. 12.  1. Brand inventory ◦ Provides a comprehensive profile of how all the products and services are marketed and branded. ◦ Asses consistency
    13. 13.  2. Brand Exploratory ◦ Research directed about understanding what customers think and feel about the brand and its product category to identify its sources of brand equity.
    14. 14.  1. review archives  2. interview staff  3. do additional research
    15. 15.  Qualitative: ◦ Find out what customers implicitly mean. • Quantitative: – Strength – Favorability – uniqueness
    16. 16.  Do you think they are worth it?  A good idea?
    17. 17.  Info collected over time  Provides baseline info for day-to-day decisions
    18. 18.  Brand associations ◦ Strength, favorability, uniqueness • Judgments & feelings
    19. 19.  Additional questions warranted
    20. 20.  Who do you think these brands should track?
    21. 21.  Continuous?  Less frequent for durable goods?  Every week?  What do you think?
    22. 22.  Deciding on appropriate benchmarks  Sensitive tracking measures  “don’t know” or no response?
    23. 23.  None of the before mentioned information matters until it is put into action  Increases likelihood of good decisions
    24. 24.  Formal written document containing the company view of brand equity 1.Define 2.Describe 3.Specify 4.Explain 5.Suggest 6.Outline 7.Specify
    25. 25.  Find out what is happening with the brand and why  Summary of customer perfections of attribute or benefit associations  Measures of performance and sources and outcomes of the brand equity
    26. 26.  Goal: identify key brands  Activity: locate status on a baseline compared to competition  Measurement: allocate inputs with objectives such as increasing purchase intensity  Evaluation: assess the outputs
    27. 27.  Organizational responsibilities must be defined clearly  Weak brands have a lack of discipline, commitment, and investment. dunkaroos commercial
    28. 28. 1. Review brand-sensitive material 2. Review status of brand initiatives 3. Review brand-sensitive products 4. Review product and distribution strategies 5. Resolve brand positioning conflicts
    29. 29.  What is the difference between a monetary valuation and the CBBE concept of keller? Where do you see links?
    30. 30.  http://www.interbrand.com/en/best-global- brands/2012/Best-Global-Brands-2012- Brand-View.aspx  Which brands would you have expected to be higher or lower on the list and why?
    31. 31.  In 2005, Phillips was very proud that their vale as estimated by Interbrand had improved. Philips attributed this to the introduction of the new positioning earmarked by their “Sense and Simplicity” slogan. In how far do you think this is justified? In what way do such branding attics influence the calculations of Interbrand?
    32. 32. What effects do awareness and brand associations have on consumer behavior?
    33. 33.  Brand-based  Market-based  Conjoint analysis
    34. 34.  Consumers respond to the marketing campaign when the brand is changed
    35. 35.  Consumers respond to the brand when the marketing campaign changes (price, new products)
    36. 36.  A combination of changes in brand and marketing campaign A B C Brand Bottle Design Price Nutrition ? Coke A $1.00 Good Coke B $1.50 Bad Pepsi A $1.25 Bad Pepsi C $1.00 Bad Afri-cola C $0.85 Good Afri-cola B $1.25 Bad
    37. 37.  Tries to put a value on the brand, either abstract or financial  Residual approach  Valuation approach
    38. 38.  Brand equity is calculated by taking away the physical aspects of the product and using just consumer preferences
    39. 39.  Attempts to put a financial value on a brand  Cost – how much would it cost to recreate it?  Market – how much could you sell it for right now?  Income – how much will it make in the future?
    40. 40.  How much would it cost to recreate it?  Expensive ads don’t always equal success  http://www.youtube.com/watch?v=KjlyuR0H C08
    41. 41.  How much could you sell it for right now?  Disney bought Lucasfilm for $4.05 billion  There aren’t enough market transactions to base any solid estimates off of
    42. 42.  Tries to find the value of a brand by using future cash flow and profits
    43. 43.  Split the consumer market into groups according to applicable criteria (product, consumption, geography)
    44. 44.  Forecasted revenues and earnings from intangibles for each of the categories from the market segmentation step
    45. 45.  The role that the brand has in driving demand  Role of Branding Index (RBI) – find the drivers in a market, then calculate the degree to which each driver is connected to the brand
    46. 46.  Determine the strengths and weaknesses of the brand to make a discount rate (risk evaluation)
    47. 47.  Calculate the Net Present Value of future earnings, discounted by the brand discount rate (from the competitive benchmarking step)  This will give the brand’s ability to continue to generate revenue

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