Brand Basics

Waldo Finn The Consumer Matters Brand Basics

What Is Brand Equity? Brand Equity is a set of assets (and liabilities) linked to a brand’s name and symbol that adds to (or subtracts from) the value provided by a product or service to a firm and/or a firm’s customers.

Building A Brand Over Time Brand Name Awareness Brand Recognition – familiarity with the brand from past exposure Brand Recall – if the brand comes to consumer’s minds when its product class is mentioned Brand Loyalty The more loyal customers are to a brand, the more valuable the brand is Loyal customers create very predictable sales and profit Customer loyalty can be increased by instituting Frequent Buyer Programs and Customer Clubs, or through Database Marketing Perceived Quality Perceived quality of a brand drives financial performance Brand Associations Brand associations are the mental associations that people have in regards to a brand – product attributes, symbols, product class, etc. Brand Identity drives these Brand Associations

What Is Brand Identity? Brand Identity is a unique set of brand associations that the brand strategist aspires to create or maintain. These associations represent what the brand stands for and imply a promise to customers from organization members. There are 4 brand identity perspectives: Brand as a Product Brand as an Organization Brand as a Person Brand as a Symbol

Developing Brand Perspectives Brand as Product What is the product? Why is it better/different than competitors? When do you use it? Is it store-brand or top-shelf? Brand as an Organization What does the company stand for? How do they operate business? How does that translate to their products? Brand as a Person If this product was a person, who would it be? What type of personality would it have? What type of relationship does the customer have with the brand? Brand as a Symbol Are there any logos/symbols that come to mind when thinking about this brand? Can customers easily bring to mind the brand identity when they see its associated symbol?

Implementing the Brand Identity Implementation begins with the creation of a Brand Position based on the Brand Identity Brand Position is the part of the brand identity and value proposition that is to be actively communicated to the target audience and that demonstrates an advantage over competing brands. Internally, you should be clear with employees how to operationalize your brand and support it at every touchpoint.

Brand Strategy Over Time The key to a strong Brand over time is consistency with the Brand Identity. You can change the Brand Perception by evolving the Identity: Update the logo, Use new Slogans, Create new Products You may also augment the Identity: Create Sub-brands, Change user imagery, Add emotional benefits, or Create Product Extensions

What Is Brand Architecture? Brand Architecture defines the way in which the brands within a company’s portfolio are related to, and differentiated from, one another. Should define how the corporate brand and sub-brands relate to and support each other.

Managing A System Of Brands Within the organization, the system of brands must fit together and support each other (at least not contradict and confuse the customer); decisions must be made with other brands in mind. Each Brand will fall into a specific role: Driver – Drives the purchase decision Endorser – Provides support and credibility to driver brand Strategic – Important brand to the future of the company; Represents large future profit or is highly impactful for company initiatives Subbrand – Part of a new line within the brand system Branded Benefits – Features, components, services Silver Bullet – Subbrand or branded benefit that is employed as a vehicle for changing or supporting a parent brand

Creating a Leveraged Brand A strong brand can be leveraged to create larger and stronger business entities There are several options to leverage brands: Line extensions within the existing product class is the simplest form of leveraging Stretching the brand up or down within a specific product class is also common Brand Extension, or extending the brand into other product classes, is the ultimate way to leverage

Organizing For Brand Building Someone, or a group of individuals, must be in charge of the brand: From creating the Brand Identity, to designing implementation, to making Product Line decisions (Brand Manager, CEO, Brand Champion, Brand Committee, etc.) Companies must coordinate the brand across the organization – different divisions that use the same Brand should all be in alignment Coordinating the Brand in the Media is also key, ensuring that regardless of the medium, the message is consistent

Thank you! @gearheadgal http://theconsumermatters.com

http://gearheadgal.net	34
http://www.slideshare.net	12

Brand Basics

by Waldo Finn on Mar 30, 2010

Accessibility

Categories

Tags

Upload Details

Usage Rights

2 Embeds 46

Statistics

Brand Basics — Presentation Transcript