Keller sbm3 13

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Keller sbm3 13

  1. 1. 13.1CHAPTER 13:CHAPTER 13:MANAGING BRANDS OVER TIMEMANAGING BRANDS OVER TIMEKevin Lane KellerKevin Lane KellerTuck School of BusinessTuck School of BusinessDartmouth CollegeDartmouth College
  2. 2. 13.2Reinforcing BrandsReinforcing Brands Generally, we reinforce brand equity byGenerally, we reinforce brand equity bymarketing actions that consistently convey themarketing actions that consistently convey themeaning of the brand to consumers in terms ofmeaning of the brand to consumers in terms ofbrand awareness and brand image.brand awareness and brand image.
  3. 3. 13.3Managing Brands over TimeManaging Brands over Time Effective brand management requires taking aEffective brand management requires taking along-term view of marketing decisionslong-term view of marketing decisions Any action that a firm takes as part of its marketingAny action that a firm takes as part of its marketingprogram has the potential to change consumerprogram has the potential to change consumerknowledge about the brand.knowledge about the brand. These changes in consumer brand knowledge fromThese changes in consumer brand knowledge fromcurrent marketing activity also will have an indirectcurrent marketing activity also will have an indirecteffect on the success ofeffect on the success of futurefuture marketing activities.marketing activities.
  4. 4. 13.4Consumer response topast marketing activitiesConsumer response tofuture marketing activitiesConsumer response tocurrent marketing activitiesBrand awareness and brand imageChanged brand awareness and brand image
  5. 5. 13.5Reinforcing BrandsReinforcing Brands Maintaining brand consistencyMaintaining brand consistency Consistent marketing support in amount and natureConsistent marketing support in amount and nature Protecting sources of brand equityProtecting sources of brand equity Fortifying versus leveragingFortifying versus leveraging Trade-offTrade-off Fine-tuning the supporting marketing programFine-tuning the supporting marketing program
  6. 6. 13.6Innovation in productdesign, manufacturingand merchandisingRelevance in userand usage imageryConsistency inamount and natureof marketingsupportContinuity in brandmeaning; changes inmarketing tacticsTrading offmarketingactivities tofortify vs.leverage brandequityProtecting sourcesof brand equityBrand Awareness•What products does the brand represent?•What benefits does it supply?•What needs does it satisfy?BrandReinforcementStrategiesBrand Image•How does the brand make products superior?•What strong, favorable, and unique brandassociations exist in customers’ minds?
  7. 7. 13.7Revitalizing BrandsRevitalizing Brands Expand the depth and/or breadth of awareness byExpand the depth and/or breadth of awareness byimproving consumer recall and recognition of the brandimproving consumer recall and recognition of the brandduring purchase or consumption settingsduring purchase or consumption settings Improve the strength, favorability, and uniqueness ofImprove the strength, favorability, and uniqueness ofbrand associationsbrand associations——either existing or neweither existing or new——making upmaking upthe brand imagethe brand image
  8. 8. 13.8BrandRevitalizationStrategiesRefresh old sourcesOf brand equityCreate new sourcesOf brand equityExpand depth andBreadth of awarenessAnd usage of brandIncrease quantityof consumption(how much)Increase frequencyof consumption(how often)Improve strength,favorability, anduniqueness of brandassociationsBolster fading associationsNeutralize negativeassociationsCreate new associationsIdentify additionalopportunities touse Brand in Samebasic wayIdentify completelynew and differentways to useRetain vulnerablecustomersRecapture lostcustomersIdentify neglectedsegmentsAttract newcustomers
  9. 9. 13.9Strategies to Revitalize BrandsStrategies to Revitalize Brands Expanding brand awarenessExpanding brand awareness Breadth challengeBreadth challenge Improving brand imageImproving brand image Repositioning the brandRepositioning the brand Changing brand elementsChanging brand elements Entering new marketsEntering new markets
  10. 10. 13.10Expanding Brand AwarenessExpanding Brand Awareness Increasing usageIncreasing usage Increasing the level or quantity of consumptionIncreasing the level or quantity of consumption Increasing the frequency of consumptionIncreasing the frequency of consumption Identifying new or additional usage opportunitiesIdentifying new or additional usage opportunities Communicate appropriateness of more frequent useCommunicate appropriateness of more frequent usein current situationsin current situations Reminders to useReminders to use Identifying new and completely different ways toIdentifying new and completely different ways touse the branduse the brand
  11. 11. 13.11Improving the Brand ImageImproving the Brand Image Repositioning the brandRepositioning the brand Establish more compelling points of differenceEstablish more compelling points of difference In some cases, a key point of difference may turnIn some cases, a key point of difference may turnout to be nostalgia and heritage rather than anyout to be nostalgia and heritage rather than anyproduct-related difference.product-related difference. Other times we need to reposition a brand toOther times we need to reposition a brand toestablish a point of parity on some key imageestablish a point of parity on some key imagedimension.dimension. Changing brand elementsChanging brand elements Convey new information or signal that the brandConvey new information or signal that the brandhas taken on new meaninghas taken on new meaning
  12. 12. 13.12Improving the Brand ImageImproving the Brand Image Go “back to basics” and tap into existingGo “back to basics” and tap into existingsources of brand equity (e.g., Harley-Davidson)sources of brand equity (e.g., Harley-Davidson) Product strategyProduct strategy Pricing strategyPricing strategy Channel strategyChannel strategy Communication strategyCommunication strategy Create new sources of brand equity (e.g.,Create new sources of brand equity (e.g.,Mountain Dew)Mountain Dew)
  13. 13. 13.13Entering New MarketsEntering New Markets One strategic option for revitalizing a fadingOne strategic option for revitalizing a fadingbrand is simply to more or less abandon thebrand is simply to more or less abandon theconsumer group that supported the brand inconsumer group that supported the brand inthe past to target a completely new marketthe past to target a completely new marketsegment.segment.
  14. 14. 13.14Adjustments to Brand PortfolioAdjustments to Brand Portfolio Migration strategiesMigration strategies A corporate or family branding strategy in which brands areA corporate or family branding strategy in which brands areordered in a logical manner could provide the hierarchicalordered in a logical manner could provide the hierarchicalstructure in consumers’ minds to facilitate brand migration.structure in consumers’ minds to facilitate brand migration. Example: BMW with its 3-, 5-, and 7-series numbering systemsExample: BMW with its 3-, 5-, and 7-series numbering systems Acquiring new customersAcquiring new customers Tradeoffs in their marketing efforts between attracting newTradeoffs in their marketing efforts between attracting newcustomers and retaining existing onescustomers and retaining existing ones Firms must proactively develop strategies to attract newFirms must proactively develop strategies to attract newcustomers, especially younger ones.customers, especially younger ones. Retiring brandsRetiring brands

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