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Branding101

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A complete tour about Branding developed by Mr. Kevin Lane Keller and cosmetized by Adrian Monoranu.

A complete tour about Branding developed by Mr. Kevin Lane Keller and cosmetized by Adrian Monoranu.

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Transcript

  • 1. BRAND MANAGEMENT
    • Courtesy of:
    • Prof. Kevin L. Keller
    • Amos Tuck School of Business
    • Dartmouth College, USA
    • Adrian Monoranu
    • [email_address]
    • www.monoranu.ro
    • http://twitter.com/monoranu
    • http://youtube.com/monoranu
    • http://facebook.com/monoranu
  • 2. What is a Brand?
    • A brand is a name, term, sign, symbol, or design which is intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.
  • 3. New Branding Challenges
    • Brands are important as ever
      • Consumer need for simplification
      • Consumer need for risk reduction
    • Brand management is as difficult as ever
      • Savvy consumers
      • Increased competition
      • Decreased effectiveness of traditional marketing tools and emergence of new marketing tools
      • Complex brand and product portfolios
  • 4. The Customer/Brand Challenge
    • In this difficult environment, marketers must have a keen understanding of:
      • customers
      • brands
      • the relationship between the two
      • creating brand equity*
      • * Brand equity refers to the marketing effects or outcomes that accrue to a product with its brand name compared with those that would accrue if the same product did not have the brand name – Kevin Lane Keller – 2003.
  • 5. The Key to Branding
    • For branding strategies to be successful, consumers must be convinced that there are meaningful differences among brands in the product or service category.
    • Consumer must not think that all brands in the category are the same.
    • PERCEPTION = VALUE
  • 6. Strategic Brand Management
    • Strategic brand management involves the design and implementation of marketing programs and activities to build, measure, and manage brand equity.
    • The strategic brand management process is defined as involving four main steps:
    • 1) Identifying and establishing brand positioning and values
    • 2)  Planning and implementing brand marketing programs
    • 3)  Measuring and interpreting brand performance
    • 4)  Growing and sustaining brand equity
  • 7. Strategic Brand Management Process Mental maps Competitive frame of reference Points-of-parity and points-of-difference Core brand values Brand mantra Mixing and matching of brand elements Integrating brand marketing activities Leveraging of secondary associations Brand Value Chain Brand audits Brand tracking Brand equity management system Brand-product matrix Brand portfolios and hierarchies Brand expansion strategies Brand reinforcement and revitalization KEY CONCEPTS STEPS Grow and Sustain Brand Equity Identify and Establish Brand Positioning and Values Plan and Implement Brand Marketing Programs Measure and Interpret Brand Performance
  • 8. Bookmark, Read, Acknowledge! http://darkmattermatters.com/brand-positioning-tips/ Chris Grams
  • 9. The Concept of Brand Equity
    • The brand equity concept stresses the importance of the brand in marketing strategies.
    • Brand equity is defined in terms of the marketing effects uniquely attributable to the brand.
      • Brand equity relates to the fact that different outcomes result in the marketing of a product or service because of its brand name, as compared to if the same product or service did not have that name.
  • 10. The Concept of Customer-Based Brand Equity
    • Customer-based brand equity
      • Differential effect
      • Customer brand knowledge
      • Customer response to brand marketing
      • http://mktg.uni-svishtov.bg/ivm/resources/CustomerBasedbrandEquityModel.pdf
  • 11. Determinants of Customer-Based Brand Equity
      • Customer is aware of and familiar with the brand
      • Customer holds some strong, favorable, and unique brand associations in memory
  • 12. Building Customer-Based Brand Equity
    • Brand knowledge structures depend on . . .
      • The initial choices for the brand elements
      • The supporting marketing program and the manner by which the brand is integrated into it
      • Other associations indirectly transferred to the brand by linking it to some other entities
  • 13. Brand Elements
    • A variety of brand elements can be chosen that inherently enhance brand awareness or facilitate the formation of strong, favorable, and unique brand associations:
      • Brand Name
      • Logo
      • Symbol
      • Character
      • Packaging
      • Slogan
  • 14. Brand Elements Choice Criteria: General Considerations
    • Memorable
      • Easily Recognized
      • Easily Recalled
    • Meaningful
      • Credible & Suggestive
      • Rich Visual & Verbal Imagery
    • Appealing
      • Fun & Interesting
      • Aesthetics
    • Adaptabl e
      • Flexible & Updateable
    • Protectable
      • Legally
      • Competitively
    • Transferrable
      • Within & Across Product Categories
      • Across Geographical Boundaries & Cultures
  • 15. Benefits of Customer-Based Brand Equity
    • Enjoy greater brand loyalty, usage, and affinity
    • Command larger price premiums
    • Receive greater trade cooperation & support
    • Increase marketing communication effectiveness
    • Yield licensing opportunities
    • Support brand extensions.
  • 16. Customer-Based Brand Equity as a “Bridge”
    • Customer-based brand equity represents the “added value” endowed to a product as a result of past investments in the marketing of a brand.
    • Customer-based brand equity provides direction and focus to future marketing activities
  • 17. Motivation for Customer-Based Brand Equity Model
    • Marketers know strong brands are important but aren’t always sure how to build one.
    • CBBE model was designed to be …
      • comprehensive
      • cohesive
      • well-grounded
      • up-to-date
      • actionable
  • 18. Rationale of Customer-Based Brand Equity Model
    • Basic premise: Power of a brand resides in the minds of customers
    • Challenge is to ensure customers have the right types of experiences with products & services and their marketing programs to create the right brand knowledge structures:
      • Thoughts
      • Feelings
      • Images
      • Perceptions
      • Attitudes
  • 19. Building Customer-Based Brand Equity
    • Building a strong brand involves a series of steps as part of a “branding ladder”
    • A strong brand is also characterized by a logically constructed set of brand “building blocks.”
      • Identifies areas of strength and weakness
      • Provides guidance to marketing activities
  • 20. Consumer-Based Brand Equity Framework Brand Knowledge Brand Recognition Brand Recall Non-Product-Related (e.g., Price, Packaging, User and Usage Imagery) Product-Related (e.g., color, size, design features) Functional Symbolic Experiential Attributes Benefits Overall Evaluation (Attitude) Types of Brand Associations Favorability, Strength, and Uniqueness of Brand Association Brand Awareness Brand Image
  • 21. CUSTOMER-BASED BRAND EQUITY PYRAMID RESONANCE SALIENCE JUDGMENTS FEELINGS PERFORMANCE IMAGERY 4. RELATIONSHIPS = What about you & me? 3. RESPONSE = What about you?
    • MEANING =
    • What are you?
    1. IDENTITY = Who are you?
  • 22. Salience Dimensions
    • Depth of brand awareness
      • Ease of recognition & recall
      • Strength & clarity of category membership
    • Breadth of brand awareness
      • Purchase consideration
      • Consumption consideration
  • 23. Performance Dimensions
    • Primary characteristics & supplementary features
    • Product reliability, durability, and serviceability
    • Service effectiveness, efficiency, and empathy
    • Style and design
    • Price
  • 24. Imagery Dimensions
    • User profiles
      • Demographic & psychographic characteristics
      • Actual or aspirational
      • Group perceptions -- popularity
    • Purchase & usage situations
      • Type of channel, specific stores, ease of purchase
      • Time (day, week, month, year, etc.), location, and context of usage
    • Personality & values
      • Sincerity, excitement, competence, sophistication, & ruggedness
    • History, heritage, & experiences
      • Nostalgia
      • Memories
  • 25. Judgment Dimensions
    • Brand quality
      • Value
      • Satisfaction
    • Brand credibility
      • Expertise
      • Trustworthiness
      • Likability
    • Brand consideration
      • Relevance
    • Brand superiority
      • Differentiation
  • 26. Feelings Dimensions
    • Warmth
    • Fun
    • Excitement
    • Security
    • Social approval
    • Self-respect
  • 27. Resonance Dimensions
    • Behavioral loyalty
      • Frequency and amount of repeat purchases
    • Attitudinal attachment
      • Love brand (favorite possessions; “a little pleasure”)
      • Proud of brand
    • Sense of community
      • Kinship ( the state of having common characteristics or a common origin )
      • Affiliation
    • Active engagement
      • Seek information
      • Join club
      • Visit web site, chat rooms
  • 28. Customer-Based Brand Equity Model Consumer- Brand Resonance Brand Salience Consumer Judgments Consumer Feelings Brand Performance Brand Imagery INTENSE, ACTIVE LOYALTY RATIONAL & EMOTIONAL REACTIONS POINTS-OF-PARITY & POINTS-OF-DIFFERENCE DEEP, BROAD BRAND AWARENESS
  • 29. Sub-Dimensions of CBBE Pyramid LOYALTY ATTACHMENT COMMUNITY ENGAGEMENT QUALITY CREDIBILITY CONSIDERATION SUPERIORITY WARMTH FUN EXCITEMENT SECURITY SOCIAL APPROVAL SELF-RESPECT CATEGORY IDENTIFICATION NEEDS SATISFIED PRIMARY CHARACTERISTICS & SECONDARY FEATURES PRODUCT RELIABILITY, DURABILITY & SERVICEABILITY SERVICE EFFECTIVENESS, EFFICIENCY, & EMPATHY STYLE AND DESIGN PRICE USER PROFILES PURCHASE & USAGE SITUATIONS PERSONALITY & VALUES HISTORY, HERITAGE, & EXPERIENCES
  • 30. Brand Positioning
    • Define competitive frame of reference
      • Target market
      • Nature of competition
    • Define desired brand knowledge structures
      • Points-of-parity
        • necessary
        • competitive
      • Points-of-difference
        • strong, favorable, and unique brand associations
  • 31. Issues in Implementing Brand Positioning
    • Establishing Category Membership
    • Identifying & Choosing POP’s & POD’s
    • Communicating & Establishing POP’s & POD’s
    • Sustaining & Evolving POD’s & POP’s
  • 32. Establishing Category Membership
    • Product descriptor
    • Exemplar comparisons
  • 33. Identifying & Choosing POP’s & POD’s
    • Desirability criteria (consumer perspective)
      • Personally relevant
      • Distinctive & superior
      • Believable & credible
    • Deliverability criteria (firm perspective)
      • Feasible
      • Profitable
      • Pre-emptive, defensible & difficult to attack
  • 34. Major Challenges in Positioning
    • Find compelling & impactful points-of-difference (MacMillan & McGrath, HBR , ‘97)
      • How do people become aware of their need for your product and service?
      • How do consumers find your offering?
      • How do consumers make their final selection?
      • How do consumers order and purchase your product or service?
      • What happens when your product or service is delivered?
      • How is your product installed?
      • How is your product or service paid for?
  • 35. Major Challenges in Positioning
    • Find compelling & impactful points-of-difference (cont.)
      • How is your product stored?
      • How is your product moved around?
      • What is the consumer really using your product for?
      • What do consumers need help with when they use your product?
      • What about returns or exchanges?
      • How is your product repaired or serviced?
      • What happens when your product is disposed of or no longer used?
  • 36. Communicating & Establishing POP’s & POD’s
    • Create POP’s and POD’s in the face of attribute & benefit trade-offs
      • Price & quality
      • Convenience & quality
      • Taste & low calories
      • Efficacy & mildness
      • Power & safety
      • Ubiquity & prestige
      • Comprehensiveness (variety) & simplicity
      • Strength & refinement
  • 37. Strategies to Reconcile Attribute & Benefit Trade-Offs
    • Establish separate marketing programs
    • Leverage secondary association (e.g., co-brand)
    • Re-define the relationship from negative to positive
  • 38. Sustaining & Evolving POP’s & POD’s
    • Core Brand Values &
    • Core Brand Proposition
  • 39. Core Brand Values
    • Set of abstract concepts or phrases that characterize the 5-10 most important dimensions of the mental map of a brand.
    • Relate to points-of-parity and points-of-difference
    • Mental Map  Core Brand Values  Brand Mantra
  • 40. Brand Mantras
    • A brand mantra is an articulation of the “heart and soul” of the brand.
      • Brand mantras are short three to five word phrases that capture the irrefutable essence or spirit of the brand positioning and brand values .
    • Nike
      • Authentic Athletic Performance
    • Disney
      • Fun Family Entertainment
  • 41. Integrating the Brand Into Supporting Marketing Programs
    • Product Strategy
        • Deliver tangible and intangible benefits
        • Add value through customer information
    • Pricing Strategy
        • Understand perceptions of value
        • Balance price, cost, & quality
    • Communication Strategy
      • Mix & match communication options
    • Channel Strategy
      • Blend channel “push” with consumer “pull”
      • Develop & brand direct marketing options
    Supporting marketing mix should be designed to enhance awareness and establish desired brand image.
  • 42. Personalizing Marketing
    • Relationship Marketing – provide more holistic, personalized brand experiences to create stronger consumer ties
      • Mass customization
      • CRM
      • After-marketing & loyalty programs
    • Examples
      • Experiential Marketing
      • Permission Marketing
      • One-to-One Marketing
  • 43. Experiential Marketing
    • Employ multiple touch points & multiple senses
    • Often involves special events, contests, promotions, sampling, on-line activities, etc.
    • Combine brand education & entertainment
    • Distinctive and relevant
  • 44. Permission Marketing (Seth Godin)
    • Permission marketing “encourages consumers to participate in a long-term interactive marketing campaign in which they are rewarded in some way for paying attention to increasingly relevant messages.”
      • Anticipated
      • Personal
      • Relevant
    • Permission marketing can be contrasted to interruption marketing
  • 45. 5 Steps in Permission Marketing
    • Must offer overt, obvious, and clearly delivered incentive to prospect to volunteer
    • Must offer a curriculum over time, teaching the consumer about the product or service
    • Must reinforce the incentive over time
    • Must increase the level of permission the marketer receives from the customer
    • Must leverage permission to generate profits
  • 46. 10 Questions to Evaluate Permission Marketing Program
    • What’s the bait?
    • What does an incremental permission cost?
    • How deep is the permission that so granted?
    • How much does incremental frequency cost?
    • What’s the active response rate to communications?
    • What are the issues regarding compression?
    • Is the company treating the permission as an asset?
    • How is the permission being leveraged?
    • How is the permission level being increased?
    • What is the expected lifetime of one permission?
  • 47. One-to-One Marketing: Competitive Rationale
    • Consumers help to add value by providing information
    • Firm adds value by generating rewarding experiences with consumers
      • Creates switching costs for consumers
      • Reduces transaction costs for consumers
      • Maximizes utility for consumers
  • 48. One-to-One Marketing: Consumer Differentiation
    • Treat different consumers differently
      • Different needs
      • Different values to firm
        • current
        • future (life-time value)
    • Devote more marketing effort on most valuable consumers (and customers)
  • 49. One-to-One Marketing: Five Key Steps
    • Identify consumers, individually and addressably
    • Differentiate them, by value and needs
    • Interact with them more cost-efficiently and effectively
    • Customize some aspect of the firm’s behavior
    • Brand the relationship
  • 50. Buzz Marketing ( Emanuel Rosen)
    • Keep it simple – Simple messages spread across social networks more easily.
    • Tell us what’s new – The message must be relevant and newsworthy for people to want to tell others about it.
    • Don’t make claims you can’t support – Making false claims will kill buzz or, worse, lead to negative buzz.
    • Ask your customers to articulate what’s special about your product or service – If customers can explain why they like the product or service, they can then communicate this to others.
    • Start measuring buzz – This can help determine which strategies generate the most buzz.
    • Listen to the buzz – Monitoring consumer reaction can yield insights such as how to improve the product or service.
  • 51. Personalizing Marketing
    • All of these approaches are a means to create deeper, richer, and more favorable brand associations
    • Relationship marketing has become a powerful brand-building force
      • can slip through consumer radar
      • may creatively create unique associations
      • may reinforce brand imagery and feelings
    • Nevertheless, there is still a need for the control and predictability of traditional marketing activities
    • Models of brand equity can help to provide direction and focus to the marketing programs