Lecture 8 - Brand Management

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Brand management - presentation slides of lecture 8

Lecture 8 - Brand Management

  1. 1. Brand Management Lecture -8 PT MBA – Yr.1 – Trimester III
  2. 2. Today… <ul><li>Brand Equity Measurement and Management System </li></ul><ul><ul><li>Brand Value Chain </li></ul></ul><ul><ul><li>Brand Tracking Studies </li></ul></ul><ul><ul><li>Brand equity management system </li></ul></ul>
  3. 3. Why measure Brand Equity? <ul><li>Track consumer’s brand knowledge </li></ul><ul><li>Towards Favourable and unique brand association </li></ul><ul><li>To trace the ways in which Brand equity is created and its financial implications </li></ul>
  4. 4. The Brand Value Chain <ul><li>Basic Assumptions </li></ul><ul><li>Brand Value resides in customer’s mind </li></ul><ul><li>Process begins with firm investing on a chosen customer segment </li></ul><ul><li>Changes in customer mindset </li></ul><ul><li>Final result of Shareholders </li></ul><ul><li>Linking factors - Multipliers </li></ul>
  5. 5. The Brand Value Chain Marketing Program Investment Customer Mindset Market Performance Shareholder Value Program Quality Market place Conditions Investor Sentiment Multiplier Value Stages <ul><li>Awareness </li></ul><ul><li>Associations </li></ul><ul><li>Attitudes </li></ul><ul><li>Attachment </li></ul><ul><li>Activity </li></ul><ul><li>Product </li></ul><ul><li>Communication </li></ul><ul><li>Trade </li></ul><ul><li>Employee </li></ul><ul><li>Other </li></ul><ul><li>Price premium </li></ul><ul><li>Price elasticities </li></ul><ul><li>Market share </li></ul><ul><li>Expansion success </li></ul><ul><li>Cost structure </li></ul><ul><li>Profitability </li></ul><ul><li>Stock prices </li></ul><ul><li>P/E ratio </li></ul><ul><li>Market capitalization </li></ul><ul><li>Market dynamics </li></ul><ul><li>Growth potential </li></ul><ul><li>Risk Profile </li></ul><ul><li>Brand contribution </li></ul><ul><li>Competitive reactions </li></ul><ul><li>Channel support </li></ul><ul><li>Customer size and profile </li></ul><ul><li>Clarity </li></ul><ul><li>Relevance </li></ul><ul><li>Distinctiveness </li></ul><ul><li>Consistency </li></ul>
  6. 6. Brand Tracking Studies Involves Information collected from consumers on a routine basis Quantitative measures to indicate current information
  7. 7. What to track? <ul><li>Product- brand tracking </li></ul><ul><ul><li>Recall and recognition measures </li></ul></ul><ul><ul><li>More specific questions regarding the brand </li></ul></ul><ul><ul><li>Strength, Favorability and Uniqueness </li></ul></ul><ul><li>Corporate or Family brand tracking </li></ul><ul><ul><li>How well managed is Reliance? </li></ul></ul><ul><ul><li>How easy is it to do business with Reliance? </li></ul></ul><ul><ul><li>How concerned is Reliance with its customers? </li></ul></ul><ul><ul><li>How approachable is Reliance? </li></ul></ul><ul><ul><li>How accessible is Reliance? </li></ul></ul><ul><ul><li>How much do you like doing business with Reliance? </li></ul></ul><ul><ul><li>What products are recalled for the corporate brand? </li></ul></ul><ul><li>Global Tracking Across markets </li></ul>
  8. 8. Global Tracking Economic Indicators : GDP, Interest Rates, Unemployment, Average wage, Disposable income, exchange rates, share markets Media Indicators: Media consumption, Ad expenditure, Share of Voice, Category spends <ul><li>Retail </li></ul><ul><li>Technology </li></ul><ul><li>Personal Attitude and Values </li></ul><ul><li>Demographic profile </li></ul><ul><li>Other Products and services </li></ul><ul><li>Attitude to brands and shopping </li></ul>
  9. 9. How to conduct tracking studies <ul><li>Who to track </li></ul><ul><ul><li>Customer segments across brand loyalties </li></ul></ul><ul><ul><li>Competitor customers </li></ul></ul><ul><ul><li>Channel partners </li></ul></ul><ul><li>When and Where to track </li></ul><ul><ul><li>Frequency of tracking – new and mature markets </li></ul></ul><ul><ul><li>Continuous tracking </li></ul></ul>
  10. 10. How to interpret tracking studies <ul><li>Reflection of </li></ul><ul><ul><li>Brand awareness </li></ul></ul><ul><ul><li>Strength, Favorability and uniqueness of Brand associations </li></ul></ul><ul><ul><li>Brand judgements and feelings </li></ul></ul><ul><ul><li>Intensity and activity of Brand loyalty </li></ul></ul>
  11. 11. Brand Equity Management System <ul><li>Brand Equity Charter </li></ul><ul><ul><li>Define the firm’s concept of Brand Equity </li></ul></ul><ul><ul><li>Scope of key terms </li></ul></ul><ul><ul><li>Desired equity at various levels of Brand Hierarchy </li></ul></ul><ul><ul><li>Range of relevant associations </li></ul></ul><ul><ul><li>Method of measurement Brnad equity </li></ul></ul><ul><ul><li>Strategic guidelines to manage brand (eg.. Stress on Clarity, relevance, distinctiveness and consistency in marketing programmes) </li></ul></ul><ul><ul><li>Tactical guidelines for marketing programmes </li></ul></ul><ul><ul><li>Specific guidelines for brand element usage.. Trademarks, packaging, communications </li></ul></ul>
  12. 12. Managing Brand Equity <ul><li>Brand Equity report </li></ul><ul><ul><li>Descriptive as well as diagnostic </li></ul></ul><ul><ul><li>Descriptive market level info </li></ul></ul><ul><ul><ul><li>Product shipments and movements </li></ul></ul></ul><ul><ul><ul><li>Relevant cost breakdowns </li></ul></ul></ul><ul><ul><ul><li>Price and discount schedules </li></ul></ul></ul><ul><ul><ul><li>Sales and Market share information </li></ul></ul></ul><ul><ul><ul><li>Profit assessments </li></ul></ul></ul><ul><li>Brand Equity responsibilities </li></ul><ul><ul><li>Overseeing BE – CEO vs. CBO </li></ul></ul>

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