Media Chix & Bud_Markma Report_Sept162016
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Building Strong Brands
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Media Chix & Bud_Markma Report_Sept162016
- 1. TALK SHOW: BUILDING STRONG BRANDS Atom Araullo Connie Sison
- 2. CREATING BRAND EQUITY Report by KAREN DAVILA
- 3. NAME THAT BRAND, WIN A PRIZE!
- 28. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
- 29. What is a A brand is a name term sign symbol or a combination of them, to identify of one seller or group of sellers and to differentiate them from those of competitors. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
- 30. What is a A brand is a name term sign symbol or a combination of them, to identify of one seller or group of sellers and to differentiate them from those of competitors. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
- 31. Role of 1) Identify the Maker 2) Signify Product Handling 3) Organize Accounting 4) Offer Legal Protection Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
- 32. Role of 5) Signify Quality 6) Create Barriers to Entry 7) Serve as a Competitive Advantage 8) Secure Price Premium Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
- 33. Roles of the 5) Signify Quality 6) Create Barriers to Entry 7) Serve as a Competitive Advantage 8) Secure Price Premium 1) Identify the Maker 2) Signify Product Handling 3) Organize Accounting 4) Offer Legal Protection Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
- 34. What is ing ing is endowing products & services with the power of the Brand. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
- 35. Advantages of a • Improved perceptions of product performance STRONG • Greater loyalty • Less vulnerability to competitive marketing actions & crises • Larger margins Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
- 36. Advantages of a • More inelastic consumer response STRONG • Greater trade cooperation • Increased marketing communications effectiveness • Possible licensing opportunities Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
- 37. What is Equity? Equity? is the added value endowed on products and services, which may be reflected in the way consumers, think, feel, and act with respect to the brand. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
- 38. Promise Elements Associations Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
- 39. Promise A brand promise is the marketer’s vision of what the brand must be and do for consumers. Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
- 40. Elements • Slogans Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
- 41. Elements • Characters • Symbols & Logos • URL’s • Brand names Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
- 42. Elements Memorable Meaningful Likeable Transferable Adaptable Protectable Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
- 43. Associations Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
- 44. Internal ing • Choose the right moment • Link internal and external marketing • Bring the brand alive for employees Copyright © 2011 Pearson Education, Inc. Publishing as Prentice Hall
- 46. Report by Ces Drilon
- 47. Having a strong brand equity can be the most important thing in your business http://www.businessdictionary.com/definition/brand-equity.html
- 49. Brand Equity
- 50. Pre-Test: Branding Terms 1. When a firm uses an established brand to introduce a new product, the product is called __________ a. Parent Brand 2. The existing brand that gives birth to a brand extension is called _____________ b. Brand Extension 3. In ________________, the parent brand covers a new product within a product category it currently serves c. Category Extension 4. In _______________, marketers use the parent brand to enter a different product category d. Line Extension 5. _______________ consists of all products (original and line & category extensions) sold under a particular brand e. Brand Mix 6. ___________ is the set of all brand lines that a particular seller makes f. Brand Line 7. These are specific brand lines supplied to specific retailers or distribution channels g. Licensed Products 8. These are brand names that has been licensed to other manufacturers that actually make the products h. Branded Variants
- 53. Brand Extension
- 54. Brand Portfolio Low - EndPrestigePremiumMid-Range
- 55. Branding Terms 1. When a firm uses an established brand to introduce a new product, the product is called b. Brand Extension 2. The existing brand that gives birth to a brand extension is called a. Parent Brand 3. In d. Line Extension, the parent brand covers a new product within a product category it currently serves 4. In c. Category Extension, marketers use the parent brand to enter a different product category 5. f. Brand Line consists of all products (original and line & category extensions) sold under a particular brand 6. e. Brand Mix is the set of all brand lines that a particular seller makes 7. h. Branded Variants are specific brand lines supplied to specific retailers or distribution channels 8. g. Licensed Products are brand names that has been licensed to other manufacturers that actually make the products
- 56. COMMERCIAL BREAK
- 57. CRAFTING THE BRAND POSITIONING Report by Atom Araullo
- 58. Why position our brand? • No company can win if its products and services resemble every other product and offering Discover different needs and groups in the marketplace Target those you can satisfy in a superior way Position the offering so the target market recognizes the company’s distinctive offering and images
- 59. What is positioning? • Act of designing a company’s offering and image to occupy a distinctive place in the minds of the target market • Why would my target market by my product?
- 60. ‘Steps’ in developing your brand positioning • Determine a frame of reference by identifying the target market and relevant competition • Identify the optimal points of parity and points of difference (PODs) • Create a brand mantra to summarize the positioning and essence of the brand
- 61. • Who are the main competitors, what are their strengths and weaknesses, what are their strategies? • What is each competitor seeking in the marketplace? • What drives each competitor’s behavior?
- 62. • PODs – Attributes or benefits that consumers strongly associate with a brand, positively evaluate and believe they could not find to the same extent with a competitive brand – Desirability, Deliverability, Differentiability
- 63. • POPs – Attributes or benefits associations that are not necessarily unique to the brand but may in fact be shared with other brands – Category and competitive
- 64. • An articulation of the heart and soul of the brand • Brand essence • Core brand promise • Further focus the intent of the brand positioning • Short, 3-5 word phrases • Powerful device
- 69. Customer-facing brand positioning VALUE PROPS MINIMIZED Water METRICMODEL OPERATIONS CHEMISTRY ENGINEERING + + RE-USE RECYCLE APPROACH REDUCE Through optimized unit operations Through unit op integration By taking a total Plant view to MAXIMIZE Results at OPTIMIZED TCO WATER SERVICE AND KNOWLEDGE + AUTOMATION & DATA ANALYTICS +
- 71. CONSERVING RESOURCES, ENSURING COMPLIANCE AND IMPROVING YOUR BOTTOM LINE WORKING TOGETHER TO DO MORE WITH LESS Helping you meet your business objectives ◆ Improved product quality ◆ Increased productivity ◆ Enhanced process operations ◆ Consistency across your enterprise 71
- 72. BRAND AUDIT • Brand’s current position • Examination of its effectiveness
- 73. Before you conduct a brand audit • Current brand strategy • Resource strengths, weaknesses • External opportunities, threats • Prices and Costs • Competitive position • Other strategic issues
- 74. Goals of a brand audit • To UNCOVER – Strengths – Deficiencies – Best market opportunities – Outside threats – Future profitability – Competitive standing • To ESTABLISH – Strategic elements to improve brand position – Competitive capabilities within the industry • To EXAMINE if Market share increasing, decreasing, flat? • To DETERMINE if Profit margin is increasing, decreasing, flat? • TO INVESTIGATE trends in the net profit, ROI and established economic value • TO DETERMINE financial strength and credit rating status • To ASSESS image and reputation with the customers, and other brand preference factors
- 75. COMMERCIAL BREAK
- 76. DEALING WITH COMPETITION Report by Jessica Soho
- 78. Competitive Market Strategies 40% Market Leader 30% Market Challenger 20% Market Follower 10% Market Nichers Hypothetical Market Structure
- 79. they have the largest market share and usually leads in price changes, new-product introductions, distribution coverage, and promotional intensity.
- 80. HOW TO DO IT? 1. Expand Total Market Demand *New Customers- Attract Buyers *More Usage- Marketers increase the amount, level, or frequency of consumption
- 81. 2. Protecting Market Share Proactive Marketing *responsive marketing *anticipative marketing *creative marketing Defensive Marketing
- 82. 3. Increasing Market Share *The possibility of provoking antitrust action *Economic cost *The danger of pursuing the wrong marketing activities *The effect of increased market share on actual and perceived quality
- 83. able to capitalize on leader mistakes and instantly grab market share, lower research and development cost, viewed as an aggressive and proactive enterprise willing to usurp the market leader
- 84. Market leader The challenger must decide whom to attack! Firms its own size that are not doing their job and underfinanced Small local and regional firms
- 85. The General Attack Strategy FRONTAL ATTACK- attacker matches opponent’s product, advertising, price and distribution FLANK ATTACK- attacks the weak points or blind spots of the leader ENCIRCLEMENT ATTACK- attack the enemy at many fronts at the same time BYPASS ATTACK- diversifying into unrelated products or markets neglected by the leader GUERILLA ATTACK- focuses on low cost unconventional marketing tactics that yield maximum results
- 86. runner up firm willing to maintain and not rock the boat serving small segments larger firms don’t reach
- 87. IMITATOR- copies something from the leader but differentiates on packaging, ads, pricing and location. COUNTERFEITER- duplicates the leader’s product and packages and sells it on black market or through disreputable leaders. 4 MARKET-FOLLOWER STRATEGIES CLONER- emulates the leader’s products, name, and packaging, with slight variations. ADAPTER- takes the leader’s products and adapts or improves them.
- 88. COMMERCIAL BREAK
- 89. PRODUCT LIFECYLE MANAGEMENT Report by Connie Sison
- 93. 3 Special Categories of Product Life-Cycle
- 94. • Create product awareness and trial • Offer a basic product • Charge cost-plus • Build selective distribution • Build product awareness and trials among adopters and dealers
- 95. • Maximize market share • Offer product extensions, service, warranty • Penetration pricing • Build intensive distribution • Build awareness in the mass market
- 96. • Maximize profit while defending market share • Diversify brand and models • Set to match or beat competition • Build more intensive distribution • Increase marketing to encourage brand switching
- 97. • Reduce expenditure and milk the brand • Phase out weak products • Cut price • Go selective: phase out unprofitable outlets • Marketing reduce to minimal level
- 98. FINAL COMMERCIAL
Editor's Notes
- The modern bite
- The Golden Arches
- Perhaps the most distinctive skill of professional marketers is their ability to create, maintain, enhance, and protect brands. The American Marketing Association defines a brand as “a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.” A brand is thus a product or service whose dimensions differentiate it in some way from other products or services designed to satisfy the same need. These differences may be functional, rational, or tangible—related to product performance of the brand. They may also be more symbolic, emotional, or intangible—related to what the brand represents or means in a more abstract sense.
- 1)Brands identify the source or maker of a product and allow consumers—either individuals or organizations—to assign responsibility for its performance to a particular manufacturer or distributor. Consumers may evaluate the identical product differently depending on how it is branded. They learn about brands through past experiences with the product and its marketing program, finding out which brands satisfy their needs and which do not. As consumers’ lives become more complicated, rushed, and time-starved, a brand’s ability to simplify decision making and reduce risk becomes invaluable. 2)Brands also perform valuable functions for firms. First, they simplify product handling or tracing. 3)Brands help to organize inventory and accounting records. 4)A brand also offers the firm legal protection for unique features or aspects of the product. The brand name can be protected through registered trademarks; manufacturing processes can be protected through patents; and packaging can be protected through copyrights and proprietary designs. These intellectual property rights ensure that the firm can safely invest in the brand and reap the benefits of a valuable asset.
- 1) A credible brand signals a certain level of quality so that satisfied buyers can easily choose the product again. 2) Brand loyalty provides predictability and security of demand for the firm, and it creates barriers to entry that make it difficult for other firms to enter the market. 3) Competitive Advantage – a firm who owns a place of business has a competitive advantage on rental cost over the others who rent theirs. An established brand can serve as a competitive advantage to its company than those start-up’s. 4) Loyalty also can translate into customer willingness to pay a higher price often 20 percent to 25 percent more than competing brands.
- How do you “brand” a product? Although firms provide the impetus to brand creation through marketing programs and other activities, ultimately a brand resides in the minds of consumers. It is a perceptual entity rooted in reality but reflecting the perceptions and idiosyncrasies of consumers. Branding is endowing products and services with the power of a brand. It’s all about creating differences between products. Marketers need to teach consumers “who” the product is—by giving it a name and other brand elements to identify it—as well as what the product does and why consumers should care. Branding creates mental structures that help consumers organize their knowledge about products and services in a way that clarifies their decision making and, in the process, provides value to the firm.
- Larger margins – yes, but not high growth – Ceelin and Enervon have flat growth
- Inelastic – Orient buko pie Trade cooperation – price increase of big brands like Nutroplex, Growee, Lifezar (losartan) – antihypertension (Innovator: Cozaar – not in the Phil mkt) – price protection (as trade cooperation) Mktg Communications Effectiveness – Enervon Prime – against Sarcopenia (muscles) – but now the message is for Whole health – balik sigla, balik saya – effective Licensing – trademarks, patents, etc
- Customer-based approaches view it from the perspective of the consumer—either an individual or an organization— and recognize that the power of a brand lies in what customers have seen, read, heard, learned, thought, and felt about the brand over time. Customer-based brand equity is thus the differential effect brand knowledge has on consumer response to the marketing of that brand. A brand has positive customer-based brand equity when consumers react more favorably to a product and the way it is marketed when the brand is identified, than when it is not identified. A brand has negative customer-based brand equity if consumers react less favorably to marketing activity for the brand under the same circumstances. There are three key ingredients of customer-based brand equity.
- Every brand makes a promise to its customers. The promise is expressed in the brand’s promotional work but must be delivered when the product is used.
- Brand elements are devices, which can be trademarked, that identify and differentiate the brand. Most strong brands employ multiple brand elements. Nike has the distinctive “swoosh” logo, the empowering “Just Do It” slogan, and the “Nike” name from the Greek winged goddess of victory. We Try Harder – AVIS; Zoom-zoom – MAZDA; I’m lovin’ it – McDonalds; Imagination at Work – GE; This bud’s for you – Budweiser; We’ve got… - SM;
- Based on its name alone, for instance, a consumer might expect SnackWell’s products to be healthful snack foods and Panasonic Toughbook laptop computers to be durable and reliable. Marketers should choose brand elements to build as much brand equity as possible. The test is what consumers would think or feel about the product if the brand element were all they knew.
- There are six criteria for choosing brand elements. The first three memorable, meaningful, and likable—are “brand building.” The latter three—transferable, adaptable, and protectable—are “defensive” and help leverage and preserve brand equity against challenges. These criteria can be assessed with the following questions: MEMORABLE: How easily do consumers recall and recognize the brand element, and when—at both purchase and consumption? MEANINGFUL: Is the brand element credible? Does it suggest the corresponding category and a product ingredient or the type of person who might use the brand? LIKEABLE: How aesthetically appealing is the brand element? TRANSFERABLE: Can the brand element introduce new products in the same or different categories? How adaptable and updatable is the brand element? How legally protectable is the brand element? How competitively protectable?
- The third and final way to build brand equity is, in effect, to “borrow” it. That is, create brand equity by linking the brand to other information in memory that conveys meaning to consumers as shown in the Figure. Disney - Imagery can create rich brand associations, just think of all the images that come to mind when you think about brands like Disney, Apple or Coca-Cola. There can be symbols, not just logos but symbols like people (Steve Jobs, Richard Branson), things like the Coke bottle, Trump Tower or Mickey Mouse ears. There can be associations with a time of year, or an occasion. Is it for summer, winter, a certain holiday? What kind of people do we think use the brand? There is brand personality: If you think of the brand as a person, what kind of person would it be. What is people’s relationship with the brand like? Does it have the feel of a respected leader or a trusted friend? We need to be conscious of the brand associations we build, because they have a tremendous effect on whether people will notice it, like it, trust it and ultimately buy from us. What do you want people to think and feel when they see your business, product or service? These “secondary” brand associations can link the brand to sources, such as the company itself (through branding strategies), to countries or other geographical regions (through identification of product origin), and to channels of distribution (through channel strategy); as well as to other brands (through ingredient or co-branding), characters (through licensing), spokespeople (through endorsements), sporting or cultural events (through sponsorship), or some other third party sources (through awards or reviews).
- Marketers must now “walk the talk” to deliver the brand promise. They must adopt an internal perspective to be sure employees and marketing partners appreciate and understand basic branding notions and how they can help—or hurt—brand equity. Internal branding consists of activities and processes that help inform and inspire employees. Brand bonding occurs when customers experience the company as delivering on its brand promise. All the customers’ contacts with company employees and communications must be positive. The brand promise will not be delivered unless everyone in the company lives the brand. 1. Choose the right moment. Turning points are ideal opportunities to capture employees’ attention and imagination. 2. Link internal and external marketing. Internal and external messages must match. use of Internet technology. 3. Bring the brand alive for employees. Internal communications should be informative and energizing.
- Brand equity is a critical part of building a business, and companies that successfully build one understand just how important it is to the bottom line Having a strong brand equity is intangible & provides several real business benefits like expansion opportunities and increased margins as it will ensure a good reliable customer base.
- Brand equity is a critical part of building a business, and companies that successfully build one understand just how important it is to the bottom line Having a strong brand equity is intangible & provides several real business benefits like expansion opportunities and increased margins as it will ensure a good reliable customer base.
- The modern bite
- The commercial value that derives from consumer perception of the brand name of a particular product or service, rather than from the product or service itself.
- http://businessjargons.com/brand-portfolio.html
- Cash Cow Brand: A cash cow brand is that product in the brand portfolio that has reached the maturity level in the product life cycle but is able to bring in profits necessary for its survival. Read more: http://businessjargons.com/brand-portfolio.html#ixzz4K7hlLxvc A Flanker Brand also known as a Fighter Brand is a new product launched in a market by the company in the same category wherein an established brand is already positioned. This is primarily done for the increased market share as well as to cater to the need of all the segments of customers.e.g. Armani’s brand portfolio is one of the best examples to explain the concept of a flanker brand. In it, the brands are distinguished on the basis of price and customer segment. Read more: http://businessjargons.com/brand-portfolio.html#ixzz4K7hcvBmh Low-End Entry Level Brand: A low Entry Brand in a brand portfolio includes the product which is offered at less price. The low priced product is added to the portfolio to ensure the purchase at least once and bring the customer into the brand family. Once the customer becomes a part of the family, he is then persuaded for the purchase of the higher priced product in near future Read more: http://businessjargons.com/brand-portfolio.html#ixzz4K7hrB0EZ High-End Prestige Brand: A High-End Prestige Brand in the brand portfolio is the product offered at a high price with the intention of creating a sense of prestige in the minds of customers. Other brands in the portfolio also get the recognition because of the premium brand and its quality do have a halo effect on each product line. Read more: http://businessjargons.com/brand-portfolio.html#ixzz4K7hwFecG http://www.business2community.com/branding/begnners-guide-brand-portfolio-management-01034465#rRVkgrfIDDzWZmLj.97 http://businessjargons.com/brand-portfolio.html Thus, a firm tries to have all the different brands operating independently under its periphery to protect the sources of equity by not letting customers move away due to the unavailability of their desired product. Read more: http://businessjargons.com/brand-portfolio.html#ixzz4K7pKZgEX http://www.forbes.com/companies/giorgio-armani/ https://www.fashionunited.co.uk/fashion-news/fashion/armani-to-enter-the-fast-fashion-game-with-ax-armani-exchange-2014051621121 http://www.business2community.com/branding/begnners-guide-brand-portfolio-management-01034465#rRVkgrfIDDzWZmLj.97
- To build a strong brand and avoid the commodity trap, marketers must start with the belief that you can differentiate anything. Competitive advantage is a company’s ability to perform in one or more ways that competitors cannot or will not match. Few competitive advantages are sustainable. At best, they may be leverageable. A leverageable advantage is one that a company can use as a springboard to new advantages, Progressive gained a competitive advantage in the mid-1990s when it became one of the first auto insurance companies to sell direct to consumers via the Internet. The company’s early adoption of technology enabled it to offer a unique service: In addition to providing free online quotes for its own policies, Progressive also provided quotes from up to three competitors.
- In competitive markets, however, firms may need to consider dimensions they can use to differentiate market offerings. Companies can have better-trained employees who provide superior customer service. Companies can more effectively and efficiently design their distribution channels’ coverage, expertise, and performance to make buying the product easier and more enjoyable and rewarding. Companies can craft powerful, compelling images that appeal to consumers’ social and psychological needs. A service company can differentiate itself by designing a better and faster delivery system that provides more effective and efficient solutions to consumers. There are three levels of differentiation. The first is reliability: Some suppliers are more reliable in their on-time delivery, order completeness, and order-cycle time. The second is resilience: Some suppliers are better at handling emergencies, product recalls, and inquiries. The third is innovativeness: Some suppliers create better information systems, introduce bar coding and mixed pallets, and in other ways help the customer.
- Example of new customer facing messaging
- From WPS Corporate Capabilities ppt on InsideEcolab More customer centric than previous versions that focused on our capabilities – less technical, more customer friendly Includes proof points – same elements as previous slide Example is high level corp capabilities Challenge at this “altitude”: our competitors may say this – so is this differentiated? Challenge audience: can you do this for a particular industry or offering?
- Largest market share, position as incumbent supplier, first choice of customers in new product introductions, high market credibility- seen as ultimate resource, position to dictate pricing and market direction
- Extend Total Market Demand- New Customers Attract Buyers who are unaware of the products and or resisting it because of price or lack of certain features More Usage- sometimes boost the amount through packaging or product redesign
- How to actively defend current business? Continuous innovation…the front runner should continue to lead the industry in developing new products, customer services, distribution effectiveness and cost cutting.
- Bypass attack- Pepsi used bypass strategy against Coke by acquiring Tropicana and Minute Maid Guerilla Attack- with low cost unconventional means e.g. graffiti, flash mobs, sticker bombings) are utilized more often in a localized fashion or large network to convey or promote a product.