Building Great Brands Final

Types of Category Extensions

"Close In" extensions vs slightly longer extensions

Reduce Risk perceived by customers

"I know what the parent brand is all about; this new product will deliver" "I know this brand, so this will be of acceptable quality"

Measuring Sense of Community

"Social currency" is a way to measure brand community.

Understanding the "____" is the holy grail of consumer research

"Why"

What is the annual average spent per American online shopper?

$1,804

Cost to launch a new supermarket product in the US with a new brand

$30-50 M

Cost to launch a new supermarket product in the US with a brand extension

$6-40 M

What was the value of e-commerce in the US in 2020?

$709 billion

Without execution, _____ is just another word for hallucination

'vision'

Critique of Brand Element Options

(see slide 87 Class 11)

Downward pressure on prices

- As search costs for information become lower, consumers can compare prices more easily:

brand personality and values

- Brands may take on personality traits or human values through: marketing communications, consumer experiences, brand characters/ spokesperson - Once a strong personality has been established, it's difficult for consumers to accept information inconsistent with it.

Packaging Aspects to Keep in Mind

- Consumers have a color vocabulary for certain products - Some brand own colors, others in the category should stay away

Naming Procedures

- Define objectives - Generate names - Screen initial candidates - Study candidate names - Research the final candidates - Select the final name

to add breadth, a brand should

- IDENTIFY ADDITIONAL OR NEW USAGE OPPORTUNITIES -IDENTIFY NEW/DIFFERENT WAYS TO USE THE BRAND

Marketers now have the ability to use information gathered from customers' online behavior to tailor their offerings to customer needs.

-Information regarding the number of unique visitors to a brand's Web site -Clickstream data on users' browsing behaviors on companies' Web pages -Click-through rates on ads -ROI for every piece of communication •match viewership with purchases made with shopper loyalty cards to see if the ad led to a purchase

Marketer's New Capabilities

-Operate a new sales channel with wider geographical reach -Collect fuller and richer information on markets, customers, etc. -Facilitate 2-way communication and send ads to those granting permission -Customize offerings -Improve purchasing, recruiting, training and external, communications

6 key digital era trends affecting branding

-Personalized Branding -Expanded Consumer Journey -Growth of online retailing -New advertising channels -Less control of your brand -Focus on engagement

Retailers have their own brand images in consumers' minds due to the following associations

-Product assortment -Pricing and credit policy -Quality of service -Store Atmosphere

Leveraging

-Promotional spending -Aggressive Discounting -Tactics to chase share : inappropriate distribution, pantry loading =Cuts to save the short term bottom line

Cybersquatting or Domain squatting

-Registering, trafficking in, or using a domain name with bad-faith to profit from the goodwill of a trademark belonging to someone else

Price Segmentation

-Sets and adjusts prices for appropriate market segments (e.g. Orbitz having higher prices for Mac users vs PC users) -Increasing use of dynamic pricing: the ultimate price segmentation model

messaging services

-Short messaging service (S M S) and multimedia messaging service (M M S) Offer customers unique offers based on time and location

Sports, Arts, and Entertainment

-Sports marketing has become highly sophisticated -Branding plays, for example, has become an especially valuable function in the arts -Movies have become famous for their marketing and branding

Social Media Listening/Monitoring Dashboard

-Summary of key statistics associated with a brand -May include: •Number of engagements of brand messages across various social media platforms •Sentiment associated with social media messages •Topics that are related to a brand •Lists of keywords that are associated with a brand

1. Attracting a New Market Segment

EX. Nike figured the best way into the dressier shoe category would be to buy an existing brand rather than introduce a "non-athletic" Nike shoe.

"Buzz Marketing"

Earned media, or earned content, is any material written about your brand that is generated by those unaffiliated with the brand. Includes : PR, Viral Marketing, Influencer Marketing

depth of awareness

Ease with which brand elements can be recalled.

Benefits of Logos

Easily recognized, Versatile, Can fit in more places, Adaptable over time, Can spawn other symbols

Advantages of global marketing programs

Economies of scale in production & distribution Lower marketing costs Power and scope Consistency in brand image Ability to leverage good ideas quickly & efficiently Uniformity of marketing practices

Effectiveness

Effectiveness is simply how well did it work •Were the results achieved?

Efficiency

Efficiency is "bang for your buck" •Cost per thousand eyeballs, cost per click, cost per lead, ROI, etc.

brand responses

Elicit the proper customer responses to the brand.

5 fields of fundamental human values

Eliciting Joy Enabling Connection Inspiring Exploration Evoking Pride Impacting Society

Message Characteristics

Emotive and relevant messages drive more engagement.

Indirect Channels: Channel Support

Establishing "marketing partnerships" with key retailers is critical •New technologies •Exclusive deals and offers •Not undercutting through direct channels

search goods

Evaluate product attributes by visual inspection ex. bananas

4. Cannibalize Sales

Even if a new brand extension succeeds, perhaps TOO much of its success comes at the expense of other brands in the portfolio, thus rendering not much of a net gain for the additional resources invested

5. Diminish Identification with any one category

Even if a new brand extension succeeds, perhaps it muddles the parent brand's brand meaning

7. Event Sponsorship

Events have their own set of associations -May become linked to a sponsoring brand under certain conditions Contribute to brand equity by -Becoming associated to the brand and improving brand awareness -Adding new associations -Improving the strength, favorability, and uniqueness of existing associations

Consumer Mindset

Everything that exists in the minds of customers with respect to brand: thoughts, feelings, experiences, images, perceptions, beliefs, and attitudes. The 5A's of the consumer mindset •Awareness •Associations •Attitudes •Attachment •Activity

Corporate Image Dimensions

Evoke Associations - based on attributes, benefits or attitudes People and Relationships Values and Programs Corporate Credibility

Strengthen Brand Awareness

Expand the depth and breadth of brand awareness by improving consumer recall and recognition of the brand during purchase or consumption setting.

The Biggest Trend of the 21st Century

Expectation of a Custom Experience

Personalized Marketing Approaches

Experiential Marketing Mass Customization One to One Marketing Customized Pricing Permission-based Marketing

Vertical Extension

Extends a brand up into more premium market segments or down into more value-conscious segments

greater loyalty

Familiarity with a brand increases consumer confidence and purchase intention and mitigates the negative impact of a single poor experience

Investor Sentiment

Financial analysts and investors arrive at their brand valuations and investment decisions through the following: •Market dynamics: market as a whole •Growth potential: for both the brand and its industry •Risk profile •Brand contribution: how important is that brand to the firm's portfolio

Brand Positioning Statement

For [Target Market] [Brand] is the [personality adjective] [frame of reference] that [Brand Promise] Because [reason why/RTBs]

Advantages of Extensions

For most firms, the question is not whether to extend the brand, but when, where, and how to extend it Two big advantages: 1.Facilitate new-product acceptance 2.Provide feedback benefits to a parent brand

Why focus on global markets?

Forces that have encouraged many firms to market their brands internationally: -Perception of slow growth and increased competition in domestic markets -Belief in enhanced overseas growth and profit opportunities -Desire to reduce costs from economies of scale -Need to diversify risk -Recognition of global mobility of customers

points of difference

Formally defined as attributes or benefits that consumers strongly associate with a brand ex. performance attributes, performance benefits, imagery associations

Disadvantages of global marketing programs

Frequent, between countries, there are differences in: Consumer needs, wants & usage patterns Consumer Response to Branding Elements Consumer responses to Marketing Mix Elements Brand & Product Development/Competitive Environment Legal Environment Marketing Institutions

3. by tapping into universal motivations, you can create brand distinctiveness

Functional features can be copied, but brands that tap into a universal motivation can make a brand promise with staying power

reduce risk

Functional, physical, financial, and time

provide valuable business functions

Fundamentally, they serve an identification purpose to simplify product handling and tracing. Operationally, they help organizing inventory and accounting records. Legally, they provide protection for unique features or aspects of the product

behavioral loyalty

Gauged in terms: -of repeat purchases -share of category volume attributed to the brand

brand linkage

Gives a product an identity by linking brand elements (i.e. logo, brand name, symbol, spokesperson, color, etc.) to: •The product category in which the brand competes (when I say Orange Juice, you say...) •Which of their needs are satisfied

Social Approval

Gives consumers a belief that others look favorably on their appearance and behavior.

Third Party Seal of Approval Ex.

Good Housekeeping ADA Accepted Rotten Tomatoes etc.

b. enhance the parent brand image

Good extensions can: •strengthen an existing brand association •improve favorability of an existing association •add a power new association •or a combination of these. Overtime, extensions can broaden brand judgments and feelings, and improve brand credibility.

Conditions for creating a global brand

HALF of the brand revenue is coming from outside the home market MOST of the growth is coming from outside the home market

Developing a Brand Architecture Strategy

Helps marketers determine which products and services to introduce Which brand names, logos, symbols, etc. to apply to new and existing products

Consumers are attracted to a brand for several reasons

Helps me get a job done (every purchase satisfies a need) Makes me feel a certain way (strong brands command a premium price because they provide more than pure function) Reflects my desired self-image (Some brands even serve as badges and/or boost a user's esteem)

Brand history, heritage, experiences

Heritage and History - Brands may take on associations to their past -Certain noteworthy events in the brand's history -Includes brand provenance issues such as the company/person who makes the product and the country in which it was made Brand experiences -Past sponsored events -The buying experience -Cause marketing

Corporate Image Dimensions: Common Product Attributes, Benefits, or Attitudes

High-quality corporate image association: Creates consumer perceptions that a company makes products of the highest quality Innovative corporate image association: Creates consumer perceptions of a company as developing new and unique marketing programs, especially with respect to product introductions or improvements

Tools for Customization

High-quality data can assist marketers to personalize messaging if the firm's structure allows for it

Corporate/Company Brand

Highest level of hierarchy -Consumer associations to the company or corporation making the product or providing the service -Relevant when the corporate or company brand plays a prominent role in the branding strategy •In some cases, the corporate brand is almost the only brand

Sense of Community

How much do you share information about the brand in your social lives?

associations affect existing brand knowledge

How much it affects depends on: 1.Awareness and knowledge of the entity (Have they heard of the secondary entity?) 2.Meaningfulness of the knowledge of the entity (What do they know of the entity?) 3.Transferability of the knowledge of the entity (How does it matter here?)

consideration

How personally relevant customers find the brand. •Unless a consumer gives serious consideration to purchase, how highly they regard the brand is of little importance •Depends on the extent to which strong & favorable brand associations can be created

Transferability

How useful is the element for line or category extensions? Can it travel across geographies?

Active Engagement

How willing are you to invest your own resources (time, energy, money) beyond the time and money spent purchasing and using the brand?

Reinforcing brands built on product-related associations

INNOVATION IS KEY... ...for brands whose core associations are primarily product-related performance attributes or benefits, innovation in product design, manufacturing, and merchandising •high tech, toys, personal care, insurance, entertainment

Designing slogans

Ideally designed so they contribute to brand equity in multiple ways: •reinforce brand name, outline benefits, build image Tricks for memorability: 1.Brand name part of tagline 2.Alliteration, rhyme or meter 3. Simplicity

6. Succeed, yet still hurt the parent brand image

If customers see a brand extension as inconsistent or conflicting with the parent brand customers may change their perceptions of the parent brand

Brands that are part of capitalist corporations are in the business of turning a profit. Any claim to the contrary is phony. BUT

If some social good can also be done along the way (even if the motive is driven by business objectives) is there harm?

Bolster Brand image

Improve the strength, favorability and uniqueness of the brand associations that make up the brand image directed at either new or existing associations.

Benefits of a Clear Brands Architecture Strategy

Improves consumer understanding by helping to communicate similarity and differences between individual products and services, thus clarifying and strengthening Brand Awareness. Maximizes transfer of equity between the brand and the individual products to improve trial and repeat purchase, thus improving Brand Image (not to mention sales).

Revitalizing a brand by improving brand image

Improving a brand image is harder than building more awareness. Marketers need to -bolster faded positive associations -neutralize negatives -and/or create additional positives.

Consumer-generated brand meaning

In the digital age, consumer-to-consumer conversations are enabled through social media platforms—such as Facebook and Twitter—that supplement traditional offline word-of-mouth. These conversations taking place on various digital platforms on a large-scale can significantly shape brand meaning.

Mental Availability

a brand's ability to be recalled when the category need arises a.k.a. salience

Brand

a name, term, symbol, design, or combination thereof that identifies a seller's products and differentiates them from competitors' products how the company/good/service/etc. is perceived by the world a persons gut feeling about a product, service, or organization

brand personality

a set of human characteristics associated with a brand name, could reflect the personality of the typical user or someone closely associated with the brand

A brand equity measurement system is:

a set of research procedures designed to provide marketers with timely, accurate, and actionable information about brands so they can make the best possible tactical decisions in the short run and strategic decisions in the long run

11. An unsuccessful extension hurts the parent brand only when there is ________

a strong basis of fit between the two

Choice advantages that awareness brings

a. Offsets a Lack of Purchase Motivation b. Offsets an Ill-Equipped Consumer's Ability to Judge their Purchase c. Offsets a Consumer's Lack of Opportunity to Engage in Deliberate Evaluation

Viral Marketing

a.k.a. Word of Mouth or Word of Mouse When marketers create exceptional programs that offer consumers superior delivery of benefits, consumers may talk about the brand and amplify the marketing effects. Media outlets may pick up the story as well, further amplifying the buzz. Most common forms of Viral Marketing •Shares •UGC •Reviews and recommendations

Types of messaging

advertising promotion and shopper marketing direct marketing buzz marketing content marketing

ideas worth advertising, not...

advertising ideas

competitive points-of-parity

associations designed to negate competitors' points-of-difference

laddering to a brand promise

attribute/feature, functional benefit, consumer benefit, emotional benefit, social benefit

brand associations are composed of

attributes and benefits

Refreshing old sources of brand equity

back to basics retro branding

12. An unsuccessful extension does not prevent a firm from ___________________

backtracking and introducing a more similar extension

generic product level

basic version of the product containing only those attributes or characteristics absolutely necessary for its functioning but with no distinguishing features

Four categories of brand resonance

behavioral loyalty, attitudinal loyalty, sense of community, active engagement

Brand Mistakes...

blow up quicker

3 components of a good brand mantra

brand function, descriptive modifier, emotional modifier

components of a brand

brand identity, brand associations, brand image, brand personality, brand equity

the brand resonance model

brand identity, brand meaning, brand responses, brand relationships

Purpose led brand model

brand wheel

satisfy higher needs or orders

brands can allow consumers to project their self-image and reinforce self-worth

four higher order needs that drive all purchases

bring structure to things vs. bring change to things connect with others vs. personal fufillment

PRINT is no longer the powerhouse it was, but...

can be used as supplemental media for reach that digital only may not offer

Many to Many Communication

consumers have become broadcasters in conversation with each other (many-to-many communications), as well as becoming engaged in a two-way dialogue with brand marketers.

VIDEO remains a brand builder's most powerful ally to...

create imagery

When it comes of efficacy, _______ is your most powerful weapon

creativity

Perceived quality can be based entirely on ________, not _________

cues and beliefs, reality •brand reputation •color •scent

Enhancing PODs with RTBs (Reasons to Believe)

defined PODs in terms of benefits: functional design concerns key ingredients key endorsement

Types of Consumer Segments

demographic, psychographic, geographic, behavioral

5. A brand that consumers see as prototypical for a product category can be ________________

difficult to extend outside the category

Advertisers spend more on ________ than all others combined

digital media

9. It can be difficult to extend into a product class that consumers see as __________

easy to make

information search and alternative evaluation

education and product detail (website)

The power of _________ allows your brand to travel across more than one demographic even if they are CLEARLY targeted to a certain age

emotional branding

brand feelings

emotional responses and reactions to the brand warmth, fun, entertainment, security, social approval, self respect

10. A successful extension can not only contribute to the parent brand image but also _________

enable a brand to extend even farther

post purchase use and evaluation

facilitate sharing (social)

1.Successful brand extensions occur when the parent brand has ______, and consumers ______

favorable associations, perceive a fit between the parent brand and the extension product

Core Benefit Level

fundamental need or want that consumers satisfy by consuming the product or service

Quantitative Techniques may be used for ___, or ___

general brand research •Usage and Attitude Studies •Consumer Segmentation Studies •Brand Image Studies Or to assess a part of the marketing mix •Packaging Changes •Advertising Copy

After the audit...

good time to re-examine brand positioning/promise

14. Both similar and dissimilar brands can partner successfully in a co-branded extension to achieve ___________

greater synergies

Physical Availability

how easy is it for a consumers to find and buy the brand

brand performance

how well the product or service meets customers' functional needs

what makes a good segment?

identifiability, size, accessibility, responsiveness

augmented product level

includes additional product attributes, benefits, or related services that distinguish the product from competitors

potential product level

includes all the augmentations and transformations that a product might ultimately undergo in the future

purchase

influence a shopper (cart ad)

16. The most effective advertising strategy for an extension is one that emphasizes _________

information about the extension (vs reminders about the parent brand)

what is brand management

involves enhancing "gut feelings" and "perceptions", an attempt to create an aura of superior performance, an attractive identity, a favorable image and a desirable personality

One-to-One Marketing

involves quid pro quo •Consumers help add value by providing information to marketers •Marketers add value by generating rewarding experiences based on that information ex. Shopper loyalty cards: •discounts for the consumer •data for the brand Retargeting ads Customized Ads Ads constructed specifically to match your interests as shown online

criteria in selecting a brand's points of difference

is it: desirable to the consumer, deliverable by the company, differentiating relative to competitors

purpose is there to...

make the brand more appealing to its audience, create value for the consumer, and improve the standing of the brand. In doing so, it can: •Inspire innovation and positive change, •Provide employees with a sense of meaning and fulfilment, •Impact communities and •Improve the health of our planet and society for the benefit of our future and future generations

Pre-need awareness

mass media (TV)

mobile marketing options

messaging services in-app advertising Proximity systems marketing, or geo-fencing

6.Concrete attribute associations tend to be _______________ than abstract benefit associations

more difficult to extend

A regionalization strategy can make a brand

more relevant and appealing to an individual

category points-of-parity

necessary conditions for brand choice

8. Consumers may infer _________ associations about an extension, perhaps even based on other inferred positive associations

negative

The key of viral marketing is to develop content that is...

of exceptional enough quality to make it worthy of consumers sharing it

In America, wealth and spending power reside in...

older generations •Baby Boomers control 50% of American spending power and 53% of American wealth •Baby Boomers are still reachable through traditional media: easier to get reach •Ignoring older segments in the quest for Youth leaves a lot on the table

•An existing brand that gives birth to a brand extension is the _________

parent brand

The importance of Why

people dont buy what you do they buy why you do it

Rapid expansion of the Internet and continued fragmentation of mass media have brought the need for ______________

personalized marketing

7. Consumers may transfer associations that are _______ in the original product class but become _________ in the extension context

positive, negative

correlational points-of-parity

potential negative associations that arise from the existence of other, more positive associations for the brand(e.g. low calorie likely means sub-par taste)

types of content marketing

product placement branded events & experiences sponsorships branded utility publicity

2. There are many bases of fit; both _______ and ________ attributes and benefits may influence extension fit

product-related, nonproduct-related

a brand lives and breathes with _______ as its main focus

profitability

Brand Tracking studies

provide consistent baseline information by collecting information from consumers (usually quantitatively): -on a routine basis (in order to gauge how much/little things are moving) -on a number of key dimensions Helps determine how well the brand is delivering its brand promise and achieving its desired positioning, and how that is changing over time.

creating new sources of brand equity

re-invention

product differentiation

real or imagined differences between competing products in the same industry

Archetypes

reflect deep fundamental human motivations.

How to create awareness

repetition and reinforcement

Brand Resonance Pyramid

salience | performance, imagery | judgements feelings | resonance

Spoofing

scam artists setting up fraudulent sites with similar domain names

behavioral differences between segments can often serve as the rationale for...

separate branding and marketing programs The decision ultimately rests on the costs and benefits of customized marketing efforts versus those of a less targeted focus

what do brands do

serves as a package of benefits, both rational and emotional, that provide a shortcut to decision making

expected product level

set of attributes or characteristics that buyers normally expect and agree to when they purchase a product

Brand Equity Management Systems

set of organizational processes designed to improve the understanding and use of the brand equity concept within a firm •Brand tracking studies and brand audits, can provide a huge reservoir of information; firms need proper internal procedures to capitalize that information •Helps prevent reliance on short term thinking by brand managers who milk the brand for short term gain and move on •Serves as a defacto Brand Management License

When a consumer is "engaged"...

she is willing to invest time, energy, money, or other resources in the brand beyond purchase

importance of establishing category membership

should telegraph to consumers the goals they may achieve my consuming the product -Consumers need to know what you do -New brands often have to spend resources simply to establish membership before they start promoting how they differ -brands may want consumers to also understand what it is NOT

Brick and Mortar Stores becoming

showrooms

Brands that leverage HUMAN truths and go beyond simple functionality can _______

span multiple generations even when clearly targeting a specific group Feel-good "slice of life" advertising can be a particularly attractive method here

The key is to ensure there's a link between the elements BOTH...

strategically and from an execution standpoint. •The same person will likely need more than one message as they travel along their journey •The brand meaning, image and personality should remain constant, even if it gets flexed a few ways.

4. High-quality brands __________ than average-quality brands, although both types have boundaries

stretch farther

•When a new brand is combined with an existing brand, the brand extension can also be a ________

sub-brand

15. Vertical extensions can be difficult and often require ________-

sub-brand strategies

Recovery requires two main things:

swiftness and sincerity.

need recognition

targeted media (cable, OLV)

3. "Fit" between an extension and its parent can come based on __________ or ___________ commonalities, or on surface considerations such as _______ or ________

technical or manufacturing , necessary or situational complementarity

Types of Advertising

television/video, radio/audio, out of home, print, digital: display

brand equity

the added shareholder value uniquely attributed to the brand, the difference endowed to products and services thanks to the power of the brand, a combination of how the brand has added meaningfulness, distinctiveness and salience to the brand

The end goal is to grow the brand...

the by-product is change for the better

Branding Today

the data-driven era the mass personalization era the do good era the ROI Era

brand associations

the factors that build the perceptions that make up a brand 1. Product Quality 2. Product Relevance 3. Product Differentiation 4. Pricing 5. Distribution 6. Promotion 7. Secondary Associations

an authentic brand promise is...

the highest order benefit your brand can deliver A LIFE-IMPROVING IDEAL

Modern economy celebrates the power of....

the individual consumer

Effectiveness is largely driven by...

the messaging •Was it the right message for the right person delivered at the right and right place? •Did it move the needle as intended?

13. A co-branded brand extension can leverage ______________

the success and equity of two brands

A purpose-led positioning model needs...

to have a "why" at the center

attributes of a good positioning statement

today and tomorrow, consumer-focused, head and heart

Personalization Involves some __________

upfront work

a brand extension occurs when a firm...

uses an established brand name to introduce a new product

qualitative research conducted as part of the brand exploratory should

vary in direction and depth as well as in technique.

Secondary Brand Associations

when the brand is linked to other entities that have their own knowledge structures in the minds of consumers. Because of this linkage consumers may assume or infer that some of the associations that characterize the other entities may also be true for the brand. Those associations should complement and add to the desired brand positioning •If not, they shouldn't be leveraged •If they are too strong to ignore, your brand positioning should be reconsidered

Consumer based research is extremely helpful when -

when trying to codify and define a brand's meaning or promise. Great brands will go beyond rational usage statistics and rigid System 2 surveys to try to unearth a richer understanding of both conscious and unconscious feelings and emotions consumers have for a brand.

Ex Questions we're trying to answer in the brand exploratory

who buys our product or service? who makes the decision to buy the product? influences it? what does the customer buy? what needs must be satisfied? where do they buy? when do they buy? etc.

secondary associations

who makes it? where is it from?

Were there no commercial value in brand purpose, most brands...

wouldnt

Can anything be branded?

yes

possible brand extension opportunities

•A brand extension occurs when a firm uses an established brand name to enter a new market •A line extension uses a current brand name to enter a new market segment in the existing product class with, say, new varieties, flavors or sizes •Well-known, well-regarded brands can stretch more (though a poor extension can negatively impact brand equity) •Brands that extended successfully in other categories can more easily and efficiently extend more, and will more likely get a positive stock price boost when the extension is announced

Protecting a brand's URL

•A company needs to protect their brands from unauthorized use in other domain names: •Company can: -Sue current owner of the URL for copyright infringement -Buy the name from the current owner -Register all conceivable variations of its brand as domain names ahead of time

defining the competitive set

•A competitive analysis helps marketers choose markets for their own products or services •It considers an array of factors: -Resources -Capabilities -Likely intentions of various other firms

2. Geography

•A country of geographic location from which a product originates may -Become linked to the brand -May generate secondary associations •Consumers choose brands originating in different countries based on: -Their beliefs about the quality of certain types of products from certain countries -The image that these brands or products communicate

Brand Substitution Research

•A piece of marketing (e.g. an ad campaign) is rebranded with a fictious brand or the category leading brand •Results are compared vs those branded with the intended brand

possible licensing opportunities

•A strong brand has associations that may be desirable in other product categories •A firm may choose to capitalize on this value and license its name, logo or other trademark item to another company for use on its products and merchandise in return for a royalty fee •The licensee will pay this knowing they can probably charge more for the product

Brand Hierarchies

•A useful means of graphically portraying a firm's branding strategy by displaying the number and nature of common and distinctive brand elements across a firm's products •Based on the realization that we can brand a product in different ways depending on how many new and existing brand elements we use and how we combine them for any one product.

mobile marketing

•About a $100B in US spend in 2020 •Helpful in sending timely, location-based messages to customers at the right time and place •Can help shoppers with timely promotions and discounts •Can customize to geography, to daypart

OLV cons

•Ad skipping: need to front load your message to ensure a brand registration as most ads are skipped at 6 seconds •Often consumed with sound off - can your video carry the message? •Placement can be poor

Advertising

•Advertising is any paid form of nonpersonal presentation and promotion of ideas, goods, or services by an identified sponsor •Powerful means of creating strong, favorable, and unique brand associations and eliciting positive judgments and feelings •Can educate, entertain and excite as it shapes perceptions and persuades trial

Social Media: Twitter

•Allows direct communication between customer service and customers and shows a brand's personality •Good for resolving customer service issues •Can even be used for instant ordering

Social Media: Pinterest

•Allows for sharing and posting of pictures featuring different brands •Particularly conducive to marketing of certain brands that rely on visual imagery •Easy-to-create "Buy it" pins •Strong female skew

Global Communications Strategy

•Although brand positioning may be the same in different countries, creative strategies in advertising may have to differ to some degree. •Each country has its own unique media challenges and opportunities. •Marketers can execute sponsorship in a global basis. Entertainment and sports sponsorships can be an especially effective way to reach a younger audience

influencer marketing pro

•Appears less like "an ad" and more like a recommendation or endorsement from a trusted source

Measuring Brand Image

•Associations that consumers hold for a brand •Useful for marketers to make a distinction between: -Lower-level considerations (performance and imagery) Higher-level considerations (judgments and feelings)

purchase usage imagery

•Associations that tell consumers under what conditions or situations they can or should buy and use the brand. •Associations to a typical usage situation can relate to the time to use the brand, location, where to buy and type of activity during which to use the brand.

Product Strategy

•At the heart of a great brand is invariably a great (suite of) product(s). •It has to be RELEVANT: needs to fully satisfy consumer needs and wants to succeed •It has to be DIFFERENT: it needs a POD to survive in the competitive marketplace •It has to be QUALITY: the consumer's experience with the product must meet or exceed expectations

5. High End/Prestige

•Attempts to add cache and credibility to the entire portfolio •Raises the quality perceptions of the entire brand

4. Low End/Entry Level

•Attempts to bring customers to the brand franchise •Retailers stock these as a traffic builder, and the hopes they can trade consumers up

Pros of Using Characters

•Attention getting; can break through marketplace clutter and create brand awareness •Can help communicate a key product benefit •Enhance likeability •Help make the brand more fun and interesting •Offers a literal face to the brand with whom consumers can form a relationship •Do not typically have direct product meaning, so can be transferred across product categories

Digital display pros

•Banners: high-reach ideal for building awareness; can be highly-targeted •Can direct interested parties to additional information immediately by encouraging clicks •Real time measurability •Can be easily tested in real time •Relatively inexpensive to make

Brand Boundaries

•Based on the brand vision and positioning, identifying the products or services the brand SHOULD offer, the benefits it should supply, and the needs it should satisfy •Broad brand: One with an abstract positioning that is able to support a higher-order promise relevant in multiple product settings. •It has a transferable point-of-difference.

Out of Home Cons

•Better for enhancing awareness or reinforcing brand associations than at creating new ones •Limited copy

Co-branding pros

•Borrow needed expertise •Leverage equity you don't have •Reduce cost of product introduction •Expand brand meaning into related categories •Broaden meaning •Increase access points •Source of additional revenue

What to track?

•Brand awareness: top-of-mind, unaided, aided •Brand usage •Recognition of key brand elements •Brand imagery •Benefit associations (to help measure PODs and POPs) •Brand feelings and judgments •Brand resonance •May want to track corporation or family brand separately from or concurrently with individual products

Sub-Brands

•Brand extension in which the new product carries both the parent brand name and a new name •Signals to consumers they should expect similarities AND differences in the new product •Should be adopted ONLY when there is a distinctive, complementary benefit

Sponsorships

•Brand helps fund an event in return for branding exposure and some transfer of the imagery and goodwill of the event itself (and perhaps other perks like sampling opportunities, seats for VIPs, etc) •$70 Billion spent in 2019 •Marketing programs that SURROUND the sponsorship are often what generates the real returns. •Classified as an "earned" media because real value comes through exposure through media editorials -Positive editorial coverage worth 5-10x a paid ad

Brand Knowledge

•Brand knowledge creates the differential effect that drives brand equity It is influenced by marketing efforts but ultimately resides in the minds and hearts of prospects.

Self Respect

•Brand makes consumers feel better about themselves •Consumers feel a sense of pride, accomplishment or fulfillment

strategic implications

•Brand needs to be top-of-mind and have sufficient mind share •But also must do so at the right times and places •It's usually harder to change existing brand attitudes than to remind people of existing attitudes in additional, but appropriate, consumption situations

services

•Branding a service can be an effective way to signal to consumers that a firm has designed a particular service offering that is special and deserving of its name •Helps mitigate the inevitable variability in service offerings •Can also help make the abstract nature of services more concrete (Finance)

Retailers and distributors

•Brands can -generate consumer interest, patronage, and loyalty -create an image and establish positioning within an industry -yield higher price margins, increased sales, and greater profits •Retailers can introduce their own (profitable) brands by: -Using their store name -Creating new names -Some combination of the two -Popular practice in Europe

Brand Equity Responsibilities

•Brands need constant, consistent nurturing to grow. •Weak brands often suffer from a lack of discipline, commitment, and investment in brand building: i.e. people issues •Third step in establishing a successful brand equity management system -Clearly define organization responsibilities and processes with respect to the brand

Revitalizing Brands

•Brands on the comeback trail often need to be more REVOLUTIONARY than evolutionary •Revitalization strategies run the gamut along a continuum from a retrench to its past to a total overhaul

Who gets hit most in a crisis?

•Brands with a more "sincere" brand personality (the crisis causes more cognitive dissonance) •Brands with with strong relationships its customers. Those loyal to the brand, especially those directly affected by the crisis, feel the most betrayal •A well-known parent or corporate brand that supported a rogue niche sub-brand

increased consumer marketing effectiveness

•Brands with strong CBBE already have knowledge structures in consumer's minds •If the brand is strong, consumers are more likely to notice the ad/sales promotion/direct mail •Familiar brands are less susceptible to interference and confusion from competitive ads, more responsive to humor, less vulnerable due to concentrated repetition

New Products Fuel Growth

•Businesses are tasked to grow revenue •Creating new products are two of the four main growth strategies •New product introductions are often critical to the long-term health of the firm

Why Ethnography?

•By tapping more directly into consumers' actual home, work, or shopping behaviors, researchers may uncover richer, more meaningful insights •Ethnographers can even extract and interpret the deep cultural meaning of events and activities (e.g. holiday rituals; pet ownership; etc.) •Helpful when developing rich consumer personas

Cons of Using Characters

•Can be so well-liked that they dominate other brand elements and actually dampen brand awareness. •Must be updated over time so that their image and personality remain relevant to the target market. •May not travel to other cultures •Exposes the brand to risk if the actor playing the celebrity runs afoul

cons of vertical brand extensions

•Can confuse or frustrate consumers who have learned to expect a certain price range from a brand •Successful downward extension can harm the parent's brand image by introducing associations common to lower-priced brands •Can negatively impact the sales of the parent

Mass Customization

•Can involve customers in the purchase process •Customers are now in a position to co-create their offerings with firms

out of home pros

•Can reach a very precise and captive audience in a cost-effective and increasingly engaging manner •On 24/7

what does positioning do

•Clarifies what a brand is all about •Outlines for whom it's best suited •Highlights how it is unique to competitive brands •Highlights how it is similar to competitive brands •Indicates why consumers should purchase it

Global Distributions Strategy

•Companies often need to differ in their approach to distribution, especially in markets that still rely heavily on "traditional trade" •80% of consumers in emerging markets buy through traditional trade; big brands may need to rethink their approach vs. relying on Western trade strategies •Firms will often want to blend push and pull strategies internationally

Reality vs Perception Research

•Compare subjectively perceived attribute values from objectively measure attribute values(e.g. Consumer perception of quality vs Consumers' Reports measure)

A Brand Audit

•Consumer-focused exercise to assess the health of the brand, uncover its sources of brand equity, and suggest ways to improve and leverage its equity ex. Dominos

Net Promoter Score

•Consumers asked to rank likelihood to recommend on a 10-point scale •"Detractors" (those who scored 0-6) are subtracted from "Promoters" (those who scored 9 or 10) to arrive at NPS (7s and 8s are deemed "passively satisfied" and aren't counted either way) •Most fall in the 10-30% range, but top scoring brands in the world can be in the 70's

Blind testing research

•Consumers examine or use a product with or without brand identification •Differences typically emerge •(e.g. on a blind taste test of cheap light beers, consumers preferred Natty Light)

Corporate Image Dimensions: People and Relationships

•Corporate image associations reflect characteristics of the employees of the company, especially those in service industries •Companies seek a customer-focused corporate image association: a company as responsive to and caring about its customers

co-branding: ingredient branding

•Creates brand equity for materials, components, or parts that are contained within other branded products •Branded ingredients are often a signal of quality •Uniformity and predictability of ingredient brands can reduce risks and reassure consumers

promotion cons

•Decreased brand loyalty & increased brand switching •Decreased quality perceptions and increased price sensitivity •Inhibit the use of franchise •Diverts marketing funds •Increase the importance of price as a factor in consumer decisions •May subsidize buyers who would have bought the brand anyway

The Charter/Bible should:

•Define and clarify points-of-parity, points-of-difference, and the brand mantra •Explain how brand equity is measured •Offer some general strategic guidelines, stressing clarity, consistency, and innovation in marketing thinking over time. •Outline how to devise marketing programs along specific tactical guidelines, satisfying differentiation, relevance, integration, value, and excellence criteria •Specify the proper treatment of the brand in terms of trademark usage, design considerations, packaging, and communications (more detail often included in a separate style guide) •Be kept current even if many sections don't change

quality

•Defined by specific attributes and benefits of a brand •Consumers can hold a host of attitudes toward a brand: •But the most important relate to its perceived quality •Perceived quality measures are inherent in many approaches to brand equity

Recall

•Demonstrated when consumers are able to retrieve a brand element from memory, when given some related probe or cue •Top of Mind, Unaided, Aided •Measures of recall based on product attribute or category cues and situational or usage cues give an indication of breadth and depth of recall

3. Cash Cows

•Despite dwindling sales, some brands are retained -Due to their sustainability with virtually no marketing support •Milked by capitalizing on their reservoir of existing brand equity

guidelines for direct response

•Develop an up-to-date and informative list of current and potential future customers. •Put forth the right offer in the right manner. •Track the effectiveness of the marketing program. •Precision marketing— Using data analytics for more strategic messages

Projective Techniques

•Diagnostic tools to uncover the true opinions and feelings of consumers when: -Unwilling or otherwise unable to express themselves on these matters •Present consumers with ambiguous stimulus and ask them to make sense of it

Ways for companies to react

•Do nothing (play your game) •Go on the defensive (strengthen your foothold) •Go on the offensive (change your strategy)

Global Product Strategy

•Due to the relative expense, many companies try to sell their products without sufficient market research •Sometimes became aware of consumer differences only AFTER the introduction of the product. •Research reveals that product differences are not justified for certain countries. •From a corporate perspective, a solution to the trade-off between global and local brands is to sell both types of brands as part of the brand portfolio in a category.

Every Day Low Pricing vs. Discounting

•EDLP: -Avoids the sawtooth pattern of alternating price increases and decreases -Avoids discounts in favor of a more consistent set of "everyday" base prices on products -Mixed success: people love a sale!

Brand Identity is the Sum of All the Elements

•Each brand element can play a different role in building brand equity: -Marketers "mix and match" to maximize brand equity -All brand elements add to awareness and image and should work together

Planning Brand Extension Opportunities

•Equity implications of each extension needs to be understood in terms of: -Points-of-parity -Points-of-difference •Extensions should be planned carefully -through little steps over time -e.g. Nike evolving from running shoe to athletic shoes, clothing and equipment across a range of sports to both genders in virtually every country (over a 25 year period)

Ethnographic and Experiential Methods

•Ethno = people; graphy = writing It's writing about people •Ethnographic research involves studying the consumer in his/her own home, and/or where they shop and observing their daily behavior •Most are done with cooperation of paid participants. Some are conducted without the subject even knowing (e.g. shopping observations; garbage rummaging)

1. Company

•Existing brands can be related to a corporate or family brand •Corporate or family brand can be a source of brand equity •Three main branding options exist for a new product -Create a new brand -Adopt or modify an existing brand -Combine an existing and a new brand

trade promotions

•Financial incentives given to channel members to facilitate the sale of a product by securing premium shelf space and/or store feature •Includes slotting allowances, P-O-P displays, dealer incentives, and cooperative advertising

consumer promotions

•Financial incentives given to the consumer designed to change the choices, quantity, or timing of product purchases. •Includes coupons, premiums, contests, offers, etc.

shareholder value

•Financial marketplace formulates opinions and assessments •Direct financial implications for brand value •Three key indicators are: -Stock Price -P/E Ratio -Market Cap

Brand meaning is co-produced by 3 different forces

•Firm-generated brand meaning •Consumer-generated brand meaning •Media and cultural influences

Brand Equity Responsibilities: Organization Design & Structure

•Firms may attempt to redesign their marketing organizations to better reflect the challenges faced by their brands. •Traditional marketing departments have been replaced by multidisciplinary teams aiming to improve internal coordination as well as external focus on retailers and consumers •Data-driven, digitally-savvy

Brand Bible

•First step in establishing a brand equity management system -Formalizes the company view of brand equity into a document •Brand bible (aka Brand Charter, Brand Book) -Provides relevant guidelines to marketing managers and key marketing partners -Should be updated annually

Brand Inventory

•First step in the brand audit •Purpose: to provide a current, comprehensive profile of how all products and services are marketed and branded •Profiling each product or service requires marketers to catalogue: -Visual and written form for each product or service sold -The inherent product attributes or characteristics of the brand -Pricing, communications, and distribution policies

Qualitative Research Techniques

•Free Association •Projective Techniques -Zaltman Metaphor Elicitation Technique •Neural Research Methods •Ethnographic and Experiential Methods

Licensing pros

•Generate extra revenue and profits •Protect their trademarks •Increase their brand exposure •Enhance their image

Memorability

•Goal is to be easily recognized and easily recalled •Seek elements that command attention to make them inherently memorable

Why use slogans

•Help build brand awareness by making strong links between the brand and the corresponding product category •May summarize the descriptive or persuasive information conveyed in the ad

Migration Strategies

•Helps consumers understand how various brands in the portfolio can satisfy their needs as they change over time or as products and brands themselves change over time •Managing brand transitions is especially important in rapidly changing, technologically intensive markets •Ideally, brands will be already be organized in consumers' minds: good brand architecture helpful here

Product Descriptor

•Helps consumers understand what the product is and does -Helps define relevant competition in consumers' minds •In the case of a truly new product, introducing it with a familiar product name may facilitate basic familiarity and comprehension

Likelihood to recommend

•How likely is it that you would recommend this product or service to a friend or colleague? •Deemed by many the single most important metric in assessing brand health •Net Promoter Score is a strong single metric to measure brand health:

Why ZMET works

•Humans have a strong tendency to interpret new experiences using pre-existing mental models; analogies and metaphors are central to the creation of thought •Self-selected visual and sensory images are explored and used to elicit conscious and unconscious constructs and mental models; deeper structures of thought can be accessed •Most human communication is non-verbal; enabling consumers to express themselves non-verbally (through visual images and other sensory cues) allows for more natural entry points into a consumer's feeling about a brand •Data is collected and analyzed to help drive product design, brand storytelling and potentially other marketing mix decisions

Social Media: Facebook

•If Facebook were a country, it would be the largest country in the world! With a combination of social media advertising and social media marketing, brands can establish large reach on this platform •Can target very specific segments on a variety of demographic and psychographic segments (hobbies, political affiliation, interests); however, segmentation costs more and may not lead to better results vs a broad approach •Increasingly under fire due to the use of consumer data without explicit permission

greater trade cooperations and support

•If a brand is strong, retailers and other middlemen are more likely to respond to the wishes of consumers and actively promote and sell the brand •Channel members are less likely to need a marketing push to stock, reorder and display the brand •Willing to take lower margins, pass through trade promotions, demand smaller slotting allowances, and give more favorable shelf space

Frequents Overhauls confuse an overwhelmed consumer

•Ill-conceived or too-frequent changes can blur the image of a brand and confuse or even alienate consumers •Brands that embrace frequent radical change don't know what they want to be, may be chasing fads and be dismissed by consumers as inauthentic

brand portfolio

•Includes all brands sold by a company in a product category • •Portfolio is designed to maximize market coverage so that no potential customers are being ignored, but minimize brand overlap so that brands aren't competing among themselves to gain the same customer's approval -Each brand should have a distinct target market and positioning. -Any one brand in a portfolio should not harm or decrease the equity of the other -Ideally, each brand maximized equity in combination with all others

Why have multiple brands in a category?

•Increase shelf presence and retailer dependence in the store •Attract consumers seeking variety who may otherwise switch to another brand •Increase internal competition within the firm •Yield economies of scale in advertising, sales, merchandising, and physical distribution

Influencer marketing

•Influencer marketing involves utilizing -Sponsored bloggers -Celebrity influencers -Topic experts -Opinion Leaders •Designed to look like an honest endorsement

Radio/Audio pros

•Is flexible and stations are highly targeted. •Ads are relatively inexpensive to produce •Effective medium in the morning and can effectively complement or reinforce TV ads. •Enables companies to achieve a balance between broad and localized market coverage

Re-Examining the Brand positioning/promise

•Is the consumer ascribing the imagery to the brand as intended, or do we still have work to do to get it to our desired image? •Are there brand associations worth strengthening? Are there others worth eliminating?

Projective Techniques: Why

•It may be difficult for consumers to admit that a certain brand name product has prestige and enhances their self-image. -They may instead refer to some particular product feature as the reason they like or dislike the brand. •They may simply find it difficult to identify and express their true feelings when asked directly, even if they attempt to do so •For either of these reasons, it might be impossible to obtain an accurate portrayal of brand knowledge structures without some rather unconventional research methods.

digital display cons

•Lack of control over ad placement •Online users tend to be task oriented; banners can be largely invisible •Click through rate is very, very low (0.35%) •More limited creatively than other formats •User annoyance

Radio/video cons

•Lack of visual image •Relatively passive nature of consumer processing may require multiple brand mentions for maximum effectiveness

Television/Video Cons

•Large number of ads and nonprogramming material creates clutter •Media fragmentation •Increasingly skippable

print cons

•Long lead times for magazines: tough to be timely •Poor reproduction in newspaper, diminishing impact •Short shelf life for newspaper •Being replaced by digital media for consumers <50

Co-branding cons

•Loss of control •Risk of brand equity dilution •Negative feedback effects •Lack of brand focus and clarity •Organizational distraction

Why use direct marketing

•Makes it easier for marketers to establish relationships with consumers •Allows marketers to explain new developments with their brands to consumers on an ongoing basis •Allows consumers to provide feedback to marketers about their likes and dislikes •Suits digital space perfectly

Brand Vision

•Management's view of the brand's long-term potential: •It is influenced by how well the firm is able to recognize the current and possible future brand equity. •Brand vision needs to be aspirational, so the brand can improve in the future, yet it cannot be unobtainable. •It transcends the brand's physical product category descriptions and boundaries.

Changing Brand Elements

•May need to convey new information •May need to signal that a brand has taken on new meaning because something in the marketing program has changed •May want to signal a new age for the company (though success stories like this one are RARE)

ZMET cons

•Meaning interpretation is subjective •Training required to conduct and analyze interviews carries high startup costs for market research firms and/or brand teams, •Quantitative estimates of the strength of links among constructs are not possible to obtain •Slower than a survey, less economies of scale than a focus group, •If interviewees use digital search to find their photographs, their visuals will rely on verbal cues and/or tags created by others, •Likely to include only a small number of participants, reducing generalizability and hypothesis-testing capabilities.

OLV pros

•Measurable •Real time results •Portability •Often cost less than equivalent traditional media

ZMET Pros

•Metaphor-elicitation approach allows the uncovering of both verbal and non-verbal brand meaning, allowing researcher to uncover conscious and unconscious meaning, •Qualitative approach delivers rich, deep understanding of consumers' mental models, •Reliability and validity are increased through multiple interviewees (increasing sample size to achieve point of saturation) and cross-case analysis, which helps eliminate idiosyncratic constructs and/or construct relationships, •Creative teams can be supplied with verbal, visual, and sensory inputs in a creative brief to drive brand storytelling creation and execution, •Works well for hypothesis-generation

Brands need to know where to say it

•More places where a brand COULD communicate today •More pieces of content are needed •Need for creative integration is stronger •Constant measurement of ROI across channels to optimize a brand's media mix

Jingles

•Musical messages written around the brand •Catchy hooks and choruses that become permanently registered in the minds of listeners •Enhance brand awareness by repeating the brand name in clever and amusing ways

Corporate Branding Requirements

•Necessitates that the firm keeps a high profile, likely with a charismatic CEO •Firm must subject itself to more scrutiny and be transparent in its values, activities and programs

Global Pricing Strategy

•Need to understand in each country what consumer perceptions of the value of the brand are, their willingness (and ability) to pay, and their elasticities with respect to price changes •Pressures for international price alignment have arisen, in part because of the increasing numbers of legitimate imports and exports

Neural Research Methods

•Neuromarketing -Study of how the brain responds to marketing stimuli, including brands •Research indicates that consumer buying decision is a unconscious habitual process •Some firms apply sophisticated techniques: -E E G (electroencephalogram) technology -Functional magnetic resonance imaging (f M R I)

Brand Names

•Often captures the central theme or key associations of a product in a compact, economical fashion •Most difficult element for marketers to change: •Tough to get right

Naming Strategies if Extending Vertically

•Often different brands are used to minimize cannibalization and ensure the sanctity of each segment of the vertical

Repositioning the Brand

•Often in revitalizations, the key is to make the brand more contemporary (often just to get to a point of parity to winning brands) •In some cases this may require shuffling the brand offer to arrive at more compelling points-of-difference •A revised, revitalized brand promise is a likely outcome

The Need to Evolve

•Old strategies learned in the past need to be challenged •Different media mixes need to be embraced •More integration is needed with more content and more channels •The organization structure needs to change to help brands embrace this

Package design

•Package design has become a more sophisticated process: •Specialized package designers bring artistic techniques and scientific skills •Companies consider the total effect of the shelf to ensure their brand stands out -Brighter isn't always better -Going for the billboard effect at shelf

Product strategies should focus on both purchase and consumption

•Particularly important in the context of e-commerce •Processes or programs that can help with managing customers post-purchase -User manuals -Customer service programs -Loyalty programs

Brand Equity Responsibilities: Managing Marketing Partners

•Partners (ad agencies, packaging partners, design firms, consultants) have impact on the brand •After a period of diversifying over several agencies, firms are increasingly consolidating their marketing partnerships (better cost containment, more consistency for the brand)

promotion pros

•Permit manufacturers to charge different prices to groups of consumers who vary in their price sensitivity •Convey a sense of urgency to consumers •Can build brand equity through actual product experience •Encourage the trade to maintain full stocks and support the manufacturer's merchandising efforts

Social Media: Instagram

•Platform of about 400 million users •Targeted to a younger audience and typically has higher brand engagement levels than other platforms •Can feel "less like advertising"; can better target the ad avoiders

Examples that didn't work - trivializing the cause: Pepsi

•Poorly attempted to leverage a growing number of protests including the Black Lives Matter movement •Ad and message "Live Bolder" were slammed as being tone deaf •Given Pepsi's traditional wheelhouse of fun, light, poppy moments, it felt more trivialized than it may have been with a different brand

Licensing Risks

•Product may not live up to the reputation established by the brand •Inappropriate licensing can delete brand meaning •The brand promise must be upheld on all products

Product Placement

•Product placement is the paid placement of a brand within the storyline of a movie, TV show, video game or printed piece •Unskippable as the product is part of the content the viewer wants •Provides an implied endorsement by the star using the product •Can be seen as being a more authentic endorsement (with higher impact) than a classic advertisement

2. Flanker Brands

•Protective or "fighter" brands -To create stronger points-of-parity with competitors' brands •Fighter brands must not be so attractive that they take sales away from higher-priced comparison brands -If connected to other brands in the portfolio, must not be designed so cheaply that they reflect poorly on other brands

Social Influencers as the New Celebrities

•Rapid growth in the use of social media celebrities for advertising brands •Also noncelebrity or micro-influencers who have considerable sway on social media

Updating Slogans

•Recognize how it contributes to brand equity through enhanced awareness or image •Decide how much of this equity enhancement, if any, is still needed •Retain needed or desired equities still residing in the slogan while providing whatever new twists of meaning are necessary to contribute to equity in other ways

Prepare for some opposition

•Regardless of the cause a brand might look to tackle, many causes have both advocates and opponents. •If your audience consists of both in numbers, then make sure this is the hill on which you're willing to die •You also have advocates who are so passionate, they defend the cause by questioning authenticity of brands that raise the issue •Traditionally, there are three main drivers of negative reactions: •Hypocrisy (inconsistency between claim and action) •Politicization of the claim •Suspicion of inauthenticity

Measuring Brand Awareness

•Related to the strength of the brand in memory reflected by consumers' ability to identify various brand elements •Describes the likelihood that a brand will come to mind in different situations Strategic Implications: •Yields insight into how brand knowledge is organized in memory •Identifies cues or reminders necessary for consumers to retrieve the brand from memory

recoginition

•Requires consumers to identify the brand under a variety of circumstances •Can rest on the identification of any of the brand elements •Especially important for packaging

Individual Brand

•Restricted to essentially one product category -Although multiple product types may differ •Customization of the brand and all its supporting marketing activity •If a brand runs into difficulty or fails, risk to other brands and the company is minimal •Disadvantages of difficulty, complexity, and expense of developing separate marketing programs

Brand Exploratory

•Second step of the brand audit •Provides detailed information about what consumers actually think of a brand -Helps identify sources of brand equity and possible barriers

print pros

•Self-paced, provides detailed product information •Magazines are particularly effective at building user and usage imager •Newspapers offer geographic selectivity •Magazines offer high pass through readership

Slogans

•Short phrases that communicate descriptive or persuasive information about the brand •Function as useful "hooks" or "handles" to help consumers grasp the meaning of a brand •An Indispensable means of summarizing and translating the intent of a marketing program •While relatively easy to change, in some successful cases they have as much longevity of any branding element other than the brand name and logo

brand mantra

•Short, three-to five-word phrase: -Captures the irrefutable essence or spirit of the brand positioning •Provides guidance about: -What products to introduce under the brand -What ad campaigns to run -Where and how the brand should be sold

Promotions

•Short-term incentives to encourage trial or usage of a product or service •Designed to change the behavior of the: •Trade so that they carry the brand and actively support it •Consumers so that they buy a brand for the first time, buy more of the brand, or buy the brand earlier or more often

free association

•Simplest and often most powerful way to profile brand associations •Subjects are asked what comes to mind when they think of a brand -No more specific probe or cue than perhaps the associated product category •Used mainly to identify the range of possible brand associations in consumers' minds •Answers help marketers clarify the range of possible associations and assemble a brand profile

Owned Media: Social Media Marketing

•Social media channels offer unparalleled access to communities of users with similar demographic, geographic, and psychographic characteristics •Social media marketing is any social media action you take that is unpaid (vs. social media advertising which is paid) -posting about your blogs -sharing info with your followers -commenting in social media groups •Social media marketing works harder with some social media advertising -ads help "prime the pump" for the unpaid

Why Retire?

•Some brands are not worth saving -Sources of brand equity may have dried up -Damaging and difficult-to-change new associations may have been created •Discontinuing brands may pave the way for introducing innovative, new brands or giving more support to core volume brands

warmth

•Soothing feelings that make consumers feel a sense of calm or peacefulness •Consumers may feel sentimental, warmhearted, affectionate

Animated Characters

•Special type of brand symbol: -One that takes on human or real-life characteristics •Introduced through advertising: -Can play a central role in ad campaigns and package designs

less vulnerability to competitive marketing actions

•Strong brands fend off newcomers and retain their relevance for years(see previous chart) •Most product categories eventually get down to three main players

Valuation Approaches

•Subtract the tangible assets of a firm's market cap to determine the value of the brands Examples: •Brand Finance "relief from royalty" calculates the royalties a company WOULD pay if they had to license the brand •Interbrand's Top 200 Global Brands annual valuation

sponsorship cons

•Success of event is unpredictable as is ROI •Brand is not the star: the event is •Brand can get lost among the other branded sponsors •Resentment of commercialization by some consumers

1. Confuse or frustrate consumers

•TOO many options isn't choice •Sometimes we'd prefer "freedom FROM choice" •Prefer an ALL-IN-ONE product versus specialized products •e.g. one study found that consumers were more likely to make a purchase after sampling a product (and being given a coupon) when there were six product flavors to sample than when there were 24

Brand Stretch Analysis

•Testing with consumers to see how willing they would be to accept a product outside the brand's known area •Brands with stronger brand equity can stretch more

improved perceptions of product performance

•The (intangible) brand can affect perceptions of (tangible) performance. •Psychology affects physiology.

Indirect Channels: Channel Strategy Affects Image

•The brand's channel strategy should match its image -High end brands can lose their exclusivity if in the wrong retailers -Though less detrimental, value brands can lose their value perception if found in higher end retailers

Influencer marketing cons

•The wrong influencer, or influencer maleficence can damage the sponsor •Rules stating that sponsored bloggers must disclose their sponsorship has lowered the effectiveness of this practice

Protecting Sources of Brand Equity

•There is little need to deviate from a successful positioning •Key sources of brand equity are of enduring value •A top priority is to preserve and defend those sources rather than ignoring them by spending all resources chasing new ones

Acquiring New Customers

•Trade-offs between attracting new customers and retaining existing ones •Firms must proactively develop strategies to attract new customers, especially younger ones CHALLENGE: •How does a brand stay relevant across generations, cultures and communities? POSSIBLE SOLUTION: •Build from universal human truths or universal category truths

straddle positions

•Type of positioning where a company is able to straddle two frames of reference with one set of points-of-difference and points-of-parity •The points-of-difference in one category: •Become points-of-parity in the other •And vice-versa for points-of-parity

URLs

•URLs (uniform resource locators) specify locations of pages on the Web -Commonly referred to as domain names •Owner of a URL must register and pay for the name -Protects a brand from unauthorized use in other domain names •The URL is the 21 Century's 1-800#

pros of vertical brand extensions

•Upward extension can improve brand image; a premium version of a brand often brings positive associations with it •Extensions in either direction can offer consumers variety, revitalize the parent brand, and permit further extensions in a given direction

Naming Strategies if Extending Upward

•Use brand modifiers to signal a noticeable quality improvement

Family Brand

•Used in more than one product category -But is not necessarily the name of the company or corporation -Also called a range brand or umbrella brand •If the corporate brand is applied to a range of products, then it functions as a family brand too •If products linked to a family brand are not carefully considered, the associations to the family brand may become weaker

6. Celebrity Endorsement

•Using well-known and admired people to promote products -Widespread phenomenon with a long marketing history •A famous person can: -Draw attention to a brand -Shape brand perceptions, by virtue of consumers perceptions of the famous person •Estimated they're used in 15% of U.S. ads -24% India; 45% Taiwan

Television/Video Pros

•Vividly demonstrate product attributes and persuasively explaining their corresponding consumer benefits. •Portraying user and usage imagery, brand personality, emotions, and other brand intangibles

Free Association Useful Questions

•What do you like best about the brand? •What are its positive aspects or advantages? •What do you like least about the brand? •What are its negative aspects or disadvantages? •What do you find unique about the brand? •How is it different from other brands?

purpose washing

•When brands attempt to unethically ride the coat-tails of purposeful causes with thinly veiled campaigns that have little to no substance. •Purpose has to be authentic. •It has to be more than a "woke SKU" in your lineup (e.g. Mattel's braille UNO or Hasbro's Ms Monopoly) •It should be supported by action, not just advertising •It should bring some needed "good" into the world.

larger margins

•When customers attach a level of quality or prestige to a brand, they perceive that brand's products as being worth more than products made by competitors •So, they are willing to pay more •BUT the cost of manufacturing the item and bringing it to market is not higher, at least to a significant degree; thus the higher price means higher margin with the difference going to profit

more elastic consumer response to price decreases

•When strong brands go on sale, consumers are MORE likely to increase the quantity of the brand purchased •Draw a disproportionate amount of share from smaller-share competitors

3. Where Bought

•Where you buy impacts brand image. •The brand of the retailer rubs off onto the brand being sold e.g. "This store only sells good-quality merchandise, therefore THIS must be good-quality merchandise" "This store only sells cool stuff, therefore...."

Selecting a name: Brand Associations

•Your brand name is the most compact form of communication. •If consumers can derive brand meaning from it, the brand may benefit. May be functional benefits May be emotional or more abstract May use semantic devices such as: Metaphor, Metonymy, Synecdoche, Oxymoron, Onomatopoeia.

Good tracking can help a marketer better understand a host of important considerations including:

•category dynamics •consumer behavior •competitive vulnerabilities and opportunities •marketing effectiveness and efficiency

To Personalize: Organizations must

•continuously monitor feedback regarding customer needs and wants and how well those are being satisfied through company offerings. •deploy cross-functional teams to understand the customer's decision journey, which may involve a variety of different channels including the company's Web site, a mobile app, or an in-store experience. •employ an iterative process of testing and learning to identify what works and what does not.

Sponsorship pros

•identify with a particular target market or lifestyle •increase awareness of the company or product name •create or reinforce consumer perceptions of key brand image associations •express commitment to the community or on social issues •entertain key clients or reward key employees •permit merchandising or promotional opportunities •transfer some of the event's popularity to the brand*

Positive Engagement

•joining a club •opting in for updates •conversing with other brand users •recommending the brand to strangers

Online video (OLV) advertising

•promotional content that plays before, during or after streaming content •display ads with video content, such as those that start playing when a person puts a mouse cursor over them •clickable as with display ads •a more powerful tool for brand builders due to the inherent advantage of video as a storytelling medium

Perceived Quality includes broader performance considerations such as

•speed, accuracy and care of product delivery •promptness, courtesy and helpfulness of customer service •the brand experience (for experiential brands)

Negative Engagement

•spreading negative reviews •organizing boycotts of a brand •encouraging others to join "hate groups" on social media

Marketers can establish geographic associations in different ways

In the name As an endorsement Through advertising

People and Organizations

Includes politicians, business leaders, nonprofits, trade organizations and the like

Earned Media

Incremental exposure earned by a brand through viral engagement/ interactions

Sometimes a little refreshing is needed to _________, but the best brands ___________

Inject some modernity, tinker very little

Medium Characteristics

Interactive media drives more than one-way; as does media in which a brand can thrive uncluttered

Reintermediation

Introduction of new intermediaries that perform some of the same functions or have additional roles in the channel of distribution ex. Yelp

1. Which Products to be introduced to any one brand

Investment resources are finite; do you fund new things or current things? The brand extension needs to work in its category; "me toos" are discouraged Brand extensions should complement the current brand equity, not fight it

Geo-fencing

Involves particular advertising messages delivered to mobile users with a defined geographic area

PR

Involves supplying content for the mainstream media with the intention of getting branded mentions. Includes: -press releases and press conferences -media interviews -goodwill events that provide a "warm and fuzzy" story -content for news coverage -fund-raising and membership drives -coverage stemming from branded goodwill activities -investor relations

Questions to ask about your purpose

Is the cause or issue likely to be perceived as relevant to our target audience? Is it possible that a section of the audience or public may be offended by our stance? If so, who and why? Can we afford to alienate them? Is there an obvious connection or association with the cause and our brand? Will the purpose strategy generate positive associations about the brand?

PepsiCo model Questions

Is the framing of brand benefits compelling? Is the expression of brand symbolism apt? Will the ad resonate with the target culture? Engaging, simple, original, creative? Integrates product into the story? Effective extension of campaign equities?

The brand promise

Is the value or experience a brand's customers can expect to receive every single time they interact with that brand

Social Media Listening

It can help firms find big wins

2. Encounter retail resistance

It has become virtually impossible for a store to offer all the different varieties available across all the different brands in any one product category e.g. Wal-mart drops 20% of its slowest moving SKUs per category annually

Proper and diligent brand building has positive long-term impact BUT

It is often hard to link activities that improve brand equity to short-term, incremental profits

Meaningless Distinction Beats Meaningful Differentiation

It's not about a rational point of difference or persuasion, but rather making your brand as easy to buy as possible.

What brand purpose is not

It's not: •a short-term marketing fad •something you're must be born with (though brands born purpose-driven are often the most purposeful) •just for Millennials/ Gen Z •a marketing veneer that doesn't get imbedded throughout the organization •just another word for CSR •the new greenwash (though "purpose washing" is an issue)

brand judgments

Judgments are consumers' personal opinions about and evaluations of a brand put together from all the different brand performance and imagery associations quality, credibility, consideration, superiority

desirability

Just being different isn't enough -Target consumers must find the POD personally relevant and important. -Brands that tap into growing trends with consumers often find compelling PODs Feasibility and Communicability

Communicating Value

Just delivering good value is not sufficient for achieving pricing success -Consumers need to understand and appreciate the value of the brand -Value is not always obvious •At times, must be communicated

Holistic Examples

Kantar Brand Power Millward Brown Brand Dynamics Y&R's Brand Asset Valuator Valution Approaches

Change/Clarify your target

Key target market segments as part of the brand revitalization strategy: -Retaining vulnerable customers -Recapturing lost customers -Identifying neglected segments -Attracting new customers (easier to more difficult)

Success Factors in the Digital Era

Knowing how consumers research online Faster decision making across functions A company-wide strategy for data usage, collection Knowing how best to use a range of channels Social listening to glean insights Tools for Customization

How to Successfully extend the category

Leverage the Strength of a Parent Brand

the why affects our decision making more than the what

Limbic Brain responsible for all our behavior and human decision making. •It is more interested in creating a bond with a brand through the Why as opposed to the features of the product.

g. allow for packaging and labeling efficiencies

Line extensions can create a billboard effect at shelf

Adjustments to the Portfolio

MIGRATION STRATEGIES ACQUIRING NEW CUSTOMERS RETIRING BRANDS

Retiring Brands: Options for fading brands

MILK THEM (ORPHAN BRANDS) SELL THEM REDUCE SKUs(ZOMBIE SKUS) RETIRE THEM

Selecting a name: Simplicity

Make it easy to remember -Short, easy to pronounce, easy to spell -Rather than risking mispronouncing tricky names, consumers may just avoid them -Tricks include alliteration, assonance, consonance, rhythm

Great Brands are consistently supported

Many brand managers will: •Cut R&D and innovation budgets in "tough times" •Adjust advertising spending based on immediate-term brand performance: radical cuts when sales are slow and large increases when sales are strong •Increase price as the main source of top-line growth •"Buy" share through short-term price discounts Problems may not show up immediately. But such actions adversely affect the brand's long-term health

The Consumer Persona

Many brands take the research and humanizes it (literally) by creating robust consumer personas to describe their target market. •Some brands will call their personas by name when describing the target. •Will refer back to the persona when making decisions about brand activation (e.g. "What would Karen think about this?")

THE CHASM BETWEEN SHORT AND LONG TERM THINKING EXACERBATED

Many valuable digital companies are worth billions due to the intangible value derived from strong customer relationships even though profitability has been checkered It's even more important that marketers have tools and procedures that clarify and justify the value of their expenditures beyond short term ROMI

BUSINESS DEMANDS IMMEDIATE RESULTS

Marketers are increasingly under pressure to show positive returns on their marketing investment (ROMI) Virtually every marketing dollar spent today must be justified as both effective and efficient.

8. Third Party Seal of Approval

Marketers can create secondary associations in a number of different ways by linking the brand to various third-party sources Third-party sources can be especially credible sources Marketers often feature them in advertising campaigns and selling effort

3. Desired Awareness and image ate each hierarchy levels

Marketers need to ask how many associations and brand elements do they need to create at each level (corporate, family, individual brand, modifier). Marketers that create associations relevant to ALL levels in a brand hierarchy can be more efficient and economical (Principle of Relevance) BUT Marketers also have to ensure that there is enough difference at each level so consumers can understand the distinctions (Principle of Differentiation)

4. Which Brand Elements Get the Emphasis

Marketers need to decide which element gets prominence. THE BRANDING STRATEGY SCREEN A tool to help determine how to dial up or dial down different elements

Protectability

Marketers should: 1.Choose brand elements that can be legally protected internationally 2.Formally register them with appropriate legal bodies 3.Vigorously defend trademarks from unauthorized infringement

Great Brands have continuity in brand meaning and image

Marketing continuity is critical to maintaining the strength and favorability of the brand associations. This means consistency in: •Brand Elements •Branding Strategy/Brand Voice •Messaging (and Your Ad Agency) •Secondary Associations •The Other 3P's

direct marketing

Marketing that uses mail, telephone, Internet, traditional broadcast and other contact tools to communicate with and solicit a direct response from consumers.

credence goods

May never learn product attributes ex. insurance

Integrated Marketing Communications (IMC)

Means by which firms attempt to inform, persuade, and remind consumers about the brands they sell

Measuring Behavioral Loyalty

Measure purchase intention as a sign of loyalty. For example: -Which brand of batteries do you usually buy? -Which brand of batteries did you buy last time? -Do you have any batteries on hand? Which brand? -Which brands of batteries did you consider buying? -Which brand of batteries will you buy next time? Compare to actual to see where in the marketing mix you may have a problem.

Attitudinal Attachement

Measures brand self connection and the prominence of the brand in a consumer's life*

superiority

Measures extent to which customers view the brand as unique and better than other brands •Critical to building intense and active relationships with customers. •Depends to a great degree on the number and nature of unique brand associations that make up the brand image.

Purchase Intention

Measures likelihood of buying the brand or switching to another brand. Stated intentions differ from actual behavior; however, it's more predictive if asked with more specificity.

Outcome of a brand tracker

Measuring brand equity and how its changed over time -strength/meaningfulness -favorability -uniqueness

Efficiency is largely affected by...

Media choices and cost control •Generally, the more mass, the less expensive on a per person basis •Targeted media tends to get a much larger percentage of conversion to a sale, but are more expensive on a cost per person basis •For paid ads, shorter/smaller ads are cheaper •Video costs more: TV more expensive on a CPM than radio, outdoor, display; OLV more expensive than display/native, But video has the most impact on memory.

Measuring Active Engagement

Metrics to measure •time spent collecting brand information: spending time with advertising, on the brand website, on the brand's social media feed or YouTube channel •energy and effort spent participating in brand marketing activities such as promotional contests and developing content •how much time is spent interacting with others through social networks, word of mouth, forums, and the like

mindshare branding

Mindshare is a measure of consumers' awareness of your business or brand compared to your competitors. In other words, it refers to brand visibility and popularity. It also brought the term "brand equity" into the lexicon. 1.Mass production capability 2.Mass transportation capability 3.Mass communication capability 4.A rising standard of living 5.Pent-up demand post WWII 6.More competition in product categories

Modifier Level

Must further distinguish brands according to different types of items or models, Designate a specific item or model type or a particular version or configuration of the product •Function of modifiers is to show how one brand variation relates to others in the same brand family •Help make products more understandable and relevant to consumers

f. avoid cost of developing a new brand

NO NEED FOR: brand name development logo development new brand packaging design slogan development (global) trademark search for new brand

Category extension:

New product introductions outside existing categories

Line extension:

New product introductions within existing categories

Branded House (House of Brand)

New products and services must be branded in a way to maximize the brand's overall clarity BRANDED HOUSE STRATEGY Umbrella corporate or family brand for all its products HOUSE OF BRANDS STRATEGY Collection of individual brands all with different names

Should all brand be purpose led?

No

Consumers have different needs depending on where they are in their journey...

No one ad should be tasked to do all that, which is why we take an IMC approach and match marketing goal to message and media

points of parity

Not necessarily unique to the brand but may be shared with other brands

ideas and causes

Numerous ideas and causes have been branded, May be captured in a phrase or slogan or represented by a symbol

Flow of a Case

OVERVIEW Formulate and include a thesis statement, summarizing the outcome of your analysis in 1-2 sentences. BACKGROUND Set the scene: highlight critical background information, relevant facts, and the most important issues. EVALUATION OF THE ISSUE Evaluate what is working and what is not working. PROPOSED SOLUTION/CHANGES Provide specific and realistic solution(s) or changes needed. Explain why (support with concepts from class) RECOMMENDATION Outline specific strategies for accomplishing the proposed solution.

credibility

Often defined by: •Perceived expertise: Competence, innovation, and ability to lead •Trustworthiness: Dependability and keeping customer interests in mind •Likability: Fun, interesting, and worth spending time with

Expanded Consumer Journey

Older journeys were more linear, New journeys have more steps There are more places for companies to intercept, they need to select key points

Evaluating a Campaign Idea

On vs Off Brief Strategy Same vs Different Creativity matrix Want to be different and on brief

Brand images can extremely sticky once formed

Once strong associations have formed, they may be difficult to change.

Packaging Brand Benefits

One of the strongest associations consumers have with a brand is inspired by the packaging. •Structural packaging innovations can create a POD that permits a higher margin •New packages can also expand a market and capture new market segments •Packaging changes can have immediate impact on customer shopping behavior and sales

Corporate Name Changes

Only considered when compelling marketing or financial considerations prevail

demographic

PRO: Clear segmentation approach that's easy to reach via traditional media since media is segmented on demographics. CON: May be too broad: often stark differences within a demographic as profound as differences between demographics

Geographic

PRO: Difference in interests, values and preferences vary dramatically through cities, states, regions and countries. CON: Not applicable for brands with more universal appeal (e.g. Corn Flakes).

Psychographic

PRO: Easier to craft messages/ a compelling positioning given these are more lifestyle traits (e.g. Pet owners, Baseball fans, Fly fishers, Republicans, etc.) CON: While "hyper-targeted" and/or niche media exist, it's more costly to buy psychographic segments.

Behavioral

PRO: The segmentation method with the clearest strategic implications as to types of products to make and offer. CON: Chasing consumer wants can make your brand purely reactive and it can lose its standing in the eyes of consumers

Customizing the Marketing Mix Elements in Local Markets for Global Brands

PRODUCT STRATEGY COMMUNICATION STRATEGY DISTRIBUTION STRATEGY PRICING STRATEGY

Packaging

Packaging is the act of designing and producing containers or wrappers

Digital Communication Categories

Paid, Earned, and Owned Media

Popular Qualitative Research Projective Techniques

Photo sorts Bubble drawings User Imagery Projection Personification exercises Role playing Metaphor elicitation (ZMET) Participatory design Collaging and drawing Comparison Tasks

Physical goods

Physical goods are what are traditionally associated with brands, Branding has been adopted in a variety of industries: -Industrial business-to-business (B2B) products (e.g. Caterpillar, DuPont, GE, Intel, Oracle) -Technologically intensive "high-tech" products

Pricing Strategy

Price is the one revenue-generating element of the traditional marketing mix •Price premiums are among the most important benefits of building a strong brand

Types of promotions

Price promotion, Point of Sale Advertising, Premiums, Contests and Sweepstakes, Mobile Marketing

9 Brand Hierarchy Principles

Principle of... Growth: Investments should be made according to ROI opportunities Survival: Extensions must achieve brand equity in their categories Synergy: Brand extensions should enhance the parent brand Simplicity: Provide only what's needed for consumers to make a decisions: employ as few levels as possible Clarity: Logic and relationship of all brand elements should be obvious and transparent Relevance: Create abstract associations that matter across as many individual items as possible Differentiation: Every brand variation should be clear so consumers can understand the differences between the brands Prominence: The relative prominence of brand elements determines which become primary, and which secondary Commonality: The more brand elements that products share, the stronger the linkages between them

Brands build from the tangible to the intangible

Product Attributes Functional Benefits for the Consumer (WHAT job it does) Emotional Benefits for the Consumer (HOW it makes users feel) Values of the Prototypical User (WHO the ideal consumer is)

Celebrity endorsement: product placement

Product placement is an implied endorsement by the character/actor

Personalization is ______

Profitable

Purpose led brands: Dove

Purpose: To create a world where beauty is a source of confidence not anxiety.

Purpose led brands: Nike

Purpose: To unite the world through sport to create a healthy planet, active communities and an equal playing field for all.

Quantitative Research Techniques

Qualitative helps point the way; it strives to uncover and discover. Quantitative provides a more robust, definitive measurement; it aims to prove or disprove. -Quantitative brand research is usually conducted in survey form and often uses 5, 7 and/or 10-point scales from which researchers can draw conclusions. -Great at outlining the "what". Takes skill to convert to the "why".

Reinforcing brands built on nonproduct-related associations

RELEVANT USER IMAGERY IS KEY... ...for brands whose core associations are primarily nonproduct-related performance attributes i.e. they are symbolic or experiential in nature •retail, lodging, apparel, beer, spirits

Breadth of awareness

Range of purchase & usage situations in which the brand element comes to mind

Disintermediation

Reduction or elimination of intermediaries ex. less need for travel agencies thanks to online travel tools

Social Responsibility Efforts

Repurposing advertising spend on acts designed to help promote the greater good

attitudinal loyalty

Resonance requires a strong personal attachment -Going beyond having a positive attitude: Viewing the brand as something special

Indirect Channels: Retail Segmentation

Retailers are often segmented based on their importance to the brand •Brands may supply retailers: -Different product mixes -Special delivery systems -Customized Promotions -Exclusive products (branded variants) Co-op advertising dollars

Indirect Channels: The Continued Power of Retail

Retailers still exert significant power over brands. -Shopper marketing is a critical part of brand communications given that most decisions are still ultimately made in store (70%) -Includes e-commerce (think Amazon reviews and recommendations impact on buyers) -Trade spend averages just under 50% of all marketing budgets

Unilever retiring strategy

Reviews 75% of products annually: "Like weeding a garden so the light and air get into the blooms likely to grown the best"

Steps to Developing a Brand Architecture Strategy

STEP 1: Define brand potential STEP 2: Identifying brand extension opportunities STEP 3: Specifying brand elements for branding new products

Two main tools for either refreshing old sources of equity or creating new ones

STRENGTHEN BRAND AWARENESS BOLSTER BRAND IMAGE

The Differential Effect

STRONG BRANDS SEEK AN IMPROVED CONSUMER RESPONSE •Brand equity arises from differences in customer response •If no differences occur, then the brand-name product can essentially be classified as a commodity or a generic version Competition would be based only on price

Handling a Crisis

STUFF HAPPENS. It's how a brand responds that matters

Brand Equity Report

Second step in establishing a successful brand equity management system -Assemble results of the tracking survey and other relevant performance measures for the brand A brand equity report should: -Describe what is happening with the brand? -Opine why is it happening? -Include a scorecard Distribute to management regularly

Direct Channels

Selling through personal contacts from the company to prospective customers. Mail, phone, electronic means, company-owned stores or in-person visits Firm has more control of the image since it controls the buying process.

Indirect Channels

Selling through third-party intermediaries Agents, broker representatives, wholesalers or distributors, or retailers or dealers Firm loses some control of the image, but gets access to more potential buyers.

Knowing how consumers research online

Senior mgmt. should be tasked with understanding how products and brands are researched and viewed online

Behavioral Loyalty

Share of requirements that the brand earns from its consumers.

Selecting a name: Differentiated, Distinctive, Unique

Simplicity helps recall; uniqueness improves brand recognition -Perhaps its distinctive and atypical for the category -Perhaps it's an unusual combination of real words -Perhaps it's a blend/ morphemic combination -Perhaps its completely made up -Should still be easy to pronounce

more inelastic consumer response to price increases

Since strong brands have greater loyalty, consumers are less likely to switch in the face of price increases

Social Media Advertising

Social media advertising (also known as paid social) involves running paid ads on various social media channels, such as Facebook, LinkedIn, Instagram, Twitter, Pinterest, Snapchat, and others. •includes banner ads as well as "native ads" •often charged on a pay-per-click (PPC) or cost-per-impression basis.

Factors that led to the emergence of brand purpose

Social media made it easier for consumers to call out brand transgressions. It made it easier to surround oneself with others who shared their beliefs The hashtag gave consumers more swagger and they were using it to scold brands who weren't behaving as they wish. Consumers were signaling that they wanted brands that were part of their tribe: ones that shared their views and beliefs. •82% of liberals say they want their brands to match their politics Brands were quickly forced to consider what the public wanted, especially if there was a perception in the market of unethical behavior.

Corporate Image Dimensions: Values and Programs

Socially Responsible Image: •Portrays the company as contributing to community and attempting to improve the welfare of society as a whole Environmentally concerned Image •Projects a company whose products protect or improve the environment and make more effective use of scarce natural resources

Brand Naming Structure in Multi-Brand Organizations

Some companies use their corporate brand for all their products. Some give each product line a different brand name. Some combine corporate and product line brands either through sub-brands or endorsed brands.

Measuring Attitudinal Attachment

Some metrics to measure brand love: 1.Passion for the brand 2.Duration of the relationship between the consumer and the brand 3.Self-congruity (how much the brand image matches one's desired self image) 4.Memories evoked by the brand (ease in which they come) 5.Pleasure that the brand provides the consumer 6.Strength of attraction to the brand 7.Trust of the brand 8.Declaration of affect

virtual goods/services

Some of the strongest brands in recent years have been born online Online marketers need to perform satisfactorily in areas such as customer service, credibility and personality whilst creating unique: -aspects of the brand on dimensions that are important to consumers: convenience, price, variety -ways to satisfy consumers' unmet needs. -value propositions to geographically dispersed customer groups

magician

Speaks to our emotional need for amazing transformation and to see our dreams come true, to affect transformation

everyman

Speaks to our emotional need for goodness, fairness and basic decency, to fit in

ruler

Speaks to our emotional need for leadership status and security, the exert control

lover

Speaks to our emotional need for romance, beauty, style, fashion and sensory pleasure, to find and give love

creator

Speaks to our emotional need for self-expression and to create something from nothing, to innovate and build things with enduring value - take nothing, bring structure to it, to make something

sage

Speaks to our emotional need for truth, wisdom and information, to gain wisdom

jester

Speaks to our emotional need to kick back, relax, have some fun and enjoy the moment, to have fun

innocent

Speaks to our emotional need to live life "the way it was meant to be" - safe, kind, wholesome and happy, to be happy

caregiver

Speaks to our emotional need to look after our loved ones, to serve others

explorer

Speaks to our emotional need to move beyond conventional boundaries to explore and grow, to search for one's true self

hero

Speaks to our emotional need to perform at our personal best in the face of a challenge, to vanquish a foe

rebel

Speaks to our emotional need to relieve pent-up frustration by cutting loose and breaking the rules, to break the rules

Examples that didn't work - corporate behavior inconsistent with purpose: Starbucks

Starbucks' "Race Together" campaign •Designed to "stimulate conversation, compassion and action around race in America" •The plan was to invite the baristas in store to write "#Race Together" on coffee cups and hopefully generate some genuine conversation throughout the community •Starbucks' head of communications was forced to temporarily suspend his Twitter account following a barrage of attacks, and some people blasted the company for weighing in on race at all when only two of its 19 executives are black

•Other geographic associations besides country of origin are possible

States, regions, cities

brand meaning

Strategically link a host of tangible and intangible brand associations.

less vulnerability to crises

Strong brands can weather a crises and bounce back

The brand value chain

Structured approach to assessing the sources and outcomes of brand equity and the manner by which marketing activities create brand value. marketing program investment, customer mindset, market performance, shareholder value

Consumer-Based Brand Equity (CBBE)

THE DIFFERENTIAL EFFECT THAT BRAND KNOWLEDGE HAS ON THE CONSUMER RESPONSE TO MARKETING •Approaches brand equity from the perspective of the consumer •Stresses that the power of a brand lies in what resides in the minds and hearts of customers

Selecting a name: Familiarity and Meaningfulness

Tap into existing knowledge structures -It's why people, objects, birds, animals and inanimate objects that already exist are often used ; consumers can minimize their learning -Brand name may also suggest the product service or category - though this makes them restrictive as to where the brand can go

Customized Pricing

Targeting individuals with varying offers •To try to ensure that they complete a purchase Offering the same product at different prices Price according to expressed customer interest

Consumers' new capabilities

-Wield substantially more consumer power -Purchase a greater variety of goods and services -Obtain information about practically anything -More easily interact with marketers when ordering -Interact with other consumers to compare notes

sharing information and goods

Technology has offered two phenomena related to branding: -Social media platforms -Peer-to-peer sharing (lowering the need for ownership):

differentiation

-target consumers must find the POD distinctive and superior -competitors find it hard to imitate

Marketers see a long term potential if they can attract....

... a customer when young Younger generation may be more easily influenced by trends and broad cultural movements Easy for brands to "chase" youth superficially

In the military, as in any organization, giving the order might be the easiest part...

...Implementation is the real game.

Most leaders would agree that they'd be better off having an average strategy with superb execution than..

...a superb strategy with poor execution. Those who execute always have the upper hand.

Depth of Awareness is likely not the issue...

...breadth of awareness is

Recent Trend:

...marketers are supporting fewer brands. Often, marketers will choose to highlight their flagship brand as a way of casting a halo over all sub-brands in the portfolio; this puts added pressure on the family, individual and modifier brands to be clearly understood with minimal investment.

The brand insight is the ...

...most important consumer truth that underpins the brand promise •It can help a brand activate many programs and launch many ideas because it shows that the brand fully understands its consumer's mindset •Not all brands have one

Possible Roles of Brands in the Portfolio

1. To attract a particular market segment not currently being covered by other brands of the firm 2. To serve as a flanker and protect flagship brands 3. To serve as a cash cow and be milked for profit 4. To serve as a low-end entry-level product to attract new customers to the brand franchise 5. To serve as a high-end prestige product/ add prestige and credibility to the entire portfolio

Ultimate success of an extension relies on its ability to

1. Achieve Some of its own brand equity in the new category 2. Contribute to the equity of the parent brand

brand knowledge - brand awareness

1. Brand Recognition 2. Recall

10 most critical problems in the world according to millennials

1. Climate Change (48.8%) 2. War (38.9%) 3. Inequality (30.8%) 4. Poverty (29.2%) 5. Religious Conflicts (23.9%) 6. Corruption & Government Accountability (22.7%) 7. Food & Water Security (18.2%) 8. Lack of Education (15.9%) 9. Safety / Security / Well-being (14.1%) 10. Unemployment (12.1%)

ways to establish category membership

1. Communicate category benefits 2. Make the most of a product descriptor that follows the brand name 3. Exemplars

8 Secondary Brand Associations

1. Companies 2. Geographic 3. Where bought 4. Other brands 5. Characters 6. Celebrities 7. Events and Causes 8. Third-Party Seal of Approval

marketplace conditions

1. Competitive superiority: How effective are the investments of competing brands? 2. Channel and other intermediary support: How much selling effort is being put forth by various marketing partners (trade, branded partners, etc) 3. Customer size and profile: How many are attracted to the brand? Are they profitable?

5 levels of meaning for a product

1. Core Benefit Level 2. Generic Product Level 3. Expected Product Level 4. Augmented Product Level 5. Potential Product Level

Steps in Building out a successful extension

1. Define Actual/Desired Consumer Knowledge about the Brand 2. Identify Possible Extension Candidates 3. Evaluate the Potential of the Extension Candidate 4. Design Marketing Programs to Launch Extension 5. Evaluate Extension Success and Effects on Parent Brand Equity

mindshare model

1. Drive brand awareness of your brand's timeless core promise through consistent mass market communications. 2. Build brand loyalty by ensuring a range of line extensions that fits all a customers needs so she never has to leave the franchise 3. Build perceived quality by touting your brand's benefits and superiority 4. Build strong brand associations be it with a color, a benefit, an emotion

simplify decision making

1. Identify the source or maker of the product 2. expect a certain level of quality 3. lower their search costs

Criteria for choosing brand elements

1. Memorable 2. Meaningful 3. Likable 4. Transferable 5. Adaptable 6. Protectable

2 Keys to brand growth

1. Mental Availability 2. Physical Availability

why brands matter for firms

1. Provide valuable business functions 2. Increase shareholder value

Ten Commandments of Global Branding

1. UNDERSTAND SIMILARITIES & DIFFERENCES IN THE GLOBAL BRANDING LANDSCAPE 2. DO NOT TAKE SHORT CUTS IN BRAND BUILDING 3. ESTABLISH MARKETING INFRASTRUCTURE 4. EMBRACE INTEGRATED COMMUNICATIONS 5. CULTIVATE BRAND PARTNERSHIPS 6. BALANCE STANDARDIZATION AND CUSTOMIZATION 7. BALANCE LOCAL AND GLOBAL CONTROL 8. ESTABLISH OPERATIONAL GUIDELINES 9. IMPLEMENT A GLOBAL BRAND EQUITY MEASUREMENT SYSTEM 10. LEVERAGE BRAND ELEMENTS

Brand Value Chain implications

1. Value creation begins with the marketing program investment 2. Value creation requires more than an initial marketing investment: you need value transfer at each stage 3. Brand value chain provides a detailed road map for tracking value creation that can make marketing research and intelligence efforts easier

the power of archetype branding

1. archetypes can drive your entire brand strategy 2. archetype branding drives value 3. by tapping into universal motivations, you can create brand distinctiveness 4. universal motivation = large potential audience 5. archetype brands can get to a "story" more quickly

why brands matter for consumers

1. simplify decision making 2. reduce risk 3. satisfy higher order needs and desires

Choices of communication have exploded

Television, radio, billboards, transit shelters, newspapers, magazines Online video, digital banners, mobile, native, social media, search Shopping carts, shelf talkers, floor graphics, geotargeted retail ads, end caps Sweepstakes, coupons, BOGOs, FSIs, co-op ads PR, experiential, sponsorships, direct marketing, product placement, branded utility

Loss of Control of Brand Message

The Deer have Guns Brands no longer control their narrative

alternative sources of information about product quality

The Internet offers consumers new ways to learn about new products and product quality -This has reduced the reliance on brands as signals on quality -Brands now have to do more

associative network memory model

The associative network memory model is an insightful way to represent how brand knowledge exists in consumer memory. It views memory as a network of nodes and links. •Nodes represent stored information. •Links represent the strength of association between the nodes Brand knowledge is a node in memory with a variety of associations linked to it

Product mix:

The assortment of product lines made available to buyers

Brand Equity Responsibilities: Brand Equity Gatekeepers

The brand equity should be coordinated centrally. The firm should: •Establish a position responsible for overseeing the implementation of the brand charter and brand equity reports. •Ensure actions across boundaries reflect the brand spirit •Reward programs that build long-term equity of the brand

Brands have more components than products

The brand has many associations, some positive and some negative. The associations are cognitive, emotional and relational Brands have shared cultural meaning; while individuals may bring some of their own idiosyncrasies to their brand meaning, there are commonalities Consumer stories can help Brand Managers get a pulse on how consumers actually feel about a brand.

brand knowledge - brand image

The brand image is influenced by how you act and how people perceive those acts. Formed by many brand associations

Slogan definition

The consumer-facing brand promise

Continuity isn't stagnation

The core strategy and meaning of the brand should not frequently change There should be some consistency in brand elements over time •ad campaigns, packaging, distribution strategies, etc. But brands still need to adapt with the times: •Product features may come and go •Campaigns need to be refreshed •Extensions may be introduced/withdrawn

Purpose Definition

The reason for which something is done for created or for which something exists Answers the question: Why? IT'S WHY THE BRAND DOES WHAT IT DOES (other than for turning a profit)

Packaging at Point of Purchase

The right packaging can create strong appeal: •On the store shelf •Help products stand out from the clutter •"The last five seconds of marketing"

social risk

The risk of embarrassment when using a disapproved product/brand, Well-known brands often have more social approval

psychological risk

The risk that using the product may have an ill-effect on the user's mental well-being

active engagement

The strongest affirmation of brand loyalty -Occurs when customers are engaged, or willing to invest time, energy, money, or other resources in the brand beyond those expended during purchase or consumption of the brand.

Brands developed a conscience

They started taking positions and addressing some of the social concerns of their customers.

More traditional content (especially video) can also "go viral" BUT....

This is a result, not a strategy per se.

Firm-generated brand meaning

Through their online and offline marketing activities and programs, and other means, firms attempt to shape the meaning of brands with consumers.

Regional Marketing Pro/Con

Tighter regional marketing allows a marketer to tap into rich "regional" insights which may be more powerful and unifying for that group than universal human truths Downside: For national brands, advertising by region is a more expensive approach to get reach than using national (or global) marketing

2. Contribute to the equity of the parent brand

To contribute to parent equity, an extension must strengthen or add favorable and unique associations to the parent without diminishing any existing associations. Needs to have a compelling benefit while still being relevant to the parent brand as well.

3 main influences on brand personality

Tone, manner and style of consumer-facing communications/experiences, Personification elements of the identity and image associations, The personality traits of the "typical" user

Brand Elements

Trademarkable devices that serve to identify and differentiate the brand

Measuring Brand Responses

Two Big Metrics that reflect judgements and feelings: PURCHASE INTENTIONS & LIKELIHOOD TO RECOMMEND

Direct Competitors

Two or more business offering the same product or service and competing for the same market.

Indirect Competitors

Two or more businesses offer different products or services that satisfy the same general customer need.

Brand Resonance

Ultimate relationship and level of identification that a customer has with a brand •Describes the nature of the relationship •Extent to which customers feel in sync with the brand •Characterized in terms of intensity or the depth of the psychological bond that customers have with a brand

Knowing how best to use a range of channels

Understanding how online and offline communications interact

Acquiring New Customers: Building from

Universal Truths

Psychology of Pricing

Unpleasant surprises (e.g. a higher stated price than perceived price) have a greater impact on purchase likelihood than pleasant surprises Price can seem less expensive if it's •Broken into smaller units ($50/month vs $500 annually; $2 for the 10 oz vs $3 for the 18 oz) •End it with a 9 since consumers read prices left to right and don't immediately round ($49.99 vs $50)

Fun

Upbeat feelings that make consumers feel: •Amused •Lighthearted •joyous •Playful •Cheerful

Category Extension

Uses the parent brand to enter a different product category from the one it currently serves

In-app advertising

Way by which mobile marketing can help brands touch customers

5. Linking Brand Elements to Multiples Products

Ways to link elements across the product line (i.e. application of the Principle of commonality): Lexical Links Visual Links (logo placement) Logically order brands (numbers or colors)

country time core beliefs example

We believe that our youngest entrepreneurs should be encouraged not stifled or banned. Purpose: To protect the All-American rite of passage: the Lemonade Stand

AirBnB core beliefs example

We believe that travel bridges gaps between cultures and make us more accepting. Purpose: To make people around the world feel like they can belong anywhere.

Tesla brand purpose

We exist to expedite the move from a mine-and-burn hydrocarbon economy towards more sustainable energy.

Lego brand purpose

We exist to inspire and develop the builders of tomorrow

Patagonia brand purpose

We exist to use business to inspire and implement solutions to the environmental crisis.

Outline your brand's core beliefs

What does the brand "believe" in? •What is important to its users? •What is important to the leaders the brand? •What will have positive impact that will make our society or environment a better place in which to live? Purpose should flow directly from those beliefs

Brand Positioning

What is the current: •Target •Frame of reference •Points of difference/points of parity •Brand Promise •Brand Mantra

product quality

What product can do for a customer, how well the product does what it is supposed to, and how well it holds up over time

1. archetypes can drive your entire brand strategy

What to promise/consumer motivation worth tapping How to say it: language, taglines How it looks: Brand colors/fonts/art direction

associations can help build brand knowledge

When consumers do not know much about the brand, they will make decisions based on what they think about the secondary association (i.e. "Cognitive consistency") e.g. This unknown watch is made in Switzerland The Swiss make good watches Therefore, this watch must be good.

Co-branding

When two or more existing brands are combined into a joint product or are marketed together in some fashion -Also called brand bundling or brand alliances -Interest in co-branding as a means of building brand equity has increased

virtually any product with competition can be branded

Whenever consumers have a choice, "marketers" are well served by branding, to brand a product, it is only necessary to teach consumers "who" the product is

1. Achieve Some of its own brand equity in the new category

Whether a positive image can be created depends on the associations that consumers can transfer from the parent brand to the extension context, measured in terms of: 1.Salience 2.Favorability 3.Uniqueness

Principles are Applied to the Guidelines

Which products to be introduced for any one brand Growth, Survival, Synergy The number of levels of the hierarchy to use Simplicity, Clarity The levels of brand awareness and association types to be created at each level Relevance, Differentiation How much emphasis to give brand elements from different levels of the hierarchy Prominence How to link a brand elements to multiple products Commonality

Packaging Incorporating Brand Thematic Content

With more tuning out advertising, a brand can use its packaging as a communications vehicle to reinforce its brand with its consumers

Narrow down based on what your brand can offer

Within each broad cause, there are many smaller everyday causes with which a brand may have a connection or association

Types of Logos

Wordmarks, Symbols, Some are literal representations of the brand name, Some are pictorial, some try to convey brand benefits in the logo

potential pitfalls in 6 stages of persuasion

1.A consumer may not be exposed to an ad because the media plan missed the mark. 2.A consumer may not notice an ad because of a boring and uninspired creative strategy. 3.A consumer may not understand an ad because of a lack of product category knowledge or technical sophistication, or because of a lack of awareness and familiarity about the brand itself. 4.A consumer may fail to respond favorably and form a positive attitude because of irrelevant or unconvincing product claims. 5.A consumer may fail to form a purchase intention because of a lack of an immediate perceived need. 6.A consumer may fail to actually buy the product because he or she doesn't remember anything from the ad when confronted with the available brands in the store.

Brand Element examples

1.Brand Names 2.Logos/Symbols 3.URLs 4.Characters 5.Spokespeople 6.Slogans 7.Jingles 8.Packaging

emotional branding

1.Brands should create emotional ties with consumers 2. Sell the brand as a relationship partner 3. Offer touchpoints for your consumers to experience the brand

Disadvantages of extensions

1.Confuse or frustrate consumers 2.Encounter retailer resistance 3.Fail and hurt parent brand image 4.Succeed but cannibalize sales of parent brand 5.Succeed but diminish identification with any one category 6.Succeed but hurt the image of parent brand 7.Dilute brand meaning

Managerial Assumptions before extending the brand

1.Consumers have some awareness of and positive associations about the parent brand in memory 2.Some of these positive associations will be evoked by the brand extension 3.Negative associations are not transferred from the parent brand 4.Negative associations are not created by the brand extension If any of these assumptions prove false, problems may follow

Branding Approaches Available when Introducing a New Product

1.Develop a new brand 2.Apply one of its existing brands 3.Use a combination of new and existing

Mobile Marketing: Findings

1.Environments may impact the effectiveness of mobile advertising and promotions (e.g. crowded area more effective as one is more likely focused on one's phone) 2.Mobile targeting based on time and location is more effective the closer the promotion is to actual purchase 3.Targeting consumers who are closer in physical location to competitors' locations produces better results than targeting mobile promotions to consumers who are closer to the company's own locations (cannibalization) 4.Targeting consumers with mobile promotional coupons can boost overall spending, particularly unplanned spending, if the coupon requires consumers to travel farther than their planned path

Six stages of persuasion

1.Exposure: A person must see or hear the communication. 2.Attention: A person must notice the communication. 3.Comprehension: A person must understand the intended message or arguments of the communication. 4.Yielding: A person must respond favorably to the intended message or arguments of the communication. 5.Intentions: A person must plan to act in the desired manner of the communication. 6.Behavior: A person must actually act in the desired manner of the communication.

6 Rules for Building Strong Brands

1.Fully and accurately factor the consumer into the branding equation. 2.Go beyond product performance and rational benefits. 3.Make the whole of the marketing program greater than the sum of the parts. 4.Understand where you can take a brand (and how). 5.Do the "right thing" with brands. 6.Take a big picture view of branding effects. Know what is working (and why).

Global Brand Positioning Key Questions

1.How valid is the brand's "home market" mental map relevant to a new market? How appropriate is the positioning?What is the existing level of awareness? How valuable are the core brand associations, points-of-parity, and points-of-difference? 2. What changes should we make to the positioning? Do we need to create any new associations? Should we not recreate any existing associations? Should we modify any existing associations? 3. How should we create this new mental map? Can we still use the same marketing activities? What changes should we make? What new marketing activities are necessary?

From the perspective of both the firm and consumers, packaging must:

1.Identify the brand 2.Convey descriptive and persuasive information 3.Facilitate product transportation and protection 4.Assist in at-home storage 5.Aid product consumption

Stronger brand equity affects the consumer response to marketing

1.Improved perceptions of product performance 2.Increased marketing communication effectiveness 3.Greater loyalty 4.Less vulnerability to competitive marketing actions 5.Less vulnerability to marketing crises 6.Larger margins 7.More inelastic consumer response to price increases 8.More elastic consumer response to price decreases 9.Greater trade cooperation and support 10.Possible licensing opportunities 11.Additional brand extension opportunities

advantages of having strong brand awareness

1.LEARNING ADVANTAGES •Can't learn about the brand until there's a basic level of awareness 2.CONSIDERATION ADVANTAGES •Awareness is the first step in getting added to the consideration set 3.CHOICE ADVANTAGES •Brands with high awareness are more likely to get the sale, especially in low involvement categories

Increase shareholder value

1.Pricing Advantages: Brand reduce customer price sensitivity and often allow firms to charge a premium price 2.Marketing Advantages: Increases customer loyalty, improves customer retention, lowers customer acquisition costs 3.Stock Market Advantages: Brands are major intangible assets

When marketing in developing markets, consider:

1.Radically different trade conditions: the importance of bodegas, stalls, warungs, etc. in the purchase cycle 2.The need for smaller packages are lower absolute unit prices due to lower incomes and smaller houses 3.Mobile and digital strategies take on greater importance given high smart phone penetration

Brand Exploratory Steps

1.Study prior research A number of prior research studies may exist and be relevant 2.Interview internal personnel To gain an understanding of their beliefs about consumer perceptions for the brand and competitive brands 3.Conduct additional research To better understand how customers shop for and use different brands and what they think and feel about them

participation economy

1.The emergence of the Internet: •a platform for people to share and build content 2.Changes in consumer culture: •Cynicism and distrust in companies and their brand efforts •Advertising clutter

Key challenges brand managers face today

1.Unparalleled access to information and new technologies 2.Downward pressure on prices 3.Ubiquitous connectivity and the consumer backlash 4.Sharing information and goods 5.Disintermediation and reintermediation 6.Alternative sources of information about product quality 7.Winner-takes-all markets 8.Media transformation 9.The importance of customer-centricity 10.Unexpected sources of competition

tactics of emotional brands

1.Visual communication 2.Humanize the brand 3.Move from USPs to ESPs (Emotional Selling Proposition) 4.Make everything an opportunity to build the brand

what do you need to determine to position your brand

1.Your target audience 2.The competitive frame 3.Your brand's points of difference and points of parity

IMC program must be...

1.coherent and logically connected across media 2.Consistent between the elements so it feels "on brand" and "on campaign" 3.composed of complimentary pieces; nothing out of place, yet nothing duplicative 4.Build the brand long term while also achieving short term sales goals

Advertising to Sales ratio brand extensions

10%

The average American spends ______ hours and ______ min with media every day

13h 12min

advertising to sales ratio new brands

19%

Aakers personality dimensions

4 universal - Sincerity, excitement, competence and sophistication 5th personality dimension that differs by culture & market (ex. ruggedness US, peacefulness Japan, passion Brazil)

What percent of males and females aged 18-34 say they would ideally "buy everything online"?

40% males 33% females

Acquiring new customers can cost ___X as much as satisfying and retaining current customers

5 times

A _______ reduction in the customer defection rate can increase profits by ____ to ______ depending on the industry

5%, 25% to 85%

The ability to customize helps increase revenues __________: by helping to increase consumer loyalty

5%-15%

What percentage of all retail sales in the U.S. are made at Amazon?

6%

Explosion in brand exposure

6-10 thousand brands a day increased media consumption more products, brands and brand extensions are in our ecosystems

What % of consumers say they prefer extensions because of familiarity with the brand?

60%

Depending on the category, up to __% of marketing expenditures may be devoted to programs that improve brand equity but...

70%, cannot be linked to short-term incremental profits

How much time do consumers spend daily with digital devices

7h 31min

Category Extension Failure Rate?

80-90%

What % of all new products in the US are brand extensions?

80-90%

_______ of Internet users do online research prior to purchasing instore

89%

__________ of Millennials expect brands to have a Facebook presence

95%

_______ of mobile device owners search for product information from their mobile device

96%

_______ of consumers turn to a search engine like Google when they are researching a product

97%

A company-wide strategy for data usage, collection

A brand or marketing strategy should be viewed as a part of an overall data strategy

Untrademarkable brand elements

A brand's list of elements may include some assets that are more difficult to trademark, but nonetheless serve as a way to provide distinction to the brand: 9.Shapes 10.Colors 11.An Aesthetic 12.Rituals 13.A Place

Owned Media: Website

A company website is a crucial piece of the marketing mix as it often serves as the go-to source for those who seek specific product information

Sample Steps in Brand Inventory: Digital Communications Inventory

A digital inventory of brand assets may provide useful insights: 1.Notice outdated brand accounts that have fallen into disuse 2.Overlapping brand assets which can be merged or deleted 3.Existing brand accounts with information that is either inaccurate or not up-to-date 4.Particular digital and social media channels where the brand does not have a presence

market

ALL actual and potential buyers with sufficient income for, interest in, and access to a product.

Security

Ability of a brand to produce a feeling of: •Safety •Comfort •Self-assurance

Excitement

Ability of the brand to make consumers feel energized and experience something special.

Social listening to glean insights

Accessing data on consumers' conversation can help uncover information that can be useful

Price Piano

Across a range of retail channels American clothing giant PVH Corp. plays the full range of price with its clothing brands. segue to Channel

brand positioning

Act of designing the company's offer and image so that it occupies a distinct and valued place in the target customers' minds.

Line extension

Adds a different variety, a different form or size, or a different application for the brand

Guidelines to Optimize your Brand Architecture Strategy

Adopt a Strong Consumer Focus Create broad, robust brand platforms Avoid overbranding and having too many brands Selectively employ sub-brands Selectively extend brands

Corporate Image Campaigns

Ads for the corporate brand as a whole designed to improve awareness and attitudes

Search Ads

Ads that appear on search engines (i.e. Google) that are triggered by a user search •Because the audience is self-qualified, search ads enjoy a 1.91% click through (5X more than display) •Seeks to use Google as a brand-awareness tool •Advertisers pay for clicks (roughly $2 per click, with prices varying widely by industry; average click through of 1.16%) •To get top of page placement, marketers bid on certain keywords via a continuous online auction •$149 Billion spent worldwide

Paid Media

Advertisements that can be purchased on digital platforms

Brand Line

All products sold under a particular brand

Brand mix:

All the brand lines made available to buyers

E-mail marketing

An example of direct marketing that's not sexy, but can still be powerful •Requires a brand firm to segment, target, then personalize the message •Should have a powerful subject line •Mondays have slightly higher response rates than Fridays •In the absence of a really good offer, fun and engaging content piques interest •Can, and should, be tested and monitored

Types of Characters

Animated Characters Live Action Characters Celebrity Endorsers as Core Part of the Brand

Free Association: Concept Map

Another way is to structure the brand associations into conclusions made by consumers.

Experiential Marketing

Any form of customer-focused marketing activity at various touchpoints, that creates a sensory-emotional connection - Connects a product's benefits to a unique and interesting consumer experience that can be entertaining, educational, aesthetic, or escapist

Candidates for a specialized marketing and brand program

Any market segment

marketing program investment

Any marketing program investment that can contribute to brand value development (intentional or not) Includes -Product research, development and design -Marcom: advertising, publicity, PR, promotion, sponsorship -Trade or intermediary support -Employee Training

2. The Number of Levels of the Hierarchy to use

Anything beyond three levels starts to confuse

product

Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need

Recovery Strategies

Apology and Admission Bolster brand image Not Just Me Downplay the Crisis Limit the Damage Flat Out Denial Attack the Accuser

backlash to ubiquitous connectivity

As digital and electronic connectivity increases, consumers' attention is lessened and are more vulnerable to intrusions

Customizing Marketing Mix Elements in Local Markets for Global Brands: Rule of Thumb

As similar as possible. As different as necessary.

Great brands can target an age demographic but ____________ ____________

Attract Beyond

Considerations when Defining Brand Potential

BRAND VISION BRAND POSITIONING BRAND BOUNDARIES

Key Outputs of Brand Architecture Strategy

BRAND-PRODUCT MATRIX BRAND PORTFOLIO BRAND HIERARCHY

Brand Structure Options

BRANDED HOUSE SUB-BRANDS ENDORSED BRANDS HOUSE OF BRANDS

Common Metaphors Found Across Many Brands

Balance: Maintaining a state of equilibrium be it social, mental, aesthetic, psychological Transformation: Change of state or status be it physical, emotional or social. Journey: Viewing their lives with a past, present, future Containers: Keep good things in or bad things out Connection: The need for affiliation Resource: Drawing attention to life tools (skills, knowledge, physical tool or capacity) to help one achieve goals, Control: The feeling like you have agency over your own life

The Keller B's

Be: Analytical Curious Focused Integrative Creative Observant Patient Realistic

archetypes can help brands find their stories

Because archetypes already exist in our minds, they serve as a short cut to storytelling. Plus they are anchored against the needs that drive purchase behaviors. Great brands know this and can get to motivating brand promises and brand stories more quickly. Promises and stories anchored onto something universal and which spur action.

Adaptability

Because of a need to remain contemporary, most brand elements need to be updated to make them appear more modern and relevant.

Strategy requires decisions

Better for the marketer to do it rather than leaving it to chance from a junior copywriter at an ad agency, an Amazon reviewer, or in-store salespeople

collective unconscious

Born with a set of shared memories/ideas with which we all identify regardless of culture or time period.

Transfer of Brand Knowledge

Brand & Other Entity Awareness Attributes Benefits Images Thoughts Feelings Attitudes Experiences

brand reinforcement strategies

Brand Awareness Brand Image

Quantitative Research can be used to help define...

Brand Awareness Brand Image Brand Responses Brand Relationships

Three Major Steps to Implement a Brand Equity Management System

Brand Bible Brand Equity Report Brand Equity Responsibilities

Drivers of Brand Engagement

Brand Characteristics Message Characteristics ConsumerCharacteristics Medium Characteristics

Factors to forming brand image

Brand Identity Product Differentiation, Quality and Relevance Where it can be bought Pricing Secondary Brand Associates Advertising and Promotion

Knowing the "Why" allows you to come up with a strong

Brand Insight

Some brands answer one more question

Brand Purpose (WHY the brand exists)

Owned Media

Brand assets created within social networks by an organization

Selecting a name: Deriving Meaning from Made Up Names

Brand associations can still be derived from original names Morpheme: Smallest linguistic unit having meaning The sounds of letters take on meaning Plosives: The letters b, c, d, g, k, p, and t -- Add directness Sibilants: Sounds like s and soft c -- Conjure up romance and serenity

the importance of customer-centricity

Brand equity can be vulnerable to destruction if product and service claims are not verified by actual experience, "word of mouse"

Brand Extension Opportunities

Brand extension is a new product introduced under an existing brand name Category v Line Extension

brand imagery

Brand imagery depends on the extrinsic properties of a product or service Many kinds of intangibles can be linked to a brand; the four main ones are: user imagery, purchase & usage imagery, personality & values, history, heritage & user experiences

Brand Salience

Brand salience is the degree by which your brand is thought of or noticed by consumers when they make a purchase decision.

Leveraging a corporate brand may or may not be useful

Brands built as small, handcrafted brands on the forefront of sustainable craftmanship would be wise to keep their corporate owners less known.

Meaningfulness

Brands elements take on all kinds of meaning with either descriptive or persuasive content. Two important criteria: 1.Telegraphing the general product function 2.Telegraphing the brand's attributes/benefits

Y&R's Brand Asset Valuator

Brands get slotted on the Power Grid 1.New/Unfocused Low scores all around 2.Aspiring/Niche High Differentiation, Low Knowledge 3.Leadership High Scores all around 4.Commodity Well known brands with little difference and lower esteem

sense of community

Brands may take on a broader meaning by conveying a sense of community -Social phenomenon in which customers feel a kinship or affiliation with others associated with the brand

Fortifying the Brand

Brands need to FORTIFY the strengths consistently. If brand managers only LEVERAGE the brand's strengths and stop fortifying it, the brand can diminish and stop yielding such valuable benefits •Wither the brand manager that kills the Golden Goose

Branded utility

Brands offering something of value to advance the brand position/image/feelings/resonance.. ex. Michelin Star, Ray-Ban Bright Light, Sprite Shower

2. archetype branding drives value

Brands that strongly align with a single archetype have a 97% higher MVA and a 66% greater EVA than brands weakly aligned with an archetype.

brand indentity

Build an association of the brand in customers' minds with a specific product class, product benefit, or customer need.

Capturing Market Performance

COMPARATIVE Assesses the effects of consumer perceptions and preferences on consumer response to the marketing program HOLISTIC Attempts to estimate the overall summary value of the brand

4 Keys to reinforcing a strong brand

CONSISTENCY OVER TIME CONTINUITY IN BRAND MEANING PROTECT YOUR SOURCES OF BRAND EQUITY FORTIFYING THE BRAND

Changing Packaging

Can be expensive; but potentially cost-effective compared with other marketing communication costs: -Signal a higher price, or to more effectively sell products through new or shifting distribution channels -When a significant product line expansion would benefit from a common look -To accompany a new product innovation to signal changes to consumers -When old package looks outdated

experience goods

Can only really evaluate through product trial ex. tires

Packaging Innovations

Can provide at least a temporary edge on competition and boost demand Can lower costs as firms strive for a better carbon footprint

Category extensions can fail when...?

Categories are not connected Established brand equity doesnt translate Moving to an "Off Brand" Category Bad ideas

Brand Characteristics

Certain brands lend themselves to higher engagement (brand with symbolic or niche positions; publicly consumed or hedonic products)

Measuring Brand Relationships

Characterized in terms of brand resonance and measures for following key dimensions: BEHAVIORAL LOYALTY ATTITUDINAL ATTACHMENT SENSE OF COMMUNITY ACTIVE ENGAGEMENT

Geographic Locations

Cities, states, regions, and countries actively promote through advertising, direct mail, and other tools

Brand Identifiers

Company or product names and logos.

brand recognition

Consumer's ability to confirm prior exposure to the brand when given the brand as a cue

ConsumerCharacteristics

Consumers more likely to engage with brands if they have a desire for self-expression, prior loyalty with the brand, or a need to create

recall

Consumers' ability to retrieve the brand from memory when given: -The product category -The needs fulfilled by the category, or -A purchase or usage situation as a cue

content marketing

Content marketing is a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience

Brand Relationships

Convert brand responses to create an intense, active loyalty relationship between customers and the brand

Evaluating a piece of an IMC, Criteria for Inclusion

Coverage Contribution Commonality Complementarity Conformability Cost

5. Characters (Licensing)

Creates contractual arrangements whereby firms can use names, logos, and characters of other brands to market their own brands for some fixed fee

IMC can contribute to brand equity by

Creating awareness of the brand Linking POP and POD associations to the brand in consumers' memory Eliciting positive brand judgments or feelings Facilitating a stronger consumer-brand connection and brand resonance

Branded events and experiences

Creating brand experiences helps bring the brand to life and acts like a one-on-one piece of marketing Very much "on trend" Unlike "sponsored" activities, the brand "owns" these events; they are staged exclusively for the brand When done well an "owned" event will generate "earned" media

Faster decision making across functions

Cross-functional coordination is increasingly important

Perceived Quality

Customers' perceptions of overall quality or superiority of a product compared with an alternative and/or with respect to its intended purpose •How a consumer sees certain characteristics define their attitudes toward a brand's quality (and often, of the brand as a whole): •primary ingredients and supplemental features •product reliability, durability and serviceability •style and design

Guidelines for Designing a Brand Hierarchy

Decide on... 1. Which products to be introduced for any one brand 2. The number of levels of the hierarchy to use 3. The levels of brand awareness and association types to be created at each level 4. How much emphasis to give brand elements from different levels of the hierarchy 5. How to link brand elements to multiple products

Corporate Image Dimensions: Corporate Credibility

Depends on three factors: •Corporate expertise: Are they competent? •Corporate trustworthiness: Are they honest? •Corporate likability: Do I want to give them my business?

Naming Strategies include

Descriptive of the product function Evocative of a certain feature Convey personality Be completely synthetic Reflect the founder

why segment?

Different consumers within your brand franchise may have: different needs different brand knowledge structures different perceptions different preferences Choosing your segment affects your brand promise.

Why is marketing to different ethnic groups effective?

Different ethnicities have unique characteristics, tastes, and preferences (including, in some cases, language) such that brands which are customized tend to be more appealing.

Corporate Brand Equity

Differential response by consumers, customers, employees, other firms, or any relevant constituency to the words, actions, communications, products, or services provided by an identified corporate brand entity

DRTV Ad

Direct Response TV is an ad with a call to action to buy and a mechanism to facilitate purchase (e.g. 1-800 #, URL).

program quality

Distinctiveness Relevance Integrated Value Excellence

Things to consider for global advertising

Diversity in casting Universal human truths Visual communication over wordplay The power of Emotion

market segmentation

Divides the market into distinct groups of homogeneous consumers who have similar needs and consumer behavior

likeability

Do consumers find it: •Aesthetically appealing •Likable verbally and visually •Inherently fun and interesting For marketers, is it rich with creative potential?

If you're not committed to your purpose...

Don't do it. For a Brand Purpose to work, you need to dig deep into •The roots of the brand •The motivations behind the leadership •The motivations, pain-points & beliefs of the people you serve • Don't settle on a purpose that is not: •Authentic •Relevant •Contextual •Actionable

Without strategy, execution is aimless. Without execution, strategy is useless.

Dr. Morris Chang

Unparalleled access to information and new technologies

- Technology has created vast amounts of information; marketers have more access to consumer data - Over time, as technology becomes more standard, brand marketers may find opportunities to design better brand experiences for their customers

Brand image as a differentiator

- in categories in which the product itself is only marginally differentiated, but the brands have significantly different appeal to different users - when users often use the label as a signal to others

market performance

- price premiums - price elasticities - market share - brand expansion - marketing cost structure - brand profitability

Examples that didn't work - nice message wrong brand: Axe

-Brand for a generation was all about helping The Guy get The Girl •Ads were clever, unapologetic and effective •Winds of societal change made the new brand team wonder if it was time for change •Axe made a radical move with a new Brand Purpose: To help guys celebrate their individuality and be as attractive as they can be •Problem: It was the OPPOSITE of what the brand had been saying for years; hence it struggled to stick

Brand Audit Steps

-Brand inventory (supply side) -Brand exploratory (demand side)

3 non-mutually exclusive ways to bolster brand image

-CHANGE OR CLARIFY THE TARGET MARKET -REPOSITION THE BRAND -CHANGE BRAND ELEMENTS

Celebrity Endorsement potential problems

-Celebrity endorsers can endorse so many products that they lack any specific product meaning OR are seen as opportunistic or insincere -There lacks a reasonable match between celebrity and product -Celebrity endorsers can get in trouble or lose popularity

Provide Feedback to a Parent Brand

-Clarify brand meaning -Enhance the parent brand image -Bring new customers into the brand -Revitalize the brand -Permit subsequent extensions

Types of Direct Marketing

-Direct Mail -Catalogs & ecommerce -E-mail -Infomercial/DRTV -Telemarketing

When considering a price a consumer may use a frame of reference

-External Frame of Reference: A posted "Regular Price" -Internal Frame of Reference: •"Fair price" (what the product "should" cost) •Typical Price •Last price paid •Upper-bound price and Lower-bound price (the most/least a consumer would pay) •Competitive Prices •Expected future price •Usual discounted price

The Goals of All Measurement

-Figure out where we've been -State where we are now -Help chart where to go

A brand's website should

-Fit a brand's image and personality -Be easy to navigate -Provide the type of information that your consumers seek as opposed to being choc-a-block filled with random acts of digital cleverness -Be designed to the optimal user experience -Be a significant source of on-going investment

Celebrity endorsers should have

-High level of visibility -Rich set of potentially useful associations, judgments, and feelings

Pricing strategy has huge impact on your brand perceptions

-High price implies quality and exclusivity •Lower price implies value and accessibility (read popularity) •Luxury brands that discount lose cache •Discount brands that try to charge up create confused and disgruntled consumers Pricing is relevant to the category

Fortifying

-Image and reminder advertising -Charging full price -Branded Experiences -Sponsoring events -Supporting Causes

Facilitate New Product Acceptance

-Improve brand image marketing programs -Reduce risk perceived by customers -Increase probability of gaining distribution/trial -Increase efficiency of promotion spend -Reduce costs of introductory and follow-up marketing programs -Avoid the cost of developing a new brand -Allow for packaging and labelling efficiencies -Permit consumer variety seeking within your brand

Product line:

A group of products within a category that are closely related because they perform in the same manner (i.e. sold to the same group, in the same outlets, within a given price range). A product line may include different brands, a single family brand, or a brand that has been extended.

Pros of Direct Channels

A means to gain control over the selling process and build stronger relationships with customer •Can showcase the entire line and create a "pure experience" •Potential conflict with existing retail channels

Corporate Branding

A strong corporate brand can positively affect the views of its products.

Free Association: Mental Map

A useful outcome of qualitative research: •portrays all salient brand associations and responses for a particular target market •may help with positioning exercises

Media and cultural influences

A variety of new information intermediaries also play a significant role in co-creating brand meaning. Media channels may themselves contribute to brand meaning. Further, cultural influences are continually evolving and shaping customer conversations and contributing to brand meaning.

winner takes all markets

A winner-take-all market is likely to permeate other industries and categories outside of sports and entertainment - 3 major

unexpected sources of competition

The digital world allows easier entry into new markets, Indirect competitors increasingly acting like true brands

media transformation

The erosion and fragmentation of traditional advertising media has coincided with the emergence of interactive and nontraditional media, promotion, and other communication alternatives. Marketers are spending more on nontraditional forms of communication

brand image

The idea/ impression/ image that customers have in their minds about the brand. the sum of the brand identity and associations

Finding the ideal brand positioning/promise

The ideal brand positioning aims to achieve congruence among four key considerations: -What customers currently believe about the brand -What the firm is currently saying about the brand -What customers will value in the brand -Where the firm would like to take the brand

product relevance

The intersection between what you think is important and what interests them. Does it satisfy a genuine need? Does it make life easier or better for its consumers? Is it up to date and current?

Its all about salience

The job of brand communications is to simply build and reinforce a set of brand assets to fuel mental availability. -Those assets are what separates your brand from others and how consumers remember and recognize you -Brands simply need to constantly trigger consumers' memory to stay in the consideration set; having strong distinctive assets helps -Loyalty is underpinned by salience not love/hate; to encourage brand loyalty a brand must stand out so that buyers can easily, and without confusion, identify it

Channel Strategy

The manner in which a product is sold has a profound impact on the brand equity -The number of places where the brand is available will affect popularity of the brand -The types of places where something is bought affects prices (and margin) of the brand

The Brand Product Matrix

The matrix is a graphical representation of all the brands and products sold by the firm Often the first step when undertaking an architecture problem

Logos

The original commercial emojis •Play a critical role in building brand equity and brand awareness: •Indicate origin, ownership, or association •Range from corporate names or trademarks written in a distinctive form, to abstract designs that may be completely unrelated to the corporate name or activities •Like names, abstract logos can be distinctive and recognizable, but may lack the inherent meaning of a more concrete wordmark logo

Permission Marketing

The practice of marketing to consumers only after gaining their express permission •Some claim consumers have come to expect—but not necessarily appreciate—interruptions from traditional advertising sources; as such, their effectiveness wanes •Technology is making it easier to avoid messaging •Permission marketing means that a consumer has shown interest, making a more useful connection for the marketer •Messaging should be anticipated, personal and relevant