20130226 brand management chapter 2 iba 45 e
DESCRIPTION
TRANSCRIPT
Brand Management
Session 2: Brand Equity and Brand Manager
Zeeshan Kingshuk Huq
Guest Faculty
2 3/13/13/ZKH
We read about the the relationship in last class
§ Brand is a promise
§ Product is the system of delivering this promise
§ Advertisement proposes and makes you believe this delivery of promise
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BRAND EQUITY
4 3/13/13/ZKH
But what is a good brand made of?
§ Brand Equity is the difference between the value offered by a product / service by the company the value perceived by the consumers Is Mercedes expensive?
5 3/13/13/ZKH
Brand Equity consists of …
Brand Loyalty
Brand Awareness
Perceived Quality
Brand Association
Reduced marketing cost
Trade Leverage
Attracting new customers
Time to respond to competitive threats
Anchor to which other associations can be attached
Familiarity-liking
Signal of substance
Consideration
Reason to buy
Differentiation / Position
Price
Channel-member interest
Extension
Easy interpretation
Reason to buy
Create positive image
Extension
6 3/13/13/ZKH
How long does it take to build a brand?
7 3/13/13/ZKH
BRAND MANAGER
8 3/13/13/ZKH
9 3/13/13/ZKH
What are the expertise / role of a Brand Person?
§ S/he is the parent of the brand, agency is the mentor that grooms the brand
§ Skill-set needed: Creativity A natural observer – gathers insights Networking, resourcefulness People-savvy Rational, analytical ability Capability to write succinctly Attention to details
§ S/he is the sole responsible person for the growth of the brand – there’s nothing s/he can escape from. Rest of marketing department supports her/him.
10 3/13/13/ZKH
Brand Position Statement
§ Brand Name
§ Brand Consumer Benefit
§ Brand Personality
§ Product / Range / Description
§ Major Competitors
§ Target Consumers
§ Reasons to Believe the Benefit
§ Packaging
§ Advertising Property
11 3/13/13/ZKH
Brand Person provides a brief
§ A good brief is a reflection of how well the brand person understands and owns his/her brand
§ Brief means brief Concise – no more than 2 pages Simple and Clear – for anyone, free from jargons Positive and truthful – inspiring, driving excellence
§ Outline
§ Should be presented in person to the agency, including the creative team, preferably with product demo
12 3/13/13/ZKH
Brief to Agency § Why do we want new advertising?
§ Who are we talking to?
§ What effect should the advertising have on the consumer? What does s/he think now? What would we like her to think/do?
§ The story – what is the single most persuasive benefit we can offer?
§ Why should the believe it?
§ What are the executional considerations?
§ What are the practical considerations, e.g. timing, advertising properties, competitive reaction, regulatory aspects, etc
§ Authority
§ Budget strength
13 3/13/13/ZKH
QUESTIONS AND ANSWERS