20130226 brand management chapter 2 iba 45 e

Brand Management

Session 2: Brand Equity and Brand Manager

Zeeshan Kingshuk Huq

Guest Faculty

zeeshan.huq@gmail.com

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

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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?

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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

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How long does it take to build a brand?

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BRAND MANAGER

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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.

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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

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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

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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

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QUESTIONS AND ANSWERS