brand challenges and opportunities; · brand challenges and opportunities; ! ... brand resonance...
TRANSCRIPT
brand challenges and opportunities;
!- staying modern / current - economic climate - consumers have become more savvy (due to overload of information) - increased competition - being different is harder - greater accountability - social issues, environmental awareness and responsibility !!!Strategic brand management process:
!
!3 models for building brands:
!1. brand positioning model: describes how to establish competitive advantages in the minds of
customers in the market place 2. brand resonance model (CBBE pyramid): describes how to take these competitive advantages
and create intense, active loyalty relationships with customers for brands 3. brand value chain model: describes how to trace the value creation process to better understand
the financial impact of marketing expenditures and investments to create loyal customers and strong brands
3. ‘Official’ brand communications !favourability of brand associations: created by convincing consumers that the brand will satisfy their wants and needs - DESIRABLE: associations that are desirable to consumers: relevant, distinctive and believable - DELIVERABLE: successfully delivered by the brand !uniqueness of brand associations: associations that are not shared with competing brands (points of
difference) !!BRAND RESONANCE PYRAMID (CBBE PYRAMID)
!Brand identity: !Salience: a brand must have sufficient “mind share”, and also come into the mind at the right times
and places > depth of awareness: how easily customers can recall or recognize the brand > breadth of awareness: the range of purchase and consumption situations where the brand comes to
mind !Brand Meaning: !Performance Dimensions: - Primary characteristics and supplementary features - Product reliability, durability, and serviceability - Service effectiveness, efficiency, and empathy - Style and design - Price !Imagery Dimensions: - user imagery
• Demographics
• Psychographics - Usage Imagery - History, Heritage and Experiences - Brand Personality - Functional Benefits
- Relate to a brand’s ability to solve a specific problem - eg. Vmoto scooter, economical, ease of parking; eg. Lean Cuisine, Quick to prepare, tasty,
healthy, low calories
- Symbolic Benefits - Reflect underlying needs for social approval or personal expression and self-esteem - e.g. Lexus cars, Mont Blanc pens, Omega watches
- Experiential Benefits - The sensory pleasures (sight, taste, sound, smell or feel), variety and cognitive stimulation
gained through consumption - e.g. coca cola
!Brand Response: !Judgement Dimensions: - Brand Quality
- Value - Satisfaction
- Brand Credibility - Expertise (competent, innovative) - Trustworthiness (dependable) - Likeability (fun, interesting, and worth spending time with)
- Brand Consideration - Relevance
- Brand Superiority - Differentiation
!Feelings Dimensions: - Love - Warmth - Fun and Excitement - Security - Social Approval - Self-respect
!Brand Resonance: Intensity and Activity Dimensions: - Levels of relationship:
- L1: Behavioural loyalty - frequency and amount - L2: Attitudinal attachment - “i love this brand” - L3: Sense of community - belonging, friendship, family, kinship - L4: Active engagement - die hard fans, they become the brand marketing arm !
!!
BRAND POSITIONING (L3) !positioning: the act of designing the company’s offer and image so that it occupies a distinct and valued place the target consumers minds !brand positioning guidelines : - 2 key issues in arriving at the optimal competitive brand positioning:
- defining and communicating the competitive frame of reference - choosing and establishing points of parity and points of difference ‘ !Competitive frame of reference: - 1. Communicate category benefits: directly communicate the category you belong to (eg
toothpaste that witens teeth, headache medicine that acts fast ) - 2. compare yourself to exemplars (the best in their category) / associate yourself with those
categories - 3. use product descriptors !Choosing POP’s - Category POP’s: necessary to have to belong to a category - Competitive POP’s: features shared by competition - negate the uniqueness of a competitors brand !Choosing POD’s - Desirability criteria (consumer perspective) - Deliverability criteria (firm perspective) !negatively correlated POP and POD !e.g. Light Beer and Taste, Low price and quality !strategies to reconcile POP and POD - establish separate marketing programs
- e.g. Head & Shoulders, sepparate campiagn for shine and dandruff - leverage equity off another equity
- e.g. budget airlines getting celebrities to fly with them - re-define the relationship from negative to positive
- e.g. apple, user-friendliness and power were negatively correlated in the business world > campaign to associate the two !!!