brand report card- brand management
DESCRIPTION
Strategic brand management ArticleTRANSCRIPT
Brandreport card
Harvard Business review
Kevin Lane Keller
Building and managing brand equity- Priority
10 characteristics of worlds strongest brands
Report card- systematic way to grade performance
Strength and weakness
ten traits
1Brand excels at delivering the benefits customers truly desires
Product, attributes, brand image, many other tangible and intangible factors
E.G . Starbucks
appeal to all senses
starbucks India
ten traits
2The brand stays relevant
Brand equity = Quality + Intangible factors
Intangible factors : User imagery Brand personality Feeling
Example : Gillette – “The best a man Can get”
ten traits
3Pricing is based on consumers perception of value
Example : P&G
Too less
EDLP
ten traits
4The brand is properly positioned
Blend POP and POD
Example: 1. Mercedes-Benz and SonyProduct superiority Vs Service
2. Calvin- Klein and Hardly DavidsonUser imagery Vs Performance
ten traits
5Brand is consistent
Continuity in marketing activities
Example: Michelbob1970: “where are you going, it’s Michelbob”“Weekends are made for Michelbob”“Put a little weekend in your week”“The night belongs to Michelbob”“Some days are better than others”“A special day requires a special beer”
ten traits
6The brand portfolio and hierarchy make sense
Brand portfolio, Boundaries
Example : BMW- Well subbranded cars- 3,5,7 series
GM- struggle with protfolio“” A car for every purse and purpose”Candillac, Oldsmobile, Buick and Pontiac
ten traits
The brand makes use of & coordinates a full repertoires of marketing activities to build brand equity
Why, how product can be used, by whom, where and when
Example : Coca Cola media advertisement Sponsorship Merchandise interactive media
7
Atlanta museum
ten traits
The brand’s manager understand what brand means to consumer
Brand and its core association
Example : Gillette
Razors, blade- GilletteElectric razors- braunOral care – Oral B
8
ten traits
The brand is given proper support and that support is sustained over the long run
Foundation brand equity requires depth& breadth of awareness, strong, favorable association
Example : Shell Oil- cut back in advt .and marketing hit them badly
Coors Brewing- shift in focus
9
ten traits
The company monitors sources of brand equity
Brand inventory- How brand has been marketedBrand exploratory- what does or could brand mean to consumerBrand equity management system
Example: Disney- Overexposure Reinforce ”fun, family, and entertainment”
10
Conclusion• Power of brand lies in consumers mind what they have experience and learned over time
• Brand equity- strategic bridge consumers beliefs and attitude grant permission to future marketing program and tactics
• marketer who build strong brand have embrace the concept and use it to fullest to clarify, implement and communicate their marketing strategies