brand strategy

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Brand StrategyBrand Strategy


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Brand StrategyBrand Strategy

Developing Brand Vision

Establishing Brand Position

Fulfilling Brand Contract

Communicating Brand Position

Measuring RoBI


Brand VisionBrand Vision

A clear articulation of the strategic,

financial, and brand goals that

management has created for the brand

A first step to strategic screens as to

where the brand can and cannot go


Brand VisionBrand Vision

Provides a vision that forces

management to articulate what they

want the brand to "do" for the

organization over the next five years,

relative to brand value, revenue, and

profit contributions


A brand's positioning is A brand's positioning is the place in consumers'

minds that you want your

brand to own—the benefit you

want them to think of when

they think of your brand.


A strong brand position means the brand

has a unique, credible, sustainable, and

valued place in customers' minds.

Good positioning gives you the direction

required to focus the organization and focus

your strategic efforts.


A good positioning is a single idea to be

communicated to your customers.

It revolves around a benefit that helps

your product or service stand apart from

the competition.


Disney

Wal – Mart

Fedex

McDonalds

Apple

Google

Toyota

Family Fun Entertainment

Low Prices and Good Values

Guaranteed Overnight Delivery

Food and Fun

Innovation

Simplicity

Reliability


A well-crafted brand positioning has three

primary components:

• A definition of the target market you wish to pursue

• A definition of the business your company is in or

the industry or category it competes in

• A statement of your point of difference and key

benefits


The Five Principles of The Five Principles of

Effective PositioningEffective Positioning

Fit :Fit : Seek to leverage strengths of

existing brand position

Value :Value : Focus on the perceived benefits

that customers value, as determined by

the customer model

UniquenessUniqueness : Go where the

competitors are not.


The Five Principles of The Five Principles of

Effective PositioningEffective Positioning

SustainabilitySustainability : Maximize the length of

time this positioning can be owned

within the competitive set

CredibilityCredibility : Get a credible fit between

who you are and the supplier predicated

by the customer model.


A Brand Contract is A Brand Contract is a list of all promises the brand

makes to customers. Such a

contract is executed internally,

but it is defined and validated

externally by the marketplace.


Brand Contracts can

and should change

over time. New

promises can be

added, other promises

can be updated, and

irrelevant promises can

be deleted.


A Brand ContractA Brand Contract is a critical piece of the

brand position because it helps to further

define marketplace perceptions and

expectations and forces managers to be

honest with themselves.


In addition to positive promises to customers, a

Brand ContractBrand Contract can contain negative promises

or attributes. It is important to build on the strong

brand promises and mitigate the negative ones.


Starbucks' Implicit Brand ContractStarbucks' Implicit Brand Contract

• Provide the highest quality coffee available on the market today

• Offer customers a wide variety of coffee options as well as com

plementary food and beverage items

• Have an atmosphere that is warm, friendly, homelike, and

appropriate for having a conversation with a good friend or

reading a book

• Recognize that visiting Starbucks is as much about the

experience of drinking coffee as it is about the coffee itself


Successful Brand-Based Successful Brand-Based

CommunicationsCommunications

• Use all communication strategies to help

achieve your corporate strategy and brand

vision.

• Let your brand positioning largely determine

the right communications strategy to execute.

• Use an integrated marketing communications

strategy to get maximum return from all dollar

investments.


Some Metrics to Measure Return on Brand Some Metrics to Measure Return on Brand

Investment:Investment:

• Brand name knowledge, awareness, Brand name knowledge, awareness,

recognition, recallrecognition, recall: measures strength of the

brand as reflected by customer's ability to

identify the brand under varying conditions

• Contract fulfillmentContract fulfillment: measures the degree to

which your brand is upholding its Brand

Contract




• Acquired customersAcquired customers: counts customers

claiming they have come to your company based

on the strength of the brand

• Customer loyaltyCustomer loyalty: measures the degree to

which customers continue to purchase your

brand and how long that loyalty has lasted


• Financial valueFinancial value: reports the financial value of

your brand in the marketplace

• Price premiumPrice premium: finds the percentage of price

premium your brand is able to command over

private-label brands, as well as key competitor

brands




Source of Reference:

Scott M. Davis, Brand Asset Management, Jossey

Bass.

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wellcrafted brand positioning