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TRANSCRIPT
Brand Audit
Establishing Brand Mantras
3.1
3.2
Brand Positioning Guidelines
Two key issues in arriving at the optimal
competitive brand positioning are:
Defining and communicating the competitive
frame of reference
Choosing and establishing points-of-parity and
points-of-difference
3.3
Defining and Communicating the
Competitive Frame of Reference
Determine category membership.
State its point of difference in relationship to
other category members.
3.4
Choosing POP’s & POD’s
Desirability criteria (consumer perspective)
Personally relevant
Distinctive and superior
Believable and credible
Deliverability criteria (firm perspective)
Feasible
Profitable
Pre-emptive, defensible, and difficult to attack
Competitor films
What is the differentiation in each
brand?
3.5
3.6
Core Brand Values
Set of abstract concepts or phrases that
characterize the five to ten most important
dimensions of the mental map of a brand
Relate to points-of-parity and points-of-
difference
Mental map Core brand values Brand mantra
3.7
Brand Mantras
An articulation of the “heart and soul” of the brand
Short three- to five-word phrases that capture the irrefutable essence or spirit of the brand positioning and brand values
3.8
Designing the Brand Mantra
The term brand functions describes the nature of
the product or service or the type of experiences
or benefits the brand provides.
The descriptive modifier further clarifies its nature.
The emotional modifier provides another
qualifier—how exactly does the brand provide
benefits, and in what way?
3.9
Designing the Brand Mantra
Emotional
Modifier
Descriptive
Modifier
Brand
Functions
Nike
Authentic
Athletic
Performance
Disney
Fun
Family
Entertainment
Fun
Folks
Food
3.10
Internal Branding
Members of the organization are properly aligned
with the brand and what it represents.
Crucial for service companies
3.11
Brand Audit
Externally, consumer-focused assessment
A comprehensive examination to assess the health
of the brand, uncover its sources of equity, and
suggest ways to improve and leverage that equity
3.12
Brand Audit
It includes:
brand vision
mission
Promise
values
position
personality
performance
3.13
Importance of Brand Audits
Understand sources of brand equity
Firm perspective
Consumer perspective
Set strategic direction for the brand
Recommend marketing programs to maximize
long-term brand equity
3.14
Brand Audit Steps
Brand inventory (supply side)
Brand exploratory (demand side)
Brand Audit Steps
Brand Inventory
Brand elements
Supporting
marketing
programs
Profile of
competitive brands
POPs and PODs
Brand mantra
Brand Exploratory
Awareness
Favorability
Uniqueness of
associations
Customer based
equity model
3.15
Brand Audit
Brand Inventory Suggests the bases for
positioning the brand
Offers insights to how brand
equity may be better
managed
Assesses consistency in message
among activities, brand
extensions, and sub-brands in
order to avoid redundancies,
overlaps, and consumer
confusion
Brand Exploratory
Uncovers knowledge
structures for the core
brand as well as its
competitors
3.16
3.17
Suggested Brand Audit Outline
Brand audit objectives, scope, and approach
Background about the brand (self-analysis)
Background about the industries
Consumer analysis (trends, motivation, perceptions, needs,
segmentation, behavior)
Brand inventory
Elements, current marketing programs, POPs, PODs
Branding strategies (extensions, sub-brands, etc.)
Brand portfolio analysis
Competitors’ brand inventory
Strengths and weaknesses
3.18
Brand Audit Outline (Cont.)
Brand exploratory Brand associations
Brand positioning analysis
Consumer perceptions analysis (vs. competition)
Summary of competitor analysis
SWOT analysis
Brand equity evaluation
Strategic brand management recommendations
15.19
Guidelines for Building Brand Equity
Mix and match brand elements
Create a rich brand image and high perceived quality
Adopt value-based pricing strategy
Consider a range of distribution options
Mix marketing communication options
Leverage secondary associations
15.20
Guidelines for Measuring Brand Equity
Formalize the firm’s view of brand equity
Conduct brand inventories
Conduct consumer tracking studies
Assemble results of outcome measures
Establish a department to oversee the implementation
15.21
Guidelines for Managing Brand Equity
Define brand hierarchy
Create global associations
Introduce brand extensions
Clearly establish the roles of brands in the portfolio
Reinforce brand equity over time
Enhance brand equity over time
Identify differences in consumer behavior in different market segments
15.22
Characteristics of Strong Brands
Managers Understand brand meaning and market appropriate products in an
appropriate manner
Properly position the brand
Provide superior delivery of desired benefits
Employ a full range of complementary brand elements and supporting marketing activities
Embrace integrated marketing communications and communicate with a consistent voice
Measure consumer perceptions of value and develop a pricing strategy accordingly
Establish credibility and appropriate brand personality and imagery
Maintain innovation and relevance for the brand
Strategically design and implement a brand hierarchy and brand portfolio
Implement a brand equity management system to ensure that marketing actions properly reflect the brand equity concept
15.23
Seven Deadly Sins of Brand Management
1. Failure to understand the full meaning of the brand
2. Failure to live up to the brand promise
3. Failure to adequately support the brand
4. Failure to be patient with the brand
5. Failure to adequately control the brand
6. Failure to properly balance consistency and change with the brand
7. Failure to understand complexity of brand equity measurement and management
15.24
Industrial and B2B Branding
Adopt a corporate or family branding strategy
Link non-product-related imagery associations
Employ full range of marketing communication
options
Leverage equity of other companies that are
customers
Segment markets carefully and develop tailored
branding and marketing programs
15.25
Guidelines for High-Tech Branding
Establish brand awareness and rich brand image
Create corporate credibility associations
Leverage secondary associations of quality
Avoid overbranding products
Selectively introduce new products as new
brands and clearly identify the nature of brand
extensions
15.26
Guidelines for Service Branding
Maximize service quality
Employ a full range of brand elements to enhance brand recall
Create and communicate strong organizational associations
Design corporate communication programs that augment consumers’ service encounters and experiences
Establish a brand hierarchy using distinct family or individual brands as well as meaningful ingredient brands
15.27
Guidelines for Branding Retailers
Create a brand hierarchy consisting of the store
as a whole as well as individual departments
Enhance the manufacturer’s brand equity by
communicating PODs
Establish brand equity at all levels of the brand
hierarchy
Create multichannel shopping experience
Avoid overbranding
15.28
Guidelines for Small Business Branding
Emphasize building one or two strong brands
Focus the marketing program on one or two key
associations
Employ a well-integrated set of brand elements that
enhances both brand awareness and image
Design creative brand-building push campaigns
Leverage as many secondary associations as
possible
15.29
Guidelines for Online Branding
Don’t forget the brand building basics
Create strong brand identity
Generate strong consumer pull
Selectively choose brand partnerships
Maximize relationship marketing
15.30
Future Brand Priorities
How will branding change in the coming years?
What are the biggest branding challenges? What
will make a successful “twenty-first-century
brand”?
15.31
Measuring Brand Equity
Marketers of successful twenty-first-century
brands will create formalized measurement
approaches and processes that ensure they
continually monitor their sources of brand
equity and those of competitors.
15.32
Managing Brand Equity
It will be essential in building strong twenty-first-century brands to align internal and external brand management. Internal brand management ensures that employees and
marketing partners appreciate and understand basic branding notions and how they can affect the equity of brands.
External brand management requires understanding the needs, wants, and desires of consumers and creating brand marketing programs that fulfill and even surpass consumer expectations.
Companies must also align bottom-up and top-down marketing management .