Contemporary Brand Management

Johny K. Johansson Kurt A. Carlson

Georgetown University, McDonough School of Business

d)SAGE

Los Angeles | London | New Delhi Singapore | Washington DC

Contents

Preface Viii

PART I. BRANDING FUNDAMENTALS 1

1 HOW BRANDS WORK 2

What Is a Brand? 3 Identity, Image, and Personality 6 What Brands Do for Consumers 10 What Brands Do for Firms 18 Summary 21

2 BRAND EQUITY AND BRAND VALUE 28

Brand Equity Defined 29 Brand Value Defined 30 The Brand Equity Pyramid 31 Measuring Brand Equity 34 Measuring Brand Value 36 Reach Versus Depth 40 Loyalty and Customer Lifetime Value 42 Growing a Strang Brand 43 Summary 45

3 BRAND POSinONING 50

Positioning Elements 51 The Positioning Map 54 Identity, Image, and Position 58 Selecting the Target Position 62 Disruptive Positioning 64 Traditional and Digital Media 66 Social Media 68 Tracking Brands in Social Media 72 Media Pros and Cons 73 Summary 74

4 BUILDING A NEW BRAND 80

The Foundation 81 Brand Name 83 Brand Logo 87 Brand Slogans 89 Spokesperson 90 Campaign Flanning 92 Media Choice 94 Event Sponsorship 97 Product Placement 98 Tracking Results 100 Summary 102

PART II. BRANDING STRATEGIES 107

5 MANAGING AN ESTABLISHED BRAND 108

Managing Market Penetration 109 Product Strategies 114 Corporate Social Responsibility 116 Managing Competitive Response 119 Defending the Brand 124 Managing the Communication Mix 128 Summary 130

BRAND EXTENSION 136

Why Brand Extensions Are Common 137 The Brand and Its Products 139 Brand Extension Pros and Cons 141 New Product Acceptance 142 Parent Brand Value 144 Successes and Failures 145 Parent Brand Extendability 147 The Brand-Product Fit 147 Umbrella Brands 153 Sub-Brand or New Brand? 155 Research for Brand Extensions 157 Summary 159

7 INTERNATIONAL BRAND EXPANSION 164

The Global Web 165 Brand Adaptation 167 Brand Licensing 172 Global Branding 174 The Success of Global Brands 175 The Global Advantage 177 The Local Advantage 179 From Global Toward Local 181 Threats to Global Brands 182 Brand Equity at Home 184 Growing Brand Value 186 Summary 187

8 BRAND ACQUISITUM AND PORTFOLIOS 192

Acquiring Brands 193 Changing Names 197 What to Acquire? 200 The Portfolio Problem 203 Strategie Brand Roles 206 The Conglomerate Portfolio 208 Rebranding 210 Brand Divestment 212 Summary 214

PART III. NEW BRANDING APPLICATIONS 219

9 SUMMARY AND EXTENSIONS 220

Place Branding 221 Personal Branding 225 Service Branding 226 Experiential Branding 227 Brand Love 229 Brands as Social Currency 231 Brand Simplicity 232 Branding and Design 234 Concluding Comments 236

References 240 Index 248 About the Authors 259