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Brand Strategy Course Syllabus - Fall 2013

MKTG-GB.2365.01

Professor: Mickey Farley Contact: mfarley@stern.nyu.edu Phone: 203.216.4787 Office hours: After class and by appointment

What do the world’s top brands have in common?

Their management recognizes that a brand is a strategic asset that provides a

sustainable advantage over competition and is therefore intimately linked to the business model and business success.

They have a deep understanding of their brand and its values and develop and execute brand-building strategies that result in real brand differentiation and relevance and unique levels of customer engagement, loyalty and advocacy.

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INTRODUCTION: The definition of a brand has evolved over the last few decades from a “distinguishing name or symbol, proof of the authentic origin of products which differentiate them from those of different suppliers” (Aaker 1991), to a set of perceptions and “associations that add value to those already evoked by the product itself” (Keller 1998). But even this definition does not capture the power and meaning of what today’s global brands have in common – think of Apple, Coca Cola, Virgin, Google, Facebook, Starbucks, Zappos, Dove, Red Bull, BMW, and more. A more broad definition of the brands of tomorrow include “symbolizing a unique and strong ‘value proposition’; moved by deep authentic and long term values; being flawlessly incarnated into products and services that change people’s lives; being brands that one can meet, interact with and experience through people and places and whatever mode (digital or bricks and mortar); and being very ethical” (Kapferer 2012). This evolution suggests that there is shared ownership of the brand with its consumers and it creates new challenges for brand stewards in today’s highly competitive marketplace. The brand strategy principles and concepts developed over the last few decades are an essential foundation for all potential future brand managers. This course will provide this foundation, but will also engage students in the dialogue about brands and brand strategy for the next generation of brand managers. This course will review the key concepts and principles of strategic brand management across categories and their application for the brand manager. In particular, this course will cover branding basics, the benefits of a brand to consumers and to the company, brand equity, positioning, identity, design; creating, sustaining and growing brands through innovation and marketing; brand portfolio strategy, brand architecture and platforms; brand extension, repositioning and revitalization; measuring brand strength, valuation; brand values, activation and creating advocacy. DRAFT

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COURSE OBJECTIVES: This course is designed to familiarize students with the recent evolution of brands and brand strategy, and with the principles and practices in the development of brands and branding strategies. Specific objectives are:

1. To understand brand basics and why branding is strategic. 2. To learn the principles of brand building - creating a brand and developing

effective and innovative brand strategies to launch, maintain and grow successful brands and brand portfolios.

3. To learn and apply the concepts and tools necessary through case examples, class discussions and assignments.

4. To actually use the brand building strategy principles to develop a new or revised brand strategy for a real company.

5. To participate in group work sessions and teams to become acquainted with the importance of teamwork and collaboration that is critical to brand building success.

COURSE DESCRIPTION: This Brand Strategy course will introduce you to the basics of branding, the power of brand equity and delve deep in to the theory, concepts and practices of brand strategy from brand positioning to activation in the challenges of modern markets. The course approach uses a combination of lectures, textbook reading, cases, group/team project, and class discussion and guest speakers from industry. Classes will be interactive and collaborative. Class lectures will review Brand Strategy theory, concepts and principles with a strong focus on their application through examples of brands in the marketplace (Apple, Kellogg, Virgin, SoBe, Coca Cola, Jack Daniels, Harley, JC Penny, Toyota Scion, Target Stores, Goldfish, Xerox, etc.). You will also be assigned to search for examples to share with the class.

Note: This is a SAMPLE of the potential syllabus and may be revised.

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COURSE SCHEDULE (tentative):

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COURSE MATERIAL: Required materials:

• Strategic Brand Management; Building. Measuring and Managing Brand Equity –Kevin Lane Keller – Fourth Edition 2013

• Lecture notes will be posted on blackboard and distributed at the beginning of every class.

• Packet of case studies and articles available in the bookstore will include the following: HBR Case studies – Dove, Swatch, Apple, L’Oreal, Red Bull, Burberry, Bono’s “RED”. Articles - Win the Brand Relevance Battle and then Build Competitor Barriers, David A. Aaker; Branding in the Digital Age David Edelman; Design Thinking and Innovation at Apple - Thomke, Feinberg

During the semester we will discuss current brand examples and relevant articles from various publications including the Wall Street Journal, New York Times, Wired, Fast Company, Advertising Age, etc. These articles will relate current events to the concepts taught in class. I will assign you to bring examples and articles also. COURSE WEB SITE: A course web site will be available through NYUClasses. This site contains the course syllabus. Other important course material like power point presentations, handouts, special announcements, assignments, and guest speaker information will be posted during the semester. COURSE GRADE: Your course grade is based on the following:

1. Class participation 25% 2. Case Exercises – 3 write-ups (individual) 30% 3. Team Brand Strategy Project: 45%

All students are expected to participate fully in both individual and group activities. The class will contribute to evaluation of the group presentations, and your team members will evaluate your participation in group project activities. 1. CLASS PARTICIPATION: There will be plenty of time for you to contribute to class discussions. You’ll be graded based on your attendance and the quality of your contribution, not the amount of time you demand in the discussion. This means coming to class thoroughly familiar with the assigned reading and, therefore, prepared to raise questions, to open discussion, to identify topics of interest in the reading, and actively engage other students in the discussion.

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2. CASES: Cases are descriptions of real-world business situations that provide opportunities to define and discuss brand strategies. Case analyses will illustrate how brand strategy principles and concepts apply to these complex situations. Analyzing cases promotes your decision-making capabilities by developing a process of thinking. Typically, there is no single “right” answer to a case, but there are many weak answers resulting from inadequate analysis. Case discussions also provide opportunities to develop your communication skills. The success of our case discussions is largely up to you. Good case discussions involve interactions among students. My role will be to introduce the case, monitor the general direction to address key issues and then facilitate the discussion, rather than direct the discussion. You collectively must raise relevant issues and discuss. I will help synthesize the different perspectives and form a framework for decision-making. Case discussions are based solely on the material presented in each case. Please do not collect any post-case information. Our emphasis will be on the decision-making process at the time of the case rather than on the decision outcome. Since managers must constantly make decisions without all the information they desire, being able to make decisions under these circumstances is a critical skill. In preparing cases, assume that you are a marketing manager or outside consultant who has been given responsibility for the situation described in the case. Do not focus solely on a description of the facts in the case, rather focus on the following three factors: statement of the problem(s) or decision(s) to be made; description of your decisions or recommendations; supporting logic and analyses. Your recommendations should be based on quantitative and qualitative analysis of case data. Your analysis should anticipate potential objections to your recommendations and illustrate its superiority over alternative recommendations. . Case Assignments – Brief write up (Individual assignment) There will be 3 required case write-ups. They should be a short write-up (1 to 2 pages, single spaced). For each case, I will identify the 2 or 3 specific issues for you to address (these will be posted on NYU Classes at least a week in advance). You will be expected to apply the concepts we have learned via readings, lectures and class discussions to prepare the following:

1. Restate the issue/question. 2. Present your answer with supporting facts/rationale. A paragraph for each

element of the issue may be appropriate. 3. You should provide a brief Executive Summary up front or a Conclusion at the

end to summarize your net impression. These write-ups should be done individually. You may discuss them with your group members prior to writing them up. But each of you should prepare your own write-ups.

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3. TEAM BRAND STRATEGY PROJECT: You will work with a group of 5 to 6 students throughout the semester to act as a branding consultant to develop recommendations for a new or revised brand strategy for an existing company applying the concepts learned in the course. Your objective is to prepare a compelling and well thought through Brand Strategy Proposal, which you will present to the class as if they are the management of the company and you are asking for their approval and funding. The Team can select a “client” with a new or existing brand that appears to have a strategic brand issue (e.g. opportunity or challenge) – new, struggling or declining. This may involve a brand extension or a sub-brand decision; developing a new brand positioning; revitalizing a tired brand; or revising a brand strategy in the face of new competition. (see attached for some preliminary ideas) We may have “real” corporate clients for these team projects – Pepperidge Farm and NuTek salt – will be decided by 9/9. If so, your team can select or be assigned a “client” project and will work with the corporate professionals as you progress through the project.

Team Brand Strategy Project Schedule (Tentative) 9/10 Project Teams identified. Team proposals due. The professor must

approve all projects. 9/11 – 10/14 Brand Situation Assessment and develop Key Insights and identify

Challenges and Opportunities Prepare written summary – hand in on 10/14

W/o 10/14 Project Teams meet with Prof Farley 10/18 – 10/23 Develop Preliminary Brand Strategy Proposition elements

Prepare written summary – hand in on 10/21 for review 10/23 Project Teams present to class for discussion & input

10/24 – 11/12 Qualitative consumer, client, customer research to get feedback and refine 11/13 – 12/5 Develop Brand Strategy Proposition (may include)

1. Brand Positioning 2. Brand Platform

3. Brand Strategies 4. Brand Activation/Marketing 5. Communications Program Prepare final presentation

W/o 11/18 Project Team work shops with Prof Farley 12/4 – 12/9 Final Presentations to class (and potential clients)

12/9 Final Written Presentation due Team Project Brand Strategy Proposition deliverables will be “client” specific and detailed in the project proposal. Note: This is a SAMPLE of the potential syllabus and may be revised.

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