New Stretegic Brand Management - Chapter 6

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<ol><li> 1. Chapter 6: The New Brand Management Produced by Kevin Almeida </li><li> 2. Contents The end of Brands as we new them What will tomorrows world be? The new key words of Strategic Brand Management Targeting for the New Strategic Brand Management Adapting for new market realities Brand needs brand content Produced by Kevin Almeida </li><li> 3. The 10 key principles of Strategic Brand Management 1. A vision that is driven by the desire to change the customers life. No brand should be without a strong intangible component. 1. Nest all variants and sub-brands under these mega-brands, to nurture them. 2. Act as a leader and be passionate about increasing the standards of the category. 3. Sustain the brands as a constant flow of innovations in line with their positioning. 4. Create direct ties with your end customers to deepen the link and the attachment. Produced by Kevin Almeida </li><li> 4. 10 key principles (Cont..) 6. Deliver personalized services. 7. Reward customers involvement to make them become active promoters of your brand, not simply loyalists. (WOM) rate of promoters amongst the customer base is directly correlated to the growth rate of the company of the brand. 8. Encourage communities that share of values, on the internet or elsewhere. 9. Quickly globalize the brand and its products. 10. Be responsible: big is not beautiful anymore, and consumers have become cynical about size. Produced by Kevin Almeida </li><li> 5. The limits of a certain type of Marketing; One dimensional strategy; there comes to be an imbalance between the additional cost of marginal process, and perceived needs. Product development model seems to work for certain brands: Gillette Razor , P&amp;G Incremental improvements are no longer predictable or meaningful; on the other hand the increase in price. Produced by Kevin Almeida </li><li> 6. The end of brands as we knew them Traditional definition Distinguishing name or symbol, proof of the authentic origin of products, which differentiated them from those of different suppliers. (Aaker, 1991) Later Brands were conceptualized as associations that add value to those already evoked by the product itself. (Keller, 1998) Things go awry when a famous name is badged on an average product, exploiting the gullibility of the masses. This is an easy way to make financial profits by mass prestige brands. Produced by Kevin Almeida </li><li> 7. What will tomorrows world be? In tomorrows world consumers will have to live with economic, political and social parameters bearing on their lives. Economic disequilibrium Political disequilibrium Financial disequilibrium Ecological disequilibrium Demographic disequilibrium Produced by Kevin Almeida </li><li> 8. The co-existence of four mentalities Four mentalities have been identified, each one with its value hierarchy, mode of conduct, behaviors and type of relationships. (Bonnal, 2008) 1. Tradition I melt into my community 2. Material Success Individuals acquire some freedom from the group 3. Individualism The individual is the center of his/her own life 4. Re-Alliance Asking about the links again Produced by Kevin Almeida </li><li> 9. What are tomorrows brands? Apple was created in 1976. What makes Apple so loved is; 35 years of unchanged, meaningful high goals. Consistency in delivery. Disruptive innovations. Optimism and peacefulness. Holding values and never compromising with them, even when under pressure. Epitomizing the company spirit and seeming to have the strategic touch. Produced by Kevin Almeida </li><li> 10. Brands and Price Produced by Kevin Almeida </li><li> 11. Beyond the brand essence: Brand Engagement The mantra of the traditional brand management is the DNA and genes of the brand. Brand essence is a static concept. (If one doesnt engage consumers, people are less passionate and feel less concerned). A brand has no difficulty commanding a higher price if it moved by something other than selling products. Produced by Kevin Almeida </li><li> 12. Why does the brand exist? BRANDING Associating a promise or benefit with a name through repetition of customer direct experience and communication. CHOICE THEORY To make consumers choose your brand, commenting good about your products and how they will get benefited. Moving away from cognitive static models of branding To energize and social models of branding. Brands should be conceived of and managed as social crusade. Produced by Kevin Almeida </li><li> 13. Targeting for the new strategic brand management The Crusaders who naturally identify with the cause or crusade of the brand. Nike Youth sub-culture living in the ghettos. (Just do it) Absolute Vodka the New York art gay community Fans are proselyte consumers. Advocates are also called evangelists. Both are identified by the net promoter score (NPS). Produced by Kevin Almeida </li><li> 14. From Brand Activation to Brand Activism Modern brand management talks about Brand Activation. Values do not exist unless they are activated and today. Produced by Kevin Almeida </li><li> 15. Adapting to new market realities The Facets The rise of the shopper A revolution is taking hold of lifestyles in our modern societies The consumer (The Marketers interest) writes the list of products and brands to buy. It is the shopper who decides on the spot. Markets are fragmenting and volume too The segment remains a valid notion at a macro economic level; The car makers create a platform corresponding to each segment, on the basis building different models each aiming at different fragments. Produced by Kevin Almeida </li><li> 16. Media Fragmentation Normal advertising communications now face a real problem in reaching targets. People are mostly online or on the phone or on their plays station. Ideally TV has to re-demonstrate its ability to be an audience aggregator. Sport is an ideal means for reuniting the exploded audience. Produced by Kevin Almeida </li><li> 17. With the internet, the consumer has seized power Some key figures are useful depict the new world that brands the inhabit; More mobile phones are sold world-wide than television The premier digital camera are mainly phone brands now. Nearly 20% of internet users give their positive opinion on dedicated internet sites. The internet is no longer visionary or prophetic: it is easy, practical, abounding. Blogs have become the truth of the market, the true consumer magazine. Brand websites. Produced by Kevin Almeida </li><li> 18. The power of Communities It is no longer consumers who build brands, but communities. (Bombay Sapphire, Apple) Community Marketing Segmenting is a marketing abstraction designating people with the same profile or the same expectations. Community is a living group. A Community exists, lives, grows and has an identity. The community expresses and brings together, it lives through social medias. Produced by Kevin Almeida </li><li> 19. The power of business models The brand here is not a self-sufficient asset. By itself it can do nothing: it is therefore conditional. It only produces its effects in interaction with the business model. Produced by Kevin Almeida </li><li> 20. Produced by Kevin Almeida </li><li> 21. The Enlarged Scope of Brand Management From Transactions to Relationships Traditionally marketing focused on consumer behaviour . Marketing research aimed at identifying attributes that predict purchase. Segmentation Share of requirements, shared loyalty and CRM. Relationship marketing is a financially driven concept. (Based on the value a customer brings to the company: profitable customers should receive repeated attention). Produced by Kevin Almeida </li><li> 22. From purchase to satisfaction and experiential delight Shift towards post-purchase phenomena is the focus on product / service satisfaction. A product is always consumed in a context. The nature of this context affects the degree of this satisfaction that the customer reports. Bonding through aspirational values Through brands intangible value they help consumers to forge their identities. Specify non-product based values such as; Vision and Mission are typical sources. Produced by Kevin Almeida </li><li> 23. Brand Communities New forms of behaviour have emerged through which brands are enacted, that is, they eventually live their values with consumer communities. Building brand communities is now part of the scope of brand management (Hagel, 1999) Four drivers of e-communities (Feather, 2000); internet based, transaction based, relationship based or fantasy based Produced by Kevin Almeida </li><li> 24. Brands need Brand Content Brand Content is a new paradigm (Bo and Guevel, 2009) and aims at creating an editorial strong experience. [Michelin Story Page 141] Gives content to brands, as well as depth and emotion. This content has to drive attention and become viral. Intrusive Marketing is almost dead, Brand Content is now a necessary to get in contact with the customer who walks in search of interesting content of brands. Produced by Kevin Almeida </li><li> 25. How co-branding grows the business? Fundamentally its a response to the need for continual growth. Finding a partner with which to co-create, this is the area of alliances, partnerships and the networked economy. Typical situations that lead into co-branding Increase the chances of success for a brands extension When the brands image makes it difficult to communicate To develop a product line that is often sold Response to the fragmentation of the market Produced by Kevin Almeida </li><li> 26. Re-Cap Produced by Kevin Almeida The end of Brands as we new them What will tomorrows world be? The new key words of Strategic Brand Management Targeting for the New Strategic Brand Management Adapting for new market realities Brand needs brand content </li><li> 27. QUESTIONS Produced by Kevin Almeida </li><li> 28. THANK YOU Produced by Kevin Almeida </li></ol>