Brand Management.docx

Brand management process: Chapter 1 o

Identifying and establishing brand values and positioning: What is the value of the brand, high end or law, affordable or expensive? Or day to day brand, impulse purchase or niche market. It depends on how I want my brand to be in the market. Thus, work really hard to achieve the position I want in the market.

Mental maps: any type of qualitative research; association technique: finding the right associations Competitive frame of reference: competitors might change depending on the situation or time or place 

Points of parities and disparities:

1. Parities: category need: common denominator to be in that category, e.g. detergents remove stains, dirt 2. Disparities: differences from other brands in the category Core brand values: bringing down the mental maps’ associations to 5-6 words, preferably emotional Brand mantra: bringing down the 6 words to 3 words: they should be: emotional, descriptive, functional, e.g. Nike: authentic, athletic, performance o

Planning and implementing a marketing communication plan:

Mixing and matching brand elements: logo, colors, symbol Integrating marketing and communication activities: 4Ps, marketing plan, how are you going to promote your product? Leveraging secondary associations: adding more value (secondary) company name, country of origin, add value, use characters, events, sponsorships. Must add something memorable and never be forgotten o

Measuring the brand performance:

Brand value chain: stages that the company will make that will add value to its products. Brand auditing: checking if everything the brand has done is right Brand tracking: where the products are being sold, which sizes, promotions, prices Brand management system: brand values, positioning, distribution system, competitors, commercials, who has the authority o

Growing, sustaining, liquidation:

Brand + product matrix: in each brand, how many products?

Brand portfolios “explanation of the brand” + hierarchies (importance of the brand) feeling, needing the product. Brand expansion: category extension: volumes, sizes Brand reinforcement + brand revitalization

Customer based brand equity Chapter 2 Important questions: what makes a brand strong? How can we build a strong brand? We have to understand customer needs and wants. Perception of a product is important. Naomi Klein: (her book) stupid manufactures, that are harming the brands by exaggerating, people are losing their trust to their brands. Brand equity: what you give the brand. it the value. how the person perceives the brand. A bridge between the past and future. (the experience about how you feel about it in past and now) choosing LV not GUCCI 1. Differential effects: people’s experience, our brand should be different, emotional or tangible. 2. Brand knowledge: images, thoughts, feelings, opinions and perceptions about our product. Brand awareness and brand image 3. Consumer response to marketing: distributing our product, the consumer should be able to find it. 2 weeks after the product is distributed, you should always find the product if its successful. It should be available. Availability is important that is also how people learn, hear, and feel about the product Brand awareness: people getting familiar with the product. Recall: if someone spoke about a brand and you start to think that yes you saw it somewhere. unaided, and aided Recognition: if you see the logo and directly know it. Advantages of brand awareness: repeated exposure: developing preferences for things, because your familiar. Repetition and experience are important Brand image: what the brand gives you. Impressions of product, perception the product gives people. Example Air Arabia we have cheap tickets. It is how you image emotional, general impressions of a product. Strong-favorable-unique Desirable and deliverable Explicit: directly. implicit indirectly Brand position: what a brand occupies in the mind of people. If it’s cheap or expensive good or bad. I prefer emirates airplanes because its expensive but good service. It should be one sentence, because people will not remember

Brand name: adidas Category: sport shoes Target: sport oriented Consumer benefit: performance, health Reasons and why. Ex; hierarchy level Points of parity: means that the brand offers necessary category features. A bank

will not be suitable, for example, unless it offers adequate ATM service.

Watch tv commercials and try to write their position Brand management week and chap 3 Brand models: are the models which should be mentioned in the 3rd step of brand process. It’s a kind of measuring the effectiveness of the model. It gives an idea of what a brand stands for. The idea came from the practioneers from adv people, they were very theoretical models. Brand asset valuation: there model was a tough ppt, started in 1993, till today they covered half a million customers in about 50 countries. 5 pillars to focus for a brand: 1. Differentiation: checking how much the brand is different from other brands. 2. Relevance: if it’s the right product. 3. Esteem: how much the brand is respected by people 4. Knowledge: what the customers know about my brand 5. Energy: (3 4 years ago it was included): they realized some brands were successful with only 4 pillars, how long is the brand in the market. Millward brown (z model): loyalty model or leaders, it shows the way how customers become loyal to the brand 1. Advantages: better than the competitors 2. Performance: if they buy the product they will check if its good/bad 3. Relevance: suitable for them 4. Presence: customer knowing the brand in the market Then after the bonding starts

Boy meets the girl model it means boy tries to date the girl, the girl must be aware that the guy is there, then check his performance and if he’s better than the others Aoker 1. 2. 3. 4.

Brand loyalty: Brand awareness: Perceived quality: Brand associations: (least used method) how people feel when a brand is spoken or talked about

Salience model: Resonance it means any sound or noise is composed of waves and they make a vibration. Brand and consumer are at the same line, how much they know the brand Judgment (quality) product features, quality, reliability and feelings (emotions)if it’s fun for them or what type of feelings they get from brand Performance and imagery: User profile on the emotional side (how do they by the product and which occasions they use our product, history and awareness) Salience: what type of needs, and how do they know about our product? How will it meet their needs? How functional it meets What psychological needs are met by our brand? Some ques: page 123 How reliable is the brand? How stylish do you find the brand? How much do you look or feel of the brand? 

Brand value chain: page 128

stages that the company will make that will add value to its products.

Value stages: Marketing programmer investment Communications Product Distribution Employees Etc,, u invest in the marketing program Why we do that? We invent to have a customer mindset  1. 2. 3. 4.

To have “customer mindset” Awareness: being aware of our product Associations: right associations: Attitudes: valid attitudes and get rid of negative attitude Attachment/loyalty: be loyal and satisfied

 Multiplied 1. Clarity: it should be clear 2. Relevance: should be relevant to people 3. Distinctiveness: should be distinctive 4. Consistency: should be consistency We must have all these positive in order to achieve the customer mindset. Market performance 1. Premium price: 2. Low price elasticity 3. Market share 4. Expansion success 5. Profitability

BUT Competitive reaction Channel support Customer size

Flanking str Main group and main brand then great another brand at the flank with a lower price So, create another brand (Loreal or Maybelline) with lower price and never enter a war with high prices because you never know who will win. High% of losing because you cannot make a profit with high prices. Brand communities: to have a loyal customer this stage helps a lot Example: Harley Davidson, u will automatically become a member of bikes. Which they provide them with a “Tow” if you have a problem with a car And free hotels, the mission is to enjoy. To be successful you must make an event and invite everyone on it.

Chapter 4 choosing brand elements to build brand equity Brand element: or brand identity. Are those trademarkable devices that serve to identify and differentiate the brand. Such as brand name, URL, logos, symbols, characters, and slogans. Criteria for choosing Brand elements: 1. Memorable: easily recognized and recall. Brand element that promote that goal are inherently memorable and attention getting and therefore facilitate recall or recognition in purchase or consumption settings. 2. Meaningful: descriptive and persuasive.  2 important criteria are how well the brand element conveys the following: 1. General information about the function of the product or service. 2. Specific information about particular attributes and benefits of the brand.  The first dimension is an important determinant of brand awareness and salience, the second one Is of brand image and positioning. 3. Likable: fun and interesting, rich visual and verbal imagery, aesthetically pleasing 4. Transferable: within and across product categories, across geographic boundaries and cultures 5. Adaptive: flexible and updatable 6. Protectable: legally and competitively. Marketers should: 1. Choose brand elements that can be legally protected internationally 2. Formally register them with the appropriate legal bodies 3. Vigorously defend trademarks from unauthorized competitive infringement.  Brand names: is a fundamentally important choice because it often captures the central theme. Customers can notice the brand name and register its meaning or activate it in memory in just a few seconds.

URL: UNIFORM RESOURCE LOCATORS: specify locations of pages on the web are also commonly referred to as domain names Logos and symbols: are often easily recognized and can be valuable way to identify products although consumers may recognize them but be unable to link them to any specify product or brand. Slogan: are short phrases that communicate descriptive or persuasive information about the brand. They often appear in advertising but can play an important role on packaging and in other aspects of marketing programs. Jingles: are musical messages written around the brand. Packaging: is the activities of designing and producing containers or wrappers of a product.

Chapter 5 Designing marketing programs to build brand equity

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Personalizing marketing: (create loyal customers) based on preferences, the more you personalize the more successful. Also known as one-toone marketing or individual marketing, is a marketing strategy by which companies leverage data analysis and digital technology to deliver individualized messages and product offerings to current or prospective customers. Example: when you send an email to people inviting them u must personalize the email to them.

1. Experiential marketing: (improve the brand image) how I can increase the time and consumer spending. Example: Starbucks is the founder of the term of experiential marketing. Promotes a product by not only communicating a product’s features and benefits but also connecting it with unique and interesting consumer experience. Events: Focus on the events that people spend on the brand.

2. Relationship marketing: customer loyalty, interaction and long-term engagement. It is designed to develop strong connections with customers by providing them with information directly suited to their needs and interests and by promoting open communication   

Mass customization: customizes for masses, it is mainly making products to fit the customer’s exact specification is an old one, but advent of digital age technology enables companies to offer customized products. One to one marketing (create loyal customers) (knowing the customers very well) Permission marketing: the practice of marketing to consumers only after gaining their express permission, was another influential perspective on how companies can break through the clutter and build customer loyalty. Ask customers if they would like to receive a message.

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Product strategy: what people hear about a brand and what they think about it After marketing: to achieve the desired brand name, product strategies should focus on both purchase and consumption 1. User manuals: 2. Customer service programs

Acquiring a new customer: try to maintain your customers

1. Quality and price: are a perception. Price is a very interesting subject, example: fair price. 2. Value pricing: the most effective pricing, what the customer is ready to pay for the product, it depends on how the customer values the product. 3. Cost plus pricing: you put a profit margin on the cost (20-25% margin) 4. EDLP: everyday low price, instead of promotion, you decrease the price.

1. Distribution is exclusive when only certain retailers are given the option of carrying a product in its store. 2. Intensive distribution: think if you cannot find a coffee in a store, you’ll look in another shop. It’s a must. 3. Selective: you find products in special stores. Direct channels: companies Indirect channels: channels used in retailors and holes.

Chapter 6 integrated marketing comm Hierarchy model 1. 2. 3. 4. 5. 6.

Exposure: communication must be seen and heard Attention: getting attention of the customers Comprehension: to understand it Yielding: action and response Intention: must plan to act according what we want. Behavior: finally, to decide to buy

Roster and percy o High Involvement: based on which high involement such as cars, and houses (high risks) where low involvement: are things that are seen in supermarkets and have low risks on decisions Informational Transformational high involvement (buying a house)

How many square meters, how much is the oil, how far it is to bus station, is it near to any supermarket

Example: a car, promising people to change there life.

Low inv

Example: shampoo (informational) they tell us it will prevent dandruff Shampoo(transformational) this product will change your hair and looks

o Informational: 1. give information, show it 2. solving a problem by showing the product (benefits)

3. keep it simple, concise, use a demo 4. advertising does not need to be liked o Transformational 1. Get the right emotion, safety, happiness, affection 2. Advertising need to be liked Vaughn: l: learn, f: feel, d: do First you should learn then feel and provide testing, do is the buying it or not. thinking

feeling

high

Informational case (HOUSE) L-F-D

Affection (JEWERLY, COSMETICS) F-L-D

Low

FOOD, HOUSEHOLD ITEMS D-L-F

Self-satisfaction Cigarettes, vodka, drinks D-F-L

Advertising is the first tool Advertising is not to entertain it’s to sell.

News appeal: somebody is coming to the advertising o Emotional: Safety, security, fear, love, affection, happiness, joy, nostalgia, sentiment, excitement. o Types of headlines: 1. Benefit headlines: shows the benefit of using this product 2. News or information headline: Gellit example, give information about it, typical informational. 3. Provoker headline: 4. Question headlines: what makes our TA smarter 5. Command headlines: obey the ad, o Radio: 1. First 5 seconds mention the brand name with the problem or benefit Advertising is based on repetition o Tv and radio 1. Straight announcements 2. Testimonials: by testi we don’t mean fake people but REAL PEOPLE 3. Demonstration: show the product by one demo 4. Musical: jingle 5. Slice of life: showing true part of the life, put problem and the solution. 6. Lifestyle: showing the consumer the lifestyle, let consumers identify themselves with the product

 Sales promotion o 1. 2. 3. 4. 5. 6. 7. 8.

Value increasing: you offer something to consumers. Discount pricing: decrease the price for a certain period of time Money of coupons: 10% with newspaper, magazines or hands Payment terms: easy installments Refunds: pay back if don’t like Guarantees: 2 3 years and if u pay extra 5 years Multipack: buying the product attached with it something Quantity increase: 10% more Buy backs: bring you product and exchange

o 1. 2. 3. 4. 5. 6. 7.

Value adding: adding a value to the product Samples: free samples Limited editions: packages lasting for 2 months Value packaging: selling one product with a complementary item Product trial: trying products In pack gifts: example: kinder for kids Gift coupons: coupons Clubs/ loyalty programs: one-year ticket if u buy a product, become a member in a club 8. Prize draws: promotional mechanics

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Why do we use headlines? To reach new customers is through sampling and sales promotions. Reduce distributor risk Reward the behavior: being a member to a club but not getting anything in return to the loyal customers. Always focus on a scheme to attract customers Induce action: in of the month getting 50% on a product Preserve cash flow: make a promotion and bring cash Improve efficiency: when you increase the sales, the company will manufacture more and make more efficient products

 Push and pull(customers): you push a lot of products to retailers, so you have to do a promotion to be sold in the market to reduce risks.

Criteria 4  How to measure the communication plan: 1. Coverage: how many people I want to cover 2. Contribution: how much adv might communicate to the sale, if the is the goal. 3. Commutability: check on how I can give a message to each tool if is this message ethical or not. Some might be not common 4. Complimentary: advertising and sales promotion complement each other, such as ADV AND PR, event marketing and PR, but event and sponsorship ARE NOT 5. Conformability: advertising is more effective, how each is affecting consumers, maybe advertising or sales promotion, so compare the effectiveness 6. Cost: check the budget

Leverage secondary association 1. Company: IBM, the company name brings a leverage to the brand such as Philips (family brand name) 2. Country or geographic location: French wine sometimes a location brings a leverage 3. Channels of distribution: decide to sell the product in a certain channel, things u find them in one shop and can’t be found in another 4. Co -branding: two brands coming together, McDonalds and coco cola/ pasta companies with sauce companies. Aligns 5. Characters: nestle, nesquke using characters 6. Spokesperson a person who spokes on behalf the brand, opinion leaders, influencers etc. 7. Events: red bull events give a leverage 8. Others third parties (chapter 7) such as this product is recommended by a dentist Public relations PR is becoming more important than advertising. Stakeholders: are involved in the company 1. Employees 2. Financial group 3. Shareholders 4. Government 5. Customers PR: Plan activity, can’t control the messages, but in advertising the messages can be controlled Credibility in PR is higher than ADV 4 different types of models: not important 1. The press agentry 2. The public information 3. Two way asymmetric 4. Two way symmetric Corporate PR for the company

Marketing PR for the brand Course related: companies are doing something for the benefit of the product PR techniques: 1. Press release: information about the brand, it should be up to date 2. Press conference: talking to people in a meeting (top media, journalist) 3. Interview: CEO Crisis management: 1. Economy crisis 2. Managerial crisis 3. Consumer crisis Sponsorship it is increasing 1. Two parties are making a contract 2. Helps improve the brand awareness 3. Fit between the sponsors Two types dimensions 1. Function based: piano and shit 2. Image based: focuses on improving the image, becoming a sponsor of an exhibition Sponsorship Personal selling: expensive communication tool Marketing based:

Questions: for the finall 1. What’s the brand mantra of M&S? expresses the brand in 3 words. Brand essence, brand promise, positioning statement, brand statement. 2. What is the pop, pod of M&S against Beymen? Related to the case only 3. What should be position of M&S? women size, brand name, target market, and the benefit they provide to the customer. 4. What should be the pricing strategy of M&S? value pricing, cost plus pricing and EDLP and more, customers find them expensive 5. How can you achieve brand resonance? How to make them a loyal customer, by events, sales promotions 6. How can you apply permission and experiential marketing for M&S? when a customer buys from M&S, the worker must ask them if they would like to receive a message and experiential marketing must create an event. Example: when you try cloths and check if it suites you. ONE TO ONE MARKETING. 7. Is the existing channel strategy viable for a M&S? what suggestions would you recommend improving it? is the channel viable that they are using?? Focus on channel strategies: important thing to make your products available 8. How can you improve the brand awareness of M&S? PR and communication, advertising and sampling. 9. What should be the right target market for M&S? middle age maybe 10. Which sales promotion tools would you apply to improve brand awareness? 11. How can M&S apply relationship marketing to improve the sales? We can use co-branding, like diesel did a branding with adidas. One to one marketing, and, experiential marketing, permission marketing. Choose 1 or all and relate to the case and how to apply them, 12. What secondary associations can you leverage? Co-branding, sponsor anything in chapter 7, some might be used. Maybe british geographic, spokesperson. 13. Can we apply skimming pricing strategy for M&S? 14. Which PR models could we apply? Hes not gonna ask 15. What type of events would you recommend for M&S to improve the brand awareness? Example: fashion show 16. Personally, what associations are proper for M&S? my personal associations (brand associations) what comes to my mind of marks and spencer list the associations of marks and spencer 17. What type of sales promotion tool would you recommend for rewarding loyal customers? First time users and loyal customers, so focs on loyal customers because theyre different. Maybe money coupons 18. How can we improve brand recall of M&S? by advertising 19. How can we reach new customers? Social media or making events. Sales promotion tools