Brand Report Card[1]

Brand Report Card Kevin Lane Keller analyzed by jagadish

the worlds strongest brands share these ten attributes 1 the brand excels at delivering the benefits customers truly desire : it is to be noted that brands excel at delivering only by satisfying the customers by finding out what makes the brands unique in satisfying their desires in a complete sense. eg starbucks how to know whether brand is delivering to the end consumer for which brand is meant to deliver it is by conducting surveys across the globe through market space (internet) and also by conducting inhouse training to both marketing channels and stakeholders 2 brand stays relevant : for any brand to stay relevant it has to get updated information on current trends which customers are enjoying and what they expect from brands in the category they are interested in. question now arises as to how to make the brand stay relevant . it can be made relevant by a) market surveys through market place and market space b) customer stock option plan by looking at which stocks are popular or not c) selling products through employees (amway) d) kiosk that too at shopping places

3 pricing strategy is based on consumers perceptions of value : actually pricing is done by companies on the basis of cost of production and added by adding up supply chain management . now question arises as to what price has to be charged. it is decided not by customers but by the usability of product the company manufactures. how can companies chose whether the product that is being sold has usability more of

less it is done by a) daily sales report by marketing executive geographically through management information system b) number of houses and families report through census of government c) checking out the staple food of the particular locality through national distributors network report 4 brand is properly positioned : how can you say that brand is properly positioned as per companies point of view is seen. it can be known through a) market space questionaire b) opinion leaders and focus group interview or recruitment of them on commission based based upon correct assessment of their ideas how to locate opinion leaders and focus groups in a particular locality/state/country opinion leaders and focus groups can be found out through database generated by the internet usage who are giving solutions to the magazines , newspapers etc in india it is economic times, business standard etc database which are management newspapers and in management magazines business world, business today etc are being used by the people who are giving answers to the newspaper/magazines c) frequent usage saleability of product through organised retail stores database mis(management information system) 5 brand is consistent : brand can only be consistent till preferences of the customers don't change. till preferences of customers don't change the ad should remain the same. how to find out preferences have changed is to find out a) market space questionnaire b) focus group / opinion leaders information and their advise through commission c) cost of house rent in a particular locality determines standard of living of families in that locality d) setting up of organized retail stores and survey daily through fast sales of products .

6 brand portfolio and hierarchy make sense : actually brand portfolio has to have some categories. like whom to cater to. they can be children teenagers adults aged people geographical segmentation Demographic segmentation nature friendly products type of consumers and where to find them is through c2c (customer to customer) and b2b (business to business) eg : amway, tupperware products 7 the brand makes use of and coordinates a full repertoire of marketing activities to build equity what type of marketing activities are required to build brand equity (managing the brand) they can be a) managing marketing channels (communication, distribution, service channels) b) good daily sales report of the brand assigned to the team c) managing stakeholders of the company through quarterly report of the progress of the company so that companies brand name remains intact 8 the brands managers understand what the brand means to consumers for a brand manager to understand consumers mentality managers have to be constant contact with grassroot level marketing executives. vertical execution is horrible compared to horizontal execution in 21st century how can you make consumers understand what the brand means to them a) through explanation of brands being produced to consumers in magazines and also in management newspapers of companies brand represents b) kiosk c) promotional campaign of company websites by respective industries under 4c

4c concept :under this concept companies help each other in developing strategies for each other and try to cooperate in developing competition and cooperation in their respective industries the collaboration of different companies promoting each other in similar industry background by having trust between respective companies while doing promotional campaign 9 the brand is given proper support and that support is sustained over the long run how sustainance of support to the product or brand is given is through profits earned over the period of time by the company for satisfying the desires of the consumers. how much profits has to be earned to sustain the product is left to the decision of the board members. how can company promote brand and support it in its long run. what arsenal is needed to do that a) marketing channels b) word of mouth c) employee promotional campaign d) market space promotion cross usage of websites e) retained earnings to be stored up for doing research and development to promote products development for future 10 the company monitors sources of brand equity : how does company monitors sources of brand equity can be said by looking at a brand audit report prepared by the company. this brand audit has to be maintained on quarterly basis where it is tested by the investors to know the pulse of the company they are investing at. how to design a brand audit it can be designed by a) secondary data/history of company brands b) strategies designed by the company (SWOT) c) stakeholders/brand problems and how they were solved (recent) d) research being done on the brand and how it can be made useful for the end consumers who are interested in the brand/products made by the company e) this information of brand audit be passed on to the end consumer through market space (internet) to all stakeholders and employees of the company