Brand Equity: The Role of Brand Identity Based IMC

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2. The Goal. Brand EquityCustomer-Based (Keller 1993)Strong, highly favorable brand associationsBrand Awareness
Brand Equity: The Role of Brand Identity Based IMC

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1. 1 Brand Equity: The Role of Brand Identity Based IMC A Presentation to Campus Communicators of Texas Tech University and TTU Health Science Center August 24, 2006 Bob McDonald Assistant Professor of Marketing Rawls College of Business

2. 2 The Goal Brand Equity Customer-Based (Keller 1993) Strong, highly favorable brand associations Brand Awareness & Brand Image Image is in the eye of the beholder (i.e., the customer owns the image).

3. 3 Brand Equity Strategy I ?A set of processes that include acquiring, developing, nurturing, and leveraging an effectiveness-enhancing, high-equity brand or portfolio of brands.? (Madhavaram, Badrinarayanan, and McDonald 2005)

4. 4 Brand Equity Strategy II Why have a brand equity strategy? To achieve competitive advantage This in turn leads to superior financial performance. (Hunt forthcoming)

5. 5 Marketing Communications Voice of the brand. Means by which companies establish dialogue with customers. Keller 2001

6. 6 IMC Integrated Marketing Communications Not just a collection of promotional tools or a budgetary allocation exercise. Must be strategically developed (Kitchen et al. 2004) Must ?harness synergy across multiple media.? (Naik and Raman 2003)

7. 7 IMC Strategy ?A set of processes that include the planning, development, execution, and evaluation of coordinated, measurable, persuasive brand communications programs over time with consumers, customers, prospects, employees, associates, and other targeted, relevant external and internal audiences.? (Madhavaram, Badrinarayanan, and McDonald 2005)

8. 8 Brand Identity Strategy I To have a successful IMC strategy, must first have a strong Brand Identity Strategy.

9. 9 Brand Identity Strategy II Brand Identity Strategy is defined as: A set of processes that include the coordinated efforts of brand strategists in (1) developing, evaluating, and maintaining the brand identity/identities, and (2) communicating the brand identity/identities to all individuals and groups (internal and external to the firms) responsible for the firm?s marketing communication.? (Madhavaram, Badrinarayanan, and McDonald 2005)

10. 10 Brand Identity I Before we can achieve brand equity, i.e., a positive brand image, we must know the brand?s identity. Brand identity is the unique set of brand associations that a brand strategist aspires to create or maintain. (Aaker 1996) The brand owner defines the brand identity.

11. 11 Brand Identity II Unlike Superman and Spiderman, marketers do not want to keep their identities secret. Brand owner must understand and clearly express aspirations for the brand. These aspirations must be shared with all brand stewards, those responsible for communicating the brand to others.

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13. 13 Brand Contacts There are many types of brand contacts. Two that the brand strategist can affect: Brand Identity Contacts Brand Equity Contacts

14. 14 Brand Identity Contacts ?All message-carrying interactions concerning the brand between the brand strategists and the brand stewards.? (Madhavaram, Badrinarayanan, and McDonald 2005)

15. 15 Brand Stewards ?All internal and external entities that have responsibility for communicating the brand to customers, prospects, and publics.? Advertising & PR agencies Direct Marketers Salespeople Anyone who communicates the brand. (Madhavaram, Badrinarayanan, and McDonald 2005)

16. 16 Brand Equity Contacts ?All marketer-sponsored interactions concerning the brand between brand stewards and customers, prospects, and publics that are intended to create or maintain strong and highly favorable associations.? (Madhavaram, Badrinarayanan, and McDonald 2005) Ties back to Keller?s definition of brand equity.

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18. 18 IMC ? Brand Equity Brand Communication The glue that enables the connection between the firm?s efforts and customers? favorable response.

19. 19 Brand Communication Communication is a crucial (not only) driver of brand equity. Brand Communication is transmitted through a combination of vehicles, not just broadcast advertising. Brand Communication can be meticulously planned or unplanned. Some important brand contacts are not controllable by the brand strategist.

20. 20 Brand Identity ? IMC Brand identity helps establish relationship between brand and customer via value propositions. Functional, Emotional, Self-Expressive Benefits Yet, ?it is extremely difficult for brand image to match perfectly with brand identity due to the complex nature of the communications system.? (Madhavaram, Badrinarayanan, and McDonald 2005) Goal: Brand Image-Identity Congruence.

21. 21 Image ? Identity Per Aaker (1996), brand image should be an input to brand identity. Brand Strategists Carefully analyze own brand image, competitors? brand images, changing customer preferences and needs. Use to guide creation, management, or adaptation of Brand Identity. (Feedback Loop in Model)

22. 22 Identity Communication Positioning suitable for identity? How is identity to be communicated to brand stewards? How to guide brand stewards? Potential for conflicting messages. Brand Identity Strategy MUST guide the IMC Strategy.

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24. 24 Brand Equity Contact Factors Synergy Combined efforts exceed sum of individual efforts. IMC Effectiveness

25. 25 SYNERGY Interactivity Processes that link customers to company and its brands Strategic Consistency Coordination of all messages in the promotion of brands Complementarity Reinforcing effects of individual communication efforts

26. 26 Brand Identity Contact Factors Brand Identity-Oriented Culture Places high priority on brand identity Establishes behavioral norms in support of brand identity Top Management Support Brand Identity is strategic TMT sets culture Internal Market Orientation Apply customer approach internally

27. 27 Conclusion Know your brand?s identity. Communicate that identity to brand stewards. Identity guides IMC. Compare brand image to brand identity. A match is ideal. Look at competitors? images, as well as customers? preferences and needs. Adjust identity.

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