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Strategic Brand Management. What is a brand?. --A distinguishing name and/or symbol to identify and differentiate products from those offered by competitors. --Brand equity: the set of assets (or liabilities) linked to a brand name and symbol that goes beyond the value provided by the product.

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slide2

What is a brand?

--A distinguishing name and/or symbol to identify and differentiate products from those offered by competitors.

--Brand equity: the set of assets (or liabilities) linked to a brand name and symbol that goes beyond the value provided by the product.

slide3

Brand Strategy

  • Generic Branding: e.g. generic drugs
  • Global Branding: e.g. Nike
  • Umbrella Branding: e.g. levi’s and Dockers
  • Corporate Branding: e.g. Manufacturer--DuPont, Intel, Retailer--Wal-Mart, Rite-Aid
  • Co-branding: e.g. AA/Citibank credit card
  • Internet Branding: e.g. Yahoo!
a simple conceptual model of brand equity
A Simple Conceptual Model of Brand Equity

. . . provides positive consumer responses . . .

. . . and benefits both target customers and firm

A good brand . . .

Brand Awareness

  • Depth
  • Breadth

Customer Benefits

  • Confidence
  • Loyalty
  • Satisfaction

Product, Price, Community, Communication

and Distribution Programs

Wraparounds

Core Product/ Service

Brand Associations

  • Strength
    • Relevant
    • Consistent
  • Valence
  • Uniqueness
    • Memorable
    • Distinctive

Firm Benefits

  • Reduced marketing costs
  • Increased margins
  • Opportunity for brand extensions

Source: Keller (1996), Aaker (1996), Strategic Market Research Group, Marketspace Analysis

marketing programs to build brand equity
Marketing Programs to Build Brand Equity
  • Product
  • Pricing

Brand Equity

  • Communication
  • Promotional
  • Program
  • Distribution
customer equity
Customer-Equity
  • Attracting and Keeping Customers:
  • key to Successful Marketing Program
  • Examples: McDonald’s in China—traffic
  • online brands—google, yahoo
  • How to determine customer equity?
    • cost of acquiring customers and the future profit stream from retained customers.
customer equity cont
Customer Equity (cont.)
  • Balancing the cost of customer acquisition and customer retention.
  • How to determine the optimal balance? Using decision calculus to determine the two returns from acquisition and retention.
  • Key for judging new products: will it grow our customer equity?
maximizing customer equity
Maximizing Customer Equity
  • What are some ways to maximize the customer equity?
  • --Invest in highest-value customer base first.
  • --Transform product management into customer management.
  • --Reduce costs if you can. However, think about the take-off
  • time.
  • Tracking marketing programs for all competitors and yourself.
  • Is current market program build or erode your customer base?
high tech brands
High-Tech Brands
  • Product-centric vs. customer-centric model
  • Two statements about branding in high-tech industry
    • --brand images are only relevant when purchase decisions are
    • emotional.
    • --brand management is the job of marketing people. The future
    • of a high-tech company lies in technical breakthrough.
    • What is your opinion regarding the two statements?
  • High tech industry is still struggling. Where lies for future for IT
  • brands? Customer Service or technological rules?
high tech brands cont
High-Tech Brands (cont.)
  • Branding does not simply refers to designing an
  • attractive logo or slogan.
  • A brand plan is a full business plan!
  • Impact of merger on brand equity.
  • e.g. HP-Compaq merger,
  • Cingular-AT&T wireless
slide11

Brand Extension

  • Success v.s. Failure in brand extensions:
  • Success: e.g. Arm and Hammer toothpaste, Hershey chocolate milk
  • Failure: e.g. 7up Gold, Levi’s Tailed Classics suits, Dunkin Donut cereal,
  • Xerox Computer
  • How to Manage Brand Extension?
    • Advantage and Disadvantage of brand extension
    • Manage the risk of diluting or even destructing
    • parent brand image.
slide12

A Seven-Step Branding Process

Clearly Define the Target Audience

Step 1

Understand the Target Customer

Step 2

Understand the Competition

Step 3

Design Compelling Brand Intent

Step 4

Identify Key Leverage Points in Customer Experience

Step 5

Execute the Branding Strategy

Step 6

Establish Feedback Systems

Step 7

in class branding exercise
In class branding exercise
  • Pick an industry that of your interests.
  • Choices: cell phone, auto, beer, cosmetics, fragrance etc.
  • Following the seven-step branding process to come up with a new product/brand that have the potential to compete in the marketplace.
  • Be sure to analyze the competition using perceptual map, and see where you want your new brand to be placed into the competition.
  • Design a simple advertising program highlighting its logo, name, slogan if you can.