20140308 brand management chapter 2 iba mba48 e

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Information about 20140308 brand management chapter 2 iba mba48 e

Published on March 9, 2014

Author: zeeshanhuq

Source: slideshare.net

Brand Management Session 2: Brand Equity and Brand Manager Zeeshan Kingshuk Huq Guest Faculty zeeshan.huq@gmail.com

We read about the the relationship in last class §  Brand is a promise §  Product is the system of delivering this promise §  Advertisement proposes and makes you believe this delivery of promise 2 3/10/14/ZKH

BRAND EQUITY 3 3/10/14/ZKH

But what is a good brand made of? §  Brand Equity is the difference between the value offered by a product / service by the company the value perceived by the consumers !  Is Mercedes expensive? 4 3/10/14/ZKH

Brand Equity consists of … Brand Loyalty Reduced marketing cost Brand Awareness Perceived Quality Anchor to which Reason to buy other Differentiation / associations Trade Leverage Position can be attached Attracting new Price Familiarity-liking customers ChannelSignal of Time to respond member interest substance to competitive Extension Consideration threats Brand Association Easy interpretation Reason to buy Create positive image Extension 5 3/10/14/ZKH

Can we measure Brand Equity? §  Yes, and there are various models §  Details of different approaches to conceptualize brand equity differ §  However, all of them share a common core à typically rely on brand knowledge structures in the minds of consumers §  Consumers – individuals or organizations – are the single source or foundation of brand equity 6 3/10/14/ZKH

Generic Model in Measuring Brand Equity §  Considerations ! Brand Awareness -  Breadth -  Depth ! Brand Image -  Characteristics, price, durability, quality, effective -  Personification (user versus brand) -  Values, history, heritage -  Feelings §  Measurements ! Brand Awareness -  Brand Recognition -  Unaided Recall -  Aided Recall ! Brand Image -  Free Association -  Means-Ends Chain Analysis -  Projective Techniques -  Ethnography / Observation -  Aaker Scale 7 3/10/14/ZKH

Other models §  IPSOS Brand Health Model !  Consumer Perception à Equity !  Category Involvement à Sensitivity !  Price Perception à Value §  Research International Equity Engine !  Affinity !  Identification !  Approval !  Performance §  Young & Rubicam BrandAsset® Valuator !  Differentiation !  Relevance !  Strength / Knowledge !  Stature §  Milward Brown BrandDynamicsTM !  Presence !  Relevance !  Performance !  Advantage !  Bonding §  Neilsen Winning Brands !  4/5 stages 8 3/10/14/ZKH

How long does it take to build a brand? 9 3/10/14/ZKH

BRAND MANAGER 10 3/10/14/ZKH

11 3/10/14/ZKH

What are the expertise / role of a Brand Person? §  S/he is the parent of the brand, agency is the mentor that grooms the brand §  Skill-set needed: !  Creativity !  A natural observer – gathers insights !  Networking, resourcefulness !  People-savvy !  Rational, analytical ability !  Capability to write succinctly !  Attention to details §  S/he is the sole responsible person for the growth of the brand – there’s nothing s/he can escape from. Rest of marketing department supports her/him. 12 3/10/14/ZKH

Brand Person provides a brief §  A good brief is a reflection of how well the brand person understands and owns his/her brand §  Brief means brief !  Concise – no more than 2 pages !  Simple and Clear – for anyone, free from jargons !  Positive and truthful – inspiring, driving excellence §  Outline §  Should be presented in person to the agency, including the creative team, preferably with product demo 13 3/10/14/ZKH

Brief to Agency §  Why do we want new advertising? §  Who are we talking to? §  What effect should the advertising have on the consumer? What does s/he think now? What would we like her to think/do? §  The story – what is the single most persuasive benefit we can offer? §  Why should the believe it? §  What are the executional considerations? §  What are the practical considerations, e.g. timing, advertising properties, competitive reaction, regulatory aspects, etc §  Authority §  Budget strength 14 3/10/14/ZKH

1.  Would you want to be a brand manager? If yes, why? If not, why not? QUIZ 15 3/10/14/ZKH

QUESTIONS AND ANSWERS 16 3/10/14/ZKH

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