Session7Handout

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Published on February 13, 2008

Author: Raimondo

Source: authorstream.com

Brand Positioning and Values:  Brand Positioning and Values Where we have been:  Where we have been We understand Brand equity and the psychology behind it A function of awareness, strength, favorability, and uniqueness of the nodes and links in memory BE is created in a progressive fashion Establish proper Brand Identity Create Brand meaning Elicit positive Brand responses Forge strong Brand relationship Identifying and establishing Brand Positioning:  Identifying and establishing Brand Positioning The Integrated Brand Model Six elements that define a brand Unified Leverage each other Brand Drivers a function of Organization Drivers These six elements serve as a “roadmap” to our Brand Equity model At every step, we can figure out what to do from our Brand and Organization Drivers Brand Positioning:  Brand Positioning Brand Positioning Brand positioning is all about identifying the optimal location in our customers’ minds for our Brand and our competitors Proper positioning makes it easier to facilitate understanding of our Brand Taken to its’ logical conclusion, you might think of the Principle as an indicator of a brand’s position First Steps:  First Steps The first step is to identify and establish Brand positioning and brand values (Keller) Positioning is the foundation for creating and fostering the desired knowledge and perceptions of your customers remember our 3 types of associations in memory? We can really only manage one (positive), can respond to a second (negative), and have no control over the third (idiosyncratic) Proper Positioning:  Proper Positioning Proper positioning Clarifies what the Brand is all about How it is both unique and similar to competitive brands Why customers should purchase and use the Brand Example: Pepsi One:  Example: Pepsi One Millions in R&D for ingredient Ace-K (artificial sweetener) 37,000 hours to design the can 100 Million Marketing budget Original Target Market 20-30 yo Males who did not like taste of diet colas Pepsi One Brand Conveyors: Then and now:  Pepsi One Brand Conveyors: Then and now Full flavored, healthy alternative to regular cola “Only one has it all” “True cola taste, one calorie” “Tastes like regular cola” Celeb: Tom Green “Breakthru Sweetener” “Too good to be one calorie, but it is” Celeb: Kim Katrell Better for 20-30 yos? In order to Position a Brand…:  In order to Position a Brand… …you must decide Who the Target Consumer is Who your main competitors are How the Brand is similar to your competitors How the Brand is different from your competitors Where do you get this information? Your BRAND INVENTORY!! Target Market Segmentation:  Target Market Segmentation A market segment should have similar knowledge structures and brand knowledge Similar knowledge structures might mean similar perceptions and beliefs about your Brand There are 2 ways to segment Descriptive: characteristics of the individuals in the market Behavioral: grouped by how individuals in the market perceive or use the product Toothpaste Segmentation:  Toothpaste Segmentation Four main segments Sensory segment Flavor and product appearance Sociables Brightness of teeth Worriers Decay Prevention Independent Low Price 3 stripes, one for each of the 3 main segments Flavor, Brightness Decay Prevention Target Market Segmentation:  Target Market Segmentation Which works better? Behavioral Easier to match perceptions (right/wrong) or beliefs (right/wrong) with strategy (reinforce/change). Many times, behavior and descriptive go hand in hand Demographics may be basis of targeting, but tend to represent some underlying behavioral reason In some cases, demographics may mask underlying differences Advantages of demographic segmentation:  Advantages of demographic segmentation Demographic segmentation is well known, easier to buy media on that basis However, with the emergence of non-traditional media, this advantage is getting smaller Web ads can target by demographics traditionally difficult to access AA, Asian Americans, College students Criteria for a Segment:  Criteria for a Segment Identifiability Can the segment be easily identified? Size It is big enough to bother? Accessibility Are distribution outlets and media available to us to reach the segment? Responsiveness How favorably will the segment respond to a tailored marketing program? (this one is tough to quantify) Segmentation Example:  Segmentation Example Mobil’s 5 types of gasoline buyers Price Drivers Not brand loyal, driven by price, has been focus for years Road Warriors Upper income, MAMen, 25-50k/year, buy food and services with credit card (Premium gas) True Blues Brand loyal, Mid income, pay with cash Generation F3 Fuel, food, fast: half under 25 yo, in and out quickly Homebodies Soccer moms using whatever is on their route The Competition:  The Competition Market Segments define competitors They are targeting the same segments Don’t be too narrow in your definition of competitors Consider Sprite Product Type (non-cola soft drinks) Product Category (all soft drinks) Product Class (all beverages) Baskin-Robbins Competitive analysis:  Baskin-Robbins Competitive analysis Original Tagline: 31 Flavors 100 M$ facelift in late 1990s Expanded from Ice cream Frozen coffee drinks Fruit Smoothies Perceived competitors Starbucks Jamba Juice TCBY (and still Dairy Queen) Part 3: POP and POD:  Part 3: POP and POD POD (Point of Difference) Strong, favorable, unique brand associations May be any kind of attribute or benefit Two types of PODs Attribute Based Functional, performance related differences Image Based Affective, experiential, brand image related differences Part 3: POP and POD:  Part 3: POP and POD POP (Point of Parity) Associations that are shared with other brands Two types Category: attributes that are required to include your product as a member of that category Competitive: POP that negate your competitors PODs POPs can be “good enough”, but PODs should be “superior Similar concepts:  Similar concepts Unique Selling Proposition (USP; Reeves and Bates) Advertisers should give a compelling reason to buy a product that competitors could not match What component of the IBM reflects this? Sustainable Competitive Advantage (SCA) The advantage of delivering superior value in the marketplace for a prolonged period of time Further, SCAs can result from any component of the firm Similar to notion that Principle exists in every part of the firm POP AND POD: BMW over the years:  POP AND POD: BMW over the years 1971 1975 1985 1991 International Desirability Fun to drive Economical Affluence, exclusivity Fun to drive Affluence, exclusivity Fun to drive Managerial Issues:  Managerial Issues How do I begin to position my Brand? Communicate category membership This is the “frame of reference”, where customers can activate what they know about the category and apply it to your POPs and PODs How? Communicate category benefits Compare your product to exemplars Rely on product descriptor Sneaky psychology sidebar - Exemplars:  Sneaky psychology sidebar - Exemplars Memory is modeled in a hierarchical was as well Exemplars can be real or amalgamated (prototypes) Generated from experiences and exposures from the environment Exemplar example (heh) DRAW A PICTURE OF A CHAIR (THE FIRST THING THAT COMES TO MIND Compare your picture to your other team members Is it the same or different Ways to convey category membership (cont): Comparison to Exemplars:  Ways to convey category membership (cont): Comparison to Exemplars Thus, two strategies: Created exemplar (not a real product) Real exemplar (coke when talking about cola-based carbonated beverages) NOTE: Keller defines exemplars as Well known, noteworthy brands in a category Pepsi One example (after repositioning) Nuts and Bolts:  Nuts and Bolts How do I decide on my PODs and POPs? POPs Analysis of category What attributes do all of my competitors have? I probably need to have those, or my competitors automatically have a POD POPs get you included in category PODs are more difficult Don’t use PODs that are product centric (dominate competition) but customer centric (uniquely address need of customer) Managerial issues:  Managerial issues Criteria for POD Desirability Must be Relevant Must be Distinctive Must be Believable Deliverability Feasibility Communicability Sustainability Establish POP and POD in marketplace:  Establish POP and POD in marketplace Difficulty: Many attributes that make up POP and PODs are negatively opposed Low price vs. High quality Tastes Great vs. Less filling Separate the attributes Leverage equity in another entity Redefine the relationship Defining Values and Principle:  Defining Values and Principle You already know how to do this Your values and principle are part of your Org and Brand drivers!!! Keller calls principle “Brand Mantra” Your Values, Principle, and position all are related NOTE: Keller says that associations are values, but we have a stricter definition of associations from the IBM Principles a la Keller: What makes a good Principle?:  Principles a la Keller: What makes a good Principle? Three components Emotional component (Comfortable) Descriptive modifier (Casual) Brand function (clothing) Other Examples Nike: Authentic, Athletic Performance Fun Family Entertainment

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