Brand Management

BRANDINGModule 6 – Week 09

Design Management

Branding: Week 09

Maximizing

Brand Value


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Lesson 9: Learning Objectives

1. What is Brand Value

2. What makes a strong brand

3. Maximizing Brand Value- Brand Audit- Brand Strategy- Brand Execution- Brand Management


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What is Brand Value

• Because people are willing to pay extra for a brand than a product, Brand Value therefore is the extra money a company can make from its products solely because of its brand name.

• In other words, it’s the financial or monetary value of the brand.

• As an example, how much more is a consumer willing to pay for a coffee at Starbucks as opposed to a coffee at a coffee shop?

Not all Brands (chips) have the same value!


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Top 20 Most Valuable Brands 2010


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What Makes a Strong Brand

Brand experience externally

Brand experience internally

Brand NameLogo, SymbolsAdvertisingEnvironmentProducts & Services

Brand Values, VisionsManagement – cost structuresInternal CommunicationsBusiness ProcessInvestors RelationsCustomers RelationsTrainingQualityStaff MotivationKnowledge ManagementRecruitment PoliciesHR Policies & ProcessesTechnology


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The making of a strong brand….

• "Strong brands never happen by accident. Yet only 53% of firms say they have a long term brand strategy in place."

Prophet, Best Practices Survey, 2002

• "Only one fourth of marketing and advertising professionals can clearly articulate (their) company's brand position to... clients, customers or prospective clients.”

Louws Management Corporation Survey, 2007


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Brand value must be grown…

“The role of brands has evolved; brands are now company DNA, the spark from which all corporate life grows.”

Will Murray, Brand Storm: A Tale of Passion, Betrayal, and Revenge, 2001


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Personality

BrandFranchise

CRM &Community

BrandInventory

MarketingMix

Positioning

Objectives & Metrics

Brand StrategyBrand Strategy

Target &Insights

CompetitiveAssessments

Points of Parity & Differences

Brand AuditBrand Audit

BrandElements

CommunicationsStrategy

Brand Experience

Brand Execution Brand Execution

Intellectualproperty

Brand Strength

Brand Value & Equity

Brand Management Brand Management

The process of creating and maximizing brand value begins with a brand audit to developing the brand strategy and the execution plan across all touch points and eventually to manage, monitor and measure it’s success.

Maximizing Brand Value


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Brand Audit

BrandInventory

Target &Insights




What is Brand Audit?

• Comprehensive and systematic way to assess the health of a brand

• Assessing how a brand is perceived, what its strengths and weaknesses are and how well known and regarded by the target market.

• Discover the Point of Differences (POD) and the Point of Parity (POP) and identify the gaps.


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Target & Insights


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Target & Insights

� Personality & Profile (TAPP)

� Needs, motivations, wants

� Buying decisions process

� Image vs perception gaps

� Price vs benefits gaps

� Unmet or over-look needs

� New segments etc etc …

QUESTION:

Where to find insights?

ANSWER:

• Primary & Secondary Research• Qualitative & Quantitative Data


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Competitive Assessments

� Market Positioning

� Unique Value Propositions

� Differentiation

� Perceptions

� Market share

� Brand loyalty

� Attributes & Benefits

Question:

What to look for?

ANSWER:

• Point of Differences (POD)• Point of Parity (POP)


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Brand Inventory

What do we have in store?

Existing Strengths to leverage upon or Gaps that

need to be addressed.

What is Brand Inventory?� Brand visions, values, cultures

� Image, logo, symbols, icons

� Brand history & story

� Third party endorsements

� Organizational SWOT

� Brand Personality (DNA)

� Patents & Copyrights


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PersonalityBrand

Inventory

MarketingMix

Positioning



Target &Insights





Brand Managers to develop the most suitable strategy based on the findings from the audit


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Brand Strategy

PersonalityMarketing

MixPositioning


Brand Strategy Brand Strategy

What is Brand Strategy?

• A brand strategy is simply a plan for developing a coherent brand.

• It provides the means to create differentiation and consumer appeal.

• As a guide for better brand decisions across the organization.


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Brand Strategy

PersonalityMarketing

MixPositioning


Brand Strategy Brand Strategy

Brand Strategy

• Marketing Mix – The 4Ps

• Positioning – Market positioning.

• Personality – Brand DNA.


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Personality

CRM &Community

BrandInventory

MarketingMix

Positioning



Target &Insights




BrandElements


Brand Experience



Brand Managers must ensure that the plans are adopted, implemented and executed across the whole organization


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Brand Execution

CRM &Community

BrandElements


Brand Experience


Brand Execution is about managing the “Moments of Truth” – in other words;

Expectations, Relationships and Experiences


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Brand Elements

• Brand Name

• Brand Logos and Icons- Colors

- Symbols- Music/Earcons

• Brand Identity & visuals

• Celebrities or Personalities

• Advertising slogans and taglines

• Brand Alliances/ Associations- Co-branding

- Licensing- Sponsorship- Event Marketing- Celebrity Endorsement- Third-party Endorsements


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Communications (IMC) Strategy

Direct Marketing

Advertising

SalesPromotion

PublicRelationsBrochures

FlyersPremiums

Mobile /Internet

PublicityEvents

Roadshows

Integrated Marketing

Communications


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CRM & Community Building

YOUR BRANDMESSAGE

Customer

Industry

Business Partners

EmployeesInvestors

Press

Integrated Marketing Communications

TargetMarket

Community


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Personality

BrandFranchise

CRM &Community

BrandInventory

MarketingMix

Positioning



Target &Insights




BrandElements


Brand Experience



Brand Strength




Strong Brands don’t happened by chance. We need to manage, build and grow the brand.


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Brand Management

What is Brand Management?

• Brand management is the application of marketing techniques to a specific brand.

• It seeks to increase the brand's perceived value to the customer and thereby increase the brand franchise, long term brand equity and value.

Brand Franchise


Brand Strength




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Intellectual Property (IP)

Trademarks

(Name & Logo)

Trademarks(Signs, Symbols, Icons)

Trade Secrets & Inventions(special recipes, technology etc.)

Creative Works(Publications, Designs, Films, Images, Music, Drawings, Paintings, Sculptures, Architectural designs, Performances, Artistic works, Photographs etc.)

Proprietary Information(Customers data, Supplier’s agreement, Pricing strategy, Business contracts, and all Confidential information)

Industrial Design(Product design, Solutions, Systems, Technology etc.)


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IP Management Framework


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Managing Brand Strength

� Growth rates

� Market share

� Brand awareness- recall, recognition- image & perception

� Brand loyalty

� Price premium

� Brand association

� Financial value

QUESTION:

What is Brand Strength?

ANSWER:

• Brand’s growth potential• Ability to defend it’s position• Ability to generate margins, earnings and economic value


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Building Brand Franchise

� Product line extension

� Brand extension

� Co-branding

� Licensing

� Joint-venture

� Merger & Acquisition

� Selling the brand

QUESTION:

What is Brand Franchise?

ANSWER:

When brand has build up very positive and mass brand recognition it is said to have achieved brand franchise.


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Conclusion

Powerful brands are build over-time through careful strategic management

Brand Management

Education

Transcript of Brand Management