BRAND VALUE
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Transcript of BRAND VALUE
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Strength of Brand Association
Strength –function of amount or quantity of processing and nature or quality of processing the information.
1. Personal relevance of the information2. Consistency over a time
Brand Attributes-descriptive features that characterize a product or service
Brand benefits –personal values and meaning that consumers attach to the product or service attributes
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Favorability of Brand AssociationsDesirable to consumers
Successfully delivered by the product
Conveyed by the support marketing program-brand- highly convenient, reliable, effective, efficient, colorful.
and the length of time
Desirability- three factors1. Relevant2. Distinctive3. BelievableFirm- able to deliver on the desired
association.Cost or investment necessary
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Deliverability-three factors
1. Actual or potential ability of the product to perform
2. Current or future prospects of communicating that performance
3. Sustainability of the actual and communicated performance over time.
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Uniqueness of Brand Associations
Sustainable competitive advantage-unique selling proposition
Communicated explicitly- direct comparisonsHighlighted implicitly
Product related or product non-related attributes/benefits
Product category attitudesUnique meaningful -points of difference-
“reason why”Points of parity- “no reason why not”
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Brand PositioningDefine competitive frame of
referenceTarget marketNature of competition
Define desired brand knowledge structuresPoints-of-parity
necessarycompetitive
Points-of-differencestrong, favorable, and unique brand associations
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Issues in Implementing Brand Positioning
Establishing Category MembershipIdentifying & Choosing POP’s & POD’sCommunicating & Establishing POP’s
& POD’sSustaining & Evolving POD’s & POP’s
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Establishing Category Membership
Product descriptorExemplar comparisonsCommunicating category
membership
POD (Point of Difference)Strong, favorable, unique brand associationsMay be any kind of attribute or benefit
Two types of PODsAttribute Based
Functional, performance related differences
Image BasedAffective, experiential, brand image related
differences
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POP (Point of Parity)Associations that are shared with other brands
Two typesCategory: attributes that are required to include
your product as a member of that categoryCompetitive: POP that negate your competitors
PODsPOPs can be “good enough”, but PODs
should be “superior
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Identifying & Choosing POP’s & POD’sDesirability criteria (consumer
perspective)Personally relevantDistinctive & superiorBelievable & credible
Deliverability criteria (firm perspective)Feasible ProfitablePre-emptive, defensible & difficult to
attack
How do I decide on my PODs and POPs?POPs
Analysis of categoryWhat attributes do all of my competitors have? I probably need to have those, or my competitors automatically have
a PODPOPs 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)
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Major Challenges in Positioning
Find compelling & impactful points-of-difference (MacMillan & McGrath, HBR, ‘97)How do people become aware of their need for your
product and service?How do consumers find your offering?How do consumers make their final selection?How do consumers order and purchase your product
or service?What happens when your product or service is
delivered?How is your product installed?How is your product or service paid for?
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Major Challenges in Positioning
Find compelling & impactful points-of-difference (cont.) How is your product stored?How is your product moved around?What is the consumer really using your product for?What do consumers need help with when they use
your product?What about returns or exchanges?How is your product repaired or serviced?What happens when your product is disposed of or
no longer used?
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Communicating & Establishing POP’s & POD’sCreate POP’s and POD’s in the
face of attribute & benefit trade-offsPrice & qualityConvenience & qualityTaste & low caloriesEfficacy & mildnessPower & safetyUbiquity & prestigeComprehensiveness (variety) & simplicityStrength & refinement
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Strategies to Reconcile Attribute & Benefit Trade-Offs
Establish separate marketing programs
Leverage secondary association (e.g., co-brand)
Re-define the relationship from negative to positive
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Sustaining & EvolvingPOP’s & POD’s
Core Brand Values &Core Brand Proposition
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Brand Mantras
A brand mantra is an articulation of the “heart and soul” of the brand. Brand mantras are short three to five word
phrases that capture the irrefutable essence or spirit of the brand positioning and brand values.
NikeAuthentic Athletic Performance
DisneyFun Family Entertainment
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Principles a la Keller: What makes a good Principle?
Three componentsEmotional component (Comfortable)Descriptive modifier (Casual)Brand function (clothing)
Other ExamplesNike: Authentic, Athletic PerformanceFun Family Entertainment
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BRAND MANTRAEmotional Descriptive Brand
Modifier Modifier FunctionNikeAuthentic Athletic Performance
Disney Fun Family Entertainment
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The Brand Function describes the service, type or benefit.
The Descriptive Modifier is the answer to ‘not just any kind’ of function,
Emotional Modifier describes the qualitative nature of how the brand provides the benefit.
Nike has described their mantra of ‘Authentic Athletic Performance’ as the ‘intellectual guard rails’ to keep the brand on track.
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Reasons for a Brand Mantra
It forces to articulate what the brand is all about – if we can’t do it, then how can we expect our customers to?
It allows a foundation from which to have structured dialogue with the customers in ongoing research –
It guides the conversation, such as the Discussion Guide for focus groups – what is it that we should be talking about? .
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It facilitates NPD by defining the boundaries for the brand.
Ensures continuity for new staff. Guides the communication Adds depth to the brandPotential stakeholders that there is more
to the brand than what they see
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The future?:Internal brandingLiving the brand…
It is key to align promises with performance through:The products (quality…)The company (corporate branding)The channels (branding on POS)The employees (internal branding)
⇨ All have to live up the brand’s promise
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Core Brand Values
Set of abstract concepts or phrases that characterize the 5-10 most important dimensions of the mental map of a brand.
Relate to points-of-parity and points-of-difference
Mental Map Core Brand Values Brand Mantra
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Brand Mental Map Build-up
Your Brand
funfriendly
store
flashlights
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This mental map shows the range of associations for Nike. Some associations are product specific while others are not.
Brands typically have many associations, but only three to five arethe primary drivers of brand equity.
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Core associations for Nike include: innovative technology, high quality/stylish products, joy and celebration of sports, maximum performance, self empowerment and inspiring, locally and regionally involved, and globally responsible.
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When compared to Reebok, comfort and stylishness are points of parity while technology and empowerment are points of difference.
Compared to Adidas, performance and quality are points
of parity while technology and empowerment are points of difference.