BGS Atlanta Pres Building Measuring and Leveraging Brand Equity-27 Slides to Share

8/12/2019 BGS Atlanta Pres Building Measuring and Leveraging Brand Equity-27 Slides to Share

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Building, Measuring, and Leveraging

Strong Brands

Professor Steve Hoeffler

Beta Gamma Sigma: Atlanta Area Alumni Chapter

Tuesda, !e"ruar 1#th


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Branding: $oadmap and Sour%es

1) Define Brand Equity

2) Evaluate a Model for Building Brand Equity

3) Use Starbucks exa!le t"roug"out for #"ands$on% learning

Sources&

1)Strategic Brand Management

by Kevin Lane Keller

2) The Marketing Advantages of Strong Brands

by Steve Hoeffler & Kevin Lane Keller

(Journal of Brand Management, Aug, 2003)3)Building Brand Equity through Corporate Societal Marketing

by Steve Hoeffler and Kevin Lane Keller

(Journal of Public Policy and Marketing, Spring, 2002)

)How SocialCause Marketing Affects Consumer !erceptions

by Paul Bloom, Steve Hoeffler, and Kevin Lane Keller

Sloan Management !e"ie#, $inter 200%


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!irst: Lets understand &hat a "rand is

'hat (o )ou Thin* +f 'hen )ou Hear

Cadilla%

At our ta"le -- dis%uss all of the thoughts that %ome to mind


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.nderstanding "rands:

Ho& information a"out "rands is stored

Asso%iative /et&or* Memor Model net&or* of nodes and lin*s nodes: stored information or %on%epts

lin*s: strength of the asso%iation "et&een nodes

A%%uratel portras in detail all salient "rand asso%iations andresponses for a parti%ular target mar*et 0eg, "rand users2

Can %reate a mental map " as*ing %onsumers for their top-of-mind "rand

asso%iations 0eg, 3'hen ou thin* of this "rand, &hat %omes to mind42 Performan%e 0produ%t-related2 5mager 0non-produ%t-related2

$e%all: "ased on the %on%ept of spreading a%tivation


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Star"u%*s Mental Map - Team 67er%ise


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Components of Brand 8no&ledge:

Brand A&areness 9 strength of the "rand node or tra%ein memor Brand $e%all 0retrieval given need, produ%t %ategor or some %ue2

8e to $e%all: lin*ages to Produ%t Categor, Pur%hase Situation,.sage Situation

Brand $e%ognition 0%onfirm prior e7posure2

5n%rease familiarit through repeated e7posure Hen%e the importan%e of 5ntegrated Mar*eting Communi%ations

.se a &ide range of %ommuni%ations options Advertising, Promotions, Sponsorship, P$

(epth versus Breadth of A&areness Amaon e7ample


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Components of Brand 8no&ledge:

B$A/( 5MAG6

Brand 5mage9 %onsumer per%eptions of the "rand

as refle%ted " the asso%iations held in memor

Brand Meaning"ased on the num"er and %ontent of

nodes that are %onne%ted to the "rand in memor !or %ompetitive advantage need:

Strong0"ased on amount of pro%essing2 0personal relevan%e, %onsisten%2

!avora"le0"ased on %onsumer needs2

.ni;ue0asso%iations not shared " %ompetitors2


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!rame&or* for understanding ho& strong

"rands gain an advantage: CBB6 Model

Customer Based Brand 6;uit 0CBB62 9 the

differential effe%tthat "rand *no&ledgehas on

%onsumer responseto the mar*eting of the

"rand (ifferential 6ffe%t 0ne%essar2 Brand 8no&ledge 0in the minds of %onsumers2

Consumer $esponse 0per%eptions, preferen%es, "ehavior2


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Building Brand 6;uit

/6' !$AM6'+$8

Most resear%h on "rands has fo%used on

advantages of strong "rands

Less is *no&n a"out the most effe%tive &as to

"uild "rand e;uit

/e& !rame&or*: Core Brand


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B$A/( P)$AM5(

4. RELATIONSHIPS =

What about you & me?

4. RELATIONSHIPS =

What about you & me?

3. RESPONSE =

What about you?

3. RESPONSE =

What about you?

2. MEANING =

What are you?

2. MEANING =

What are you?

1. IDENTITY =

Who are you?

1. IDENTITY =

Who are you?

INTENSE,

ACTIVE LOYALTY

INTENSE,

ACTIVE LOYALTY

POSITIVE,

ACCESSIBLE

REACTIONS

POSITIVE,

ACCESSIBLE

REACTIONS

STRONG, FAVORABLE

& UNIQUE BRAND

ASSOCIATIONS

POINTS-OF-PARITY

& DIFFERENCE

DEEP, BROAD

BRAND

AWARENESS

DEEP, BROAD

BRAND

AWARENESS

RESONANCE

JUDGMENTS FEELINGS

PERFORMANCE IMAGERY

SALIENCE

Stages of Brand

Development

Branding Objective at

Each StageBuilding Blocks

C+L( H+T


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$6C6/T 6=AMPL6: 0C+L( path of pramid2

Building .tilitarian asso%iations to a Brand

Cadilla% transforming their image via performan%e !rom Car and (river $evie&:

3'ith a folding hardtop that %ompletel disappears at the tou%h of a

"utton, the =L$ presents a slee* and %lean profile4

3.nder the =L$>s hood lies its most signifi%ant ma?or me%hani%aldistin%tion @ the liter /orthstar


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/o& 'hat (o )ou Thin* +f


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Brand Positioning

6ssen%e:Brand has some sustaina"le %ompetitive advantage0SCA2 or uni;ue selling proposition 0.SP2 that gives %onsumers a%ompelling reason to "u that parti%ular "rand

Competition-Based Positioning 5dentif the Appropriate Categor (istinguish from +ther Categor Mem"ers on 5mportant (imension Strongest Positions:Brand has Clear Point of (ifferen%e on Benefit

that Prompts Categor .se 67ample: Tide -- superior %leaning po&er

5mage-Based or Goal-Based Positioning (epi%t Brand or Categor as &a to Satisf Consumer Goal Laddering .p @ 5nferen%es are li*e rungs on a ladder and "e%ome

more a"stra%t and general as ou go up

General Belief: A"stra%t F Competition

Brand #$$en%e

b$tra%t Benefit$

Benefit$

ttribute'(mae


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$e%ent 67ample: /ASCA$

Asso%iations PositioningBehavior


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Brand Positioning:

.nderstand Brand Meaning

Core brand associations Set of a"stra%t asso%iations that %hara%terie the - most

important aspe%ts or dimensions of a "rand

Can serve as the "asis of "rand positioning in terms of ho& the

relate to points-of-parit and points-of-differen%e Challenge is to ma7imie the 3%overage4 of the mental map to

in%lude all relevant asso%iations &hile ma*ing sure ea%h %ore"rand asso%iations is as distin%t as possi"le


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Star"u%*s Core Brand Asso%iations

Team 67er%ise

12 2

I2 2

2 2


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Brand Positioning

Condu%t Competitive Analsis

Competitive frames of reference /ature of %ompetition Target mar*et

Points-of-parity shared brand values /e%essar Competitive

Points-of-difference unique brand values (esira"le (elivera"le


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Brand Positioning

5dentifing E Choosing P+P E P+(

(esira"ilit %riteria 0%onsumer perspe%tive2 Personall relevant

(istin%tive E superior

Believa"le E %redi"le

(elivera"ilit %riteria 0firm perspe%tive2 !easi"le

Profita"le Pre-emptive, defensi"le E diffi%ult to atta%*


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Star"u%*s Competitive Positioning

Team 67er%ise

Competitor

12 !ast food %hains E

%onvenien%e shops

POP

J

J

POD

J

J

2 Supermar*et Brands 0for home2

J

J

J

J

I2 Lo%al CafK

J

J

J

J


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Brand Positioning 555:

Capture Brand 6ssen%e

Brand mantras Short I-to- &ord phrases that %apture the irrefuta"le

essen%e or spirit of the "rand /i*e 9 3Authenti% Athleti% Performan%e4

(isne 9 3!un !amil 6ntertainment4 Brand mantra must %learl delineate &hat the "rand is

supposed to represent and therefore, at leastimpli%itl, &hat it is not

Brand mantras tpi%all are designed to %apture the"rand>s points-of-differen%e, ie, &hat is uni;ue a"outthe "rand


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Brand Mantras

To arrive at the final "rand mantra, the follo&ing %onsiderationsshould %ome into pla

Communicate A good "rand mantra should define the %ategor 0or%ategories2 of "usiness for the "rand and set the "rand "oundaries 5t

should also %larif &hat is uni;ue a"out the "rand

Simplify An effe%tive "rand mantra should "e memora"le As a result, itshould "e short, %risp, and vivid in meaning

Inspire 5deall, the "rand mantra &ould also sta*e out ground that is

personall meaningful and relevant to as man emploees as possi"le

$egardless of e7a%tl ho& man &ords a%tuall ma*e up the mantra,ho&ever, there will always be a level of meaning beneath the brandmantra itself that will need to be articulated


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Star"u%*s Brand Mantra

Team 67er%ise

? ? ?


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Branding Ta*ea&as

Brand 6;uit lies in the minds of %onsumers Mental Maps & Core asso%iations, P+PP+(, et%

Lots of resear%h and *no&ledge a"out the "enefits that

a%%rue to strong "rands

Less is *no&n a"out the right &a to "uild strong "rands

Customer Based Brand 6;uit 0CBB62 Model is useful

overall frame&or* for understanding "rands

Core Brand

BGS Atlanta Pres Building Measuring and Leveraging Brand Equity-27 Slides to Share

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