Bm 8 brand equity & management

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Transcript of Bm 8 brand equity & management

  • We can, We will

    Brand Management 8

    Brand Equity & its management

    Shim, Jae hak

  • Cold Call

    2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net) 2

    Brand platform?

    Brand Identity?

    Brand Essence?

  • Contents

    Concept of the Brand Equity1

    2

    CBBE Management over time3

    2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net)

    What we will discuss and achieve today ?

    3

    Customer Based Brand Equity

    Brand Name & Brand Extension 4

  • Brand Equity

    A set of associations and behaviors on the part of a brands

    customers, channel members, and parent corporation that

    permits the brand earn greater volume or greater margins than it

    could without the brand name and that gives the brand a strong,

    sustainable, and differentiated advantage over competitors

    (Marketing Science Institute,1989)

    2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net) 4

  • Definition of

    Brand Equity

    Brand Equity is the set of brand assets and liabilities linked to a

    brand that add or subtract from brand value

    (David A. Aaker)

    a set of memories in the extended minds of a brand's customers,

    distribution channel members, parent company, and other key

    members of its network that will impact future cash-flow. Memory

    is here used in the sense of both what we have learned about how

    to do things e.g. habits and behaviors, and things we remember

    e.g. prior experience with the brand.

    (Srivastava and Shocker, 1991)

    2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net) 5

  • Practical meaning

    of Brand Equity

    2015-04-13Shim, Jaehak (jaehak_shim@cambridgejbs.net)

    6

    http://www.revenuestrategy.com/Brand.htm

  • Tell me

    2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net) 7

  • Drivers of

    Brand Equity

    Enduring preference

    Sponsorships, admired people using the product, corporate citizenship

    Seen as better / best fit for me (functionality, trust, long lasting)

    Share of mind

    Brand Awareness

    Perceived Quality

    Brand Loyalty

    Positive Associations

    2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net) 8

    Brand

    Equity

    Other Assets

    Trade marks, exclusive channels, merchandising systems

  • 4 Major Dimensions

    Brand Awareness

    An often undervalued asset

    Has been shown to affect perceptions and even taste.

    People like the familiar and are prepared to ascribe all sorts of good attitudes to items that are familiar to them.

    Which one ???

    TOM

    Aided Awareness

    Un Aided Awareness

    The Intel Inside campaign

    Dramatically transferred awareness

    into perceptions of technological

    superiority and market acceptance.

    2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net) 9

  • 4 Major Dimensions

    Perceived quality

    Special type of association

    Influences brand associations in many contexts

    Empirically shows to affect profitability (as measured by both ROI and stock return)

    Brand loyalty

    The heart of any brands value

    2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net) 10

  • 4 Major Dimensions

    Brand associations

    Anything that connects the customer to the brand.

    Such as user imagery, product attributes, use situations, organizational associations, brand personality and symbols.

    Much of brand management involves determining what associations to develop and then creating programs that will link

    the associations to the brand.

    2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net) 11

  • Brand Association

    Anything which is deep seated in customers mind about the brand

    Not benefits, but are images and symbols associated

    with a brand or a brand benefit.

    2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net) 12

  • 2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net) 13

  • Component of

    Brand Association

    2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net) 14

    Strength

    Uniqueness

    Favorability

    Strength of B.A.

    : Extensiveness or depth of information processing relevant to

    a brand

    Personal relevance

    Consistency over time

    Favorability of B.A.

    : Extent of positive image and capability of satisfying consumers needs

    Uniqueness of B.A.

    : Image not shared with competing brands

  • How to form

    Quality of the product

    Product class/category to which the brand belongs;

    Price at which the brand is sold

    POP ( Point of purchase) displays; etc

    Advertisements

    Celebrity/big entity association

    Word of mouth publicity;

    Customers contact with the organization and its employees

    Products and schemes offered by competitors;

    2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net) 15

  • Brand Association

    Networks Process starts by understanding how brand is currently

    perceived

    IMAGE

    2015-04-13 16Shim, Jaehak (jaehak_shim@cambridgejbs.net)

  • Customer-basedBrand Equity (CBBE)

    The added value by a brand to the physical product or

    service as perceived by customers

    Customer-based brand equity is defined as the differential effect

    of brand knowledge on consumer response to the marketing of

    the brand (Keller 1993)

    2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net) 17

  • Powerful Brand

    in CBBE Model

    2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net) 18

    Powerful

    Brand

    1

    2

    3

    4

    Establish proper

    Brand Identity

    Create the appropriate

    Brand Meaning

    Elicit the right

    Brand Responses

    Forge appropriate

    Brand Relationship

  • Practical Example

    Case of C.R.M.

    Quantitative research every month to track the trends

    and bottle neck

    Development marketing activities focus on bottle neck

    2015-04-13

    All Target LoyalRegularRepertoireTrialConsiderationAwareness

    19Shim, Jaehak (jaehak_shim@cambridgejbs.net)

    C.D.M. (Consumer Disposition Funnels)

  • The iconic bike design

    The unparalleled performance engine

    The unique low-slung rideThe legendary rallies

    Harley Davidson Assets

    Slides containing imagery/reference to other brands are not to

    be used externally, not to be printed or downloaded2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net) 20

  • Driver Analysis & Communication Objectives

    DRIVER

    ANALYSIS

    Whats the problem?

    OBJECTIVE

    What must the

    communication

    do?

    Visibility

    Aware/

    Consider

    Trial/

    Repertoire

    Regular/

    LoyaltyRepertoire Regular Loyal

    CDF Analysis

    Old fashioned. Old technology

    Few opportunities to ride.

    Not for everyday transport.

    Impractical.Expensive.

    Just a bike.

    Create desire and stand out

    Boast classic performance creds

    Invite them to belong to a community

    Indulge your dreams.Own the legend.

    Extension of personality. Provide finance.

    Community. Personalise, Add value.

    ASSETS/BENEFI

    TS

    What aspects of

    the brand should

    we leverage?

    The bike The engine The experience

    ATL, www, DM, Dealership POP

    Dealerships, Custom options, HD Merch.,

    H.O.G.

    H.O.G. , www,Accessories HD Merch

    Slides containing imagery/reference to other brands are not to

    be used externally, not to be printed or downloaded

    My funnel issue is

    My bottle neck is

    Therefore I must

    By leveraging

    2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net) 21

  • Driver Analysis & Communication Objectives

    DRIVER

    ANALYSIS

    Whats the problem?

    OBJECTIVE

    What must the

    communication do?

    LowVisibility

    Aware/

    Consider

    Trial/

    Repertoire

    Regular/

    LoyaltyRepertoire Regular LoyalCDF Analysis

    Old fashioned.

    Old technology

    Few opportunities

    to ride.

    Impractical.Expensive.

    Just a bike.

    Create desire and stand out

    ASSETS/BENEFITS

    What aspects of the

    brand should we

    leverage?

    The bike

    Boast classic

    performance creds

    The engine

    Invite them to belong to a community

    The experience

    Not for everyday transport.

    Indulge your dreams.Own the legend.

    ATL, www, DM,

    Dealership POP

    Extension of personality.

    Provide finance.

    Dealerships, Custom

    options, HD Merch.,

    H.O.G.

    Community. Personalise, Add value.

    H.O.G. , www,

    Accessories HD Merch

    Slides containing imagery/reference to other brands are not to

    be used externally, not to be printed or downloaded2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net) 22

  • Harley Davidson Assets

    2015-04-13 23Shim, Jaehak (jaehak_shim@cambridgejbs.net)

  • Managing CBEE

    Over Time

    2015-04-13 Shim, Jaehak (jaehak_shim@cambridgejbs.net) 24

    Rei

    nfo

    rcin

    g b

    ran

    ds

    Brand Vision

    Rev

    itali

    zin

    g B

    ran

    ds

    Man

    agin

    g

    the

    Bra

    nd

    Port

    foli

    o

  • Objectives

    Retain an appropriate range of brands to meet differentiation objectiv