Strategic Brand Management Chapter 13
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Transcript of Strategic Brand Management Chapter 13
13.1
CHAPTER 13:CHAPTER 13: MANAGING BRANDS OVER TIME MANAGING BRANDS OVER TIME
Kevin Lane KellerKevin Lane KellerTuck School of BusinessTuck School of Business
Dartmouth CollegeDartmouth College
13.2
Reinforcing BrandsReinforcing Brands
Generally, we reinforce brand equity Generally, we reinforce brand equity by marketing actions that by marketing actions that consistently convey the meaning of consistently convey the meaning of the brand to consumers in terms of the brand to consumers in terms of brand awareness and brand image. brand awareness and brand image.
13.3
Managing Brands over Managing Brands over TimeTime
Effective brand management requires Effective brand management requires taking a long-term view of marketing taking a long-term view of marketing decisionsdecisions Any action that a firm takes as part of its Any action that a firm takes as part of its
marketing program has the potential to marketing program has the potential to change consumer knowledge about the change consumer knowledge about the brand.brand.
These changes in consumer brand These changes in consumer brand knowledge from current marketing activity knowledge from current marketing activity also will have an indirect effect on the also will have an indirect effect on the success of success of futurefuture marketing activities. marketing activities.
13.4
Consumer response to past marketing activities
Consumer response to future marketing activities
Consumer response to current marketing activities
Brand awareness and brand image
Changed brand awareness and brand image
13.5
Reinforcing BrandsReinforcing Brands
Maintaining brand consistencyMaintaining brand consistency Consistent marketing support in amount Consistent marketing support in amount
and natureand nature Protecting sources of brand equityProtecting sources of brand equity Fortifying versus leveragingFortifying versus leveraging
Trade-offTrade-off Fine-tuning the supporting marketing Fine-tuning the supporting marketing
programprogram
13.6
Innovation in productdesign, manufacturing and merchandising
Relevance in userand usage imagery
Consistency in amount and natureof marketing support
Continuity in brand meaning; changes in marketing tactics
Trading off marketingactivities to fortify vs. leverage brand equity
Protecting sources of brand equity
Brand Awareness
•What products does the brand represent?•What benefits does it supply?•What needs does it satisfy?
BrandReinforcementStrategies
Brand Image
•How does the brand make products superior?•What strong, favorable, and unique brand associations exist in customers’ minds?
13.7
Revitalizing BrandsRevitalizing Brands
Expand the depth and/or breadth of Expand the depth and/or breadth of awareness by improving consumer recall awareness by improving consumer recall and recognition of the brand during and recognition of the brand during purchase or consumption settingspurchase or consumption settings
Improve the strength, favorability, and Improve the strength, favorability, and uniqueness of brand associationsuniqueness of brand associations——either either existing or newexisting or new——making up the brand making up the brand imageimage
13.8
Brand RevitalizationStrategies
Refresh old sourcesOf brand equity
Create new sourcesOf brand equity
Expand depth and Breadth of awareness And usage of brand
Increase quantityof consumption(how much)
Increase frequencyof consumption(how often)
Improve strength,favorability, and uniqueness of brandassociations
Bolster fading associations
Neutralize negative associations
Create new associations
Identify additionalopportunities touse Brand in Samebasic way
Identify completelynew and differentways to use
Retain vulnerablecustomers
Recapture lostcustomers
Identify neglectedsegments
Attract new customers
13.9
Strategies to Revitalize Strategies to Revitalize BrandsBrands
Expanding brand awarenessExpanding brand awareness Breadth challengeBreadth challenge
Improving brand imageImproving brand image Repositioning the brandRepositioning the brand Changing brand elementsChanging brand elements
Entering new marketsEntering new markets
13.10
Expanding Brand Expanding Brand AwarenessAwareness
Increasing usageIncreasing usage Increasing the level or quantity of Increasing the level or quantity of
consumptionconsumption Increasing the frequency of consumptionIncreasing the frequency of consumption
Identifying new or additional usage Identifying new or additional usage opportunitiesopportunities Communicate appropriateness of more Communicate appropriateness of more
frequent use in current situationsfrequent use in current situations Reminders to useReminders to use
Identifying new and completely different Identifying new and completely different ways to use the brandways to use the brand
13.11
Improving the Brand ImageImproving the Brand Image Repositioning the brandRepositioning the brand
Establish more compelling points of Establish more compelling points of difference difference
In some cases, a key point of difference may In some cases, a key point of difference may turn out to be nostalgia and heritage turn out to be nostalgia and heritage rather than any product-related difference. rather than any product-related difference.
Other times we need to reposition a brand Other times we need to reposition a brand to establish a point of parity on some key to establish a point of parity on some key image dimension. image dimension.
Changing brand elementsChanging brand elements Convey new information or signal that the Convey new information or signal that the
brand has taken on new meaning brand has taken on new meaning
13.12
Improving the Brand ImageImproving the Brand Image
Go “back to basics” and tap into Go “back to basics” and tap into existing sources of brand equity existing sources of brand equity (e.g., Harley-Davidson)(e.g., Harley-Davidson) Product strategyProduct strategy Pricing strategyPricing strategy Channel strategyChannel strategy Communication strategyCommunication strategy
Create new sources of brand equity Create new sources of brand equity (e.g., Mountain Dew)(e.g., Mountain Dew)
13.13
Entering New MarketsEntering New Markets
One strategic option for revitalizing One strategic option for revitalizing a fading brand is simply to more a fading brand is simply to more or less abandon the consumer group or less abandon the consumer group that supported the brand in the past that supported the brand in the past to target a completely new market to target a completely new market segment. segment.
13.14
Adjustments to Brand Adjustments to Brand PortfolioPortfolio
Migration strategiesMigration strategies A corporate or family branding strategy in which A corporate or family branding strategy in which
brands are ordered in a logical manner could provide brands are ordered in a logical manner could provide the hierarchical structure in consumers’ minds to the hierarchical structure in consumers’ minds to facilitate brand migration. facilitate brand migration.
Example: BMW with its 3-, 5-, and 7-series numbering Example: BMW with its 3-, 5-, and 7-series numbering systems systems
Acquiring new customersAcquiring new customers Tradeoffs in their marketing efforts between attracting Tradeoffs in their marketing efforts between attracting
new customers and retaining existing onesnew customers and retaining existing ones Firms must proactively develop strategies to attract Firms must proactively develop strategies to attract
new customers, especially younger ones. new customers, especially younger ones. Retiring brandsRetiring brands