The Role of Brands

Signify quality Create barriers to entry Serve as a competitive advantage Secure price premium
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Branding

Endowing products and services with the power of a brand.

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Brand Equity

The differential effect that brand knowledge has on consumer response to the marketing of that brand.

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Brand Knowledge
Thoughts Knowledge Feelings

Beliefs
Experiences

Images

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Marketing Advantages of Strong Brands

Improved perceptions of product performance Greater loyalty Less vulnerable to competition Less vulnerable to crises Larger margins Inelastic consumer response to price increases Elastic consumer response to price decreases Greater trade cooperation Increase in effectiveness of IMC Licensing opportunities Brand extension opportunities
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Brand Promise
The marketers vision of what the brand must be and do for Consumers.

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Aaker Model Brand Identity

Brand-as-product
(Scope, attributes, quality/value, uses, users, Country of origin)

Brand-as-organization
(Organizational Attributes, local vs. global)

Brand-as-person
(Brand Personality, customer relationships)

Brand-as-symbol
(visual imagery/metaphors, Brand heritage)

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Aaker Model Brand Assets

Brand loyalty
Brand associations Proprietary Assets (patents,
trademarks, channel relationships)

Brand awareness Perceived quality

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Brand Resonance Pyramid (sequential series of steps)

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Drivers of Brand Equity

Brand Elements
Marketing Activities Meaning Transference

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Brand Elements
Brand names URLs

Slogans

Elements Logos

Characters

Symbols
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Designing Holistic Marketing Activities

Personalization
(Internet, experiential, one-to-one, permission)

Integration
(mixing/matching marketing activities to maximize individual/collective effects)

Internalization
(activities/processes to inform/inspire employees)
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Measuring Brand Equity

Brand Audits
(health of brand)

Brand Tracking (over time) Brand Valuation (financial worth)

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Managing Brand Equity

Brand Reinforcement
(consistently convey the meaning of the brand)

Brand Revitalization

Brand Crises

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Devising a Branding Strategy

Develop new brand elements
Apply existing brand elements Use a combination of old and new

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Brand Roles in a Brand Portfolio

Flankers
(attack competitor brands so flagship brands retain desired positioning

Cash Cows
(milk reservoir of existing brand equity)

Low-end Entry-level
(attract customers)

High-end Prestige
(adds value & credibility to entire portfolio)
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Cultivating Brand Equity

Internalize the Brand Dare to be Different

Brand Equity

Emotional Connection

Determine your own Fame

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Dare to be Different
The strongest brands reveal a conscious effort to be different Branding strategy goal is to reinforce a demonstrably different service experience with a demonstrably different brand presentation Starbucks could squeeze more tables and chairs into their stores, but doing so would undermine what they are really selling: a respite and a social experience Because of its two-by-two configuration of leather seats (instead of the more common three-by-three seating), Midwest Express Airlines all coach service seems like first class. Enterprise Rent-A-Car customer-contact employees dress for differentiation. Men wear suits and women dresses or shirts and hose.
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Make An Emotional Connection

Great Brands reach beyond the purely rational and purely economic level to spark feelings of closeness, affection, and trust. Consumers live in an emotional world; their emotions influence their decisions. Great Brands transcend specific product features and benefits and penetrate peoples emotions. Charlotte Beers (1998), chairman of J. Walter Thompson, stated The truth is, what makes a brand powerful is the emotional involvement of customers The Globetrotters is a magical branda brand that evokes images of fun and laugher, respect and decency, hard work, and good values. Midwest Express could portray chocolate chip cookies in its advertising, but far more powerful is actually baking them onboard for passengers and serving them with a warm smile

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Internalize the Brand

Internalizing the brand involves explaining and selling the brand to employees. Most of all, internalizing the brand involves involving employees in the care and nurturing of the brand
Enterprise Rent-A-Car
Well pick you up

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