strategic brand management

Xây dựng thương hiệu là quá trình lựa chọn và kết hợp các thuộc tính hữu hình cũng như vô hình với mục đích để khác biệt hóa sản phẩm, dịch vụ hoặc tập đoàn một cách thức thú vị, có ý nghĩa và hấp dẫn.Để có thể xây dựng thương hiệu phát triển bền vững trong dài hạn, các doanh nghiệp có thể tham khảo năm bước sau: (1) Xác định cấu trúc nền móng thương hiệu; (2) Định vị thương hiệu; (3) Xây dựng chiến lược thương hiệu; (4) Xây dựng chiến lược truyền thông; (5) Đo lường và hiệu chỉnh.

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Strategic Brand Management

Overview

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What is a Brand?

design, or a combination of them, intended

to identify the goods or services of one seller

or group of sellers and to differentiate them from those of competitors.

recognised throughout much of the world.

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Power Brands

p.3

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The Top Determinants of Brand

Strength

Customer Loyalty Price Premium

“An increase in customer loyalty of only 5% can lift lifetime profits per customer by as much as 95%”

“In some sectors, an increase of customer loyalty of just 2% is equivalent to a 10% cost reduction”

“Over 50% of customers would be willing to pay 20-25% price premium to the brand that they are most loyal to”

“A 1% increase in brand equity can result in a 1% increase in stock price”

“50% of customers are willing to try a new product from a preferred brand because of the implied endorsement, credibility and trust.”

“It takes 7 to 10 times the cost and effort to gain a new customer as it does to keep an existing customer”

“I Would Travel Further”

“I Would Pay More”

“I Would Wait Longer”

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What is Brand Management?

Functional Excellence in Support of the Brand

Primary Source of Differentiation

• Product/service innovation and communication

Purpose of the Brand

• Create or reinforce product distinctiveness

Firm wide Leadership in Stewarding the Brand

Primary Source of Differentiation

• Customer experience, in addition to

innovation and communication

Purpose of the Brand

• Provide clear set of values along

which to align all enterprise activities and investments

Source: Corporate Executive Board

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Innovative Analysts

Archeologists Sociologists Politicians General Managers Templar Knights of Equity

Evangelists Brand Stewards

Brand Champions

CONSUMER CHAMPION

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“You have to maintain and replenish

a brand over time or it will die”

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What is a Brand Management?

• Brand Building Begins By

– Understanding & anticipating the needs and desires of the consumer

– Understanding the key attributes of the

product(s)

• Our Mission is to DISCOVER (rather than Invent) the brand’s CORE VALUES and

abide by them.

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Customer-Based Brand Equity (CBBE) Model

3 Differential Effect

2 Brand Knowledge

1 Consumer Response to Marketing

Brand Equity arises from differences in CONSUMER response

What CONSUMERS learned, felt, seen, heard, experienced over time

Reflected in CONSUMER perceptions, preferences, and behavior related to all aspects

of the marketing of a brand

Can there be Positive or Negative Brand Equity?

How and Why?

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Effect of Brand Perceptions

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Customer-Based Brand Equity (CBBE) Model

2 Brand Knowledge What CONSUMERS learned, felt, seen, heard, experienced

The Key

To EQUITY

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•Trial Inducement Promotions

•Loyalty Building Promotions

Consumer Conversion Model

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What Drives

Your Economic Engine

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Brand Unit Shares

4%

13%

3%

80%

Brand A Brand B Brand C All other

Brand Dollar Shares

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Assessing Power Brands

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Advantages of Power Brands

effectiveness

• Possible licensing opportunities

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Power Brands

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• WD-40 has gone

against the grain for more than half a

century by showing and telling consumers that it’s a product that can do it all

• company’s messages about its 2000

applications and tips from helpful friends

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Power Brands

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• Assessing BRAND POWER

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The influence or dominance that a brand has over its

category or market (more than just market share)

Power Brands

Source: Interbrand

BRAND WEIGHT

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The stretch or extension that the brand has achieved in the past or is likely to achieve in the future (especially outside its original category)

Power Brands

Source: Interbrand

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The breadth of franchise that the brand has achieved both in terms of age spread, consumer types and international appeal

Power Brands

Source: Interbrand

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Transform-Model-Based Marketing Planning

Obsessive Implement- ation

Diagnostic Metrics

Source: Kevin Clancy, Copernicus, Counter Intuitive

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Brand Vision

MUST BE:

So big, so bold and so audacious that

expressing it – never mind executing it – has

a transformational effect You start to

become what you want to be The dream

and the reality fuse.

Source: Kevin Clancy, Copernicus, Counter Intuitive

i.e YOU NEED A BIG HAIRY VISION

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Brand Vision Checklist

Inspirational & uplifting; it moves people

Exciting; it gets the blood pumping

Aspirational; it is barely attainable

Readable; it is clearly communicated

Unique/special/different

Very specific, not general

Connotes superiority or domination

Bold and brash; it oozes with confidence

Causes people to want to invest in/work for the company or buy the company’s products

Transformational, revolutionary, not evolutionary

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Brand Vision

A beverage company

“We exist to create value for our shareholders

on a long-term basis by building a business that enhances the company’s trademarks.”

Kevin Clancy, Copernicus, Counter Intuitive

Grade = 63

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Brand Vision

A beverage experience company

“To have bigger brand awareness then

Coca-Cola.”

Source: David Sutton, Zyman Marketing

Big Hairy Audacious Goal

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Brand Vision

A gasoline company

“We will become the dominant brand in the service station industry and beyond – with the friendliest, fastest, cleanest stations

everywhere – one of the most admired

brands on the planet.”

Kevin Clancy, Copernicus, Counter Intuitive

Grade = 96

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• Allow Consumers to clearly identify and specify products which genuinely offer

added value.

• Deep respect for the way products fit into consumer’s lives = “core” of success

• Consumer Relationship = Loyalty

• Social Changes in their favor

POWER BRANDS

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Consumer Driven Strategic Branding

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Use The Brand Value Chain to determine

Measurement Tactics and Resulting Marketing Strategies

Value

Stages

Marketing Program Investment

Customer Mindset

-Employee -Other

-Awareness -Associations -Attitudes -Attachment -Activity

-Price Premiums -Price Elasticity's -Market Share -Expansion Success -Cost Structures -Profitability

-Stock Price -P/E Ratio -Market Capitalization

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Use The Brand Value Chain to determine

Measurement Tactics and Resulting Marketing Strategies

Value

Stages

Marketing Program Investment

Customer Mindset

Investor Sentiment

-Clarity -Relevance -Distinctiveness -Consistency

-Competitive reactions -Channel Support -Customer size & Profile

-Market Dynamics -Growth Panel -Risk Profile -Brand Contributions

Brand Value Chain & Testing

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Strategic Marketing Process

Three Year and ANNUAL Objectives

What do I want to Accomplish Objectives Should be S.M.A.R.T

Establish Positioning Concept

Marketing Plan Execution

Functional Objectives &

Strategies And Tactical Plan

Physical Product

Package

Pricing

Advertising Media

Public Relations

Consumer &

Retailer Promo

Market Research

Market &

Competitive Trends Consumer Insights SWOTs

Marketing Mix

Financial Health

Strategic Implications & Strategy Development

Core Competencies, External Opportunities

Brand Vision Brand Strategy Strategic Role

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Market &

Competitive Trends

Consumer Insights

SWOTs

Marketing Mix

Financial Health

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ANNUAL STRATEGIES

How will the objectives be achieved?

Consumer &

Retailer Promo

Market Research

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Initial Strategic Planning

Draft TimeLine

• Key Timing

EDLONG STRATEGIC PLAN TIMELINE

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Physical Product

Package

Pricing

Advertising Media

Public Relations

Consumer &

Retailer Promo

Market Research

Market &

Competitive Trends Consumer Insights SWOTs

Marketing Mix

Financial Health

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Brand Marketing Process

Market &

Competitive Trends

Consumer Insights

SWOTs

Marketing Mix

Financial Health

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Strategic Marketing

Market Trends Checklist

Volume & Share

•Industry definition & served market

•Category Size & growth rates

•Category Segmentation, trends, importance to category

•Share of market by brand & by segment

•Importance of the category to the retailer

•Retailer focus on private label

•Retailer influence over category marketing activity

Consumer Conditions

•Substitute products

•Changes in tastes/attitudes/needs

Government Conditions

•Regulations & Reqs.

•Legislative issues

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• Assessing Competitive Trends

Strategic Marketing

Competitor Identification

•Key direct competitors

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• Assessing Competitive Trends

Strategic Marketing

Competitor Identification

•Key direct competitors

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Market &

Competitive Trends

Consumer Insights

SWOTs

Marketing Mix

Financial Health

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Measuring Brand Equity

SWOT

• Purpose: to guide thinking and help distill the key issues and opportunities facing the Brand AND the category

• Can be done in competitive analysis

STRENGTH

Inherent source of competitive

advantage within the Brand (of

genuine relevance to the consumer)

WEAKNESS

Inherent cause of competitive disadvantage within the Brand (of genuine importance to consumer)

OPPORTUNITY

Unsatisfied or poorly satisfied need

in the marketplace which our

company can perform profitability

THREAT

Potential problem from external source which could undermine our Brand’s competitive position if not addressed.

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SWOT

STRENGTH

Inherent source of competitive advantage within the Brand (of genuine relevance to the consumer)

WEAKNESS

Inherent cause of competitive disadvantage within the Brand (of genuine importance to consumer)

INTERNAL to the brand Caused by the inherent nature of the Brand or our

management of it

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SWOT

OPPORTUNITY

Unsatisfied or poorly satisfied need

in the marketplace which our

company can perform profitability

THREAT

Potential problem from external source which could undermine our Brand’s competitive position if not addressed.

EXTERNAL to the brand Markets, competitors, retail, social trends etc

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Market &

Competitive Trends

Consumer Insights

SWOTs

Marketing Mix

Financial Health

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Consumer Insights

In order to improve your consumer understanding:

– Rather than identify consumers, identify WITH them

– Knowledge only gets you halfway there-you need a plan

to put into action– Know what is in your consumers hearts and minds…as well as the market research numbers

– Be curious about the world around and human behavior

Dave Sutton, Zyman Marketing Group

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• There are MACRO TRENDS that impact each

•Tasks & Activities

•Usage & User Behavior

•Product Benefits

•Product Details

WHAT is happening (Information)

WHY is it happening (Understanding)

Macro Trends

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– Did it tie to the brand essence?? Did it work?

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Consumer Insights

• Thermasilk:

– A line of shampoos, conditioners and styling products that actually improves the condition of hair when activated by heat…

– Positioned as the hair care line for healthy hair (for heavy stylers/users)

– Addressed the insight that women worry that they are damaging their hair by styling with heat, but are unwilling to give up the styling benefits

– Was the insight relevant? Did the product meet expectations? Did it work?

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Consumer Insights

• Facts = “Duh”

• Insights = “AHA”

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Expressive

Functional

Very meaningful in differentiating our Brand but very difficult to deliver

consistently to our consumers

Easy to deliver and explain

to consumers but also easy to imitate

Beliefs &

Core Values

Benefits

Features &

Attributes

Brand Value Corresponding to

Brand Hierarchy Pyramid

Source: Hierarchy : Timothy D Ennis, Ennis Associates, Inc.

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Brand Value:

Brand Hierarchy Pyramid

Beliefs &

Core Values

Benefits

Features &

Attributes

The emotional beliefs and

values that consumers feel

are being addressed by our

brand (CENTRAL)

The functional and emotional

benefits that our

consistently to our consumers

Easy to deliver and explain

to consumers but also easy to imitate

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4 Steps of Brand Building

Consumer Questions Brand Actions

1 WHO Are You?

Ensure Identification & association w/category or need

2 WHAT Are You? Firmly establish TOTAL brand meaning by strategically linking

associations w/certain properties

3 WHAT About You? Elicit consumer response to brand meaning and Id

4 WHAT About You AND ME?

Convert Brand Response to create

an intense, active loyal relationship

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4 Steps of Brand Building

Consumer Questions Brand Actions

1 WHO Are You?

Brand Identity

2 WHAT Are You? Brand Meaning

3 WHAT About You? Brand Responses

4 WHAT About You AND ME?

Brand Relationships

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Consumer Conversion Model

•Trial Inducement Promotions

1 Brand Identity (WHO Are You?)

2 Brand Meaning (WHAT Are You?)

3 Brand Response (WHAT About You?)

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Consumer-Based Brand Equity

Pyramid

Brand Salience

Brand

Consumer-Resonance

Consumer Judgments

Consumer Feelings

Brand Performance

Brand Imagery

4 Brand Relationships (WHAT About You AND ME?)

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Consumer-Based Brand Equity

Quality Credibility Consideration Superiority

Warmth, Fun Excitement, Security, Social Approval, Self-Respect

4 Brand Relationships (WHAT About You AND ME?)

User Profiles Purchase and Usage Situations

Personality & Values History, Heritage, &

Experiences

Brand Characteristics

& Secondary Features Product Reliability, Durability & Serviceability Service Effectiveness, Efficiency,

& Empathy Style and Design; Price

Category Identification Needs Satisfied

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