Upload
stacy
View
1.861
Download
1
Tags:
Embed Size (px)
DESCRIPTION
Citation preview
Brand Audit
ByGurpreet Pan j ra th
Hs in Y ing L inPornt ip Chantawech
Agendao Company Backgroundo Brand Valueso Brand Positioning VS. Competitors
Positioningo Target Marketo Points of Parity and Points of Differenceo Core Brand Associationso Sources and Outcomes of Brand Equityo Brand Identityo Brand Personalityo Brand Elements Analysiso Marketing Communicationso Secondary Brand Associationso Facebook Application Reviewo Brand Report Cardo Recommendations
Part 1 Company Background
Company Profile
Found• June 2008 by
Camille Landau
Service• Connects Post-
ers and Refer-ers
Creative Model• Incentives for
Refer-ers
Strengths• Entrepreneurial,
strategy and marketing skills
• Creative business model
Weakness• Weak brand• Low customers
awareness
Opportunities• The growth of social
networking websites• Customers’ behaviors
toward recession period
Threats• Low barrier in market• Alternative options for
customers exist
SWOT Analysis
Part 2 Current State of Brand
and Brand Inventory
Creativity Classy Innovative
Brand Values
Brand Values: The brand value reflects how a product's name, or company name, is perceived by the marketplace, whether that is a target audience for a product or the marketplace.
Brand Positioning
Brand Positioning: Act of designing the company’s offer and image so that it occupies a distinct and valued place in the target customers’ minds.
ReferQuest’s Positioning Statement
“For busy professionals who need to outsource the pain, win time, stay organized, and enjoy maximize accountability from searching for goods or services, ReferQuest is the free online broker which provides the place where customers can search for whatever they want in a more cost-effective, quick, and reliable way than any other online classified advertising websites because only ReferQuest lets buyers offer rewards to motivate an “army of Refer-ers” to involve and find effective solutions on their behalf.”
Positioning Perceptual Map
High Reliability
Low Reliability
Slow Fast
Positioning Perceptual Map: A graphics technique used by asset marketers that attempts to visually display the perceptions of customers or potential. Typically the position of a product, brand, or company is displayed relative to their competition.
Target Market
Individuals Segment
Business Segment
Target Market - Individuals
Source: www.sric-bi.com/VALS/types.shtml
1. Post-ersThinkers - seeking durability, functionality, and values in products
2. Refer-ersExperiencers - seeking variety and socializing
Target Market - Business
Industry:
Technology
Medicine
Legal
Etc.
Company size:
Small
Medium
Location:
Worldwide
Category POPs
• Web-based application that users can post request about something they are looking for
Competitive POPs
• Offer integrated application with social networking websites
• Process the money transaction by Paypal
PODs
• Offer rewards for Refer-ers who are able to match the product/service
Points of Parity: Attributes or benefits that are not necessarily unique to the brand but share with other brandsPoints of Difference: Attributes or benefits that customers strongly associate with a brand and believe that they could not find with a competitive brand
POPs and PODs
Core Brand Associations
ReferQuest
Reward for Refer-ers
Facebook Application
Post requests for free
Cut agency cost
Monetize social capital
Brand Awareness
Brand Recall: The brand is fairly new
and difficult to recognize and associate it
Brand Recognition:The words ‘refer’ and
‘quest’ are easily recall and can be associated
with
Brand Image
Brand Attributes: Descriptive features
Brand Benefits: Value and meaning
Sources of Brand Equity
Outcomes of Brand Equity
Greater Loyalty
Increase Marketing
Communication Efficiency
More Favorable Brand
Extension
Brand Identity
Brand Identity: The combination of all brand elements including the name, logo, tagline, URL, jingle, packaging, spokespeople and other aspects.
Brand Name URL
Logo Tagline
“ReferQuest”
www.ReferQuest.com
Brand Identity
Excitement Daring (trendy)Spirited (cool/young),Imaginative (unique)Up-to-date(independent/contemporary)
Brand Personality
Brand Personality: is inevitably influenced by the nature of the product category itself
Mark Zuckerberg, Founder and CEO of facebook
Describes function of the service literally
Suggest the benefits or function of the
service
A combination two meaningful words: “Refer” and “Quest”
Landor’s Brand Name Taxonomy
Descriptive Suggestive Compounds
Brand Name Analysis
CriteriaAchiev
ePros Cons Remark
Simplicity and Ease of Pronunciation and Spelling
Yes - Reduce encoding and storing process in consumers’ brain
- Increase ability to recall and recognize brand name
- Could be misspelled ex: “RefereQuest”
Familiarity and Meaningfulness
Yes - Improve brand’s recallability
- Facilitate customers to create association between brand name and service’s functions
Differentiated, Distinctive and Unique
No - The brand name is come from the common words which is not complex nor distinctive
Marketers should select other brand elements that facilitates customersto discriminate between brandsBrand Recall: Ability to retrieve the actual brand element from memory when given some related probe or cue
Brand Recognition: Ability to identify the brand under a variety of circumstances and can rest on identification of any brand elements
Brand Name’s Linguistic Review
ReferQuest
Short “e” evokes speed and lends
crispness
“f” is fast sound
The full stop of “t” connotes slowness
Brand Name Analysis
Effective shorthand means
Reduce encoding and storing process in consumers’ brain
Increase ability to recall and recognize brand name
Facilitate customers to create association between brand name and functions
Benefits
Could be misspelled with “Referequest”
No association with PODs
Difficult to distinguish from other brands
Drawbacks
URL Analysis
www.ReferQuest.com
The same with brand name Protect brand from
unauthorized use
Increase brand recognition
Tagline Analysis
request, refer, reword
Use rhythm to create strong links & aid brand
recall
Too specific the tagline to be transferred across
categories
Rich in verbal imagery
Describe its particular service & key benefits
directly Not flexible enough to update for fulfilling
changes in consumer values
Logo Analysis
Font: Century GothicHighly readable,
comforting though not exciting
Blue:Confidence, Secure and
TrustworthyOrange:
Creative and enthusiasm
Symbolic2-way communication
Interactive
ElementsMemorabl
e Meaningf
ul Likable
Transferable
Adaptable
Protectable
1. Brand Name“ReferQuest”
2. URLwww.ReferQuest.com
3. Logo
4. Tagline
Brand Element Analysis
Marketing Communications
Marketing Communication: The mean by which firms attempt to inform, persuade, and remind customers – directly or indirectly – about the brands they sell.
Public Relations and Publicity• Press Release
Online Ads• Its own website• Social networking
sites
ReferQuest
Marketing Communications
Marketing Communications
Marketing Assessment
No apparent investment
in keyword buys Or
natural/organic searches
Secondary Brand Associations
Co-Branding: Two or more existing brands are combined into a joint product or are marketed together in some fashion.
Paypal
Advantages:
• Borrow needed expertise• Leverage equity you don’t
have• Increase access points• Reduce cost of production
Disadvantages:
• Risk the brand equity dilution• Loss of control• Negative feedback effectsCo-
Branding
Brand Report Card
Questions Score Remarks
Is the brand proper positioned? 4- Re-positioning the brand in order to achieve reliable position in consumers’ perception
- Select brand elements that can help to improve the positioning in reliability aspect
Is the brand reliable? 2
Can you recognize or recall the brand name “ReferQuest”?
4Keep the name but recommend options to encode the service and still retain its recallability
How strongly can you relate the logo with the core brand value of “ReferQuest”?
3
Create a new logo by using symbol such as money symbolic or magnifier icon to create strong links to reinforced benefits of the brand
Do you like the full logo (with the tagline)? 3
Create new tagline to make it formal; enhance it to be completely descriptive so that consumers will know exactly what the site does and what are the benefits
Do you like the tagline – “request, refer, reword”?
2
Does the tagline facilitate you to create association between brand and benefits?
2.5
Part 3 Desired State of the
Brand and Recommendations
Brand Positioning
High Reliability
Slow Fast
Low Reliability
Competence
Reliable (hard
working/secure)
Intelligent
(technical/corporate)
Successful
(leader/confidence)
Innovative
Professional
Brand Personality
Larry Page, Founder and CEO of Google
Brand Name
OptionsCurrent
“ClawBuzz”
“Qureka”
“ReferQuest”
Brand Name Options
Name Criteria Achieve Pros Cons
“ClawBuzz” Simplicity and Ease of Pronunciation and Spelling
Yes - Reduce encoding and storing process in consumers’ brain
- Increase ability to recall and recognize brand name
Familiarity and Meaningfulness
Yes - Improve brand’s recallability
- Facilitate customers to create association between brand name and service’s functions
Differentiated, Distinctive and Unique
Yes - The name is unique (Combination of unexpected words) which is easily to distinguish
- Other brand elements must be able to facilitate customers to create the association with brand’s benefits
Brand Name Options
Name Criteria Achieve Pros Cons
“Qureka” Simplicity and Ease of Pronunciation and Spelling
Not really - Reduce encoding and storing process in consumers’ brain
- Increase ability to recall and recognize brand name
- Easy to mispronounce to “Q-u-re-ka”
Familiarity and Meaningfulness
Yes - Improve brand’s recallability
- Facilitate customers to create association between brand name and service’s functions
Differentiated, Distinctive and Unique
Yes - The name is unique (Fancy) which is easily to distinguish
- Other brand elements must be able to facilitate customers to create the association with brand’s benefits
Brand Name Recommendation
Brand Name
Memorable Meaningful LikableTransferabl
eAdaptable Protectable
ReferQuest
5 5 3 1 1 2
Enhance brand recall and
recognition
Can reinforce mostly of
associations
Can evoke much verbal imaginary
Difficult DifficultCan be easily
copied
ClawBuzz
4 2 3 1 1 2
Somehow enhance brand
recall and recognition
Can reinforce some of
associations(indirectly)
Can evoke much verbal imaginary
Difficult DifficultCan be easily
copied
Qureka
5 3 5 3 1 5
Enhance brand recall and
recognition
Can reinforce some of
associations(indirectly)
Rich verbal imaginary
Can be transferred
across product categories
Difficult Excellent
Options
Current
Tagline
“Get what you quest, Reward when you refer”
“Free request, Quick refer, Great reward”
“Refer, Request, Reward”
Tagline Recommendation
Tagline Memorable Meaningful LikableTransferabl
eAdaptable Protectable
Refer, Request, Reward
5 2 3 1 5 2
Enhance brand recall and
recognition
Can convey some
association but limited
Rich in verbal imagery and
inherently fun and interesting
Difficult to transfer across
categoriesExcellent
Can be easily copied
Get what you quest,
Reward when you refer
5 5 3 1 5 2
Enhance brand recall and
recognition
Can convey mostly type of associations
Rich in verbal imagery and interesting
Difficult to transfer across
categoriesExcellent
Can be easily copied
Free request, Quick refer, Great reward
5 5 4 1 5 2
Enhance brand recall and
recognition
Can convey mostly type of associations
Rich in verbal imagery and
inherently fun and interesting
Difficult to transfer across
categoriesExcellent
Can be easily copied
Logo
Brand Identity
Brand Name URL
Logo Tagline
“ReferQuest”
www.ReferQuest.com
Brand Identity
Marketing Communications
Online Marketing• SEO• Online Ads• Digital Assets• Email
Buzz Marketing
Mobile Marketing
Public Relation• Blogs• Newsletter• Events
Web Personalization
Outsource the pain, win time, stay
organized, and enjoy maximize
accountability
Search for whatever you need in a more
cost-effectively, quickly, and reliably
way
ReferQuest
• Borrow needed expertise• Leverage equity: Professional and Reliable• Increase access points
Co-Branding
• Secure and publicize reliable ratings• Improve perceptions and attitudes toward
brands.
Other third-party sources
Secondary Brand Associations
• User can specify category that they want to post asking for referral
• The text labels are informative and useful
• Pages are cluttered and not organized
• Not user friendly and hard to navigate
• No pagination • The add widget section is
very confusing• User can search for the posts
by only one criteria• Dead-end page• The forms are not well-
organized
Facebook Application Review
Benefits Drawbacks
Facebook Application Review
• Provide search criteria that users can select to view the posts such as post title, category, location, and amount of reward
• Define the maximum records that will display in each page and implement the pagination
• The posts list should be display only the title because users will be able to choose what they want to see instead of loading all posts’ details.
Recommendation
Keller, Kevin Lane. Stragegic Brand Management: Building, Measuring, and Managing Brand Equity. 3rd ed. New Jersey: Pearson Prentice Hall, 2008. Print.
Stone, B., & Jacobs, R. (2008). Successful Direct Marketing Methods (8th ed.). Two Penn Plaza, NY: Mc Graw Hill.
A New Facebook Application Offers Users a Chance to Convert "Social Capital" into Money , Anonymous. Business Wire. New York:Jul 1, 2009.
New ABCs of Branding, Sharon Begley, Wall Street Journal, 8/26/02
Erickson, David. "LinkedIn Best Practices For Business." Weblog post. EStrategy Internet Marketing Blog. 18 May 2009. Web. 31 July 2009. <http://e-strategyblog.com/2009/05/linkedin-best-practices-for-business/>.
LinkedIn Corporation. LinkedIn Professional Network Reaches 10 Million Users. Press.linkedin.com. LinkedIn Corporation, 11 Apr. 2007. Web. 31 July 2009. <http://press.linkedin.com/pressreleases/linkedin-reaches-10-million-users>.
References
Thank You