MKT30017-Branding,InnovationandDesignExamRevision

WEEK1:CUSTOMERBRANDRELATIONSHIPS• Differenceb/wProduct+Brand:Product:anythingthatsatisfyneeds+wantsàphysicalgoods/servicesBrand:name,term,sign,designtoIDthegoods/servicesàdifferfromcomp.• WhyBrandimportant?-Impactonhowfeel/act-Brandsimpactonaspectsofourlivesàhowwelive,drive,clothes,etc.-Brandsimpactonhowweperceive+wanttobeperceived-Impactonconsumerbehaviour/decisionmakingprocess/consider/choice• BrandingModels(tobuildbrandidentity)1. MindShareBranding:MindsharerelatesgenerallytothedevelopmentofconsumerawarenessorpopularityàWhenpeoplethinkofexamplesofaproducttypeorcategoryàTheaimofmindshareistoestablishabrandasbeingoneofthebestkindsofagivenproductorserviceEg.Dove(soap),OralB(dentalcare),Ikea(flatpackfurniture)1. Identifiesdistinctivebenefitsfromoneanother2. Differentiatesfromcomp.3. CompulsivelyreiteratesuniquebenefitacrossALLmarketingàBrandonionmodel(brandcoreidentity/essenceremainsunchangedwhiletheextendedidentity/outerlayercanbeupdated)2. EmotionalBranding:MindsharebutacknowledgesthatconsumershavepowerEmotionalappealsintobrandingàspuremotionallychargedr/shipsDecisionsmadeemotionallyEg.Dove(selfesteem)Typology;arrangedmarriages(adoptviahusband’spreferences),casualfriends(cleaningbrands),committed(cooking,cleaningbrands),bestfriends(runningshoes,dietcoke),Kinships(teainheritedfrommum),Rebound,Childhoodfriendships,dependencies,flings,etc.3. ViralBranding:Ensuringthatconsumershavesomethingtotalkabout+channelstodosoConsumersinfluencecreationofbrandGivenmeaningviatrendsetters+influencersàspreadinterestEg.Lululemon,GoPro,Dove

4. CulturalBranding:GoalàbuildintoculturaliconBrandusedassymbolicresourcesforconstruction+maintenanceofidentityBrandtruetowhatstandforàfollowersEg.Nike,CaronaBrandMaturity:Mind-shareàEmotional(focusonbuildingbrandelements+foundations)àViralàCultural(Focusonmanagingbrandmeaning)

WEEK2:BRANDEQUITY+BRANDPOSITIONINGStrongbrandshaveEQUITYàthevalueabrandasvs.competingbrandsàincludessetofassetsàstimulatehigherpricepremiumsORextensionsintoothercategoriesàpowerofbrand=inmindofconsumeràdrivesequity• Customer-basedbrandequity:BrandknowledgeoncustomerresponseSuchasbrandname,otherelementsCanstimulatePOSITIVEorNEGATIVEcustomerbasedbrandequity• BrandKnowledgeCreatedthroughBRANDAWARENESS(recognition/recall)+BRANDIMAGE(brandassociations)Customerbasedbrandequity(CBBE)àwhenconsumerhighlevelofawareness+holdsstrong,favourableanduniquebrandassociationsinmemoryàestablishbrandawarenessthruincreasefamiliarityw/repeatedexposureàcreatelinksinmemorytocues,productcategoriesRECOGNITION-confirmpriorexposurew/cues(logo/symbol)RECALL-retrievefrommemorywhengivencue“whatbrandsdoyoulike?”• BrandImagePerceptions+associationsw/brandheldbycustomerMaybeDIRECT(exposureviapurchase/website)orINDIRECT(wordofmouth/review)+IVEImageàSTRONG,FAVOURABLE,UNIQUEASSOCATIONS3ASSOCIATIONSTOBRANDIMAGE:1. AttributesDescriptivefeaturesthatcharacterizeprod/service2types:Ø ProductrelatedØ Non-productrelated(price,packaging,userimagery/whouses,usageimagery/whenbeingconsumed)2. BenefitsPersonalvalueconsumersattachtoprod/serviceattributes3Types:Ø Functional(Gillette-closeshave,LeanCuisine-ready,lowcarbs)Ø Experimental(Sensoryexp/whatisgainedbyconsumptionàMagnum-indulgentexp./treat)Ø Symbolic(underlyingvaluesàRolex-symb.Benefitsofwealth+senseofaccomplishment)3. Attitudes

ConsumersoverallevaluationofbrandGenerallyfavourable/+iveor–ivejudgementtowardsbrandFormedasRESULTofattributesAND/ORbenefitsofbrandWhendealingw/brandimageàmarketersshouldconsider3Q’s:1. Strength“howfirmlyaresuchassociatesheldinmemory?”2. Favourability“associatesdesirabletoconsumers?”3. Uniqueness“Doassociationseffectivelydistinguishonebrandfromcomp.offerings?”Brandimage(audiencefocused+createdbyperceptionsofconsumer)NOTidentity(companyfocused+createdbymanagerialactivities)• BrandpositioningDesigningbrandsOFFERING+IMAGEsooccupiesdistinct+valuedplaceintargetconsumersmindàclarifieswhatbrandabout+what’suniqueaboutbrandgivingREASONtopurchase3Q’swhendesigningPOSITIONINGSTRATEGY:1. Haveweestablishedframe?(targetmarket+competitors+prod.category)2. Areweleveragingourpointsofparity(POP’s)àsimilaracrossbrandsEGbank-ATMS,loanfacilities,etc3. Arethepointsofdifference(POD’s)compelling?àuniquetobrandàDesirability+DeliverabilitycriteriaNBUpdatingpositioningovertime(evolving)àextensionofpositioning=brandmantras(3-5wordphrasesà“heartandsoul”andusuallyinternallytomotivateandstaytruetoessence3components- Emotionalmodifier(benefits)EGNike“advancedathleticperformance”- Descriptivemodifier(nature)EGMcDonalds“Funfast/familyfood”- BrandfunctionEGBettyCrocker“homemademadeeasy”

WEEK3:BRANDRESONANCE• KELLER4stepstobranddevelopment1. BrandIdentity“Whoareyou?”EnsureIDofbrandw/customers+associationofbrandinconsumersmindw/inprod.category2. BrandMeaning“Whatareyou?”Establishbrandmeaninginmindsàlinktospecificassociationsw/brandtoconsumersknowwhatbrandstandsfor3. BrandResponse“Whataboutyou?WhatdoIthinkIfeelaboutyou?”ElicitproperresponsetobrandID+meaningàmanagethoughts+feelingsaboutbrand4. BrandRelationships“whataboutyouandme?WhatkindofassociationswouldIliketohavew/you?”Convertbrandresponsetocreateintense,active,loyalr/shipw/consumer+brandàtoapplythesesteps6FUNDAMENTALBUILDINGBLOCKS

thegoaltoreachpinnacle+achievebrandresonanceStagesofBrandDevelopment(L)àRATIONALTHINKING/COGNITIVEAPPROACH(salience,performance,judgements,resonance)BrandingObjectives(R)àEMOTIONALAPPROACH(salience,imagery,feelings,resonance)

Ø SalienceProbabilitythatbrandwillberecalledearlyinconsideration(top-mindawareness)Keydimensionsàdepthofbrandawareness(easeofwhichbrandcanberecalled/recognised)àbreadthofbrandawareness(rangeofpurchase+consumptionsituationsinw/brandcomestomind)…thebrandmustnotonlybeTOPOFMIND+havesufficientMINDSHARE,butdosoatrighttimeandplaces

Ø PerformanceWayproduct/serviceattemptstomeetfunctionalneedsCriticalàimpactscustomerexp.+whattheyhearaboutbrandPerformancedimensions:

- Primarycharacteristics+supplementaryfeatures- Productreliability,durability,serviceability- Serviceeffectiveness,efficiency,empathy- Style+design- Price

àstrengthinanyofthese=pointofdifferenceEG.VW(parkassist),Dyson(vacdesign)

- ImageryExtrinsicpropertiesofproduct/serviceinfluencingwaysbrandattemptstomeetpsychological+socialneedsCoredimensionsofimagery:

- Userprofiles(includedemographic-age,gender,race,etc.)- Purchase+usagesituations(eg.Seasonalimplications)- Personalityandvalues- Historyandheritage

EG.Nikonàbrandstory“TEARS”combineshistory+heritagew/differentusagesituations

- BrandPersonality

Setofhumancharacteristicsassociatedw/brandà5COREDIMENSIONS1. SINCERITY(downtoearth,honest,cheerful)eg.DOVE2. EXCITEMENT(daring,spirited,imaginative,uptodate)eg.REDBULL3. COMPETENCE(reliable,intelligent,successful)eg.DHLEXPRESS4. SOPHISTICATION(upperclass,charming)eg.MERCEDESBENZ5. RUGGEDNESS(outdoorsy,tough)eg.EVERLAST

- Judgements+FeelingsDealw/howcustomersRESPONDtobrandJUDGEMENTS:responsesarisefrom‘HEAD’4Types:

1. Quality(content+materials)2. Credibility(expertise,trustworthiness,likeability?)3. Consideration(willingtoconsider?)4. Superiority(betterthancomp?)

FEELINGS:responsesarisefrom‘HEART’6Types:

1. Warmth2. Funeg.Disney3. Excitementeg.Redbull4. Securityeg.Volvo5. SocialApprovaleg.Mercedes“madeit”6. Self-respecteg.BodyShop“feelgoodaboutself”

- Resonance

Natureofr/shipcustomershavew/brandGoal=good,longlastingsopersonallyidentifyw/brand4keywayscustomersresonatew/brand:

1. BehaviouralLoyalty(repeatpurchases,favbrand)2. AttitudinalLoyalty(personalattachment)3. SenseofCommunity(feelkinship/affiliationeg.Apple)4. ActiveEngagement(willingtoinvestresourcesbeyondpurchase)

EXAMPLES: