6 - Building Brand Equity - Brand Elements and Mktg Programs, Part 1 w

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Building Brand Equity Brand Elements and Marketing Programs:

Building Brand Equity Brand Elements and Marketing Programs Session 6, Part 1 Ted Simon T. Simon MKT 325 - Sp 2015 1

Keller’s Model for Building CBBE:

Keller’s Model for Building CBBE Brand knowledge structures depend on Initial choices for the brand elements Supporting marketing programs and the manner by which the brand is integrated Other associations indirectly transferred to the brand by linking it to some other entities T. Simon MKT 325 - Sp 2015 2

Keller’s Model for Building CBBE:

Keller’s Model for Building CBBE Brand knowledge structures depend on Initial choices for the brand elements Supporting marketing programs and the manner by which the brand is integrated Other associations indirectly transferred to the brand by linking it to some other entities T. Simon MKT 325 - Sp 2015 3

Agenda:

Agenda Building Brand Equity via Brand Elements Marketing Mix/Programs T. Simon MKT 325 - Sp 2015 4

Fundamentals Still Apply:

Fundamentals Still Apply T. Simon MKT 325 - Sp 2015 5 IMPLEMENTATION

Imagine the following…:

Imagine the following… Extremely reliable service for important overnight deliveries Casual, affordable dining experience for the whole family T. Simon MKT 325 - Sp 2015 6

An idea :

An idea T. Simon MKT 325 - Sp 2015 7 “a road vehicle, typically with four wheels, powered by an internal engine and able to carry a small number of people .”

Same idea?:

Same idea? T. Simon MKT 325 - Sp 2015 8

Slide9:

T. Simon MKT 325 - Sp 2015 9

Slide10:

T. Simon MKT 325 - Sp 2015 10

Criteria for Choosing Brand Elements:

Criteria for Choosing Brand Elements Memorability Easily recognized, recalled Meaningfulness Descriptive, relevant, persuasive Likability Fun, interesting, rich imagery Transferability Within/across product categories Across geography, cultures Adapatability Flexible, updatable Protectability Legally, competitively T. Simon MKT 325 - Sp 2015 11 OFFENSIVE STRATEGY: BUILD BRAND EQUITY DEFENSIVE ROLE: LEVERAGE, MAINTAIN BRAND EQUITY

Types of Brand Elements:

Types of Brand Elements T. Simon MKT 325 - Sp 2015 12

Inherent Drama:

Inherent Drama Ideally, brand elements draw from unique, differentiating characteristics that reside within the product, its benefit and/or its promise to consumers “Inherent Drama” T. Simon MKT 325 - Sp 2015 13

Slide14:

T. Simon MKT 325 - Sp 2015 14

Brand Names:

Brand Names Captures the central theme or key associations of a product in a very compact and economical fashion Most difficult element for marketers to change Closely tied to the product in the minds of consumers T. Simon MKT 325 - Sp 2015 15

Brand Names:

Brand Names Naming guidelines Simplicity and ease of pronunciation and spelling Familiarity and meaningfulness Differentiated, distinctive, and unique Naming procedure Define objectives Generate names Screen initial candidates Study candidate names Research the final candidates Select the final name T. Simon MKT 325 - Sp 2015 16

Uniform Resource Locators (URLs) :

Uniform Resource Locators (URLs) Specify locations of pages on the Web - domain names Reinforce brand Protect the brand from unauthorized use by others Cybersquatting - Registering, trafficking in, or using a domain name with bad-faith to profit from the goodwill of a trademark belonging to someone else T. Simon MKT 325 - Sp 2015 17

Logos and Symbols:

Logos and Symbols Important role in building brand equity and especially brand awareness Easily recognizable, “signals” the brand Versatile Adaptable – can evolve over time Range from corporate names or trademarks written in a distinctive form to abstract designs that may be completely unrelated to the corporate name or activities T. Simon MKT 325 - Sp 2015 18

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T. Simon MKT 325 - Sp 2015 19

Characters:

Characters Special type of brand symbol - takes on human or real-life characteristics “Inherent Drama” Introduced through advertising - can play a central role in ad campaigns, package designs and building brand equity T. Simon MKT 325 - Sp 2015 20 Benefits Attention getting, break through clutter – build brand awareness Help communicate key benefit Enhance likeability, interest level Transferable across product categories Cautions Dominate other brand elements, dampen brand awareness Must update so that image and personality remain relevant

Characters:

Characters T. Simon MKT 325 - Sp 2015 21

Slogans:

Slogans Short phrases that communicate descriptive or persuasive information about the brand Function as useful “hooks” or “handles” to help consumers grasp the meaning of a brand Indispensable means of summarizing and translating the brand equity/meaning and intent of a marketing program T. Simon MKT 325 - Sp 2015 22 “Nationwide is on your side.” “You’re in good hands with Allstate.” “Like a good neighbor, State Farm is there.”

Jingles :

Jingles Musical messages written around the brand Mnemonic - Have catchy musical hooks and choruses that become permanently registered in the minds of listeners Enhance brand awareness by repeating the brand name in clever and amusing ways T. Simon MKT 325 - Sp 2015 23

Jingles :

Jingles Musical messages written around the brand Mnemonic - Have catchy musical hooks and choruses that become permanently registered in the minds of listeners Enhance brand awareness by repeating the brand name in clever and amusing ways T. Simon MKT 325 - Sp 2015 24

Packaging :

Packaging Activity of designing and producing containers or wrappers From the perspective of both the firm and consumers, packaging must: Identify the brand Convey descriptive and persuasive information Facilitate product transportation and protection Assist in at-home storage Aid product consumption T. Simon MKT 325 - Sp 2015 25

To Sum up...:

To Sum up... Entire set of brand elements makes up the brand identity Cohesiveness of the brand identity depends on the extent to which the brand elements are consistent – integrated, synergistic Each brand element plays a different role in building brand equity, so marketers should “mix and match” to maximize brand equity T. Simon MKT 325 - Sp 2015 26

Figure 4.8 - Critique of Brand Element Options:

Figure 4.8 - Critique of Brand Element Options T. Simon MKT 325 - Sp 2015 27 Source: Strategic Brand Management , Kevin Keller

A word on partners:

A word on partners It takes a village to build a Brand Marketers rely on many partners, internally and externally, to accomplish brand goals Research Product/R&D Packaging – design, production Promotion – advertising, digital, PR, etc. Often external parties Legal T. Simon MKT 325 - Sp 2015 28

Strategic Brief:

Strategic Brief Key tool and mechanism for guiding partner efforts Boils strategy down to its essence and provides necessary insight and information to inform, inspire and guide partners Serves as a filter and basis for evaluating tactics and executional ideas Insures consistency, synergy among and across brand elements T. Simon MKT 325 - Sp 2015 29

Brief Components:

Brief Components Background, situation Objectives/goals Target audience – define, key insights Positioning Brand Benefit and Support Point(s) Brand Character, Personality Existing Brand Elements that may be required Key content, messaging points Other tactical requirements as appropriate T. Simon MKT 325 - Sp 2015 30

Stay Tuned for Part 2:

Stay Tuned for Part 2 T. Simon MKT 325 - Sp 2015 31

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