branding arild aspelund iØt, ntnu. senter for entreprenørskap – truls erikson norsk...
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Branding
Arild Aspelund
IØT, NTNU
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Senter for entreprenørskap – Truls Erikson
Norsk Kundebarometer
• Top 5 – Satisfaction– Skandiabanken– Flytoget– Hurtigruten– Toyota– BMW
• Bottom 5 – Satisfaction– Troms Kraft Marked– Finansavisen– Lidl– Notar– SASBraathens
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Senter for entreprenørskap – Truls Erikson
Norsk Kundebarometer
• Top 5 – Loyalty– Meny– Skandiabanken– Flytoget– Coop Marked– Alliance
• Bottom 5 – Loyalty– Skeidar– DnbNOR Eiendom– Postbanken Eiendom– Finansavisen– Notar
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Senter for entreprenørskap – Truls Erikson
RepTrak Norge 2006
Kilde: Apeland Informasjon og Reputation Institute
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Senter for entreprenørskap – Truls Erikson
Outline
• What is a Brand– What does it consist of and what can it do for you
• What is Brand Equity and how can you build it?
• What are the key decision points in setting a branding strategy
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Senter for entreprenørskap – Truls Erikson
A Brand
A name, term, sign, symbolor design, or a combination of them,
intended to identify the goodsor services of one seller or group
of sellers and to differentiatethem from those of competitors.
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Senter for entreprenørskap – Truls Erikson
Some Key Elements of a Strong Brand
• Consistency between
– Customer’s values and perceived benefits
– Firm’s core competencies
– Customer’s brand associations
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Senter for entreprenørskap – Truls Erikson
What is Branding?
Endowing products and serviceswith the power of a brand.
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Senter for entreprenørskap – Truls Erikson
What Can a Good Brand Do for You?
Identify the makerIdentify the maker
Simplify product handlingSimplify product handling
Organize accountingOrganize accounting
Offer legal protectionOffer legal protection
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Senter for entreprenørskap – Truls Erikson
What Can a Good Brand Do for You?
Signify qualitySignify quality
Create barriers to entryCreate barriers to entry
Serve as a competitive advantage
Serve as a competitive advantage
Secure price premiumSecure price premium
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Senter for entreprenørskap – Truls Erikson
What is Brand Equity
The differential effect that brandknowledge has on consumer
response to the marketing of that brand.
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Senter for entreprenørskap – Truls Erikson
Brand Elements
ElementsSlogans
Brand
names URLs
Logos
SymbolsCharacters
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Senter for entreprenørskap – Truls Erikson
Brand Knowledge
Knowledge
Thoughts
Experiences
Beliefs Images
Feelings
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Senter for entreprenørskap – Truls Erikson
Brand Associations
Strong
Unique
Favorable
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Senter for entreprenørskap – Truls Erikson
What do you know?
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Senter for entreprenørskap – Truls Erikson
Managing Brand Equity
Brand ReinforcementBrand Reinforcement
Brand RevitalizationBrand Revitalization
Brand CrisesBrand Crises
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Senter for entreprenørskap – Truls Erikson
Creating a Brand Strategy
Develop new brand elements
Develop new brand elements
Apply existing brand elements
Apply existing brand elements
Use a combination of old and new
Use a combination of old and new
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Senter for entreprenørskap – Truls Erikson
Branding: Offensive Strategy- Increasing Conversion Rates
Awareness Familiarity AmbassadorConsideration Purchase Loyalty
95 80 40 20 12 5
84 50 50 60 41
15 11
73
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Senter for entreprenørskap – Truls Erikson
Branding: Defensive Strategy- The Brand Fortress
Brand Association
Perceived Core Competencies of
Supplier
Perceived Benefits of Supplier
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Senter for entreprenørskap – Truls Erikson
Summary and continuation
• Summary– What are Brands and Branding and what can they do for you?– Elements of a brand and how you can put these things together to
a branding strategy
• Continuation– Pricing