branding dissertations
TRANSCRIPT
BRANDS MOST OFTEN CITED AS LEADING OR
GREAT
EVALUATING BRAND PERFORMANCE
• Some argue that financial models are unreliable• Some would contend that marketing measures
alone are unsuited to the realities of today’s management needs
• Others say no single methodology is credible enough to encompass all the dimensions and complexities of a full evaluation of a brand
• Increase in measurement approaches that attempt to bridge the traditionally separate considerations of finance and marketing needed to provide a holistic view of brand performance
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WHAT GREAT BRANDS SHARE
THREE PRINCIPAL ATTRIBUTES
1. A Compelling Idea: Behind every brand is a compelling idea which captures customers’ attention and loyalty by filling an unsatisfied need
2. A resolute core purpose and supporting values: Need to remain the same. From 7 series to the Mini, the BMW brand stands for “the ultimate driving machine.” Target market for each BMW differs but core purpose remains the same.
3. A centralized organizational principle: The brand position, purpose and values are employed as management levers to guide decision-making.
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WHAT GREAT BRANDS
SHARE(CONTD.)TWO CHARACTERISTICS
1. Most Leading brands are American: Does this mean that although a leading brand can originate from everywhere, the United States is better at the practice of branding than other countries? In effect, the U.S has an established and natural incubator for business innovation rooted in the core purpose and values of the country. American Firms: Nurture the brand, grow its value and evaluate its performance like any other holding
2. Most leading brands are commodities: Coca-Cola, Pepsi and Starbucks products and services are easily substituted. Brands are about choice. Make sure that they innovate and satisfy the need of people. If needs are not met, people will choose something else
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BRAND
ENVIRONMENTS
BEHAVIOR
PRODUCT
SERVICE
MEDIA
CORPORATE
LITERATURE
SIGNAGE
ADVERTISING
CLIENT DECISIO
N
VERIFICATIONS
PROMISES
FIVE DISTINCTIVE TRAITS OF GREAT
BRANDS1. CONSISTENING IN DELIVERING ON THEIR PROMISE• Leading brands communicate their promise to the market,
encouraging customers to purchase the produce or service. • Brands must make sure that they deliver the promise with
their power.• Nike has consistently delivered on its promise with healthy
doses of innovation along the way.
2. SUPERIOR PRODUCTS AND PROCESSES• To attract customers and maintain their loyalty, brand leaders
must offer them products or services that are superior to others, thereby reducing the risk that the customer will not be satisfied.
• Nokia buying up suppliers to have control of distribution
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FIVE DISTINCTIVE TRAITS OF GREAT BRANDS(CONT)
3. DISTINCE POSITIONING AND CUSTOMER EXPERIENCE• Brand leaders capture what is special about their offering, convey
it to the desired audience and allow customers to experience it.• Ikea furniture showroom. Turnover tripled between 1994 and
2002, from 4 billion to 12 billion – 20 billion 2014
4. ALIGNMENT OF INTERNAL AND EXTERNAL COMMITMENT TO THE BRAND• Marketing and brand managers focus their strategies on the
customer. In general, employees are last to know about the latest marketing campaign
• Internal values need to be aligned with brand values to shape the organization’s culture and embed the core purpose
• Whole company should be well aware about the brand
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FIVE DISTINCTIVE TRAITS OF GREAT BRANDS(CONT)
5. AN ABILITY TO STAY RELEVANT• Leading brands constantly maintain their relevance to a
targeted set of customers, ensuring ownership of clear points of difference compared with the competition
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WHAT MAKES BRANDS LEADERS LOSE THEIR
WAY• Taking the brand for granted which happens when brand
owners treat the asset as a cash cow• This causes erosion of the original brand idea• Loosing track of customers
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GREAT BRANDS: SUMMARY OF
ATTRIBUTES, OBERSVATION AND
PRACTICES
ATTRIBUTES OBSERVATIONS FIVE GREAT PRACTICES OF GREAT BRANDS
• Built from a great idea
• Holds true to core purpose and values
• Employs brand as the central organizing principle
• Largely American• Predominantly
commodity business and industries
• Represent clear choices
• Continually deliver on the brand promise
• Possess superior products, services and technologies
• Own a distinct position and deliver a unique customer experience
• Focus on “internal” branding
• Improve and innovate
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BRAND BUILDING SKILLS
Anyone with responsibility for building a brand needs to be creative, intelligent and innovative, nurturing and disciplined. They must master three primary tasks:1. Employ the brand itself: The communication and the
actions of the individual must align with the core purpose and values reflecting the brand. They should always act appropriately
2. Understand the underlying sources of brand value and protect and build on them
3. Continually search out what makes the brand unique: Customer preferences, competitive frameworks and market conditions are incredibly dynamic. Brand managers should be open to change.
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