...Tuck School of Business Dartmouth College Fall Quarter B 2010 Professor Kevin Lane Keller STRATEGIC BRAND MANAGEMENT Course Times/Places Class Meetings: Office Hours: Mondays and Tuesdays 8:30 – 10:00 & 10:15 – 11:45 Borelli classroom By appointment: Tuesdays, 12:30 – 2:00 Room: Woodbury 315 (Phone: 646-0393) E-mail: kevin.keller@dartmouth.edu Alison Pearson Room: Tuck 205I (Phone: 646-2515) E-mail: alison.pearson@dartmouth.edu Academic Coordinator: Required Text Kevin Lane Keller, Strategic Brand Management, 3rd edition, Prentice-Hall, 2008. Course Objectives Some of a firm’s most valuable assets are the brands that it has invested in and developed over time. Although manufacturing processes can often be duplicated, strongly held beliefs and attitudes established in consumers’ minds cannot. This mini-elective provides students with insights into how profitable brand strategies can be created. It addresses three important questions. How do you build brand equity? How can brand equity be measured? How do you capitalize on brand equity to expand your business? Its basic objectives are to (1) provide an understanding of the important issues in planning and evaluating brand strategies, and (2) provide the appropriate concepts and techniques to improve the long-term profitability of brand strategies. The course consists of lectures, exercises, and case discussions. The course content has relevance to students pursuing a variety of different career goals in virtually any...
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...Chapter 2 Customer-Based Brand Equity Overview This chapter defines the concept that is the focus of the book. Customer-based brand equity (CBBE) is the differential effect that brand knowledge has on consumer response to the marketing of that brand. Brand knowledge is a function of awareness, which relates to consumers’ ability to recognize or recall the brand, and image, which consists of consumers’ perceptions of and associations for the brand. Building awareness requires repeatedly exposing consumers to the brand as well as linking the brand in consumer memory to its product category and to purchase, usage and consumption situations. Creating a positive brand image requires establishing strong, favorable and unique associations for the brand. The chapter outlines the important contribution of brand knowledge to brand equity. Brand knowledge is composed of brand awareness, which is itself a function of recognition and recall, and brand image, which reflects the associations consumers hold for the brand in memory. Brand awareness is important because 1) it is a necessary condition for inclusion in the set of brands being considered for purchase, 2) in low-involvement decision settings it can be a sufficient condition for choice, and 3) it influences the nature and strength of associations that comprise the brand image. Awareness can be heightened by increasing consumer exposure to the brand and by linking the brand to product category, consumption and usage...
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...Designing and Implementing Brand Architecture Strategies DEVELOPING A BRAND ARCHITECTURE STRATEGY Definition: Brand Strategy/Brand Architecture tells marketers which brand name, logos, symbols and so forth to apply to new and existing products. Brand Architecture: It describes both brand breath or boundaries and its depth or complexity The Role of Brand Architecture: * To clarify brand awareness: Improve consumer understanding and communicate similarity and differences between individual products and services. * To improve brand image: Maximize transfer of equity between the brand and individual products and services to improve trial and repeat purchase. 3 Steps of Developing a brand architecture strategy: Step 1: Defining Brand Potential Define the brand potential by considering three important characteristics (1) the brand vision, (2) brand boundaries, (3) brand positioning. Articulating Brand vision: * Brand vision = Management view of brands long-term potential * Influenced by: * how well the firm is able to recognize the current and passive future brand equity. * Many firms have latent brand equity * that is never realized because the firms are unable or unwilling to consider all that the brand could and should become. * A good brand vision has a foot in present and future * Brand vision needs to be aspirational * so has room to grow and improve * Fundamentally brand visions relates the higher order...
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...A brand orientation typology for SMEs: a case research approach Ho Yin Wong and Bill Merrilees Department of Marketing, Griffith Business School, Griffith University, Gold Coast, Australia Purpose – This research paper aims to discuss the role of branding strategy in small and medium size enterprises (SMEs). Design/methodology/approach – The literature on traditional brand management and strategic branding are first reviewed. Four critical constructs are identified, namely brand distinctiveness, brand orientation, brand-marketing performance and brand barriers. The literature, in combination with (eight) case research interviews, has been synthesised to develop a new theory of SME branding. Findings – The paper reveals that the theory identifies the ladder of SME brand orientation, moving from minimal brand orientation, to embryonic brand orientation to integrated brand orientation. Further, it is suggested that most SMEs will be on the lower steps of the ladder. A model of the brand strategy process has been formulated, specifying links between brand barriers, brand distinctiveness, brand orientation and brand-marketing performance. The study puts forward some propositions about the pre-conditions to move higher up the ladder, particularly to an integrated brand orientation. Research limitations/implications – The major limitation of this research is that it is based on eight case studies. It is suggested that a quantitative survey be carried out to enhance the generalisability...
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...Explain the Branding and Brand Management for companies marketing success. A brand can be defined as a seller’s promise to provide consistently a unique set of characteristics, advantages, and services to the buyers/consumers. It is a name, term, sign, symbol or a combination of all these planned to differentiate the goods/services of one seller or group of sellers from those of competitors. Some examples of well known brands are Mc Donald’s’, Mercedes-Benz, Sony, Coca Cola, etc. A brand connects the four crucial elements of an enterprise customers, employees, management and shareholders. Brand is nothing but an assortment of memories in customers mind. Brand represents values, ideas and even personality. It is a set of functional, emotional and rational associations and benefits which have occupied target market’s mind. Associations are nothing but the images and symbols associated with the brand or brand benefits, such as, The Nike Swoosh, The Nokia sound, etc. A strong brand is invaluable as the battle for customers intensifies day by day. It's important to spend time investing in researching, defining, and building your brand. After all your brands is the source of a promise to your consumer. It's a foundational piece in your marketing communication and one you do not want to be without. Brands with strong equity have many competitive advantages. * It provides high consumer awareness. For example, it is said “Vodka”, “Absolute” brand comes immediately in...
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... P. (2002). Advanced Brand Management. Culture Insight Strategy, P1-78. • In the early days of mass production, most of marketers failed because they didn’t know what consumers needed and then produce products that they thought the public needed. As time passed, marketers soon learned that they should care more about what customers had in mind; therefore, the whole world has now become brand-conscious. Pg 12 • If we want achieve spectacular financial results from brand, we should created, developed, and managed it well. There is difference between brand value and brand equity in terminology; however, it appears that there is a connection between them. On the other hand, in order to latest profitable in market, marketer should strengthen the relationship of the brand with consumer, and then drive the business forward and build brand value. Pg 14 • Brand management should start with strategy which gives focus and direction to brand management, and provides the platform that enables brand managers to gain consistency in all their brand-related activities. Pg 18 • Consumer insight is the gateway to understanding people’s rational and emotional behaviors, and there is no doubt that brand strategies that are built on emotion. The emotional brand relationship process is: Awareness->Information->Respect->Trust->Loyalty. Probably one of the most successful ways to build and emotional brand strategy is to create a personality for brand, develop an attitude toward...
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...Managing the brand Even though the there has been a significant level of marketplace change within the last thirty years, the principles that involve in management have not changed. But the capacities to understand and implement the principles of companies have significantly improved. The role of the top management It is a core task of the top management to generate and maintain a culture and business atmosphere where improved understanding of the consumer is the driving force for the team entrusted with management of the brand. Managing brands for value creation According to the research which was carried out by Booz Allen Hamilton and Wolff Olins, they have found that there are three categories of companies. These companies were categorized in a way that how each company has identified the importance of brands in their success. The three types are briefly described below. * Brand-guided companies: These companies have identified that brand is so important for the success of their business and therefore to have a reasonable management of brand. They have established a common understanding of what they stands for and therefore have assigned clear brand ownership at top management level [1]. * Emerging brand companies: These companies have not yet fully recognized the importance of brands in success. They are developing a common understanding of their brands. Therefore we can expect them to be a brand-guided company over the next five years. * Brand-agnostic...
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...portfolio………………..….6 1.4 Pervasion of automobiles with digital technology..............................................................6 1.5 Increased pressure for innovation and flexibility in development and manufacturing…...6 1.6 Strategic levers……………………….................................................................................7 1.6.1 Brand management...........................................................................................................7 1.6.2 Customer relationship management……………..............................................................7 1.6.3 Core competency management…………………….........................................................7 1.6.4 Software management.......................................................................................................7 1.6.5 Quality management.........................................................................................................7 1.6.6 Product development management...................................................................................7 1.6.7 Expansion management....................................................................................................8 2. Brand Management Process In...
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...Brand Management (MKT624) VU Lesson 1 UNDERSTANDING BRANDS – INTRODUCTION Brand management as one of the marketing functions has been around for as long as we have known professional marketing. But, it has been a part of the traditional marketing approach in which many functions of today’s brand management were performed in a spread out fashion by the marketing manager and a combination of his team members like the sales manager, the advertising and communications manager, and the marketing administration manager to name a few. The terminology of brand management was not used. Brand management, in its present integrated form, has come into limelight and focus over the last 20 years. The functional execution has undergone transformation in terms of its description as a substantive job under one head. This implies that the overall functions of brand management are full of substance and therefore are described specifically under the head brand management and not as disparate parts of the overall marketing functions. In other words, brand management has not lost its primary roots that are well-entrenched in marketing; it only has acquired explicitly defined dimensions within which the function operates. To further elucidate the point, there have been functional adjustments within the overall marketing functions only to bring into clear and sharp focus the specific functions and job of brand management. Brand management now presents itself as a distinct part of an integrated...
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...CHAPTER 2 Customer-Based Brand Equity Customer-Based Brand Equity - Building a Strong Brand - Creating Customer Value - CHAPTER 3 Brand Positioning Identifying and Establishing Brand Positioning - Positioning Guidelines Defining and Establishing Brand Mantras - Brand Audits CHAPTER 4 Choosing Brand Elements to Build Brand Equity Criteria for Choosing Brand Elements - Options and Tactics for Brand Elements - CHAPTER 5 Designing Marketing Programs to Build Brand Equity New Perspectives on Marketing – Product Strategy – Pricing Strategy - Channel Strategy - CHAPTER 6 Integrating Marketing Communications to Build Brand Equity The New Media Environment - Overview of Marketing Communication Options - Developing Integrated Marketing Communication Programs CHAPTER 7 Leveraging Secondary Brand Associations to Build Brand Equity Conceptualising the Leveraging Process - Country of Origin and other Geographic Areas - Co-Branding - Licensing - Celebrity Endorsement – CHAPTER 8 Developing a Brand Equity Measurement and Management System The Brand Value Chain - Designing Brand Tracking Studies - Establishing a Brand Equity Management System – CHAPTER 9 Measuring Sources of Brand Equity: Capturing Customer Mindset Qualitative Research Techniques - Quantitative Research Techniques - Comprehensive Models for Customer-Based Brand Equity - CHAPTER10 Measuring Outcomes of Brand Equity: Capturing Market Performance...
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...BE440 BRAND MANAGEMENT ASSESSMENT COURSEWORK Brand extension (or stretching) is a strategic concept which relates to managing the brand portfolio. In addition, it can be understood as a process by which the practices of branding extend to social contexts beyond the traditional business domain. Critically analyse the purpose, implementation, advantages and disadvantages of brand extension. Illustrate your argument with at least two practical examples of brand extension. By Mr. Olan Kaewwichit Brand extension (or stretching) is a strategic concept which relates to managing the brand portfolio. In addition, it can be understood as a process by which the practices of branding extend to social contexts beyond the traditional business domain. Critically analyse the purpose, implementation, advantages and disadvantages of brand extension. Illustrate your argument with at least two practical examples of brand extension. Companies must carefully manage their brands. First, the brand’s positioning must be continuously communicated to consumers. Major brand marketers often spend huge amounts on advertising to create brand awareness and to build preference and loyalty. For examples, General Motors spends nearly $820 million annually to promote its Chevrolet brands. McDonald’s spends more than $660 million. (Top 100 megabrands by total measured advertising spending, 16 July 2001, p.s2.) Such advertising campaigns can help to create name recognition, brand knowledge and...
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... Product and Brand Management Submitted To Submitted By Prof. Neeraj Dubey Virendra Prasad Tamta (1219) Date: 13 Feb 2013 Centre for Management Education Vaikunth Mehta national Institute of Cooperative Management University Road, Pune- 411 007 ------------------------------------------------- Brand equity Brand equity is a phrase used in the marketing industry which describes the value of having a well-known brand name, based on the idea that the owner of a well-known brand name can generate more money from products with that brand name than from products with a less well known name, as consumers believe that a product with a well-known name is better than products with less well-known names. Some marketing researchers have concluded that brands are one of the most valuable assets a company has,as brand equity is one of the factors which can increase the financial value of a brand to the brand owner, although not the only one. Elements that can be included in the valuation of brand equity include (but not limited to): changing market share, profit margins, consumer recognition of logos and other visual elements, brand language associations made by consumers, consumers' perceptions of quality and other relevant brand values. Consumers' knowledge about a brand also governs how manufacturers...
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...BRAND MANAGEMENT Student: Drobnjak Anja, K-5050 Professor: Prof. dr David Jones Warsaw, 22.01.2014. Contents Introduction 4 Branding 5 The Laws of Branding 6 Branding and its components 8 Brand implementation 9 Brand awareness 9 Brand recognition 10 Brand equity 10 Brand elements 11 Brand Bubble Trouble 12 Strategic brand management 13 Adidas - a brand that identifies with its performance 15 Coca-Cola as Number One 17 Disney world 18 Conclusion 18 Abstract One of the most valuable intangible assets of a firm is its brand, and building a strong brand is both an art and a science. It requires careful planning, a deep long-term commitment and creatively designed and executed marketing and management. This paper will try to show that brand management is a communication function which includes analysis and planning on how that brand is positioned in the market, which target public the brand is targeted at and maintaining a desired reputation of the brand. Attention will also be directed on the tangible elements of brand management such as a product itself; look, price, the packaging, etc. It will include some components of brand management, laws of brending, strategic brand management and its importance, and also examples of well known companies, in order to show nowadays rising role of brands and made some conclusions. Key Words: brand management, brand, strategic brand management, brand...
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...Sally Predue Unit Assignment Unit IV Advanced Marketing MBA 5501 Discuss what Brand elements would be most useful for differentiating your company’s brand from competing brands? According to Kolter and Keller (2012) brand elements are components such as logos, slogans, design, symbol and name that are a trademark which identifies the company’s product.(p.- 250) This type of branding will differentiate Arimount’s Everlasting 24 deodorant brand from the other competitive deodorant brands. Arimount has been in the hygiene business for over twenty years and their brand, logo, and name, is currently established; so they will continue to use them. According to Differentiating: Alternative ways to differentiate. (2008) the design of a company’s product can make the difference in getting the sale.(Para.-5). Arimount‘s design team has created an packing for each individual gender. This special packing is an attempt to attract women, men and teenagers. So, the packaging and design need to reflect targeted consumers. The women and teenage girl’s line will be compact packing. This factor helps to provide easy storage for their purse. Also, the packing design will be composed of soft girly colors, such as purple, pink, light greens and soft baby blue. Secondly, the men and teenage boys packing line will be composed of, red, black, brown, dark forest green. In essence, packaging is a vital element that is needed to help appeal to consumers and peek their interest. The consumer...
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...its Sustainability1 Cost Advantage1 Differentiation Advantage2 Sustainability3 Future Scenarios for the next ten years4 Strategic Options facing each Scenario5 Industry overview For thousands of years, beer has been sold in similar form and taste all over the world. However, it has remained a highly local product due to barriers such as local tastes, short shelf life, high transportation costs, taxes on imported alcoholic products and difficult-to-penetrate local distribution networks. In 1999, the top-four brewers were only accountable for 17% of global beer sales. Beer was, at that time, seen as one of the least consolidated, and least profitable, industries in FMCG. But nowadays, because of greater scale, the effects of reduced competition and the growing profitability of emerging markets, the top-four brewers control over 55% of global sales. In spite of this positive change, beer is still a local business, with local operations and brands. This consolidation can bring large benefits, such as operational leverage, efficiency in advertising expenses, increased reputation and distribution networks’ power. Although slowly, brand concentration is starting to occur both in developed and developing countries. The future prospects for beer brands tend towards industry and local brand consolidation, indicating the need to develop global beers brands. Competitive Advantage And Its Sustainability Heineken and Carlsberg benefit from competitive advantage through both cost...
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