managing brands in challenging times
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Managing Brands in Challenging Times. Dr. Royce Yuen Visiting Associate Professor, HKU Chairman, Ogilvy Hong Kong Chairman, HK4As. Value of Brand is widely recognized. In mid-2002, the stock market value of Coca-Cola was US$ 136 billion Yet the book value was only US$ 10.5 billion - PowerPoint PPT PresentationTRANSCRIPT
Managing Brands in Challenging Times
Dr. Royce YuenVisiting Associate Professor, HKU
Chairman, Ogilvy Hong Kong
Chairman, HK4As
Value of Brand is widely recognized
In mid-2002, the stock market value of Coca-Cola was US$ 136 billion
Yet the book value was only US$ 10.5 billion Estimated value of Coca-Cola brand name was
US$ 70 billion, well over half of its intangible value
Yet building brand
has never been more challenging !
Two Major Factors
Two Major Factors
"Ordinary people can spread good and bad information about brands faster than marketers."
Ray Johnson
This is particularly true in the Internet Age
Words of mouth becomes words of mouse
Kryptonite
The “unbreakable bonds”
The hit that affects the world
“A brand is more than a logo. A brand is
a promise.” - Mike Holland
The trust is gone !
As a result …
Consumers are becoming more skeptical
How can brands win back the heart of consumers ?
Hint Number One
Under promise, over deliver
Hint Number Two Do what matters to consumers, not you Focus on consumer insight
Case - Acuvue
Hint Number Three
Manage all the stakeholders
Authorizers Business partners
External influencers
Customers
GovernmentRegulators
Board of DirectorsProfessional
societiesShareholders
Demographics Market segments
GeographyHigh value
Mass
EmployeesUnions
SuppliersDistributors
Service providers
Activist groupsJournalists
ExpertsAnalysts
Community groups
The Stakeholder Universe
Hint Number Four
Take prompt and decisive action
Hint Number Five
Respect the local culture
And be sensitive about “how you say it”
And be sensitive about “how you say it”
Hint Number Six
Be sensitive to political implications
The Marco Polo Bridge (luguoqiao) Incident marked the beginning of the Sino-Japanese War (1937 – 1945)
What is acceptable in one country may not be acceptable in another country
What may be humourous can be seen as an offense
Hint Number Seven
It’s not only what you do, it’s also what you don’t do
Hint Number Eight
Don’t try to please everybody You will end up pleasing nobody
The World Car that drops out from the world
Be relevant
Cowboy is COOL !
Hint Number Nine
Be relevant
Well … may be !
Be relevant
Hint Number Ten
Social value of brand Are brands good for business, bad for
society ?
Being socially responsible is different from being a passive donor
Being socially responsible is different from being a passive donor
CSR has to tie in with the role that the brand plays in society
First coverage - out 8th Jan - Closer Magazine (wkly)
Thank You