strategic brand management ppt
DESCRIPTION
Strategic brand management ppt bec bagalkot mba 2009TRANSCRIPT
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Strategic Brand Management
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Evaluating the Mayo Clinic 600k + in- and out-patients/yr Founded in 1800 by Dr William Woral Mayo & two sons. Pioneered “group practice” = Two heads are better than
one Two “extension” facilities in 1980s
(Scottsdale,Jacksonville) Mayo Graduate School of Medicine – one of largest
graduate education centers
Brand Value Chain & Testing
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Evaluating the Mayo Clinic Worldwide leader in patient care, research and
education Renowned for world class specialty care Earned a reputation as world class specialty care Most medical staff participate in research 1950 Nobel Prize winners, Drs Kendall and
Hench discovered Cortisone
Brand Value Chain & Testing
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Use The Brand Value Chain to determine Measurement Tactics and Resulting Marketing Strategies
Value Stages
Marketing Program Investment
Customer Mindset
Market Performance
Shareholder Value
-Product-Communication-Trade-Employee-Other
-Awareness-Associations-Attitudes-Attachment-Activity
-Price Premiums
-Price Elasticities
-Market Share
-Expansion Success
-Cost Structures
-Profitability
-Stock Price
-P/E Ratio
-Market Capitalization
Brand Value Chain & Testing
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Evaluating the Mayo Clinic ‘96 Brand Equity Study Awareness 84.3%, 90+% among 45+ Specialty ranking Top ranked at 15.4% (next at
5.3%) “..go anywhere in US for serious condition which required highly specialized care..”
Strongest Brand Associations 1) Scientific Research, 2) Cancer Treatment, 3) Cardiac Care
Brand Value Chain & Testing
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Evaluating the Mayo Clinic ‘96 Brand Equity Study Associations (Thoughts & Feelings)
Integrity (longevity, heritage, wisdom of staff, trust in institution), Leadership (modernity, premium quality, international prestige) Professionalism (staff held high standards, were intellectually
sophisticated and efficient) Commitment to health & healing (reputation for medical
discoveries, preventative medicine, tangible results) Exclusivity
No Negative Associations
Brand Value Chain & Testing
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Evaluating the Mayo Clinic ‘96 Brand Equity Study Product Perception ISSUE
Outside Midwest perception of “only for rich/famous” Known for Tertiary Care (Not primary family care) Thus, “not like me”
Brand Value Chain & Testing
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Use The Brand Value Chain to determine Measurement Tactics and Resulting Marketing Strategies
Value Stages
Marketing Program Investment
Customer Mindset
Market Performance
Shareholder Value
MultipliersProgramQuality
MarketplaceConditions
InvestorSentiment
-Clarity
-Relevance
-Distinctiveness
-Consistency
-Competitive reactions
-Channel Support
-Customer size & Profile
-Market Dynamics
-Growth Panel
-Risk Profile
-Brand Contributions
Brand Value Chain & Testing
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Use The Brand Value Chain to determine Measurement Tactics and Resulting Marketing Strategies
Value Stages
Marketing Program Investment
Customer Mindset
Market Performance
Shareholder Value
-Product-Communication-Trade-Employee-Other
-Awareness-Associations-Attitudes-Attachment-Activity
-Price Premiums
-Price Elasticities
-Market Share
-Expansion Success
-Cost Structures
-Profitability
-Stock Price
-P/E Ratio
-Market Capitalization
Brand Value Chain & Testing
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Evaluating the Mayo Clinic ‘96 Brand Equity Study Communication
Word of Mouth is influential in selecting specialty care 1/3 know at least one Mayo patient
Brand Value Chain & Testing
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Evaluating the Mayo Clinic ‘96 Brand Equity Study CONCLUSIONS Mayo’s Brand Equity is Powerful and Precious As perceived by patients and consumers, Mayo’s Essence:
Excellence The best medical, personal and technical expertise in patient care and education
Care Compassionate patient care and education resulting in physical, mental and emotional well-being
Cooperation Care and education in cooperative and inclusive relationships among colleagues and with the patient, the patient, the patient’s family and consumers
Enlightenment (Wisdom) Commitment to pioneering knowledge, insight, and truth through research and education
Brand Value Chain & Testing
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Evaluating the Mayo Clinic ‘96 Brand Equity Study CONCLUSIONS Mayo’s Brand Equity is Powerful and Precious “By living out these standards fully and
consistently, the Mayo clinic had engendered in patients and consumers a sense of confidence, safety, hope and serenity”
Brand Value Chain & Testing
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Strategies
Tactics
Actions
Brand Development
Consumer Driven Marketing Cycle
•Brand saturation
•High Cost
Map the Marketspace
Select Most Valuable Customers
Choose a Winning Positioning
Create the Tactical PlanBuild
Operational Capabilities
Define Performance Measures
Execute the Tactical Plan
Assess Performance
Succeed And Improve
Mark Kerback, Kerback & Company
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Evaluating the Mayo Clinic ‘96 Brand Equity Study CONCLUSIONS A Satisfied national patient base is VITAL to maintaining
preference Vital to developing guidelines that protected the brand 1999 created “Office of Brand Management”
Responsible for the protection & enhancement of the Mayo Clinic brand (+ monitoring)
Developing Brand Management Guidelines & a Positioning statement
Implementing a Branding System (include education) Build awareness of Brand Management within the organization Research extension opportunities & risks
Brand Value Chain & Testing
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Evaluating the Mayo Clinic ‘96 Brand Equity Study CONCLUSIONS Example of Brand Management Guidelines:
Each new/existing Mayo Clinic branded product, service or business relationship meets 4 criteria: Using name must be owned by Mayo or under full control Use to solely assure success of service/product not
appropriate Not to be used in a manner that trivalizes the name/institution Not shared or sold
Brand Value Chain & Testing
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Get to the Consumer Insight/Core Value by Laddering up to it Keep asking “WHY”, “WHY”, “WHY”
Is Mayo Resonating with Consumers Central Beliefs/Core Values?
What Consumer Insight might they center their equity on?
Brand Value Chain & Testing
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Strategic Brand Management
FINAL GROUP CASE STUDY PROJECT
Due November 15th
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New Brand Development Project (due WK10) Work in Four Groups of 2 and select from product categories provided Develop a new brand marketing plan in an existing category (Use
framework attached) Develop the key insight, concept & positioning Ensure the following are ALSO included:
Your VISION Launch Rationale Business analysis (Competitive and market analysis, SWOT etc) Target audience, Key Competitive insights and Core Values (use CBBE
Pyramid) Projected share and financials (supported, P&L examples to be provided) Proposed Marketing Objectives, Strategies and Tactics
Strategic Brand Management
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RECOMMENDED TIMETABLE Select groups and categories Oct18th (data up Oct 20th); assign group
tasks; conduct research searches Oct 25th: Out line marketing plan to share with the group; Nov 1st: Having reviewed available data; hypothesize financials, consumer
insights, positioning and concepts (can turn in roughs to prof for feedback) Nov 8th: Draft marketing plan deck and begin conversion to power point
presentation Nov 15th: Turn in completed plan and conduct presentations.FINISHED PRODUCT: One 10-15 Minute presentation (docked a grade if over 15 minutes!!) One marketing plan document (main text to be NO MORE than 5 pages..
Appendix with charts, graphs, data and research encouraged) Visuals encouraged.
Strategic Brand Management
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Your Marketing Plan
Purpose Define your core objectives, strategies and tactics in
concise summary Management selling tool for brand investment Document and sell or acknowledge results Provide solid, focused direction to corporation and brand
support Define Brand evaluation objectives Live Working Document
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Measuring Brand Equity
Objective: To guarantee assets/liabilities are nurtured
and managed (loyalty, awareness, perceived quality, propriety brand assets)
Develop Focused Master Plan Create Long term Strategic Orientation
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Brand Marketing Process
ANNUAL STRATEGIESHow will the objectives be achieved?
Ann
ual P
lan
& E
xecu
tion
Three Year and ANNUAL ObjectivesWhat do I want to Accomplish
Objectives Should be S.M.A.R.T
Establish Positioning
Concept
Marketing Plan Execution
Functional Objectives &Strategies
And Tactical Plan
Physical ProductPackage
Pricing
Advertising
Media
PublicRelations
Consumer &Retailer Promo
Market Research
Ana
lysi
s &
Lon
g T
erm
S
trat
egy
Measure Brand Equity
BusinessAnalysis
Market & Competitive
Trends
Consumer Insights
SWOTs
MarketingMix
Financial Health
Strategic Implications & Strategy DevelopmentCore Competencies, External Opportunities
Brand Vision
Brand Strategy
Strategic Role
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Brand Marketing ProcessA
naly
sis
& L
ong
Ter
m S
trat
egy
Measure Brand Equity
BusinessAnalysis
Market & Competitive
Trends
Consumer Insights
SWOTs
MarketingMix
Financial Health
Strategic Implications & Strategy DevelopmentCore Competencies, External Opportunities
Brand Vision
Brand Strategy
Strategic Role
Establish Positioning
ConceptAna
lysi
s &
Lon
g T
erm
Str
ateg
y
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ANNUAL STRATEGIESHow will the objectives be achieved?
Brand Marketing ProcessA
nnua
l Pla
n &
Exe
cuti
on
Three Year and ANNUAL ObjectivesWhat do I want to Accomplish
Objectives Should be S.M.A.R.T
Establish Positioning
Concept
Marketing Plan Execution
Functional Objectives &Strategies
And Tactical Plan
Physical ProductPackage
Pricing
Advertising
Media
PublicRelations
Consumer &Retailer Promo
Market Research
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Brand Marketing Process
ANNUAL STRATEGIESHow will the objectives be achieved?
Ann
ual P
lan
& E
xecu
tion
Three Year and ANNUAL ObjectivesWhat do I want to Accomplish
Objectives Should be S.M.A.R.T
Establish Positioning
Concept
Marketing Plan Execution
Functional Objectives &Strategies
And Tactical Plan
Physical ProductPackage
Pricing
Advertising
Media
PublicRelations
Consumer &Retailer Promo
Market Research
Ana
lysi
s &
Lon
g T
erm
S
trat
egy
Measure Brand Equity
BusinessAnalysis
Market & Competitive
Trends
Consumer Insights
SWOTs
MarketingMix
Financial Health
Strategic Implications & Strategy DevelopmentCore Competencies, External Opportunities
Brand Vision
Brand Strategy
Strategic Role
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Measuring Brand Equity
Market Trends Checklist
Volume & Share•Industry definition & served market•Category Size & growth rates•Category Segmentation, trends, importance to category•Share of market by brand & by segment
Market Conditions•Household Pentration•Seasonality•Regionality (CDI/BDI)
Retail Conditions•Channels of Distribution•Product Sourcing/availability•Importance of the category to the retailer•Retailer focus on private label•Retailer influence over category marketing activity
Consumer Conditions•Substitute products
•Changes in tastes/attitudes/needs
Government
Conditions
•Regulations & Reqs.•Legislative issues
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Assessing Competitive Trends
Measuring Brand Equity
Competitor Identification
• Key direct competitors• Competitive Scope:
• Regional/National/Global
Competitive Strategy• Overall mission/priorities• Target Audience• Brand Turf/Positioning• Class of Trade (COT) importance
Competitor Focus•Importance in portfolio•Level of product activity•Level of marketing focus•Financial resources
Competitive Financials•P&L analysis
•Cost Structure•Spending
•Profitability
Advantage
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Brand Value Chain & Testing
Use The Brand Value Chain to determine Measurement Tactics and Resulting Marketing Strategies
Value Stages
Shareholder Value
Marketing Program Investment
Customer Mindset
Market Performance
-Product-Communication-Trade-Employee-Other
-Awareness-Associations-Attitudes-Attachment-Activity
-Price Premiums
-Price Elasticities
-Market Share
-Expansion Success
-Cost Structures
-Profitability
-Stock Price
-P/E Ratio
-Market Capitalization
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Use The Brand Value Chain to determine Measurement Tactics and Resulting Marketing Strategies
Value Stages
Marketing Program Investment
Customer Mindset
Market Performance
Shareholder Value
MultipliersProgramQuality
MarketplaceConditions
InvestorSentiment
-Clarity
-Relevance
-Distinctiveness
-Consistency
-Competitive reactions
-Channel Support
-Customer size & Profile
-Market Dynamics
-Growth Panel
-Risk Profile
-Brand Contributions
Brand Value Chain & Testing
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Measuring Brand Equity
SWOT Purpose: to guide thinking and help distill the key issues and
opportunities facing the Brand AND the category Can be done in competitive analysis
STRENGTH
Inherent source of competitive advantage within the Brand (of genuine relevance to the consumer)
WEAKNESS
Inherent cause of competitive disadvantage within the Brand (of genuine importance to consumer)
INTERNAL to the brand
Caused by the inherent nature of the Brand or our management of it
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Measuring Brand Equity
SWOT Purpose: to guide thinking and help distill the key issues and
opportunities facing the Brand AND the category Can be done in competitive analysis
OPPORTUNITY
Unsatisfied or poorly satisfied need in the marketplace which our company can perform profitability
THREATPotential problem from external source which could undermine our Brand’s competitive position if not addressed.
EXTERNAL to the brand
Markets, competitors, retail, social trends etc
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Consumer-Based Brand Equity Pyramid
Brand Salience
Consumer-BrandResonance
ConsumerJudgments
ConsumerFeelings
BrandPerformance
BrandImagery
4 Intense, Active Loyalty
1 Deep Broad Brand Awareness
2 Points of Difference
3 Positive Accessible Reactions
Con
sum
er A
ccep
tanc
e C
y cle
THIS is Where the
InsightLives
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Consumer-Based Brand Equity Pyramid
Salience
Resonance
JudgmentsFeelings
Performance Imagery
Loyalty
Attachment
Community
Engagement
Quality
Credibility
Consideration
Superiority
Warmth, Fun
Excitement,
Security, Social
Approval,
Self-Respect
4 Brand Relationships (WHAT About You AND ME?)
1 Brand Identity (WHO Are You?)
2 Brand Meaning (WHAT Are You?)
3 Brand Response (WHAT About You?)
User Profiles
Purchase and Usage
Situations
Personality & Values
History, Heritage, & Experiences
Brand Characteristics
& Secondary Features
Product Reliability,
Durability & Serviceability
Service Effectiveness, Efficiency,
& Empathy
Style and Design; Price
Category Identification
Needs Satisfied
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Insight to Positioning
State the thought you wish to implant in your target’s mind:
TO (core target audience), (Brand Name), IS THE (frame of reference) THAT (owned benefit) BECAUSE (support or reason to believe)
Power Positioning LINKS to
Consumer Insight
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Introducing (Brand Name)Succinct insight driven benefits (benefit statement)
Consumer Insight statement (AHA not fact). Introducing New Brand. What it does
(relevant core benefit to consumer). Reason to believe (how/why it does what it does).
Reprise of positioning in closing tag.
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Your Marketing Plan
Fundamental Statement of Purpose What do I want to do (grow X% to $$) Objectives must be SMART
Specific Measurable Appropriate Realistic Timebound
Long Term and Short term
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Brand Development
Consumer Driven Marketing Cycle
•Brand saturation
•High Cost
Strategies: Fact Based choices on who, how and why
Consumer Insight: Singularly focused need, desire or want
Tactics: Activities/capabilities –what, where and when
Actions: Execution, feedback, assessment, and improvement
Strategies
Tactics
Actions
Mark Kerback, Kerback & Company
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YOUR MARKETING PLAN
What is your Big Inspiring Vision? How will your consumer insight translate across
ALL elements of your plan? Positioning Brand Essence Strategies and Tactics
WHO is your target REALLY (pscyh, demo) In your SWOT: What is going on competitively and
in the Market Place?… WHY should I invest in your launch????????