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What is the importance of Brands to Firms? 1.Identify prod simplify handling/tracing 2.Legal protection - trademarks, copywrite 3.Can be bought/sold 4.Source of financial returns 5.Signal quality level 6.Endows prods w unique associations 7.Source of competitive advantage 8.Investment
What is the importance of Brands to Consumers? 1.Identify of prod maker 2.Assign responsibility to prod maker 3.Risk reducer 4.Reduce search costs 5.Promise, bond, pact with product maker 6.Signal of quality
What are the 3 models used for identifying and developing Brand plans? 1.Brand positioning model 2.Brand resonance model 3.Brand value chain
Define Brand positioning. 1.Develop Brand plan 2.Implement program 3.Measure/interpret performance 4.Grow/sustain Brand equity
Give an example of failed Brand extension. 1.Current Brand knowledge 2.Desired Brand knowledge 3.Communication - how does communication option help B get from current to desired knowledge with customers?
What is the process for positioning of a Brand? 1.Define the competitive frame of reference 2.Establish PODs and POPs 3.Straddle positions 4.Develop positioning
Give examples of negatively correlated attributes and benefits. 1.Low price v high quality 2.Taste v healthy 4.Strong v refined 5.Ubiquitous v exclusive
What is the desired flow of the CBBE? 1.Deep, broad awareness 2.Establish points-of-difference 3.Positive, accessible reactions 4.Intense, active loyalty
What is a brand mantra used for? In a 3-word brand mantra give an example and explain the 3 types of words. Used for internal branding 1.Emotional modifier (word 1) (e.g. Fun) 2.Descriptive modifier (word 2) (e.g. Family) 3.Brand function (word 3) (e.g. Entertainment)
In the CBBE model what are the elements of Brand awareness (salience)? 1.Depth of awareness – ease recognition/recall, strength/clarity awareness in prod category 2.Breadth of awareness – number diff contexts (eg domestic, international, business, holiday travel)
In the CBBE model what are the elements of Brand performance? 1.Primary characteristics, additional features 2.Product reliability, durability, serviceability 3.Service effectiveness, efficiency, empathy 4.Style/design 5.Price
In the CBBE model what are the elements of Brand imagery? 1.User profiles - demographic, psychographic (actual or aspirational) 2.Purchase and usage situations 3.Personality/values 4.History, heritage, experiences
What are the main types of Brand personality? 1.Sincerity - down-to-earth, wholesome, cheerful 2.Excitement - daring, spirited, imaginative, up-to-date 3.Competence - reliable, intelligent, successful 4.Sophistication - upper class, charming 5.Ruggedness - outdoorsy, tough
In the CBBE model what are the Judgement dimensions? 1.Brand Quality – value, satisfaction 2.Brand Credibility – expertise, trustworthiness, likability 3.Brand Consideration – relevance to customer 4.Brand superiority – differentiation (eg uniqueness)
In the CBBE model what are the Feelings dimensions? 1.Warmth - immediate 2.Fun – immediate 3.Excitement - immediate 4.Security – private/enduring 5.Social approval - private/enduring 6.Self-respect – private/enduring (hardest to measure)
In the CBBE model what are the Resonance dimensions? 1.Loyalty – frequency/amount repeat purchases 2.Attachment – love, pride 3.Sense community – kinship, affiliation 4.Active engagement – seek info, join club, visiting online
What are the important aspects to consider for building a Brand? 1.Customers own brands 2.Don’t take shortcuts with brands 3.Brands should have a duality – head (performance, judgement) and heart (imagery, feelings) 4.Brands should have richness 5.Brands should have a long-term focus
What are the value stages of the Brand Value Chain? 1.Marketing Program investment 2.Customer mindset – 5 As 3.Market performance – profit, market share 4.Shareholder value – stock price, market cap, P/E ratio
Describe the program quality multiplier in the Brand Value Chain model. DRIVE 1.Distinctiveness 2.Relevance 3.Integrated 4.Value 5.Excellence
Describe the customer mindset in the Brand Value Chain model. 5 As 1.Awareness 2.Associations 3.Attitudes 4.Attachment 5.Activity
Describe the marketplace conditions multiplier in the Brand Value Chain model. 3 Cs 1.Competitive reactions 2.Channel support 3.Customer size/profile
Describe the investor sentiment multiplier in the Brand Value Chain model. 1.Market dynamics 2.Growth potential 3.Risk profile 4.Brand contribution
What are the criteria for choosing Brand elements? 1.Memorable – easily recognised/recalled 2.Meaningful – credible, suggestive, rich imagery 3.Adaptable – flexible, updatable 4.Likable – fun, interesting, attractive 5.Protectable – legal, competition 6.Transferrable – prod categories, countries/cult
What are some common mistakes in developing advertising? 1.Positioning not communicated 2.Wrong assumption consumer knowledge 3.Failure break through clutter 4.Distracting, overpowering creative ads 5.Underbranded ads 6.Changing campaigns too often 7.Substitute ad frequency for ad quality
What are the main marketing communication options? 1.Advertising - TV, radio, print, direct response, place 2.Promotion – consumer (B2C), trade (B2B) 3.On-line marketing – websites, on-line ads & videos, social media 4.Events and experiences 5.Mobile marketing – smartphone ads/apps, geotargeting
What are the sources for leveraging secondary associations? 1.People – endorsers, employees 2.Things – events, causes, third-party endorsements (eg magazines) 3.Places – country of origin, channels (eg distribution channels, store image) 4.Other Brands (co-branding) – alliances, ingredients, company, extensions
What secondary associations can be transferred? 1.Awareness 2.Attributes 3.Benefits 4.Images 5.Thoughts 6.Feelings 7.Attitudes 8.Experiences
What is Q-Score? Celebrity, Brand, company, TV show, other can have Q-score. People asked to rate the following: A One of my favourites; B Very good; C Good; D Fair; E Poor; F Never heard of. Q-Score = (A x 100)/(A+B+C+D+E)
What are the two components of a Brand audit? 1.Brand Inventory - marketing mix for all Bs in company 2.Brand Exploratory - consumer research
Give an example of Brand hierarchy levels. 1.Corporate Brand eg Samsung 2.Family Brand eg Galaxy 3.Individual Brand eg S series 4.Modifier: Item or Model eg S4
Describe important factors for designing Brand hierarchy. 1.Decide # levels – few levels better, logical relationship all B elements obvious/transparent 2.Decide awareness & types assocs at each level – relevance, differentiation 3.Decide how link B at diff levels, prominence 4.Decide how link B across prods
What does the Brand-Product Matrix look like? 1.Brands(rows) – line & category extensions 2.Product-lines (columns)
Describe some important aspects for managing Brand portfolios. 1.Multi-branding - several Bs in a category targeting diff segments 2.Max coverage markets/segments & min overlap in market/segment 3.Portfolio too big – increase profits by dropping Bs 4.Portfolio too small – increase profits by adding B
What are the Brand Architecture Guidelines? 1.Adopt strong customer focus 2.Create broad, robust Brand platforms 3.Ovoid overbranding (too many Brands) 4.Selectively employ Sub-Brands 5.Selectively extend Brands
What are the types of Brand Extensions? 1.Line extension – current B used to enter new market segment in existing prod class (eg new varieties, flavours, sizes) 2.Category extension – current B used to enter new prod class (eg Harvard University Press)
What are the advantages of Brand Extensions? 1.Reduce risk perceived by customers 2.Increase chance grain distribution 3.Increase efficiency promotion 4.Avoid cost develop new B 5.Reinforce/enhance parent B image
What are the disadvantages of Brand Extensions? 1.Can cannibalize sales parent B 2.Can hurt image parent B (if unsuccessful, wrong image) 3.Forego chance develop new B 4.Can confuse/frustrate customers 5.Can dilute B meaning
Describe the types of qualitative measurement of Brand equity. 1.Free associations - open questions (respondents may not reveal true feelings, attitudes, thoughts) 2.Projective techniques – bubble exercises 3.Comparison tasks – comparing Bs to people, cars, occupations, other Bs 4.Ethnographic/experiential techniq
What are the key elements of a Brand charter? 1.Formalises company view of Brand equity 2.Provide guidelines 3.Updated annually
Describe some major marketing challenges. 1.Increased customer cynicism – 80% customers believe companies lie/don’t deliver on advertising 2.Unhappy customers can use social networking 3.Burning all channels – too much advertising, more media choice
What is the Net Promoter Score (NPS)? 1.Detractors – 0-6 (irritated, neglected, unsatisfied, frustrated, disappointed, unhappy, hurried, confused) 2.Passives – 7, 8 3.Promoters – 9, 10 (safe, valued, trusted, pleased, delighted, impressed) 4.NPS = % Promoters - % Detractors (Top score 50-7
How to improve Net Promoter Score (NPS). 1.Identify top drivers 2.Develop solutions - neutralise detractors 3.Make improvements
What are the common elements of NPS Loyalty Leaders? 1.Engaged staff & executive 2.Pay staff more 3.Spend less on promotions (advertising) 4.Continuously act on customer feedback 5.Short strategic conversions 6.Customer experience, engagement and retention 7.Enjoy long-term growth
What are the important ingredients in the Total Engagement Model? 1.Vision 2.Mission 3.Values 4.Customer Value Proposition (CVP) 5.Customer Experience
Describe the employee categories in the Total Engagement Model. 1.Weak links – don’t understand/not committed to company strategy 2.Bystanders – understand/not committed to company strategy 3.Loose cannons - committed/don’t understand company strategy 4.Champions - understand/committed to company strategy
Give an example of a successful Brand extension. Virgin – Virgin Records - line extensions other record labels, category extensions airlines (Virgin Australia, Virgin Atlantic Airways), Financial institutions (Virgin Money Australia), others (Virgin Health Bank, Virgin Wines Australia)
What are the important requirements for choosing a celebrity for endorsements? 1.Well known to improve awareness/image of B 2.Rich set of potentially useful associations, judgements, feelings 3.Credible, trustworthy, likable, attractive 4.Transferrable associations relevant to B
What are the disadvantages of celebrity endorsement? 1.Overexposure celebs to too many Bs 2.Bad behaviour, fail expectations 3.Expensive 4.Endorsement for money - add sig/unnecessary cost 5.Celebs - not follow marketing direction of B (use competitor Bs) 6.B can become over-reliant on celeb endorsement
Describe some of the history of McDonalds. 1.US, 1950s, fast food chain 2.Market penetration/development strategies - worldwide (menus suit tastes) 3.World’s largest fast food co. 4.Target for environmentalists (packaging), nutritionists (obesity problem); sales growth/market share fell
Describe the change in marketing strategy by McDonalds. 1.2003, focus change - quality, service & rest experience, not cheap, convenient 2.Halt rapid expansion, focus prod development w improved food (healthy options), service (24h), atmosp (plants, internet, TV, playground) 3.Diversification - open McCafe
What was McDonalds' old mission statement and what is McDonalds' new mission statement? Mission changed from “being the world’s best quick-serve restaurant” to “being our customer’ favourite place & way to eat”
What are the segments targeted by McDonalds Australia? 1.Demographic - kids, families, tourists, students 2.Psychographic - convenience, lifestyle 3.Behavioural - occasions eg birthday parties for kids
What are the PODs and POPs for McDonalds Australia? 1.PODs - top of mind awareness, great report with kids (toys w food, playgrounds, activities), healthy food options, McCafe’ often incorporated, open 24 h. 2.POPs - fast service, cheap prices, still supply hamburgers, wireless internet, TVs, value meals
What is the current positioning of McDonalds Australia? Quality, service & restaurant experience
What are some Brand elements of McDonalds? 1.Character - Ronald McDonald 2.Symbol and logo - golden arches 3.Slogan - “I’m lovin’ it”
Describe the positive aspects for McDonalds using Shane Warne as a Brand ambassador. 1.Well known - raise awareness 2.Main image transferred - sports hero, active, healthy, fits w McDonalds’ positioning 3.Warne is strong role model and is idolised by many kids, which is a main segment targeted by McDonalds
Describe potential problems with McDonalds using Shane Warne as a Brand ambassador. 1.Could backfire - common attitude that McDonalds still selling mostly junk food, not good to associate w sport, fitness, health, particularly targeting kids 2.Could backfire - if Warne displays bad behaviour, which he has done in the past eg infidelity
What are the PODs and POPs for Apple? 1.PODs - technological innovation, user-friendly design, exceptional Brand loyalty (cult-like) 2.POPs - price, many of the functions (eg phone calls, SMS, internet)
What is the current positioning of Apple? Social, fun activities (eg music, camera), innovation, user-friendly devices
Describe some Brand associations for Apple. 1.User-friendly 2.Innovative 3.Cool 4.Creative 5.Fun
Describe a basic Brand-product matrix for Toyota Australia. 1.Yaris, Corolla, Camry, Prius – passenger 2.Kluger, Landcruiser, RAV4 – 4WD/AWD 3.HiAce, HiLux – commercial
What is a Brand? A Brand is a "name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate to differentiate them from those of competition."
How is Brand performance measured and interpreted? 1.Brand audits 2.Brand tracking studies 3.Brand value chain used for financial measurement 3.These fit into the Brand equity management system
What are the new Branding challenges? 1.Increase competition 2.Increased number of Brands 3.Decreased effectiveness of traditional marketing tools 4.Increased costs 5.Greater financial accountability for marketing in general
What is the definition of customer-based Brand equity? The differential effect that brand knowledge has on customer response to the marketing of that brand.
What is the definition of positioning? Act of designing the company’s offer and image so that it occupies a distinct and valued place in the target customers’ minds
What are the POD criteria? Strong, favourable and unique brand associations Consumer desirability criteria 1.Relevant 2.Distinct 3.Believable Deliverability criteria 4.Feasible 5.Communicable 6.Sustainable
What are the POP criteria? 1.Necessary 2.Competition neutralising
What are the multipliers of the Brand Value Chain? 1.Program multiplier - DRIVE 2.Customer multiplier - 3 Cs 3.Market multiplier - market dynamics, risk profile
Where does the CBBE model fit into the Brand Value Chain model? Customer mindset
Describe the ladder for the CBBE model. 1.Identity = Who are you? 2.Meaning = What are you? 3.Response = What about you? 4.Relationships = What about you and me?
What are the 2 main types of secondary associations? 1.Response-type associations - judgements (especially credibility), feelings 2.Meaning-type associations - product/service performance/imagery
What are the advantages of using secondary associations? 1.Leverage equity you don't have 2.Expand Brand meaning 3.Borrow needed expertise 4.Reduce cost of product introduction
Define Brand equity management system. A brand equity measurement system is a set of research procedures designed to provide timely, accurate and actionable information for marketers for tactical and strategic decisions.
What is the simple test for marketing communication effectiveness? Determine how the communication option helps the Brand get from current to desired knowledge with customers.
Created by: craig.muldoon