Strategic Brand Management Assignment
Content
A.
Assignment (40 marks)
This assignment is an individual basis assignment. Please submit a type-written report for the following questions. i.
Identify and elaborate the steps in the strategic brand management process.(5 marks) The process of strategic brand management basically involves 4 steps: 1. Identifying and establishing brand positioning. Brand Positioning is defined as the act of designing the company's offer and image so that it occupies a distinct and valued place in the target consumer's mind. Points of difference: convinces consumers about the advantages and differences over the competitors 2.Planning and Implementation of Brand Marketing Programs Choosing Brand Elements: Different brand elements here are logos, images, packaging, symbols, slogans, etc. Since different elements have different advantages, marketers prefer to use different subsets and combinations of these elements. Leveraging Secondary Associations: Brands may be linked to certain source factors such as countries, characters, sporting or cultural events,etc. In essence, the marketer is borrowing or leveraging some other associations for the brand to create some associations of the brand's own and them to improve it's brand equity. 3.Measuring and Interpreting Brand Performance Brand Audit: Is assessment of the source of equity of the brand and to suggest ways to improve and leverage it. 4. Growing and Sustaining Brand Equity: Managing Brand Equity over Geographic boundaries, Market segments and Cultures: Marketers need to take into account international factors, different types of consumers and the specific knowledge about the experience and behaviors of the new geographies or market segments when expanding the brand overseas or into new market segments.
ii.
Discuss the different types of brand elements with appropriate examples. (5 marks) Brand Names URLs Logos Symbols Characters Spokespeople Slogans Jingles Packages Types of brand elements can be identify and differentiate via the offerings by companies to customers and other parties. - a brand is more than a name (or “mark”). - logos and symbols (Nike’s swoosh and McDonalds’ golden arches), - packaging (Coke’s contour bottle and Kodak’s yellow and black film box), - slogans (BMW’s“Ultimate Driving Machine” and VISA’s “It’s Everywhere You Want to be”) Brand elements, sometimes called brand identities, are those trademark able devices that serve to identify and differentiate the brand. The main brand elements are brand names, URLs, logos, symbols, characters, spokespeople, slogans, jingles, packages, and signage.
iii.
List and explain SIX (6) general criteria for choosing brand elements with appropriate examples. (12marks) Six (6) general criteria for choosing brand elements are : 1. Memorable – easily recognized & easily recalled 2. Meaningful – descriptive & persuasive 3. Likable – fun & interesting, aesthetics, rich visual & verbal imagery 4. Transferrable – within & across product categories, & across geographical boundaries & cultures 5. Adaptable – flexible & updateable 6. Protectable – legally – competitively
iv.
Evaluate the SIX (6) choice criteria in developing an integrated marketing communication program. (12 marks) The six criteria in developing an integrated marketing communication program are as follows : (1) Coverage. Coverage relates to the proportion of the audience that is reached by each communication option employed, as well as how much overlap exists among communication options. In other words, to what extent do different communication options reach the designated target market and the same or different consumers making up that market? (2) Contribution. Contribution relates to the inherent ability of a marketing communication to create the desired response and communication effects from consumers in the absence of exposure to any other communication option. In other words, contribution relates to the ‘main effects’ of a marketing communication option in terms of how it affects consumers’ processing of a communication and the resulting outcomes (e.g. building awareness, enhancing image, eliciting responses, inducing sales). (3) Commonality. Commonality relates to the extent to which common associations are reinforced across communication options, that is, the extent to which information conveyed by different communication options shares meaning. (4) Complementarity. Complementarity relates to the extent to which different associations and linkages are emphasized across communication options. The ideal marketing communication program would ensure that the communication options chosen are mutually compensatory and reinforcing to create desired consumer knowledge structures. (5) Versatility. Versatility refers to the extent that a marketing communication option is robust and effective for different groups of consumers. A marketing communication option is deemed versatile when it achieves its desired effect regardless of consumers’ past communication history, level of brand or product knowledge or processing goals and so on. (6) Cost. Finally, evaluations of marketing communications on all of the preceding criteria must be weighed against their cost to arrive at the most effective and efficient communication program.
v.
Describe how a corporate brand is different from a product brand.
(6 marks)
Corporate branding involves marketing various products or services under the name of a company. Product branding, on the other hand, is a marketing strategy wherein a business promotes and markets an individual product without the company name being front and center in the advertising campaigns or even on the product labeling. Management strategies for choosing which avenue to pursue or a combination of the two in branding vary by business and each approach produces results. Product Branding A well-known example of a major U.S. company that utilizes product branding is Procter & Gamble with corporate headquarters in Cincinnati, Ohio. They make beauty, personal care and household products, and many of the company's popular brands each have a dedicated website. Each product carries individualized symbols or logos and some have advertising slogans associated with the product alone, not mentioning the corporation or the P&G brand except in labeling. Corporate Branding In the Yale School of Management's magazine "Qn," John Hayes, Chief Marketing Officer of American Express was asked how to market a corporate brand, in this case, the global marketing of the American Express brand. Hayes explained in the interview that for his company, the brand means basically the same thing worldwide. Although the corporation does offer financial products such as gift cards, the major offerings of American Express are service-oriented. According to Hayes, his company's global branding evokes a sense of trust and an expectation of high quality among consumers, a marketing concept attached to the corporate brand.
Assignment (40 marks)
This assignment is an individual basis assignment. Please submit a type-written report for the following questions. i.
Identify and elaborate the steps in the strategic brand management process.(5 marks) The process of strategic brand management basically involves 4 steps: 1. Identifying and establishing brand positioning. Brand Positioning is defined as the act of designing the company's offer and image so that it occupies a distinct and valued place in the target consumer's mind. Points of difference: convinces consumers about the advantages and differences over the competitors 2.Planning and Implementation of Brand Marketing Programs Choosing Brand Elements: Different brand elements here are logos, images, packaging, symbols, slogans, etc. Since different elements have different advantages, marketers prefer to use different subsets and combinations of these elements. Leveraging Secondary Associations: Brands may be linked to certain source factors such as countries, characters, sporting or cultural events,etc. In essence, the marketer is borrowing or leveraging some other associations for the brand to create some associations of the brand's own and them to improve it's brand equity. 3.Measuring and Interpreting Brand Performance Brand Audit: Is assessment of the source of equity of the brand and to suggest ways to improve and leverage it. 4. Growing and Sustaining Brand Equity: Managing Brand Equity over Geographic boundaries, Market segments and Cultures: Marketers need to take into account international factors, different types of consumers and the specific knowledge about the experience and behaviors of the new geographies or market segments when expanding the brand overseas or into new market segments.
ii.
Discuss the different types of brand elements with appropriate examples. (5 marks) Brand Names URLs Logos Symbols Characters Spokespeople Slogans Jingles Packages Types of brand elements can be identify and differentiate via the offerings by companies to customers and other parties. - a brand is more than a name (or “mark”). - logos and symbols (Nike’s swoosh and McDonalds’ golden arches), - packaging (Coke’s contour bottle and Kodak’s yellow and black film box), - slogans (BMW’s“Ultimate Driving Machine” and VISA’s “It’s Everywhere You Want to be”) Brand elements, sometimes called brand identities, are those trademark able devices that serve to identify and differentiate the brand. The main brand elements are brand names, URLs, logos, symbols, characters, spokespeople, slogans, jingles, packages, and signage.
iii.
List and explain SIX (6) general criteria for choosing brand elements with appropriate examples. (12marks) Six (6) general criteria for choosing brand elements are : 1. Memorable – easily recognized & easily recalled 2. Meaningful – descriptive & persuasive 3. Likable – fun & interesting, aesthetics, rich visual & verbal imagery 4. Transferrable – within & across product categories, & across geographical boundaries & cultures 5. Adaptable – flexible & updateable 6. Protectable – legally – competitively
iv.
Evaluate the SIX (6) choice criteria in developing an integrated marketing communication program. (12 marks) The six criteria in developing an integrated marketing communication program are as follows : (1) Coverage. Coverage relates to the proportion of the audience that is reached by each communication option employed, as well as how much overlap exists among communication options. In other words, to what extent do different communication options reach the designated target market and the same or different consumers making up that market? (2) Contribution. Contribution relates to the inherent ability of a marketing communication to create the desired response and communication effects from consumers in the absence of exposure to any other communication option. In other words, contribution relates to the ‘main effects’ of a marketing communication option in terms of how it affects consumers’ processing of a communication and the resulting outcomes (e.g. building awareness, enhancing image, eliciting responses, inducing sales). (3) Commonality. Commonality relates to the extent to which common associations are reinforced across communication options, that is, the extent to which information conveyed by different communication options shares meaning. (4) Complementarity. Complementarity relates to the extent to which different associations and linkages are emphasized across communication options. The ideal marketing communication program would ensure that the communication options chosen are mutually compensatory and reinforcing to create desired consumer knowledge structures. (5) Versatility. Versatility refers to the extent that a marketing communication option is robust and effective for different groups of consumers. A marketing communication option is deemed versatile when it achieves its desired effect regardless of consumers’ past communication history, level of brand or product knowledge or processing goals and so on. (6) Cost. Finally, evaluations of marketing communications on all of the preceding criteria must be weighed against their cost to arrive at the most effective and efficient communication program.
v.
Describe how a corporate brand is different from a product brand.
(6 marks)
Corporate branding involves marketing various products or services under the name of a company. Product branding, on the other hand, is a marketing strategy wherein a business promotes and markets an individual product without the company name being front and center in the advertising campaigns or even on the product labeling. Management strategies for choosing which avenue to pursue or a combination of the two in branding vary by business and each approach produces results. Product Branding A well-known example of a major U.S. company that utilizes product branding is Procter & Gamble with corporate headquarters in Cincinnati, Ohio. They make beauty, personal care and household products, and many of the company's popular brands each have a dedicated website. Each product carries individualized symbols or logos and some have advertising slogans associated with the product alone, not mentioning the corporation or the P&G brand except in labeling. Corporate Branding In the Yale School of Management's magazine "Qn," John Hayes, Chief Marketing Officer of American Express was asked how to market a corporate brand, in this case, the global marketing of the American Express brand. Hayes explained in the interview that for his company, the brand means basically the same thing worldwide. Although the corporation does offer financial products such as gift cards, the major offerings of American Express are service-oriented. According to Hayes, his company's global branding evokes a sense of trust and an expectation of high quality among consumers, a marketing concept attached to the corporate brand.
