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Brand Power

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So attribute-focused communication is one way we could go... 9. But, what is a brand? ... that can transcend the attributes and characteristics of products, ... – PowerPoint PPT presentation

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Title: Brand Power


1
Brand Power
  • An exploration

2
A Working Example to Explain Brand Power Big Box
Electronics
  • The Big Box Electronics category is characterized
    by
  • Huge Dollar volume
  • Small margins
  • Domination by 2 National Chains

3
Big Box Electronics
  • Both have
  • Big stores (U.S.)
  • Semi-self service
  • Huge numbers of SKUs in virtually every home
    electronics category
  • Major brands
  • Lots of promotions and Sales
  • Often located proximate to each other

4
The Consumer Electronics Store Dilemma
Industry MythWhichever One Is A Right Hand Turn
is where people go
  • How does the consumer choose?

Scott
CES A
CES B
Raj
5
Strategic Questions
  • Is the myth true?

Can anything be done to drive a wedge?
What should the CESs say about themselves?
6
A Question
  • Should they talk about Products?

Or should they talk about Brands?
7
What is a product?
A product is an arrangement of physical
characteristics intended for some purpose
8
Can we look at Consumer Electronics Stores as
Products?
Do they have physical characteristics? Are they
arranged for a purpose?
Yes So attribute-focused communication is one
way we could go
9
But, what is a brand?
10
Can we look at Consumer Electronics Stores as
Brands?
Are they representations of a product, service,
organization or association that are perceived to
be distinct?
11
Can we look at Consumer Electronics Stores as
Brands?
The Myth says Maybe, maybe not But this is
what we want to know!
12
Why are brands so important?
Brands have power that can transcend the
attributes and characteristics of products,
because they are Perceptions of those tangible
elements.
13
Why are brands so important?
Brands Can Have Power Coca-Cola Is it more
than cola beans, corn sweetener, prunes,
spices and food coloring mixed together? Is
it more than a beverage? Coors Light Is it more
than hops, malted barley, yeast and
water? Starbucks Is it more than
coffee? USA Is it more than 50 states
united? How about Chanel, BMW, McDonalds, Exxon?
14
Why are brands so important?
  • All of these are all brands with power
  • They have the ability to capture attention and
    often loyalty far above others
  • Think of what that means to your business
  • Everyday on the shelf
  • When introducing new products
  • In attracting talent
  • Or surviving PR crises

15
Why are brands so important?
Brand Power has different levels
16
Brand Power Hierarchy
Relate the brand to a feeling, attitude, event,
perception of myself that is important to me and
who I am
Know that how it has meaning
Know that how its different
Brand Power
Heard of it and know what it is
Heard of it, but dont know anything about it
No awareness of the brand
17
Brand Power Hierarchy
Relate the brand to a feeling, attitude, event,
perception of myself that is important to me and
who I am
Know that how it has meaning
Know that how its different
Heard of it and know what it is
Brand Initiation (where brands become brands)
Heard of it, but dont know anything about it
No awareness of the brand
18
Brand Power Hierarchy
Relate the brand to a feeling, attitude, event,
perception of myself that is important to me and
who I am
Know that / how it has meaning
Brand with Differentiation
Know that / how its different
Heard of it and know what it is
Heard of it, but dont know anything about it
No awareness of the brand
19
Brand Power Hierarchy
Relate the brand to a feeling, attitude, event,
perception of myself that is important to me and
who I am
Brand with relevance
Know that / how it has meaning
Know that / how its different
Heard of it and know what it is
Heard of it, but dont know anything about it
No awareness of the brand
20
Brand Power Hierarchy
Brand with Equity
Relate the brand to a feeling, attitude, event,
perception of myself that is important to me and
who I am
Know that / how it has meaning
Know that / how its different
Heard of it and know what it is
Heard of it, but dont know anything about it
No awareness of the brand
21
Brand Power Hierarchy
Relate the brand to a feeling, attitude, event,
perception of myself that is important to me and
who I am
To Build Brand Power, We need to know where we
are And determine how to get to higher levels
Know that / how it has meaning
Know that / how its different
Heard of it and know what it is
Heard of it, but dont know anything about it
No awareness of the brand
22
Achieving Brand Power
  • Brand Relevance

Brand Equity
  • Brand Differentiation




Brand Power Brand Power is a function of
Relevance, Differentiaton and EquityBPf(D,R,BE)
23
Understanding Brands
  • Brand Differentiation
  • Characteristics and perceptions that are
    perceived to be different vs. alternatives

Differentiation buys trial
24
Understanding Brands
Differentiation
1 Box 1 Rock 1 Clever care and feeding
owners manual 1 million units in a couple
months, but gone in a month more,
because DIFFERENT, BUT, NO RELEVANCE
25
Understanding Brands
  • Brand Relevance
  • Degree to which the brand is applicable to, or
    makes a connection with, peoples lifestyles,
    issues / needs / desires

Relevance gains repeat consideration
26
Understanding Brands
Relevance
Combine Side Doors Low Step in Height Folding /
removable seats With Families and Dogs a
revolutionary new vehicular class that has held
almost a 10 share of all light vehicles since
1990
27
Understanding Brands
2 Types of Relevance
  • Personal Relevance compatibility with
  • Preferences / personal tastes
  • Beliefs and values
  • Perceptions of peer acceptance and social impact
    on the individual
  • Peer Relevance
  • This can accelerate / decelerate / stall and
    reverse progression on the brand power scale
  • If enough peers start moving in a direction,
    the brand will go with it

28
Understanding Brands
Brand Equity Derived from experience-based
associations with the brand, and the emotional
connections that grow from them
Brand Equity provides insulation
29
Understanding Brands
Brand Equity Derived from experience-based
associations with the brand, and the emotional
connections that grow from them
  • Sturgis Bike Rally
  • Annual 10 day event
  • Unadvertised
  • Draws 550,000 bikers
  • 3/4 are over 40
  • Tax revenue alone -- over 1mm

30
Brand Equity -- Breaking it down
  • Brand Linkings
  • The Roots of Equity
  • Brand Linkings are Associations with the brand
    created through experiences -- events, people,
    places

31
How -- Breaking it down -- brand equity (cont)
Equity Connections Associations become Ideas,
Memories and Feelings that represent how the
brand can / does connect to their lives
With repetition, rehearsal and peer
reinforcement, the linkings between the consumer
and the brand become equity connections
Repetition
Rehearsal
Peer Reinforcement
  • Brand Linkings
  • The Roots of Equity
  • Associations with the brand created through
    experiences -- events, people, places

32
Brand Equity -- breaking it down

?
Equity Connections
Brand Equity
Brand Equity is the meaning, significance or
purpose that is derived from the Connections made
with the brand through associations with
experiences -- events, people, places. Yes,
equities are built on characteristics, but it is
the meaning of those characteristics, achieved
through experience that has power BE ?(event,
people, place associations with the brand the
connection people make between those association
and their lives value of that connection to
them)
33
Achieving Brand Power
  • Brand Relevance

Brand Equity
  • Brand Differentiation




Brand Power Brand Power is a function of
Relevance, Differentiation and EquityBPf(D,R,BE)
34
Brand Power Hierarchy
Brand with Equity
Relate the brand to a feeling, attitude, event,
percpetion of myself that is important to me and
who I am
Brand with Relevance
Know that / how it has meaning
Know that / how its different
Brand with Differentiation
Heard of it and know what it is
Brand
Heard of it, but dont know anything about it
No awareness of the brand
35
  • Follow-up assignment
  • Where do you think the Consumer Electronic Stores
    are on the brand power index?
  • What brand issues do they need to address?
  • How would you position each brand?

36
  • Follow-up assignment
  • Hint -- what is positioning?

Brand Positioning Expressing the relationship
between the consumer and the brand in a unique
(versus competition) and compelling
way Positioning is built on the differentiation,
meaning and equity experiences associated with
the brand
37
  • Follow-up assignment
  • Hint 2 -- applying brand power as a diagnostic
    tool

38
  • Bonus Question -- (much harder)
  • What are the volume, and profit implications in
    the short and long run of aligning with a
    positionings you have recommended?
  • Upsides?
  • Risks?
  • How might you go about assessing this?
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