Brand Management Study Notes

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Brand Management Midterm
Study Guide
January 23, 2013
* Inter Brand’s Valuation Approach
* The increasing recognition of the value of intangibles came with the continuous increase in the gap between companies’ book values and their stock market valuations, as well as sharp increases in premiums above the stock market value that were paid in mergers and acquisitions in the late 1980s. * The brand is a special intangible that in many businesses is the most important asset. This is because of the economic impact that brands have. They influence the choices of customers, employees, investors and government authorities. In a world of abundant choices, such influence is crucial for commercial success and creation of shareholder value. * How much the brand is likely to earn for the company in the future? * Inter Brand Uses

* Analyst’s projections
* Company financials
* Quantitative/ qualitative
* To capture value of a brand
* Market Segmentation
* Financial Analysis
* Demand Analysis
* Competitive Benchmarking
* Brand Value Calculation
* 10 Principles of Brand Strength
* Commitment – organization’s support
* Protection – legal & proprietary
* Clarity - articulation
* Responsiveness – evolve & renew
* Authenticity – heritage, consistency
* Relevance – target alignment
* Understanding – 24/6 x 365
* Consistency
* Presence – consumer “buzz”
* Differentiation – distinct/ unique
* Brand Strength
* Gainers
* Innovation
* Emotional Connection
* Investment
* Value Proposition
* Losers
* Not In Tune
* Unclear Brand Identity/ CVP
* Lack of Investment
* Lack of focus on core
* Conjoint Analysis
* What features a brand should have and how should it be priced? * Steps
* Collecting Tradeoffs
* Estimated buyer value systems
* Making choice predictions
* End Result = Quantitative Analysis of what consumers really want with each attribute evaluated in the context of the others; incorporating the trade offs * Brands make a CONNECTION with people and COMMUNICATE a DISTINCT ADVANTAGE

January 28, 2013
* Decision Support Systems
* A brand’s core is TRUST
* Why is brand building hard?
* Price Pressure
* Abundance of Competition
* Fragmented markets and media
* Complex brand strategies
* Bias toward changing strategies
* Branding against innovation
* Sin of complacency
* Short term pressure
* Analyzing Customer Perceptions and Preferences
* Favorite Brand demonstrates power of emotional elements and benefits that contribute to the strength of a brand in addition to the functional benefits

Dolan Notes
* Consumer Perceptions
* Consumer insights tools business decisions
*
* Perception: “think” “see”
* Preference: what they actually “buy”
* Perceive Volvo as a safe car but don’t want to buy (preference) * Analyze how consumers “see” brand vs. competitors * Set product positioning
* New business opportunities
* Evaluate brand against competition
* Is value prop and message clear?
* Perceptual Research
* + understanding of current position, visualizes gaps, guestimate perceptions, directs R&D * - static, no cost provision, not substitute for management judgment * Profile Analysis

* Snake plots/ spider maps
* Effective with limited brands
* Rate product/ brand on a scale
* Compute average of responses & plot
* Compare against other brands

* Perceptual Mapping...
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