Description
Book SynopsisCompetitive Success: How Branding Adds Value explains how companies can realize substantial competitive advantages and gains in financial and perceptive value if they develop a brand-centric philosophy. It describes the latest brand frameworks, emphasizing their practical applications.
The book presents a comprehensive review of the entire brand spectrum, including:
- Brand strategy
- Implementation
- Customer/brand insight
- Resource allocation
- Performance measurement
Table of ContentsPreface xvii Acknowledgments xxiii
Part I Understanding the Importance of Brand 1
1 Competitive Success 3
Preview 3
Historical Snapshot 4
Strategic Overview 6
B2C and B2B Companies 6
Product versus Brand 6
Product 6
Brand definitions 7
Expanded brand definitions 10
Competitive Arenas 12
Global 12
Regional 13
National 13
Local 13
Niche 14
New Brand Definition 15
Brand Value and Brand Equity Introduction 16
Tactical Overview 17
Why Branding is Important 17
Five Levels of Branding 18
Implications 20
Brand Sustainability 20
Measurement 21
Awareness 21
Brand Scorecards 23
Brand Assets 23
Brand Liabilities 23
Summary 25
Discussion Questions 26
Case Briefs 26
2 Brand Value 31
Preview 31
Brand Equity and Brand Value Revisited 32
Brand Building to Create Brand Value 33
Dimensions of Brand Value 34
Trusted Reputation 34
Touchpoints 35
Tangible Touchpoints 35
Intangible Touchpoints 35
Organizational 36
Societal Relevance 37
Individual Value 38
Corporate Social Responsibility 39
Financial 41
Understanding and Measuring Brand Value 42
Simplified Brand Valuation 42
MacInnis and Park Brand Equity Methodology 42
Formal Brand Valuation 44
BrandFinance Brand Valuation Methodology 44
Interbrand Brand Valuation Methodology 48
Differences in Brand Value Results 50
Consumer-Based Brand Equity 51
The Young & Rubicam Brand Asset® Valuator 51
MillwardBrown BrandDynamics™ Pyramid 52
Measurement 53
Customer Brand Value 53
Summary 54
Discussion Questions 55
3 Brand Portfolios and Architecture 59
Preview 59
Brand Portfolios 60
What is Brand Architecture? 61
Brand Relationship Spectrum 62
Branded House 62
Sub-Brands 63
House of Brands 64
Endorsed Brands 65
Overlap 66
Brand Hierarchy 67
Corporate/Company Brand 68
Family Brand 69
Individual Brand 70
Modifiers 71
Brand Relationship Spectrum and Brand Hierarchy 73
Similarities 73
Differences 73
Which is Better? 73
Building Brand Strength 73
Line Extensions 74
Stretching a Brand Vertically 76
Brand Extensions 78
Cobranding 79
Associations 81
Focal 82
Superordinate 82
Subordinate 82
Associations as Touchpoints 82
Measurement 83
Brand Contribution and Review Analysis 83
Impact on Brand Architecture 86
Summary 86
Discussion Questions 87
Part II New Brand Frameworks 93
4 The New Brand Building Framework: Destiny-Distinction-Culture-Experiences (DDCE) 95
Preview 95
New Brand Framework 96
Understanding the Big Picture 96
Brand Framework Elements 97
Destiny 98
Distinction 100
Culture 101
Experiences 101
Using the DDCE Framework 104
Relationship to Brand Value, Customer Equity, Purpose Brands 110
Measurement 113
Market Share 113
Relative Market Share 114
Brand Development Index 115
Category Development Index 115
Customer Lifetime Value 116
Approach 1 116
Approach 2 117
Summary 118
Discussion Questions 118
5 Brand Destiny 121
Preview 121
Destiny 122
Four Subcomponents of Successful Brand Destiny 123
Ultimate Dream 123
Aspiration 124
Vision 126
Creating Value 130
Contribution and Impact 130
Competencies and Skills 130
Values 131
Living the Values 132
Personality 135
Actions 136
Intellect 136
Emotions 137
Instincts 138
Authenticity 138
Measurement 140
Destiny Diagnostic 140
Summary 142
Discussion Questions 144
6 Brand Distinction 147
Preview 147
Brand Distinction's Role in the Firm 148
Four Subcomponents of Successful Brand Distinction 148
Heritage 149
Uniqueness 150
Precedents 150
Core Competences 151
Context 152
Customers 153
Company 153
Competitors 153
Collaborators 153
Conditions 154
Goals 157
Growth Strategies 158
Brand Distinction as Inspiration 163
Positioning 164
Measurement 166
Market Growth 167
Share of Wallet/Share of Customer 167
Market Penetration 168
Summary 170
Discussion Questions 170
7 Brand Culture 173
Preview 173
Brand Culture 174
Brand Management and Senior Management 177
Four Subcomponents of Successful Brand Cultures 179
Competencies 180
Behaviors 182
The Five Ambassadors 182
Organization 189
Decision-Making Process 192
Clear Roles and Responsibilities 192
Active Coordination 193
Problem Solving, Not Finger Pointing 193
Humanistic, Not Mechanistic 194
Social Fabric 195
Internal Branding 196
Five Es of Internal Branding 197
Educate 198
Exchange 198
Excite 199
Engage 199
Exemplify 200
Managing the Brand Throughout the Company 200
Strengths 200
Consistent Brand Image 200
Common Marketing Plans and Activities 201
Leverage Budgets Effectively 201
Challenges 201
Brand Culture Interactivity 204
Measurement 206
Recruiting 206
Sales/Profits per Employee 207
Turnover Rate 208
Summary 210
Discussion Questions 210
8 Overview of Brand Experiences 215
Preview 216
What are Experiences? 216
Four Subcomponents of Successful Brand Experiences 216
An Experience Mandate 217
Senior Management 218
Marketing 218
Product 219
Support 219
Human Resources 220
Finance 220
Sales 220
Partners 221
Front Lines 221
Experiential Marketing 221
Sense 221
Feel 222
Think 222
Act 222
Relate 222
The Importance of Being Special 223
The Importance of Creativity 224
The Importance of Engaging and Relating 228
Whole Brain Not Half Brain 230
Applicable to All? 230
Measurement 231
Snapshot Surveys 231
Objective Scoring 231
Detailed Questionnaires 231
Direct Observation 231
Summary 232
Discussion Questions 232
9 Brand Experiences: Customers and Solutions 235
Preview 235
Customers 236
Segmentation, Targeting, Positioning (STP) 237
Segmentation 238
Targeting 246
Positioning 248
Customer Cycle and Brand Growth 252
Brand Lifecycle and Marketing Changes 256
Solutions 258
Brand-Product Relationship 259
Product Taxonomy 260
Brand-Product Combinations 260
Product 261
Marketing and Product Development 262
Specialty 263
Status Quo 264
Keeping Growth Strong 264
Price 265
Cost 266
Pricing Strategies 266
Brand Pricing Criteria 268
Pricing and the Lifecycle 269
Measurement 271
Customer Measures 272
Per Customer Acquisition Costs 272
Retention Rate 273
Segment Profitability 274
Pricing Measures 275
Mark-up Price 276
Summary 277
Discussion Questions 278
10 Brand Experiences: Marketing Communications and Environment 283
Preview 284
Marketing Communications 284
Objectives 287
Modes, Implementation, Measurement 287
Traditional Marketing 288
Traditional Marketing Characteristics 289
Traditional Marketing Communications 289
Traditional Marketing Tools 289
Television Advertising 289
Radio 290
Sales Promotion 291
Print 291
Direct Marketing 292
Team and/or Event Sponsorship 292
Event/Trade Show Booth 293
Sales/Business Development 294
Public Relations 295
Hospitality/VIP Venues 295
Outdoor Advertising 295
Traditional Marketing Brand Planning 297
Traditional Marketing Costs 299
Nontraditional Marketing (NT Marketing) 300
Nontraditional Marketing Characteristics 300
Nontraditional Marketing Communications 301
Nontraditional Marketing Tools 302
Multimedia 302
Web 303
Search 304
Banners 305
Interstitial 305
Blogs 306
Podcasts 307
Social Media and Web 2.0 307
Mobile 308
Customer Relationship Management (CRM) 309
Business Intelligence/Analytics 309
Personalization 310
Email Marketing 311
Permission Marketing 311
Partnerships 312
Nontraditional Marketing Brand Planning 312
Nontraditional Marketing Costs 313
Nontraditional Marketing Growth 314
Mobile 315
Blogs 317
Podcasts 317
Social Media 317
IMC Trends 318
Impact on Consumer Decision-Making 320
Communication Effectiveness 322
Creative Execution 323
Creative Challenges: Getting the Point Across 323
Message 326
Message Guidelines 327
Imagery 328
Brand Lifecycle 331
Environment 332
Implications for Brands 332
Environment Factors in Creating Successful Brand Experiences 332
Hire Right People 333
Innovation and Creativity 334
Channel Design 335
Authenticity and Integrity 341
Measurement 343
Marketing Communications Measures 344
Ad-to-Sales Ratio 344
Response Rate 345
Conversion Rate 345
Share of Voice 346
Cost per Thousand 347
Cost per Click 347
Cost per Order 348
Environment Measures 348
Experiential Marketing 349
Summary 350
Discussion Questions 351
Case Brief 352
Part III Brand Leadership 361
11 Brand Leadership: Senior Management, Team, Planning, Mapping 363
Preview 363
Senior Management 364
Team 365
Team Capabilities 365
Business/Brand Strategy (and Likely Team Leader) 365
Category Management 365
Product Management 366
Creative Management 366
Marketing Communications 367
Marketing Research 367
Business Development 367
Team Needs 367
Strategic Insight 367
Brand "Ownership" (Who is Responsible/Accountable?) 367
Customer Proximity 368
Tactical Management/Execution 368
Expertise/Specialists 369
Alignment and Collaboration 369
Measurement/Review/Adjustment 369
Planning 369
Principles 369
Brand Planning Framework 370
Brand Plan 371
Overview 371
Brand Analysis 372
Financial Analysis 374
Mapping 374
Brand Touchpoints Map 374
Customer Experience Journey Map 377
Measurement 382
Summary 382
Discussion Questions 382
Index 385
