Brand Power .


63 views
Uploaded on:
Category: Fashion / Beauty
Description
Brand Power. An exploration. 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. Big Box Electronics. Both have Big stores (U.S.) Semi-self service
Transcripts
Slide 1

Mark Power An investigation

Slide 2

A Working Example to Explain Brand Power: Big Box Electronics The Big Box Electronics classification is described by: Huge Dollar volume Small edges Domination by 2 National Chains

Slide 3

Big Box Electronics Both have Big stores (U.S.) Semi-self administration Huge quantities of SKU\'s in for all intents and purposes each home hardware class Major brands Lots of advancements and Sales Often found proximate to each other

Slide 4

The Consumer Electronics Store Dilemma Industry Myth Whichever One Is A Right Hand Turn is the place individuals go How does the customer pick? Scott CES A CES B Raj

Slide 5

Strategic Questions Is the myth genuine? Should anything be possible to drive a wedge? What ought to the CES\'s say in regards to themselves?

Slide 6

A Question Should they discuss Products? Then again would it be a good idea for them to discuss Brands?

Slide 7

What is an item? An item is a course of action of physical qualities proposed for some reason

Slide 8

Can we take a gander at Consumer Electronics Stores as Products? Do they have physical attributes? Is it true that they are masterminded a reason? Yes So trait centered correspondence would one say one is way we could go…

Slide 9

But, what is a brand?

Slide 10

Can we take a gander at Consumer Electronics Stores as Brands? Is it accurate to say that they are representations of an item, administration, association or affiliation that are seen to be unmistakable?

Slide 11

Can we take a gander at Consumer Electronics Stores as Brands? The Myth says: Maybe, perhaps not … But rather this is the thing that we need to know!

Slide 12

Why are brands so vital? Brands have control that can rise above the properties and attributes of items, since they are Perceptions of those unmistakable components.

Slide 13

Why are brands so vital? Brands Can Have Power… Coca-Cola Is it more than cola beans, corn sweetener, prunes, flavors and nourishment coloring combined? Is it more than a refreshment? Coors Light Is it more than bounces, malted grain, yeast and water? Starbucks Is it more than espresso? USA Is it more than 50 states joined together? What about Chanel, BMW, McDonalds, Exxon?

Slide 14

Why are brands so critical? These are all brands with power They can catch consideration and frequently reliability far above others Think of what that way to your business Everyday on the rack When presenting new items In drawing in ability Or surviving PR emergencies

Slide 15

Why are brands so vital? Mark Power has diverse levels

Slide 16

Brand Power Hierarchy Relate the brand to an inclination, state of mind, occasion, impression of myself that is critical to me and my identity Know that & how it has significance Know that & how it\'s distinctive Brand Power Heard of it and comprehend what it is Heard of it, however don\'t know anything about it No consciousness of the brand

Slide 17

Brand Power Hierarchy Relate the brand to an inclination, demeanor, occasion, view of myself that is vital to me and my identity Know that & how it has significance Know that & how it\'s distinctive Heard of it and realize what it is Brand Initiation (where brands get to be brands) Heard of it, yet don\'t know anything about it No attention to the brand

Slide 18

Brand Power Hierarchy Relate the brand to an inclination, disposition, occasion, impression of myself that is imperative to me and my identity Know that/how it has significance Brand with Differentiation Know that/how it\'s distinctive Heard of it and recognize what it is Heard of it, yet don\'t know anything about it No familiarity with the brand

Slide 19

Brand Power Hierarchy Relate the brand to an inclination, mentality, occasion, impression of myself that is essential to me and my identity Brand with pertinence Know that/how it has significance Know that/how it\'s distinctive Heard of it and comprehend what it is Heard of it, yet don\'t know anything about it No consciousness of the brand

Slide 20

Brand Power Hierarchy Brand with Equity Relate the brand to an inclination, demeanor, occasion, impression of myself that is vital to me and my identity Know that/how it has importance Know that/how it\'s diverse Heard of it and recognize what it is Heard of it, yet don\'t know anything about it No familiarity with the brand

Slide 21

Brand Power Hierarchy Relate the brand to an inclination, disposition, occasion, impression of myself that is vital to me and my identity To Build Brand Power, We have to know where we are… And decide how to get to more elevated amounts Know that/how it has significance Know that/how it\'s distinctive Heard of it and comprehend what it is Heard of it, yet don\'t know anything about it No attention to the brand

Slide 22

Achieving Brand Power Brand Relevance Brand Equity Brand Differentiation + = Brand Power Brand Power is an element of Relevance, Differentiaton and Equity BP=f(D,R,BE)

Slide 23

Understanding Brands Brand Differentiation Characteristics and observations that are seen to be diverse versus options Differentiation purchases trial

Slide 24

Understanding Brands Differentiation 1 Box 1 Rock 1 Clever "care and sustaining" proprietors manual = 1 million units in several months, however gone in a month more, on the grounds that… DIFFERENT, BUT, NO RELEVANCE

Slide 25

Understanding Brands Brand Relevance Degree to which the brand is material to, or makes an association with, individuals\' ways of life, issues/needs/wishes Relevance picks up rehash thought

Slide 26

Understanding Brands Relevance Combine: Side Doors Low Step in Height Folding/removable seats With Families and Dogs = a progressive new vehicular class that has held just about a 10 share of every single light vehicle since 1990

Slide 27

Understanding Brands 2 Types of Relevance Personal Relevance: similarity with Preferences/individual tastes Beliefs and qualities Perceptions of companion acknowledgment and social effect on the individual Peer Relevance: This can quicken/decelerate/slow down and turn around movement on the brand control scale If enough "associates" begin moving in a course, the brand will run with it

Slide 28

Understanding Brands Brand Equity Derived for a fact based relationship with the brand, and the enthusiastic associations that develop from them Brand Equity gives protection

Slide 29

Understanding Brands Brand Equity Derived for a fact based relationship with the brand, and the passionate associations that develop from them Sturgis Bike Rally Annual 10 day occasion Unadvertised Draws 550,000 bikers 3/4 are more than 40 Tax income alone - over $1mm

Slide 30

Brand Equity - Breaking it down Brand Linkings The Roots of Equity Brand Linkings are Associations with the brand made through encounters - occasions, individuals, places

Slide 31

How - Breaking it down - mark value (cont) Equity Connections Associations get to be Ideas, Memories and Feelings that speak to how the brand can/connects to their lives With reiteration, practice and companion support, the linkings between the buyer and the brand get to be value associations Repetition Rehearsal Peer Reinforcement Brand Linkings The Roots of Equity Associations with the brand made through encounters - occasions, individuals, places

Slide 32

Brand Equity - separating it = ∑ Equity Connections Brand Equity Brand Equity is the importance, hugeness or reason that is gotten from the Connections made with the brand through relationship with encounters - occasions, individuals, places. Yes, values are based on attributes, yet it is the significance of those qualities, accomplished through experience that has power BE = ∑(event, individuals, put relationship with the brand * the association individuals make between those affiliation and their lives * estimation of that association with them)

Slide 33

Achieving Brand Power Brand Equity Brand Relevance Brand Differentiation + = Brand Power Brand Power is a component of Relevance, Differentiation and Equity BP=f(D,R,BE)

Slide 34

Brand Power Hierarchy Brand with Equity Relate the brand to an inclination, disposition, occasion, percpetion of myself that is imperative to me and my identity Brand with Relevance Know that/how it has importance Know that/how it\'s diverse Brand with Differentiation Heard of it and know what it is Brand Heard of it, however don\'t know anything about it No familiarity with the brand

Slide 35

Follow-up task Where do you think the Consumer Electronic Stores are on the brand control list? What mark issues do they have to address? How might you position every brand?

Slide 36

Follow-up task Hint - what is situating? Mark Positioning Expressing the relationship between the shopper and the brand in a one of a kind (versus rivalry) and convincing way Positioning is based on the separation, which means and value encounters connected with the brand

Slide 37

Follow-up task Hint #2 - applying brand control as an indicative device

Slide 38

Bonus Question - (much harder) What are the volume, and benefit suggestions in the short and long keep running of adjusting to a positionings you have prescribed? Upsides? Dangers? By what method may you approach surveying this?

Recommended
View more...