Marketing material Ebook

20/02/2012 MARKETING MANAGEMENT Topic Creating Brand Equity Kotler Keller Chapter Questions What is a brand and how does branding work?  What is brand equity?  How is brand equity built, measured, and managed?  What are the important decisions in developing a branding strategy?  9-2 20/02/2012 Brand A name, term, sign, symbol or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors 9-3 Attributes of Strong Brands      Excels at delivering desired benefits Stays relevant Priced to meet perceptions of value Positioned properly Communicates consistent brand messages      Well-designed brand hierarchy Uses multiple marketing activities Understands consumer-brand relationship Supported by organization Monitors sources of brand equity 9-4 20/02/2012 The Role of Brands     Identify the maker Simplify product handling Organize accounting Offer legal protection     Signify quality Create barriers to entry Serve as a competitive advantage Secure price premium 9-5 Branding Endowing products and services with the power of a brand 9-6 20/02/2012 Brand Equity The differential effect that brand knowledge has on consumer response to the marketing of that brand 9-7 Brand Associations Strong  Unique  Favorable  9-8 20/02/2012 Marketing Advantages of Strong Brands       Improved perceptions of product performance Greater loyalty Less vulnerable to competition Less vulnerable to crises Larger margins Inelastic consumer response to price increases      Elastic consumer response to price decreases Greater trade cooperation Increase in effectiveness of IMC Licensing opportunities Brand extension opportunities 9-9 Brand Promise The marketer’s vision of what the brand must be and for Consumers 9-10 20/02/2012 Brand Equity Models  Brand Asset Valuator  Aaker Model  BRANDZ  Brand Resonance 9-11 Drivers of Brand Equity Brand elements  Marketing activities  Meaning transference  9-12 20/02/2012 Brand Elements    Brand names Slogans Characters    URLs Logos Symbols 9-13 Brand Element Choice Criteria    Memorable Meaningful Likeability    Transferable Adaptable Protectible 9-14 20/02/2012 Slogans      Like a good neighbor, State Farm is there Just it Nothing runs like a Deere Help is just around the corner Save 15% or more in 15 minutes or less         We try harder We’ll pick you up Nextel – Done Zoom Zoom I’m lovin’ it Innovation at work This Bud’s for you Always low prices 9-15 Measuring Brand Equity Brand audits  Brand tracking  Brand valuation  9-16 20/02/2012 Interbrand’s Brand Equity Formula        Brand earnings Brand sales Costs of sales Marketing costs Overhead expenses Remuneration of capital charge Taxation         Brand strength Leadership (25%) Stability (15%) Market (10%) Geographic spread (25%) Trend (10%) Support (10%) Protection (5%) 9-17 Managing Brand Equity Brand reinforcement  Brand revitalization  Brand crises  9-18 20/02/2012 Devising a Branding Strategy Develop new brand elements  Apply existing brand elements  Use a combination of old and new  9-19 Branding Terms       Brand line Brand mix Brand extension Sub-brand Parent brand Family brand       Line extension Category extension Branded variants Licensed product Brand dilution Brand portfolio 9-20 10 20/02/2012 Why Sponsor Events?         To identify with a particular target market or life style To increase brand awareness To create or reinforce consumer perceptions of key brand image associations To enhance corporate image To create experiences and evoke feelings To express commitment to community To entertain key clients or reward employees To permit merchandising or promotional opportunities 18-25 Using Sponsored Events Establish objectives Choose event opportunities Design program Implement and control Measure effectiveness 18-26 13 20/02/2012 Ideal Events Audience closely matches target market Event generates media attention Event is unique with few sponsors Event lends itself to ancillary activities Event enhances brand image of sponsor 18-27 Public Relations Functions Press relations  Product publicity  Corporate communications  Lobbying  Counseling  18-28 14 20/02/2012 Marketing Public Relations Functions       Assist in product launches Assist in repositioning mature products Build interest in a product category Influence specific target groups Defend products Build corporate image 18-29 Major Tools in Marketing PR Publications  Events  Sponsorships  News  Speeches  Public Service Activities  Identity Media  18-30 15 20/02/2012 Steps in Marketing PR Establish objectives Choose messages Choose vehicles Implement and control Measure effectiveness 18-31 16 20/02/2012 MARKETING MANAGEMENT Topic Introducing New Market Offerings Kotler Keller Chapter Questions      What challenges does a company face in developing new products? What organizational structures are used to manage new-product development? What are the main stages in developing new products? What is the best way to set up the new-product development process? What factors affect the rate of diffusion and consumer adoption of newly launched products? 20-2 20/02/2012 Categories of New Products New-to-the-world  New product lines  Additions to product lines  Improvements to products  Repositionings  Cost reductions  20-3 Factors That Limit New Product Development Shortage of ideas  Fragmented markets  Social and governmental constraints  Cost of development  Capital shortages  Faster required development time  Shorter product life cycles  20-4 20/02/2012 Venture Team Cross-functional group charged with developing a specific product or business; Intrapreneurs are relieved of other duties and provided a budget and time frame 20-5 Criteria for Staffing Venture Teams Desired team leadership style  Desired level of leader expertise  Team member skills and expertise  Level of interest in concept  Potential for personal reward  Diversity of team members  20-6 20/02/2012 Idea Generation: Creativity Techniques Attribute listing  Forced relationships  Morphological analysis  Reverse assumption analysis  New contexts  Mind mapping  20-7 Variations on Failure    Absolute product failure Partial product failure Relative product failure 20-8 20/02/2012 Concepts in Concept Development Product idea  Product concept  Category concept  Brand concept  Concept testing  20-9 Concept Testing Communicability and believability  Need level  Gap level  Perceived value  Purchase intention  User targets, purchase occasions, purchasing frequency  20-10 20/02/2012 Marketing Strategy Target market’s size, structure, and behavior  Planned price, distribution, and promotion for Year  Long-run sales and profit goals and marketing-mix strategy over time  20-11 Product Development  Quality function deployment (QFD) Customer attributes Engineering attributes 20-12 20/02/2012 Prototype Testing Alpha testing  Best testing   Rank-order method  Paired-comparison method  Monadic-rating method  Market testing 20-13 Consumer Goods Market Testing Sales-Wave Research  Simulated Test Marketing  Controlled Test Marketing  Test Markets  20-14 20/02/2012 Test Market Decisions How many test cities?  Which cities?  Length of test?  What information?  What action to take?  20-15 Timing of Market Entry First entry  Parallel entry  Late entry  20-16 20/02/2012 Criteria for Choosing Rollout Markets Market potential  Company’s local reputation  Cost of filling pipeline  Cost of communication media  20-17 Consumer-Adoption Process Adoption is an individual’s decision to become a regular user of a product 20-18 20/02/2012 Stages in the Adoption Process Awareness Interest Evaluation Trial Adoption 20-19 Adopter Categorization Innovators  Early adopters  Early majority  Late majority  Laggards  20-20 10 20/02/2012 Characteristics of an Innovation  Relative advantage  Compatibility  Complexity  Divisibility  Communicability 20-21 11