1. Never Underestimate the Power of a Brand

4. What is a brand?

5. “A brand is a distinguishing name and/or symbol…intended to identify goods or services and to differentiate those goods or services from those of competitors.” David Aaker Managing Brand Equity “A brand is a distinguishing name and/or symbol…intended to identify goods or services and to differentiate those goods or services from those of competitors.” David Aaker Managing Brand Equity

6. What is a brand? “A product is something that is made in a factory; a brand is something bought by a customer. “A product can be copied by a competitor; a brand is unique. “A product can be quickly outdated; a successful brand is timeless.” Stephen King WPP Group London “A product is something that is made in a factory; a brand is something bought by a customer. “A product can be copied by a competitor; a brand is unique. “A product can be quickly outdated; a successful brand is timeless.” Stephen King WPP Group London

13. Why are brands important?

14. A strong brand: Is critical for successful marketing

15. A strong brand: Is critical for successful marketing Reduces dependence on price as a purchase motivator Is critical for successful marketing Reduces dependence on price as a purchase motivator

16. A strong brand = Competitive advantage + Improved earnings Competitive advantage + Improved earnings

17. Brands: Help consumers navigate through marketplace clutter

19. Brands: Simplify decision-making Simplify decision-making

27. Brands: Heighten consumers’ comfort level with decisions Heighten consumers’ comfort level with decisions

28. Kelly’s Kolor Kit Super Oil Stu’s Diner Kelly’s Kolor Kit Super Oil Stu’s Diner

29. What does a brand do, and how does it do it?

30. A Brand: Identifies a “product’s” reason to be POD Point of Difference Identifies a “product’s” reason to be POD Point of Difference

31. POD ---> Brand Positioning ---> Brand Equity! POD ---> Brand Positioning ---> Brand Equity!

32. EXERCISE: Automobile Brands Safety Luxury Toughness Reliability Engineering Affordability Speed & Sexiness Safety Luxury Toughness Reliability Engineering Affordability Speed & Sexiness

33. EXERCISE: Automobile Brands Safety Luxury Toughness Reliability Engineering Affordability Speed & Sexiness Safety Luxury Toughness Reliability Engineering Affordability Speed & Sexiness

34. EXERCISE: Automobile Brands Safety Luxury Toughness Reliability Engineering Affordability Speed & Sexiness Safety Luxury Toughness Reliability Engineering Affordability Speed & Sexiness

35. EXERCISE: Automobile Brands Safety Luxury Toughness Reliability Engineering Affordability Speed & Sexiness Safety Luxury Toughness Reliability Engineering Affordability Speed & Sexiness

36. EXERCISE: Automobile Brands Safety Luxury Toughness Reliability Engineering Affordability Speed & Sexiness Safety Luxury Toughness Reliability Engineering Affordability Speed & Sexiness

37. EXERCISE: Automobile Brands Safety Luxury Toughness Reliability Engineering Affordability Speed & Sexiness Safety Luxury Toughness Reliability Engineering Affordability Speed & Sexiness

38. EXERCISE: Automobile Brands Safety Luxury Toughness Reliability Engineering Affordability Speed & Sexiness Safety Luxury Toughness Reliability Engineering Affordability Speed & Sexiness

39. EXERCISE: Automobile Brands Safety Luxury Toughness Reliability Engineering Affordability Speed & Sexiness Safety Luxury Toughness Reliability Engineering Affordability Speed & Sexiness

40. EXERCISE: Tourism Brands West VirginiaSo close…but a world away NashvilleWild & Wonderful SavannahBarbecue Capital of the World Bald Head IslandMusic City ArkansasEstablished 1733 Lexington, NCThe Natural State

41. EXERCISE: Tourism Brands West VirginiaWild & Wonderful NashvilleMusic City SavannahEstablished 1733 Bald Head IslandSo close…but a world away ArkansasThe Natural State Lexington, NCBarbecue Capital of the World

42. A Brand: Paints a picture in consumers’ minds ---> The brand image Paints a picture in consumers’ minds ---> The brand image

43. EXERCISE: Apparel Brands Brooks Brothers Old Navy Polo Ralph Lauren Armani Tommy Bahama Wrangler Phat Pharm/Fubu Brooks Brothers Old Navy Polo Ralph Lauren Armani Tommy Bahama Wrangler Phat Pharm/Fubu

44. EXERCISE: Apparel Brands Brooks Brothers: conservative, corporate Old Navy: young, casual, inexpensive Polo Ralph Lauren: classic, wealthy Armani: elegant, European, fitted Tommy Bahama: island casual, loose Wrangler: Western, tight Phat Pharm/Fubu: urban, hip-hop, baggy Brooks Brothers: conservative, corporate Old Navy: young, casual, inexpensive Polo Ralph Lauren: classic, wealthy Armani: elegant, European, fitted Tommy Bahama: island casual, loose Wrangler: Western, tight Phat Pharm/Fubu: urban, hip-hop, baggy

45. EXERCISE: Hotel Brands Ritz Carlton Motel 6 Holiday Inn Hyatt Hilton Ritz Carlton Motel 6 Holiday Inn Hyatt Hilton

46. Power Brands… …can even be recognized by their emblems alone

47. Power Brands… …can even be recognized by their emblems alone

48. Power Brands… …can even be recognized by their emblems alone

49. Power Brands… …can even be recognized by their emblems alone

50. Power Brands… …can even be recognized by their emblems alone

51. Power Brands… …can even be recognized by their emblems alone

52. How do you build a brand?

53. Brand Building A thoughtful and deliberate process A thoughtful and deliberate process

54. Brand Building Starts with a good “product” Starts with a good “product”

55. Brand Building FIRST: Identify a strong brand positioning THEN: Develop clear, memorable and consistent marketing messages AND: Surround your consumer 360º FIRST: Identify a strong brand positioning THEN: Develop clear, memorable and consistent marketing messages AND: Surround your consumer 360º

56. Brand Building FOUNDATION: Brand positioning New products Target consumers New markets Marketing communications FOUNDATION: Brand positioning New products Target consumers New markets Marketing communications

57. Brand Positioning Step 1: Clearly define your product Be specific Step 1: Clearly define your product Be specific

58. Brand Positioning Step 1: Clearly define your product Be specific Be realistic Step 1: Clearly define your product Be specific Be realistic

59. Brand Positioning Step 2: Evaluate competitors Consider direct & indirect competitors Use formal and/or “Grandma” research Visit, sample, experience the competition Step 2: Evaluate competitors Consider direct & indirect competitors Use formal and/or “Grandma” research Visit, sample, experience the competition

60. Brand Positioning Step 3: Determine your POD Find something unique Be honest Be realistic Step 3: Determine your POD Find something unique Be honest Be realistic

61. Your brand must create lasting value in the consumer’s mind. Brand Positioning

62. Step 4: Identify target consumer Who is and who is not Understand demographically & psychographically Profile them to make them real Step 4: Identify target consumer Who is and who is not Understand demographically & psychographically Profile them to make them real

63. Brand Positioning Step 5: Identify core values What your “product/service” stands for The values it embraces Step 5: Identify core values What your “product/service” stands for The values it embraces

64. Brand Positioning Step 6: Articulate brand positioning A few, simple words Step 6: Articulate brand positioning A few, simple words

65. Positioning Disney: Making dreams come true Nike: Innovation & inspiration for athletes Fisher Price: Toys that teach Wal-Mart: Always low prices Crest: Enabling healthy teeth Lazyboy: Comfortable seating Southwest Airlines: Warm, friendly service Disney: Making dreams come true Nike: Innovation & inspiration for athletes Fisher Price: Toys that teach Wal-Mart: Always low prices Crest: Enabling healthy teeth Lazyboy: Comfortable seating Southwest Airlines: Warm, friendly service

66. Brand Positioning Reassessing an existing brand Reassessing an existing brand

67. Brand Positioning Has anything changed? Product/service Competition Target consumer ---> Repositioning Has anything changed? Product/service Competition Target consumer ---> Repositioning

71. Brand Marketing Messages Clear

72. Brand Marketing Messages Clear Memorable Clear Memorable

73. Brand Marketing Messages Clear Memorable Consistent Clear Memorable Consistent

74. Brand Marketing Messages Step 1: Make it clear Descriptive Precise Easy to understand Step 1: Make it clear Descriptive Precise Easy to understand

75. Brand Marketing Messages Step 2: Make it memorable Unique Visual Positive associations Step 2: Make it memorable Unique Visual Positive associations

76. Brand Marketing Messages Step 3: Make it consistent Always reflects brand positioning Delivered continuously Slogan can be key Step 3: Make it consistent Always reflects brand positioning Delivered continuously Slogan can be key

82. Slogans Perdue: A healthy obsession with chicken Energizer: Keeps going and going and going Goodwill: Our business works so people can Purina: Long live your dog Weight Watchers: Watch yourself change Home Depot: You can do it. We can help. MetLife: Guarantees for the IF in life Perdue: A healthy obsession with chicken Energizer: Keeps going and going and going Goodwill: Our business works so people can Purina: Long live your dog Weight Watchers: Watch yourself change Home Depot: You can do it. We can help. MetLife: Guarantees for the IF in life

83. Brand Surround Surrounding the consumer 360º Surrounding the consumer 360º

84. Brand Surround Magazines Newspapers Television Radio Online Special events Billboards Brochures Word-of-mouth Magazines Newspapers Television Radio Online Special events Billboards Brochures Word-of-mouth

85. Branding Focus Building a brand— not just selling a product or service Building a brand— not just selling a product or service

86. Basic Branding Recipe A great product Strong brand positioning Memorable & consistent marketing messages Combine ingredients. Surround consumers 360º. Watch business grow. A great product Strong brand positioning Memorable & consistent marketing messages Combine ingredients. Surround consumers 360º. Watch business grow.

87. Never Underestimate the Power of a Brand