Brand Mgmt M1 S1 20246.pdf

Brand Management & Storytelling PGE M1 Session 1 Séance 1 Isabelle ULRICH (Resp. of course) Kafia Ayadi Elisha Moore [email protected] [email protected] [email protected] 1 Course objectives Obtain understanding of key branding concepts Master key analytical tools to analyze eff...

Brand Management & Storytelling PGE M1 Session 1 Séance 1 Isabelle ULRICH (Resp. of course) Kafia Ayadi Elisha Moore [email protected] [email protected] [email protected] 1 Course objectives Obtain understanding of key branding concepts Master key analytical tools to analyze efficiently brands and branding strategies Develop analytical managerial thinking about brands and identify key strategic assets to leverage them Understand key steps to create new brands Understand fundamentals of brand management strategies and coherent brand portfolio Understand brand story-telling 2 Pedagogical approach Practice Application Theory concepts during the course Real companies case studies Realize a Brand Audit mardi 19 septembre March 2023 2014 3 Course schedule S1 Introduction: what’s a brand? S2 Build strong brands S3 Evaluate a brand : key analytical tools S4 Evaluate a brand: Nielsen panels (Nielsen lecture) S5 Brand creation : process and steps S6 Growing the brand: management strategies and story-telling S7 Brand promotional activation S8 Case-study Group-Work (compulsory) S9 Case-study Group Presentation & debrief (compulsory) S10. Project ‘Brand-audit’ presentation (compulsory) 4 Evaluation In-class Case-Study (25%) – Group of 6/7 students – Group work together in class – compulsory to be here – Final presentation – compulsory Send your final document to your teacher one day before session 9 Project assignment ‘Brand audit’ (25%) – Group of 6/7 students (same group as the case study) – Work in parallel with course sessions – Final presentation - compulsory Send your final document to your teacher one day before session 9 Final Exam If campus: MCQ form and open questions / exercises (50%) Or on line: modalities to be confirmed (open questions, mini case..) 5 ‘Brand Audit’ Project Timing : Session 2 – Students names (6 or 7 per group) – Ideally : selected brand (if chosen by students) Session 10 : final presentation (powerpoint) – Slides mailed by : date to be confirmed by your teacher – 20 min presentation (all groups may not have the time to present) – Evaluation based on slides (+ use the ‘comments’ area, and appendixes) 6 ‘Brand Audit’ Project Choose a brand – then study it, using theories and concepts seen in class This should include : – – – – – – Background analysis of market / key competitors Overview of brand history (rapid) Analysis of brand positioning and brand performance Evaluation of brand identity and brand image Evaluation of one brand extension (or line extension) Recommandations and next steps to manage this extension and the global brand 7 ‘Brand Audit’ Project Proposed agenda for your slides 1. Market & competitors analysis 2. Brand Analysis 1. 2. 3. 4. Brand history overview Segmentation, target, positioning Brand Performance (market-data oriented, evolution…). Quote your sources ! Evaluation of brand identity and brand image 3. Brand extension analysis 1. 2. Overview of the extension strategy of this brand Evaluation of a recent extension Evaluation of brand extension mix Evaluation of key factors of success or failure for brand extension 4. Brand recommandations and next steps 8 Group organization Create a group of 6/7 persons Choose a captain for each group The captain (only the captain) sends the presentation by email with the name of the group members Same group for the case study & the brand audit Keep in touch with each other and especially with your captain! 9 References Reference book Also see syllabus… 10 References Journals : Google scholar, database ‘Business Source Complete’ Journal of Marketing, Journal of Consumer Research, Journal of Marketing Research, IJRM…. www.prodimarques.com www.strategies.fr INPI : https://bases-marques.inpi.fr/ 11 Outline S1 Introduction: What’s a brand ? 1. 2. 3. 4. 5. Brand definition Brand dimensions Brand functions and roles Brand types Brand related careers 12 If I say « brand »… When were 1st brands created ? How to define the term ‘brand’ ? 13 When were 1st brands created? Brand anthropology 1st elements in China on pottery (-2700 bJC) 1st use of the term ‘brand’ in France: 1456 Twinings - 1706 Moët - 1743 (Moët & Chandon - 1833) Baccarat -1764 Veuve Cliquot - 1772 Cadbury - 1824 Evian - 1826 Hermès - 1831 Lindt - 1845 Burberry - 1856 Michelin - 1898 14 1. Brand Definition « A brand is a name, term, sign, symbol or design or a combination of them, intended to identify the goods and services of one organization and to differentiate them from those of other sellers » 15 A brand can be… A physical product or a service A person A place An organization An idea Brand vs product Brand Product Has dimensions that differentiate it in some way from other products designed to satisfy the same need Anything available in the market for use or consumption, that may satisfy a need or want Brand. Product - Is intangible, fictional entity - Is timeless - Gives meaning to the product via the way it communicates - Is something tangible - Has a life cycle - Gets its meaning from the way it is used 17 Brand vs company and vs label Companies sell products under brands A company can have many brands For consumers, companies « disappear » behind brands But 1 company = 1 brand exist ! A label serves to ensure something is genuine or to guarantee quality It serves to identify, as a « dream box » 18 Legal perspective on brands (1/2) Definition: A trademark is a word, phrase, symbol, and/or design that identifies and distinguishes the source of the goods or services of one party from those of others. (https://www.uspto.gov/trademarks-getting-started/trademark-basics/trademarkpatent-or-copyright) To be registered, a trademark should be: – Graphically represented – Distinctive – Available (search on existence of prior trademarks at INPI => https://www.inpi.fr for France) – Lawful Legal perspective on brands (2/2) For how long are brands registered as trademarks? for 10 years (renewable) Can a company loose rights to exploit a registered trademark? Yes if one can prove that the trademark has not been used for 5 consecutive years 20 Brand as a set of associations In consumers’ memory, brands form a set of associations 2 perspectives from researchers: Brand = cognitive category Brand = associations’ network Toys Products Products Associations Brand Functional Abstract - Easy to use - Beautiful design ……. - Trendy Innovative - Creative - Fun ……. Fun Kids Family Products Functional Abstract - Laptop - Light - Not adapted for scientific software - iphone - ipod - small - colourful - Pleasant - Creative - Trendy - Pretty - Feminine......... fresh Meal Quality Playground Good taste Pricing Value Social Involvement Promotions Consistent Service Source : Lewi (2005) 21 2. Brand dimensions Brand = Signifier + Signified Signifier: Signified: Sign of recognition Evocative sign Signifier Any material that signifies, e.g. words, a facial expression, an image, a logo … Signified The concept, the meaning that a signifier refers to. 22 2. Brand dimensions Brand = Signifier? Star Signified? Prosperity 23 2. Brand dimensions Brand Signifier: 5 dimensions Brand sensory identity: set of perceivable brand elements which activate senses and enable to identify & differentiate it. Visual identity Name Sound identity Emblems Logo Symbols Tactile identity Design Signature Olfactory identity Sound Advertising character Gustative identity Smell Taste URL 24 2.1. Brand name Crucial part of brand identity Captures the central theme or key associations of a product Most difficult element for marketers to change Naming guidelines: see slide hereafter 25 Brand name should be.. Short, simple and easy to pronounce Evocative or familiar (or descriptive) Unique and distinctive International Possibly declinable … and not already a registered trademark! (Robertson, 1989) 26 Building a brand name Family name Adapted from family name Geographical name Initials Acronym Speed ​race by team (3 or 4 students): find a brand name for each case (2 mn. given ) N°, letter, initial, monogram Single word Compound word Variation on a word Expression Arbitrary word 27 Building a brand name Generally created from morphemic combinations. Family name Adapted from family name Geographical name Initials Acronym N°, letter, initial, monogram Single word Compound word Variation on a word Expression Arbitrary word 28 2.2.Brand Emblems Brand Logo Symbol(s) Signature Advertising character URL 29 Brand Logo A graphic representation which allows to identify a brand, in order to differentiate it from competitors. 30 Logo elements Brand name In a specific typography (2 fonts maximum) With a specific design and lay-out Executed with a « unique» color (2 or 3 colors maximum) Often associated to a specific sign: graphic picture, mascot.. 31 Different logos types Alphanumeric logo Mixed logo Iconic logo 32 A ‘strong’ logo should be… Unique Evocative Easy to memorize Long-lasting Adaptable Easy to reproduce 33 Logo coherence over time 34 Logo evolution for Starbucks 35 A ‘strong’ logo should be adaptable 3D brand icon + Metallic effect: accentuate quality and technology White background: more visibility BEFORE AFTER darker blue: more visibility 36 Managerial studies to evaluate logo effectiveness Generally, evaluation of 5 elements with consumer research (quantitative preferably) : Recognition Attribution Recall Liking Associations 37 Brand Symbols Used to accompany the brand and convey its identity. Inserted in brand logo, or on pack, in advertising... Animals People Vegetals/ minerals Geometrical Objects/ figures instruments 38 Brand Signature Short phrase that communicates descriptive or persuasive information about the brand Functions as useful “hooks” or “handles” to help consumers grasp the meaning of a brand Because I’m worth it The best a man can get What else? France is in the air 39 Brand signature should… Always express the brand positioning Creatively, should answer one or more of the following questions: – Why buy this brand? Nokia: Connecting people – For whom is the brand intended to? Harley Davidson: American by birth. Rebel by choice – How do brand products differ from competitors? Avis: We try harder – When are we supposed to use the brand products? Hallmark: When you care enough to send the very best 40 Advertising character Human being Animal & others 41 URL Specify page locations on the web Known as domain names Protect the brands from unauthorized use in other domain names www.loreal.fr www.apple.com/fr www.louisvuitton.com www.dior.com www.burberry.com www.zadig-et-voltaire.com/ 42 2.3.Design Product design LEGALLY: One can protect all design elements (logo, shape in volume, specific design and signs, specific color associations…) 43 Design Packaging design Visual merchandising 44 2.4.Sound Musical theme that accompanies the advertising overall (Heineken, Evian) Jingle: musical message written around the brand (Dim, Darty, Nescafé…) Specific sound linked to the product offer (Harley-Davidson sound, Dupont sound) Sound identity of the brand (Orange, SNCF, SFR…) => Use specific ad agencies: LEGALLY: One can protect a musical expression (phrase, or entire musical piece) to express brand sound identity. 45 2.5.Smell Product Location LEGALLY: One cannot protect the specific smell associated to a brand 46 2.6.Taste Food brands Brands having some connection with consumers’ mouth 47 2. Brand dimensions - signifier: summary Cohesiveness of the brand identity depends on the extent to which all those dimensions/elements are consistent Visual identity Name Sound identity Emblems Logo Symbols Tactile identity Design Signature Olfactory identity Sound Advertising character Gustative identity Smell Taste URL 48 2. Brand dimensions: signified Functional dimension – Duracell = brand of batteries, which are long-lasting – Volvo = brand of cars, which are safe – Dove = brand of soap, which is soft for our skin Symbolical dimension SIGNIFIED Ideological Brand Ecology Shared prosperity Patriotism Psychological Brand Performance Exceeding Fun Sociological Brand Membership Friendship Experience Cultural Brand Icon Worship 49 3. Brand functions Why do brands matter? – Consumers – Companies 50 For Consumers – Identify the source or maker of the product – Simplify product decisions – Lower the search costs for products internally and externally – Helps set reasonable expectations about what consumers may not know about the brand 51 For Consumers Signal product characteristics and attributes Reduce risks in product decision – These risks can be categorized as functional, physical, financial, social, psychological, and time 52 For Consumers Allow to express oneself and display personalization – Psychological: show one’s originality, express one’s self-concept – Sociological: express belonging to a community 53 Brand functions for companies Appropriation of benefits for the companies vs audience and secure competitive advantage = softness Authentify products and certify their origin Offer the company legal protection 54 4. Brand types Manufacturer/service brands Retail brands Store brands Own brands Value brands E-brands Pure e-brands Store brands 55 Different brand types, based on brand architecture from Kapferer Product brand Range brand Umbrella brand Endorsing brand 1 brand=1product Same brandname, Same promise, Homogeneous set of products Heterogeneous set of products, Specific promise for each product Endorse another brand, Often company name 56 Product brand Associating a specific name and promise to each product Initial strategy of companies dealing with marketing (detergents P&G, Unilever..) Advantages: – – – – Allowing different positionings Enabling to cover different market segments and targets Limiting crisis situations on the sole brand concerned Brands easy to sell to other companies Disadvantages: costly strategy 57 Range brand Associating under the same name and same promise a set of homogeneous products Fructis: fortifying your hair SHAMPOO (Product) FORTIFIER (Promise) CONDITIONER MASK/CREAM REPAIR (Product) (Product) (Product) Advantages : – Exploiting a successful concept/promise and allowing to propose complementary products along the same promise – Facilitating management of innovations – Limitating costs (launch, communication, distribution) 58 Umbrella brand A set of heterogeneous products with specific promises, differing from one segment to the other (but with some commonality) Advantages: Truly clean pH-neutral skin care Gives hair its natural beauty Cleans and respects all your laundry (1. promise) (2. promise) (3. promise) (4. promise) SHOWERGEL SHAMPOO (Product) LAUNDRY (Product) SOAP (Product) (Product) – Cost reduction (launch, communication..) – Natural increase of awareness Disadvantages: – Image dilution risk if products’ positionings are too distant/different 59 Endorsing brand (Endorser brand) Endorse another brand Quality assurance, serious, credible PRINCE (First name brand) PEPITO (First name brand) OURSON (First name brand) MATIN TAILLEFINE (First name brand) PLEASURE & ENERGY (Promise) SWEET TOOTH & FRIENDSHIP (Promise) TENDER & BALANCE (Promise) BALANCE & PLEASURE (Promise) 60 Brand Endorser ? Brand Driver ? Brand Endorser Brand Driver 61 Exercise on brand types 1965-66: launch in Italy & France of Nutella by Ferrero Renaming of a product introduced in 1961 in France and called La Tartinoise What brand type was it in 1966? Since then, Nutella has launched new offers. What brand type is it now? 2008: 2016: 62 Exercise on brand types Fruitshoot diagnostic In the growing market of refreshing non-alcoholic drinks, the "Child beverage" and "small format" segments have significant development potential. Competition is tough. Moms, buyers for their children, are vigilant about the products’ composition and are sensitive to the packaging improvements; the existing offer being considered unsatisfactory. The company Britvic that owns the brand Teisseire, a wellknown French brand, is decided to succeed the launch in France of its successful English Fruitshoot. Fruitshoot is a good natural and practical product answering the moms’ expectations, but also those of children. Fruitshoot is a promising product, but its low awareness and its undefined positioning do not allow it to find a clear place within the category of refreshing non-alcoholic drinks. 63 Exercice on brand types Fruitshoot problem How can Fruitshoot, a healthy product with innovative packaging and aligned with moms' and children’s expectations, gain visibility and differentiate in a competitive environment? 64 Exercice on Brand types Brand choice for the product Fruitshoot? Teisseire: endorser brand + Brand range name + Product naming 65 5. Brand related careers Brand Mgr (Assistant Brand Mgr at first): – 2 key missions in line with company strategy Develop brand strategy: from product development to market introduction Develop and ensure operational marketing actions: promotional activity, communication campaigns, pricing decisions, sales support plan…... => See testimonial at P&G: https://www.youtube.com/watch?v=tb0DKIDaAjo – Local or global? International groups: 2 distinct structures – International Marketing (Development, Strategic) – Operational Marketing Small companies /some sectors (food): only 1 structure doing both 66 Other brand related careers Other positions are linked to brands: – Market research Mgr – Project Mgr – Trade marketing Mgr – Promotion Mgr – Community mgr – Digital Mgr – Communication Mgr – Advertising Mgr…. 67