Week 4 Part II - The Branding Process + Communication_Storytelling.pdf

1 Brand Management Week 4- The Branding Process + Communication/Storytelling Branding process, Research.. Discussion / ques...

1 Brand Management Week 4- The Branding Process + Communication/Storytelling Branding process, Research.. Discussion / questions about paper Brand Equity Brand Equity Model Wednesday September 24, 2024  2 Recap Branding process, Research.. Brand Equity, Brand Equity Model What is Brand Equity? 3 refers to the value a brand adds to a product or service beyond the functional benefits it provides. Branding process, Research.. It represents the commercial value derived from customer perceptions, loyalty, and overall brand strength, which can lead to higher sales, price premiums, and customer advocacy. intangible value that a well-known brand brings to a product. Aaker, David A. (1991). Managing Brand Equity: Capitalizing on the Value of a Brand Name. New York: The Free Press  4 Keller’s Brad Equity Model Branding process, Research.. Provides : A framework to build and manage a strong brand by understanding how customers perceive it. Four levels Goal is to move customers from simply recognizing a brand to forming a deep emotional connection with it.  5 logic behind the model is simple — to have a strong brand, one must create the right brand Branding process, Research.. image, by constructing ideal brand encounters or experiences. Branding process, Research.. 6 So how do we 7 communicate with our Branding process, Research.. customers? Storytelling ……. NEXT CLASS  8 What is the role of Storytelling in Brand Communication Storytelling is the use of narratives to engage customers emotionally. ? Branding process, Research.. Transforms facts and features into memorable experiences. Why it 9 Matters? Creates emotional connections with audiences. Humanizes the brand, making it more relatable and authentic. Helps in differentiating the brand in a crowded market. Drives loyalty by sharing the brand’s purpose and values. Branding process, Research..  11 What does a brand narrative mean? The underlying structure or framework that guides a brand’s communication. Branding process, Research.. Focus: Big picture; the long-term message a brand wants to communicate. Consistency: A coherent, ongoing message that defines the brand’s identity, purpose, and values. Example: Nike’s narrative is about empowerment, overcoming obstacles, and celebrating athletic potential. Fog, K., Budtz, C., & Yakaboylu, B. (2005). Storytelling: Branding in Practice. Springer. The role of storytelling.. 12 The individual, specific stories or episodes that bring the narrative to life. Focus: Individual stories or campaigns that engage the audience on an emotional level. Branding process, Research.. Adaptability: Flexible, can change based on the audience, product, or current events, while still aligning with the broader narrative. Example: Nike’s ‘Dream Crazy’ campaign featuring Colin Kaepernick is one storytelling moment that reflects its broader narrative of empowerment. Woodside, A. G., Sood, S., & Miller, K. E. (2008). When consumers and brands talk: Storytelling theory and research in psychology and marketing. Psychology & Marketing.Pulizzi, J. (2012). The rise of storytelling as the new marketing. Publishing Research Quarterly.  15 The process of branding is a communication of Branding process, Research.. characteristics, values, and attributes that clarify what this particular brand is and is not.  16 Conduct Research Understand the market, competition, audience, and brand environment. Gather insights to inform the brand strategy. Goal: Identify opportunities and challenges for differentiation. Branding process, Research.. Clarify Strategy Define the brand’s purpose, positioning, and value proposition. Align the brand’s mission with customer needs and competitive advantage. Goal: Establish a clear foundation for brand direction.  17 Design Identity Create the visual and verbal elements (logo, typography, colors, messaging). Ensure that these elements communicate the brand’s core values. Branding process, Research.. Goal: Develop a distinctive, memorable brand identity. Create Touchpoints Apply the brand identity across all customer-facing channels (website, packaging, social media, etc.). Ensure consistency in communication and visual elements. Goal: Build a cohesive brand experience at every touchpoint.  18 Manage Assets Maintain and evolve the brand identity over time. Monitor brand performance and adapt to changing market needs. Branding process, Research.. Goal: Ensure long-term brand consistency and relevance. Thanks Do you have any questions? Study for Quiz next Monday 09/30/24 CREDITS: This presentation template was created by Slidesgo, including icons by Flaticon and infographics & images by Freepik Please keep this slide for attribution