Media Planning & Brand Management - Stella Romagnoli€¦ · – BrandZ and CharacterZ by Millward...

Media Planning & Brand Management

Stella RomagnoliMarketing & Digital Communication

LUMSA 2019-2020

Stella RomagnoliMedia Planning & Brand Management - LUMSA 2019/20 2

Lesson 3.Brand Value and

Brand audit

Branding Building Process

1. Define the Brand (Vision, Mission, Values)

2. Position the brand3. Express the brand

4. Build awareness and reputation for the brand5. Measure the brand


What will you learn at the end of this section?

• Expressing the brand with the products

• Considering the brand experience throughout the customer journey

• Expressing the brand on social media• What is Brand Equity and what resources create value for

the brand

• Why successful brands are important• What to measure to assess Brand Equity

• The Brand Audit process and some assessmentmethodologies:



3. Build awareness and reputation for the brand


We must keep the brand promise

with our products and all the touchpoints


Product performanceand brand essence

Product performance and brand essence


2’19’’

Branding Foundation – Drew Boyd – Lynda.com

How to link product features with brand drivers

The products or services that we provide are the mostimportant components of branding: they must deliver the benefits that we promise.We must be sure that there isn’t a gap between products’ performance and the brand.• Make a list of all key product/service features• Identify each feature’s benefit:

– Functional,– Economic,

– Emotional,– Self-expressive, …

• Compare this list with the brand drivers and try to connect each benefit with at least one of the drivers



Brand Experiencethroughout the customer

journey

Customer journey and brand experience


2’13’’


Brand experience

• To ensure that we mantain the Brand Promise in all the touchpoints, we must analyse the customer journey for our products/services

• Usually these are the steps:

1. Need recognition2. Information search3. Evaluation of alternatives4. Purchase5. Post-purchase behavior

• After defining our customer touchpoints, we selectbrand drivers to emphasize in each one of the steps with different media


Customer Journey and touchpoints


Stores and packaging are veryimportant for the brand experience

Packaging and brand experience

• Packaging is a very important touchpoint because it maybe the first physical encounter your customer has with the brand

• It may also be the last physical encounter they have right before they buy the product

• In creating the packaging we must consider– The funtional role (mantain goods, explain how it works,

and so on)– The emotional role (depending on brand values)

– The messages (to reinforce the positioning and the brand promise)

– The visual identity and tone of voice (consistent with the Brand Book)


Pakaging and brand essence


Branded space and environment

• Spaces could provide a multisensory experience for the brand

• Not only the retail stores, but also the company lobby, a sporting event, a convention, can carry the look and feel of the brand.

• Creating a branded space is more than just adding a logo.

• After choosing the location we must decide which brand driver to convey (it could depend on the size of the space) and which specific components within the space will havethe job of communicating that driver


Brand experience in stores


Branded space



External communication

External communiction


3’17’’


External communication

• During this course we will focus on the externalcommunication process

• We will analyse owned, paid and earned media• And we will see how to choose, plan and buy paid media

for an advertising campaign.



Expressing the brandOn social media

Social media and digital channels


2’36’’


Using digital channel

1. Ensure consistent look & feel

2. Use the same voice3. Define who can post (and who can’t)

4. Specify the role of each site (tied to a brand driver)



Brand Equity

Why successful brands are important?

• A brand is a "mental structure" that helps customers organizing their knowledge in order to simplify purchasing decisions.

• Strong brands have the ability to orient and attract customers and so generate lasting value for the company.


Brand benefits: why are brands important


1’51’’

Successful brand benefits

A successful brand:

• Defines a clear and distinctive positioning compared to competitors.

• Develops positive attitudes • Builds customer loyalty (also for employees).

• Allows higher prices (less sensitivity to the price and greater price differential acceptance: premium price).

• Is less vulnerable Vs. competitors.

• Makes it easier to launch new products.• Helps in talent recruitment.• Allows greater bargaining power over the trade.• Has more legal protectability against imitations.• Creates an intangible capital.


Brand equity: what resources create value for the brand

Each Advertising Group and Brand Research Institute has itsown proprietary method to measure Brand Value, but the main resources that create brand value are basically the same in each model:

1. Identity2. Awareness3. Image4. Perceived quality5. Relationship with customers and stakeholders6. Loyalty


Brand Equity measurement by Interbrand


1’52’’


Comparing brand value calculated by Interbrand (2011-19)


Building and maintain a strong brand

To build and maintain a strong brand we must:

• Ensure that customers identify the brand and associate it with a certain offer;

• Create relevant and distinctive meanings in the customer's mind, establishing a strategic link between tangible associations and the exclusive intangibles of the brand;

• Provoke a rational and emotional response to the created associations, transforming this response into a loyal client-brand relationship (recognized and rewarded).


5. Measuring the brand


Measuring your brand


3’04’’


Measuring our brand

Basically we measure the resources that build brand value1. What is the basic awareness of the brand?2. How well does the audience understand our brand?

(brand image and perceived quality. Brand identity and drivers)

3. How much loyalty is the brand building? (relationshipwith customers and stakeholders)


Branding: customer loyalty challenges

If people know our products or services, but will not purchase again or recommend them to their friends&family(net promoter score), we might be • Lacking relevance• Lacking differentiation• Lacking consistencyTherefore we need to reconsider all the branding process


Internal factor to measure

Internal brand assessment is very important.

It’s the people who work in the company that help keeping the promise!Do employees:1. Fully understand the brand? (mission, vision, values,

brand personality?)

2. Understand target audience, customer insights and drivers?

3. Have commitment to the brand?4. Protect the brand?



Brand audit

Brand Audit

The Brand Audit process is a set of analysis aimed to assessing the current state of health of the brand and identifying the potential for its future development.Through the Brand Audit the management can evaluate:

• The opportunity to introduce new products / brands on the market

• The mental dispositions of consumers towards the brand (awareness, image, preferences, satisfaction, loyalty)

• The value of the brand (brand equity) and the economic and competitive performance (Share of market)

• The strengths and weaknesses of the communication strategies adopted


Brand measurement

• There are several assessment methodologies developed by different agencies and research institutes:

– Brand Strength Score by Interbrand

– BrandZ and CharacterZ by Millward Brown (WPP Group)

– Lovemarks by Saatchi&Saatchi

– IPSOS Corporate Reputation– Brand Asset Valuator by Y&R

– Etc.


Brandz Pyramid


Brand pyramid






1’57’’

http://www.millwardbrown.com/brandz/rankings-and-reports/top-italian-brands


Lovemarks di Saatchi&Saatchi

Lovemarks Theory

• Lovemarks theory is based on a simple premise: human beings are powered by emotion, not by reason.

• This is the essence of the Lovemarks argument. If you want people to take action you need to appeal to their emotions.


https://www.brandingstrategyinsider.com/2013/08/brand-strategy-and-the-lovemarks-theory.html#.XCil5y2h12Q

Neurologist Donald Calne perhaps said it best: “The essential difference between emotion and reason is that emotion leads to action

while reason leads to conclusions.”

The Love/Respect Axis

There are "two axes”, one of which runs from low to high respect, and the other which runs from low to high love.

Following this scheme we have:• Commodities (products) command neither

love nor respect.

• Fads attract love, but without respect this love is just a passing infatuation.

• Brands attract respect, even lasting respect, but without love.

• Lovemarks command both respect and love. This is achieved through the trinity of mystery, sensuality, and intimacy.


Wikipedia - Kevin Roberts, CEO of the advertising agency Saatchi & Saatchi.

Lovemarks

Lovemarks are built on Respect and Love.

Without Respect, there is no foundation for any long-term relationship. However, without Love, brands are unable to move beyond transactional relationships into emotional relationships with consumers.• The key elements of Respect are:

– Performance (innovation, quality, service, identity, value)

– Trust (reliability, commitment, ease, openness, security)

– Reputation (leadership, honesty, responsibility, efficacy)


http://www.saatchikevin.com/wp-content/uploads/2014/07/Lovemarks-Academic_Module-1-Teaching-Notes.pdf

The main question beyond this theory is "What builds Loyalty that goes Beyond Reason”?Roberts suggests the following are the key ingredients to create lovemarks:

• Mystery:– Great stories: past, present and future; taps into

dreams, myths and icons; and inspiration

• Sensuality:– Sound, sight, smell, touch, and taste

• Intimacy:– Commitment, empathy, and passion



BAVBy Young&Rubicam

Today is BAVGroup


https://www.bavgroup.com/about-bav

Brand Asset Valuator

• BrandAsset® Valuator (BAV®) is the world’s largest and leading empirical study of consumer brand perceptions.

• Since 1993, BAV has measured over 60,000 different brands on 75 consistent brand image and equity metrics. This data has accumulated across 50 countries, resulting in over 9 billion data points.

• BAV is not only a research on brand value, but also a theory on the growth and decline of brands, supported by periodic surveys.


How it works

• There are 2 main assets (XY axes) that form a grid:

– Brand Strength (that depends on Differentiation & Relevance)

– Brand Stature (that depends on Knowledge & Esteem)• The relationship between these 4 Brand Pillars paint a

holistic picture of brand challenges and opportunities



The 4 Brand Pillars


The power Grid



Audi Vs. BMW and Toyota


Levi’s Vs. A&F and Wrangler


Brand Life Cycle

These assets do not occur simultaneously.

Every brand, from the moment of birth to that of the eventual disappearance, follows a life cycle1. In the early years (new, with unexpressed potential) the

(healthy) brand develops its original identity (Differentiation) that will have to satisfy the consumer’s needs (Relevance)

2. In the adult phase (increasing potential) the brand can form its Stature: obtains the Esteem of the consumer and becomes a life partner (Knowledge)


3. The brand become great (The Momentum Leader, than Mass Market, with less potential) and must defend its asset. In particular, it will tend to lose the characteristics of youth (the strength of diversity)

4. In the absence of successful activities (potential loss, decline, out of focus) the brand travels the reverse path, become Eroded and loses not only Strength, but also Esteem and Knowledge (stature)


30

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0 10 20 30 40 50 60 70 80 90 100

NICHE ORUNREALIZED

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NEW ERODEDUNFOCUSED

MOMENTUMLEADERSHIP

HIGH POTENTIAL, HIGH REVENUES

LOWPOTENTIAL

MASS MARKET

BAV® LIFE CYCLE

STATURE

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ThanksSources:


Alberto Pastore, Maria Vernuccio - Impresa e Comunicazione – 2008

www.lovemarks.com


http://www.lovemarks.com/

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