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CREATING BRAND EQUITY | CHAPTER 9 247 By plotting a representative group of brands’ scores for both strength and stature, this matrix derived from the BrandAsset Valuator shows an accurate picture of a brand’s status and overall performance. STRENGTH Energized Differentiation and Relevance HIGH LOW Zara These brands have low brand strength but high potential. They have built some energy and relevance, but are known to only a relatively small audience. Consumers are expressing curiosity and interest. Tazo Lenovo Method Grameen Bank Shiseido Kayak.com Flickr BitTorrent Second Life Joost Camper Pom Glacéau Vitamin Water AMD Palm Patagonia Crocs Lindt Facebook Moet & Chandon Red Bull NEW/UNFOCUSED Kia Michelob Napster Viacom Vespa Finesse Vonage Taster´s Choice Dristan Wikipedia Mini Cooper TiVo SanDisk NICHE/MOMENTUM Garnier Lacoste Silk Soymilk Autotrader Schlitz Diners Club Efferdent These brands, with both low brand stature and low brand strength, are not well known among the general population. Many are new entrants; others are middling brands that have lost their way. Absolut NBA IKEA Kodak Xbox NASCAR Nordstrom AOL STATURE Esteem and Knowledge Pixar Dr. Pepper LG Ninetendo Wii Apple iPhone BlackBerry These brands have become irresistible, combining high brand strength with high brand stature. They have high earnings, high margin power, and the greatest potential to create future value. Denny´s Sprint Midas Century 21 Prudential Alpo Netflix DirecTV ERODING/DECLINING Harley-Davidson Amazon Adidas Nikon LEADERSHIP Blockbuster Bausch & Lomb Bank of America American Airlines Greyhound Burger King H&R Block Toyota Xerox Tylenol Verizon Advil Staples Nike Microsoft GE Target Gerber These brands show why high brand stature by itself is insufficient for maintaining a leading position. They struggle to overcome what consumers already know about and expect from them. HIGH |Fig. 9.2| The Universe of Brand Performance Source: Young & Rubicam BrandAsset Valuator. Nothing else beats it Does it offer something better than the others? Can it deliver? Bonding Advantage Performance Strong relationship/ High share of category expenditure |Fig. 9.3| BrandDynamics Pyramid Source: BrandDynamics Pyramid. Reprinted with permission of Millward Brown. Does it offer me something? Relevance Do I know about it? Presence Weak relationship/ Low share of category expenditure
248 PART 4 BUILDING STRONG BRANDS Marketing Insight Brand Bubble Trouble In The Brand Bubble, brand consultants Ed Lebar and John Gerzema use Y&R’s historical BAV database to conduct a comprehensive examination of the state of brands. Beginning with data from mid-2004, they discovered several odd trends. For thousands of consumer goods and services brands, key brand value measures such as consumer “top-of-mind” awareness, trust, regard, and admiration experienced significant drops. At the same time, however, share prices for a number of years were being driven higher by the intangible value the markets were attributing to consumer brands. Digging deeper, Lebar and Gerzema found the increase was actually due to a very few extremely strong brands such as Google, Apple, and Nike. The value created by the vast majority of brands was stagnating or falling. The authors viewed this mismatch between the value consumers see in brands and the value the markets were ascribing to them as a recipe for disaster in two ways. At the macroeconomic level, it implied that stock prices of most consumer companies are overstated. At the microeconomic, company level, it pointed to a serious and continuing problem in brand management. Why have consumer attitudes toward brands declined? The research identified three fundamental causes. First, there has been a proliferation of brands. New product introductions have accelerated, but many fail to register with consumers. Two, consumers expect creative “big ideas” from brands and feel they are just not getting them. Finally, due to corporate scandals, product crises, and executive misbehavior, trust in brands has plummeted. Yet, vital brands are still being successfully built. Although all four pillars of the BAV model play a role, the strongest brands resonated with consumers in a special way. Amazon.com, Axe, Facebook, Innocent, IKEA, Land Rover, LG, LEGO, Tata, Nano, Twitter, Whole Foods, and Zappos exhibited notable energized differentiation by communicating dynamism and creativity in ways most other brands did not. Formally, the BAV analysis identified three factors that help define energy and the marketplace momentum it creates: 1. Vision—A clear direction and point of view on the world and how it can and should be changed. 2. Invention—An intention for the product or service to change the way people think, feel, and behave. 3. Dynamism—Excitement and affinity in the way the brand is presented. The authors offer a five-step framework to infuse brands with more energy. 1. Perform an “energy audit” on your brand. Identify the current sources and level of energy to understand your brand’s strengths and weaknesses and how well brand management aligns with the dynamics of the new marketplace. 2. Make your brand an organizing principle for the business. Find an essential brand idea or thought that can serve as a lens through which you define every aspect of the customer experience, including products, services, and communications. 3. Create an energized value chain. Make the organization’s goals for the brand real for everyone; all participants must think uniquely from the perspective of the brand and understand how their own actions boost the energy level of the brand and fuel the core. 4. Become an energy-driven enterprise. Stakeholders need to transfer their energy and passion to their business units and functions. Once management’s aspirations for the brand and business begin becoming part of the culture, the process of building an energized brand enterprise is nearly complete. 5. Create a loop of constant reinvention. Finally, keep the organization and its brand in a state of constant renewal. Brand managers must be keenly aware of shifts in consumers’ perception and values and be ready to reshape themselves again and again. Sources: John Gerzema and Ed Lebar, The Brand Bubble: The Looming Crisis in Brand Value and How to Avoid It (New York: Jossey-Bass, 2008); John Gerzema and Ed Lebar, “The Trouble with Brands,” Strategy+Business 55 (Summer 2009). According to this model, enacting the four steps means establishing a pyramid of six “brand building blocks” as illustrated in Figure 9.4. The model emphasizes the duality of brands—the rational route to brand building is on the left side of the pyramid and the emotional route is on the right side. 22 MasterCard is a brand with duality, because it emphasizes both the rational advantages of the credit card—its acceptance at establishments worldwide—as well as the emotional advantages, expressed in the award-winning “Priceless” advertising campaign (“There are some things money can’t buy; for everything else, there’s MasterCard.”). Creating significant brand equity requires reaching the top of the brand pyramid, which occurs only if the right building blocks are put into place. • Brand salience is how often and how easily customers think of the brand under various purchase or consumption situations. • Brand performance is how well the product or service meets customers’ functional needs. • Brand imagery describes the extrinsic properties of the product or service, including the ways in which the brand attempts to meet customers’ psychological or social needs.
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Marketing Management 14 PHILIP KOTL
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This book is dedicated to my wife a
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Kevin Lane Keller is widely recogni
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Contents Preface PART 1 CHAPTER 1 x
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Maximizing Customer Lifetime Value
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PART 5 Expanding Total Market Deman
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CHAPTER 16 Managing Retailing, Whol
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Managing the Development Process: C
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even part of the marketing vocabula
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• Interactive Elements—A wealth
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We are indebted to the following co
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Marketing Management
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Defining Marketing for the 21st Cen
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DEFINING MARKETING FOR THE 21ST CEN
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Developing Marketing Strategies and
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DEVELOPING MARKETING STRATEGIES AND
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Collecting Information and Forecast
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COLLECTING INFORMATION AND FORECAST
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Conducting Marketing Research Good
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CONDUCTING MARKETING RESEARCH | CHA
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Creating Long-term Loyalty Relation
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CREATING LONG-TERM LOYALTY RELATION
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Analyzing Consumer Markets The aim
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ANALYZING CONSUMER MARKETS | CHAPTE
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Analyzing Business Markets Business
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CRAFTING THE BRAND POSITIONING | CH
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Competitive Dynamics To be a long-t
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COMPETITIVE DYNAMICS | CHAPTER 11 3
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Setting Product Strategy At the hea
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SETTING PRODUCT STRATEGY | CHAPTER
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Designing and Managing Services As
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DESIGNING AND MANAGING SERVICES | C
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Developing Pricing Strategies and P
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Designing and Managing Integrated M
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Managing Retailing, Wholesaling, an
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Designing and Managing Integrated M
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Managing Mass Communications: Adver
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MANAGING MASS COMMUNICATIONS | CHAP
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Managing Personal Communications: D
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MANAGING PERSONAL COMMUNICATIONS |
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Introducing New Market Offerings Ne
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INTRODUCING NEW MARKET OFFERINGS |
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Tapping into Global Markets With ev
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Managing a Holistic Marketing Organ
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MANAGING A HOLISTIC MARKETING ORGAN
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APPENDIX | CHAPTER 22 653 • Marke
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APPENDIX | CHAPTER 22 655 Step 1: I
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APPENDIX | CHAPTER 22 657 keeping a
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Appendix SONIC MARKETING PLAN AND E
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Targeted Segment Customer Need Corr
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Samsung Galaxy S - Captivate Apple
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in February. Also, we will create b
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Chapter 4 Your next task is to cons
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• As a start-up company, what com
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Chapter 20 Knowing that the smart p
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Endnotes Chapter 1 1. Michael Learm
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Harvard Business School Press, 2004
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30. Queena Sook Kim, “Fisher-Pric
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Tabor, “Contributing Factors; Sev
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29. For an empirical comparison of
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75. Michael D. Johnson, and Fred Se
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Perspectives in Consumer Behavior (
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Theory and Measurement (New York: J
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25. Piet Levy, “Reeling in the Hu
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Chapter 8 1. Jonathan Schneider,
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57. Jerry Harkavy, “Colgate Buyin
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in-depth examination of how brand n
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79. John Milewicz and Paul Herbig,
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22. Kerry Capell, “Thinking Simpl
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29. Theodore Levitt, “Innovative
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Chapter 12 1. John Frank, “Beep!
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Room for Growth in Printer Market,
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23. W. Earl Sasser, “Match Supply
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Jaishankar Ganesh, Mark J. Arnold,
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Cosmetics,” Journal of Economic P
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72. For an interesting discussion o
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29. “Nike Says No to Blue-Light S
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80. Susan Fournier and Lara Lee,
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43. Ben Paynter, “Happy Hour,”
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22. Michael R. Solomon, Consumer Be
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Tribune, May 12, 2007; Avery Johnso
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Split Cable T.V. Advertising Experi
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29. Julia Angwin and Tom McGinty,
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Marketing?” Marketing NPV 3 (2006
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9. Stefan Wuyts, Shantanu Dutta, an
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Innovations,” Journal of Marketin
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89. Jordan Robertson, “How Nike G
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41. For some research method issues
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Global Strategies: A Contingency Mo
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Takes on Coffee Giants Cup by Cup,
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Metrics: 50+ Metrics Every Executiv
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Glossary A activity-based cost (ABC
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customer lifetime value (CLV) the n
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J jobbers small-scale wholesalers w
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personal communications channels tw
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target market the part of the quali
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Image Credits Chapter 1 page 2: New
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Free; page 619: Lou Linwei/Alamy Im
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Index Name Aaker, David A., 203 Aak
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McCausland, Tom, 7 McDonald, Bob, 6
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Andersen Consulting, 208, 209 Andro
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Disney Channel, 44, 178, 179 Disney
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IKEA, 5, 35, 37, 83, 179-80, 219, 2
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Nordstrom Rack, 148 North American
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StubHub, 73, 74, 412 Suave, 306 Sub
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African Americans, 77, 224 Age in d
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Channel integration and systems, 41
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Customer relationship in services,
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Family of procreation, 154 Farm pro
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Legal issues in advertising campaig
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Master brand, 260 Master franchisee
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Price, selecting final, 402-3 compa
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Retail sector, 356 Retail store, de
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Telemarketers, 558 Telemarketing, 5
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