Brand Management - Applying Concepts and Theories

Editor's Notes

1. Welcome to the first class of Brand Management Self introduction Announcements Health Check and attendance - All students must submit their health check form when they arrive to class. Both the health check form and attendance sheet will be placed next to the classroom entrance. Smoking, eating, and drinking is normally not allowed in the classrooms, common room and vending machine on 14 and 19F Students who will apply for the CEF reimbursement must attend face-to-face classes and sign on the Class Register. (Any of you here?) Since we are a small class, would all students rather come in for face-to-face classes every week instead? Group Project - Formation of groups must be completed and with group members’ list sent to Joyce at (email) no later than July 30 2021, 11:59pm. Written Report and in-class presentation to be handed in and conducted on October 8 2021. Class Participation - Graded based on interaction during Q&A opportunities throughout the module at both lectures and tutorials. Please keep any questions to the end of the first section (before break), and at the end of the class. This is the same for students on zoom. Examination - Last two lectures are designated as revision sessions, instruction words will be gone through during both tutorials and the last two lectures (Lecture 11 - October 15 2021, lecture 12 - October 22 2021) This module is going to be built on the knowledge you have learned from introduction to branding
2. You already know this from your Introduction to branding module But is this really it? Just a name derived from people names, places, product meaning, so on and so forth?
3. What is there beyond a logo? Does anyone know how the name Adidas came about? It came from the founder’s name, he combined nickname Adi and his last name Dassler together.
4. And this made up acronym actually got adopted by the brand, and become a collaboration project It completely blurred the line of what a brand is supposed to be - something that’s pretty much static and not interactive
5. How about this? They went from highlighting speed to highlighting their bun. But what’s the big deal?
6. The big deal is their logo is just a small representative of their big characteristic.
7. This is what people recognise Burger King as, much like a real life human being with his own personality.
8. And then you have a brand like dove.
9. They never need to even mention their products to make audience know they are looking at content by dove. Because the brand has become synonymous to real women.
10. They are literally being supported by their association with real people, so much so that if we were to strip them from their women empowerment initiatives, the brand becomes hollow.
11. Increased competition because of the internet - making it harder for a brand to be remembered, differentiate Affecting customers behaviour social media Able to find more information that counters their impulse buying (more reasons not to buy), and more + easier access to products that fulfils their needs or caters to their pain points better So many new things, they’re more willing to try things and are less worried about missing out
12. Apart from that…
13. Overall, what that means is brands can’t say what they want to say and expect people to hear them, they have to show them what they want to say, let the customers experience it and respond to it at their own will
14. This literally means that legacy brands like Levis jeans who were once able to drive conversions just from its brand name is actually now on a levelled playing field with every other denim brand.
15. Therefore, in order for a brand to succeed, or let alone be recognised, brands need to shift their gears and think about these elements, instead of just the traditional branding elements of purpose, principles, positioning, promise, proof, and personality.
16. So, to answer our first question, why is branding even more important today… Do we have any particular questions here? 45 minutes
17. What I want to particularly focus in on from this quote is the word emotional
18. One of the best brand to represent this successful tap into the emotions of consumers is De Beers. They convinced consumers that the product is special even when the product differences were virtually nonexistent. All they did was market a symbolic meaning to the purchase of diamond.
19. The very concept is not that different from vintage select shops either. The products don’t solve any particular pain points, but the nostalgic emotion is enough to convert people into buying.
20. As a matter of fact, modern consumers have expressed their emotional expectations for brands.
21. One of the ways to better understand this is to look at brand values with a brand value pyramid, which follows Maslow’s hierarchy of needs.
22. This explains why brands like de beer and vintage select shops work and remains effective in driving brand awareness. This is also perhaps why some legacy brands have failed to maintain and grow their brand value.
23. What made Blackberry successful in the first place became the exact things that killed them. Of course, it also did not help to have a competitor like Apple, who was acing every single element in the brand value pyramid. Whereas Blackberry was stuck in time, Apple established not just products but a whole culture and lifestyle.
24. Unless brands learn to respect and fulfil these three elements that consumers are looking for, it will be very hard for them to create a valuable brand.
25. So, this is why the whole concept of what a brand is and what is does has indeedly changed. 1 hour 23 minutes
26. 1 hour 23- 1 hour 35 minutes
27. Start around 1:35
28. The first thing you need to realise is that brands should not be about B2B or B2C anymore, it should really be about being P2P. This means that traditional concepts and theories alone are not enough to push a brand forward at this day and age.
29. Branded house is where the parent company is the cornerstone and all products act as a sub-brand under the brand. Branded Houses usually share the same look & feel to their sub-brands. Sub brands is when a main brand creates a subsidiary or secondary brand as an opportunity to reach a new audiences. This new brand’s attributes are distinct, yet related to the main brand. Endorsed brands is a brand architecture structure that consists of distinctly different products or service brands positioned individually from its parent brand. Although these sub-brands are obviously distinctly different, they each retain an association with the endorser parent brand through visual references so endorsed brands can leverage the brand equity and reputation of the parent brand while enjoying independent positioning, visual identity, personality and messaging. House of brands is when individual products and services are treated as its own brand. The brands within this model have the freedom to create its own positioning, have a unique voice and personality. Usually, a brand within this category will have its own visual identity, unique logo, communication style and tone.
30. Brands cannot fulfil customer wants with just one big brand, they need to learn how to break apart to cater to different niche.
31. Maximum advantage, either through endorsement or independence. Hybrid brand architecture is often the result of acquisitions, where the parent brand decides on a case-by-case basis what the most beneficial brand strategy is when it acquires each new brand — either absorb it into the parent brand, retain some element of the existing brand but endorse it with the parent brand or to leave it intact.
32. Marriot Bonvoy - Bombing and data breach membership/ content/ credit card/ status/ travel expert/ media platform If a brand that is either neglected or has other difficulties gets brought under the wing of a trusted parent brand, it can help to negate the negative image of the brand that is acquired.
33. This is no longer enough.
34. Things like demographics are the mere basics of target audience information.
35. It’s not about talking or relating yourself to a culture, It’s about representing and creating a culture.
36. Branding is no longer a shield companies can somewhat hide under - customers are smarter than ever - products must be helping them and the brand must align with them on their beliefsHR plays a role in branding too - human culture is just as much as brand image
37. The lack of packaging has now become a branding element
38. This idea is not new.
39. The fragmentation of media is often perceived as a negative thing for brands, since the more channels = the more ways of distribution = the harder to get noticed = the more competitors there are.
40. Through each channel, brands are able to derive different key learnings and know more about their target audiences. This allows brands to define their niche, and attack it more precisely, ultimately achieving much higher ROI (return on investments)
41. We’ll deep dive into what omnichannel marketing is really about later in the module, but here is a great example of how to utilise our media for building brand awareness now. Personalization - Understanding your customer enables you to personalize each touchpoint across devices and locations. Fulfillment - Connecting offline and online channels through fulfillment provides an incredible convenience to customers and sales uplift and brand loyalty. Customer - Collect and connect customer behavior, demographics, product/category affinities, and purchase history across all channels in one place.
42. 2 hours 45 minutes