Create and Maintain Brand Leadershippds5.egloos.com/pds/200703/11/53/asian brand strategy - martin...

Create and Maintain Brand Leadership

Edelman KoreaSeoul, March 7, 2007

Martin Roll, VentureRepublicroll@venturerepublic.com

”What other brand name do you see tattooed on people?”

Bob Dron, Harley-Davidson dealerOakland, US

The Asian challenges

• Low cost is becoming a commodity

• Chinese and Indian economy

• Trading mindset

• Less focus on innovation

• Asset challenge

• Dominance of large diversified conglomerates

• Excess capacity

• IP/Trademarks

Brands drive shareholder value

• Academic study found that on average, strong brands constitute 37% of a company’s market capitalization

• Strong brands outperform the market with less risk (beta = 0.85)

• Strong brands outperform the market on most financial ratios

Madden, Fehle and Fournier, May 2002

What matters to the CEO/board?

• How much does branding matter in our industry context?

• How strong is our brand – locally, regionally and internationally?

• How do we measure and track the brand equity and the financial brand value?

• How do we maximize the brand’s contribution to the overall success of the business?

• Need for a cross-functional and metrics driven approach to brand management

• Elevate the branding discipline into the boardroom

• Need for a cross-functional and metrics driven approach to brand management

• Elevate the branding discipline into the boardroom

Branding

Design and innovation

Low cost/ High perceived value

Value as sales driver

Long-term financial focus

Branding in boardrooms

Organisation drives the brand

Brand equity

Branding as strategic investment

(Balance sheet)

Manufacturing

Production

Low cost/ Low perceived value

Price as sales driver

Short-term financial focus

Branding in marketing function

A function drives the brand

Market share

Marketing as cost

(Profit & Loss statement)

ToFrom

New paradigm for Asia

Branding starts in the boardroom

Mindsets & beliefsMindsets & beliefs

SkillsSkills

ResourcesResources

Branding starts in the boardroom

The Asian brand challenge no. 1: Lack of imagination and calculated risk taking

Just do itAnything is possible

Divert and differentiate

Brand Associations

• Functional

• Emotional

Brand Awareness

• Recognition

• Unaided recall

• Aided recall

• Top-of-mind recall

Knowledge metrics Financial metricsPreference metrics

• Market share

• Price premium

• Revenue

• Transaction value

• Lifetime value

• Growth rate

• Familiarity

• Consideration

• Purchase

• Usage

• Loyalty

Brand Equity Model

• Make the brand resonate and bring it to life by building powerful and identifiable stories around the brand

Weave powerful brand stories

• Involve various “societal authors” to weave stories of the brand to the consumers

Involve story tellers

• Enrich the brand with personality and value to enable it to perform any myth the society demands at a given historical moment

Create an identity myth

ContentComponent

Components of an iconic brand

Singapore Girl is launched in 1973

Source: SIA

Branding ExcellenceTM

Characteristics:

1. Brand Promise and Brand Delivery are equally balanced and leveraged

2. Uniqueness and differentiation are key drivers

3. Consistency across products, markets, organisations and cultures

4. Strong brand management systems and processes in place

5. Board and top-management are deeply engaged and committed

• Attributes, benefits and values

• Organisation and distribution

• Brand Image

• Brand Essence

• Brand Identity

• Brand Position

B. Brand DeliveryA. Brand Promise

Strong brands have 2 basic components

Post-salesphase

Salesphase

Retentionphase

Pre-salesphase

Marketing campaignsWord-of-mouthTravel agentsCompany policyPast experiencesSales officeWebsite

RequestsMilage programCustomer serviceSpecial offersRelationship programCustomer satisfaction surveys

Call centerTicket office

Check-inLounge

BoardingIn-flight

Re-bookingLuggage handling

ComplaintsTransportation

Accommodation

Brands as financial assets

“Fully engaged customers deliver 23% premium over the average customer in terms of share of wallet, profitability,

revenue and relationship growth”.

Harvard Business ReviewJuly-August 2005

1. The CEO needs to lead the brand strategy work

2. Build your own model as not every model suits all

3. Involve your stakeholders including the customers

4. Advance the corporate vision

5. Exploit new technology

6. Empower people to become brand ambassadors

7. Create the right delivery system

8. Communicate!

9. Measure the brand performance

10.Adjust regularly – be your own change agents

10 steps to build and maintain brand leadership

Weblog on Asian branding

Case stories on Asian brands

Free chapters in PDF format

www.asianbrandstrategy.com

Contact details

VentureRepublic Pte Ltd

Level 21, Centennial Tower

3 Temasek Avenue

Singapore 039190

Phone: +65 65 49 71 41

Fax: +65 65 49 70 01

Mobile: +65 91 26 35 04

roll@venturerepublic.com www.venturerepublic.com

Create and Maintain Brand Leadershippds5.egloos.com/pds/200703/11/53/asian brand strategy - martin...

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