Branding: Taking Action · Source: Interbrand 2018. Your Brand: Combining short term actions for...
Transcript of Branding: Taking Action · Source: Interbrand 2018. Your Brand: Combining short term actions for...
Branding: Taking ActionEstablishing a Brand Identity10/4/2018
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Interactive Discussion
▪Please go to www.rwpoll.com on your smartphone
▪ Enter the session ID 591173 , then put in a name and email
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Your brand speaks for you and drives value
4Source: Aaker, 2000, 2013
Brand Loyalty
▪ Reduced marketing costs
▪ Competitive threat buffer
▪ Recurring business/leverage
Brand Awareness
▪ Visibility drives consideration
▪ Familiarity drives liking
▪ Enables additional activities
Brand Associations
▪ Enables communication
▪ Differentiation/Positioning
▪ Drives purchase
Perceived Quality
▪ Pricing enablement
▪ Reason to buy/Leadership role
Brand Equity
What comes to mind when you see this brand logo?
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Rank Responses
1 MLB
2 SUMMER
3 AMERICA
4 AMERICAN
5 SUMMERTIME
6 Other
Cooperatives/Agriculture/Feed
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8Source: Interbrand 2018
Your Brand: Combining short term actions for long term value
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Branding
The process of creating and
managing the associations
that generate images and
feelings about a brand
Brand
The set of associations that
identify a product, service
or company linked to a
name, mark or symbol
Desired Outcome: tangible action plan around your brand
How can we take action and apply this to coops and ag?
10Source: Aaker, Keller
Method
1. Conduct Brand Audit
2. Establish Brand Identity
3. Reaffirm Brand Image
4. Grow Business
5. Repeat
Goal1. Differentiation
2. Consistency
3. Relevancy
4. Development/Adaptation
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Brand Audit
Why do I need to audit my brand?
▪ Purpose:
▪ To assess the health of the brand
▪ Uncover a brand’s sources of brand equity
▪ Suggest ways to improve and leverage its equity
▪ Elements:
▪ Brand Definition
▪ Brand Inventory
▪ Brand Recommendations
▪ There’s 3 versions of your brand right now:
▪ How others view you (Brand Image)
▪ How you view yourself (Brand Identity)
▪ How you really are
12Source: Aaker 2000, Keller 2000
Brand Definition: Understanding how your brand is perceived
▪ Approach can range in cost and time depending on what is needed
13Source: Aaker 2000, Keller 2000
Qualitative
▪ Focus Groups
▪ In depth Interviews
▪ Collages/Brand Concept Maps
Quantitative
▪ Surveys (n>30)
1. Describe your product and why customers choose it
▪ Differentiation vs competitors, product portfolio
2. Things that trigger the identity
▪ Unaided and aided awareness
3. Personal associations/memories
4. Feelings and emotions
▪ Consistent themes with customers’ connection to brand
5. Core Values
▪ Employee alignment, consistency, boundaries
6. Occasions
▪ Ideal and inappropriate product usage
7. Personality
▪ Brand human characteristics and behavior
8. Support
▪ Facts or symbols that enable trust or are unique
Brand Definition in practice: Brand Image
14Source: Purina internal documents
Brand as
Symbol(Imagery/Heritage)
Brand as
Person(Personality)
Brand as
Product(Scope, Features,
Attributes,
Quality)
Brand as
Product(Product Uses)
How Brand
Makes Me
Look
How Brand
Makes Me Feel
Functional
Benefits
Emotional
Benefits
Pride
Smart
Part of the
legacy
Ready
when
you
are
Responsive
Farm/Ag
Easy to use
Get ‘er doneQuick
Response
Fair minded
Logo
Tractor
Green/Yellow
Nothing runs
like a Deere
Honorable
Integrity
Enduring
Quality
Core
Stay Running
Machine
Heritage
Value
Quality
Leader
Effective
Responsible
steward of the
land
Brand Inventory: Connecting perception to business strategy
Brand Inventory Questions Coop Application
1. What does the brand offer?
▪ What products/services are offered under the brand? Agronomy/Feed/Grain/Energy/Building Supplies
▪ What is the brand architecture? All under one brand or multiple
2. How has the brand been built?
▪ How have the 4 P’s been utilized? Product/Price/Placement/Promotion
▪ What brand elements are stressed? Functional vs Emotional
3. How has the brand been leveraged?
▪ Brand extensions? Co-branding? Alliances? Consolidation and communication of brand
4. Has the brand been protected or diluted?
▪ Too many extensions? Product or services brand names
▪ Efforts to protect the brand? Legal/Social/Media/Training
15Source; Keller 2000
Brand Recommendations: Business decisions based on branding
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Leveraging▪ New ways to leverage
the brand
▪ Opportunities for brand
extensions and co-
branding
Protecting
▪ Drop some
extensions/alliances
▪ Respond better to
brand crises
Building▪ Change the
products/services
offered
▪ Change the way the
brand is communicated
▪ Change the brand
architecture
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Establishing Brand Identity
Utilize the foundation that you’ve built to be forward looking
Brand Identity
1. STP Analysis
▪ Segmentation
▪ Targeting
▪ Positioning
2. Select Brand Identity Elements
▪ POP: Points of parity
▪ POD: Points of differentiation
3. Structure Brand Identity
▪ Core Brand Associations
▪ Secondary Brand Associations
18Source: Keller, Sternthal, & Tybout 2002
Brand Definition
Brand Inventory
Brand
Recommendations
Clarify how you will communicate your brand to your customer
▪ Segmentation
▪ How is the market segmented?
▪ Geographic
▪ Demographics/Usage
▪ Benefits Desired
▪ Lifestyle/Psychographic
▪ Targeting
▪ What market segments do competitors serve?
▪ Which segments will we serve?
▪ Positioning
▪ What do we stand for?
▪ How are we different from other brands?
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Segment 1
Old School Joe
Segment 2
Tech Savvy NextGen
Segment 3
Savvy Businessman
Geography Statewide Northeast, Southeast Southern half
Operation Size Medium Small Large
Age (avg) 55 35 45
n 100 25 75
Growth Plans None High Growth Moderate
Tech Savvy NextGen
▪ Less competition for this segment
▪ More easily reached due to geography
▪ Less spend per customer/conversion
▪ More risk; less established
Considerations
▪ Likely higher service requirements early on
▪ CFT engagement to ensure customer acquisition
▪ Differentiation? Product or service?
▪ Payoff: brand loyalty
Select Brand Identity Elements
▪ POP: Points of Parity
▪ Associations that are not necessarily unique to the brand
▪ Consumers view as necessary to be a legitimate and credible offering within a product or service category
▪ POD: Points of Differentiation
▪ Strong, favorable, and unique brand associations
▪ Differentiate your brand from competitors
▪ Can be attributes, benefits, emotions, symbols
▪ Example:
▪ Which is a POP? Which is a POD?
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Points of Parity?
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Rank Responses
1 FOOD
2 591173
3 CLEAN
4 CLEANLINESS
5 DRINKS
6 Other
Points of Difference?
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Rank Responses
1 ATMOSPHERE
2 MUSIC
3 VARIETY
4 BETTER QUALI...
5 COST
6 Other
Points of Differentiation: choosing wisely
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Desirability Criteria
▪ Relevance
▪ Is the POD personally relevant and important?
▪ Distinctiveness
▪ Is it distinctive & superior?
▪ Believability
▪ Is it believable & credible to consumers?
Deliverability Criteria
▪ Feasibility
▪ Can the product perform at the level stated?
▪ Communicability
▪ Can it be communicated?
▪ Sustainability
▪ Is it difficult to attack or copy?
▪ Can it be sustained over time?
What do you want your brand to stand for?
▪ Structure Brand Identity to drive the ideal brand image
▪ Core Brand Associations
▪ Most Important Points of Differentiation
▪ Most Important Points of Parity
▪ Reflects Brand’s Positioning
▪ Secondary Brand Associations
▪ Important Points of Differentiation
▪ Important Points of Parity
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Brand
Essence
Core
Extended
Brand Framework puts Brand Identity into practice
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Beliefs
Strategy
Experience
Brand Purpose
Brand Ambition
Why we exist
Future aspiration; Where do we want the brand to be in 5 years?
Brand DeliversWhat will our audience experience and feel whenever they interact with the
brand?
Who is the brand? Who is the audience?
Growth Audience
Insight
Descriptive psychographic
segment
A clear articulation of a
deep and unrevealed
behavior; motivation or
belief that can be leveraged
to unlock growth
Who are we fighting
against?
Frame of Reference
Who/what is the brand’s
competitive set (category or
product) OR arch enemy?
Our Conviction
Assets
Personality
What we’ll fight for on
behalf of our customer;
beliefs that we live by
~3 assets/values that
uniquely represent the
brand
~3 ownable characteristics
or personality traits
Business decisions to support branding
▪ Planning and Goal Setting▪ Annual planning with quarterly check ins
▪ State goals for brand utilizing SMART format
▪ Budgets▪ Clarify up front the spend breakdown to support branding
▪ Communications/Channels▪ This is KEY!! Ensure communication of brand is differentiated, consistent, relevant, and adaptable
▪ Review all aspects (print/radio/email/signage/website/social/digital ads/employees)
▪ Identify areas of strength and weakness and clarify areas of opportunity
▪ Products▪ SKU rationalization/branding opportunities/promotional activity; pricing
▪ Services▪ Identify which are core, profitable, cost inhibitive, value add, and sustainable; pricing
▪ Relationships/contracts/partnerships▪ Recognize you can’t do everything yourself and ID partners as necessary
26Source: Smarter, Faster, Better (Duhigg), Purina Planning Process
Continue your great work in building your brands!
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