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business
strategic management 5th
Strategic Brand Management Building Measuring And Managing Brand Equity 5th Edition Kevin Lane Keller , Vanitha Swaminathan - Solutions
Summarize how consumers evaluate extensions and how extensions contribute to parent brand equity.
Outline the key assumptions and success criteria for brand extensions.
Does the parent brand have strong equity?
Is there a strong basis of extension fit?
Will the extension have necessary points-of-parity and points-of-difference?
How can marketing programs help enhance extension equity?
What implications will the extension have on parent brand equity and profitability?
How should feedback effects best be managed?
Define actual and desired consumer knowledge about the brand (e.g., create a mental map and identify key sources of equity).
Identify possible extension candidates on the basis of parent brand associations and overall similarity or fit of extension to the parent brand.
Evaluate the potential of the extension candidate to create equity according to the three-factor model:• Salience of parent brand associations• Favorability of inferred extension associations• Uniqueness of inferred extension associations
Evaluate extension candidate feedback effects according to the four-factor model:• How compelling the extension evidence is• How relevant the extension evidence is• How consistent the extension evidence is• How strong the extension evidence is
Consider possible competitive advantages as perceived by consumers and possible reactions initiated by competitors.
Design marketing campaign to maximize the likelihood of success and potential positive feedback effects.
Evaluate extension success and effects on parent brand equity.
Pick a brand extension. Use the models presented in the chapter to evaluate its ability to achieve its own equity as well as contribute to the equity of a parent brand. If you were the manager of that brand, what would you do differently?
Do you think Virgin’s brand is overextended? What are the arguments for or against?
How successful do you predict these recently proposed extensions will be? Why?a. Mont Blanc (famous for pens): fragrances and other accessories (watches, cufflinks, sunglasses, and pocket knives)b. Evian (famous for water): high-end spasc. Starbucks (famous for coffee): film production and
Consider the following brands, and discuss the extendibility of each:a. Harley-Davidsonb. Red Bullc. Tommy Hilfigerd. Whole Foodse. Netflixf. U.S. Marines g. Grey Goose Vodka h. LEGO i. BlackBerry j. Las Vegas k. Kate Spade l. Game of Thrones m. ESPN
Understand the important considerations in brand reinforcement.
Describe the range of brand revitalization options available to a company.
Outline the various strategies to improve brand awareness and brand image.
Define the key steps in managing a brand crisis.
Pick a brand. Assess its efforts to manage brand equity in the last five years. What actions has it taken to be innovative and relevant? Can you suggest any changes to its marketing program?
Pick a product category. Examine the histories of the leading brands in that category over the last decade. How would you characterize their efforts to reinforce or revitalize brand equity?
Try to think of additional examples of brands that adopted either a back-to-basics or a reinvention revitalization strategy. How well did the strategies work?
Choose a brand that has recently experienced a marketing crisis. How would you evaluate the marketers’ response? What did they do well? What did they not do well? How did the company utilize social media to control the crisis incident? Which of the recovery approaches used by the company worked
Understand the six future brand imperatives.
Identify the ten criteria for the brand report card.
Outline the seven deadly sins of brand management.
_________________ Managers understand what the brand means to consumers.
Have you created detailed, research-driven mental maps of your target customers?
Have you attempted to define a brand mantra?
Have you outlined customer-driven boundaries for brand extensions and guidelines for marketing programs?
_________________ The brand is properly positioned.
Have you established category, competitive, and correlational points-of-parity?
Have you established desirable, deliverable, and differentiated points-of-difference?
_________________ Customers receive superior delivery of the benefits they value most.
Have you attempted to uncover unmet consumer needs and wants?
Do you relentlessly focus on maximizing your customers’product and service experiences?
_________________ The brand takes advantage of the full repertoire of branding and marketing activities available to build brand equity.
Have you strategically chosen and designed your brand name, logo, symbol, slogan packaging, signage, URL, and other brand elements to build brand awareness and image?
Have you implemented integrated push and pull strategies that target intermediaries and end customers, respectively?
_________________ Marketing and communications efforts are seamlessly integrated (or as close to it as humanly possible). The brand communicates with one voice.
Have you considered all the alternative ways to create brand awareness and link brand associations?
Have you ensured that common meaning is contained throughout your marketing communication program?
Have you capitalized on the unique capabilities of each communication option?
Have you been careful to preserve important brand values in your communications over time?
Have you leveraged digital and social media channels optimally to communicate your intended message to the target audience?
Have you utilized the capabilities of mobile marketing to communicate with your desired target audience at a time, place, and manner that are most appropriate?
_________________ The brand’s pricing strategy is based on consumer perceptions of value.
Have you estimated the added value perceived by customers?
Have you optimized price, cost, and quality to meet or exceed consumer expectations?
_________________ The brand uses appropriate imagery to support its personality.
Have you established credibility by ensuring that the brand and the people behind it are seen as expert, trustworthy, and likable?
Have you established appropriate user and usage imagery?
Have you crafted the right brand personality?
_________________ The brand is innovative and relevant.
Have you invested in product and marketing improvements that provide improved benefits and better solutions for your customers?
Have you stayed up-to-date and in touch with your customers?
_________________ For a multiproduct, multibrand company, the brand architecture is strategically sound.
For the brand hierarchy, are associations at the highest levels relevant to as many products as possible at the next lower levels, and are brands well-differentiated at any one level?
For the brand portfolio, do the brands maximize market coverage while minimizing their overlap at the same time?
_________________ The company has a system in place to monitor brand equity and performance.
Have you created a brand charter that defines the meaning and equity of the brand and how it should be treated?
Do you conduct periodic brand audits to assess the health of your brands and to set strategic direction?
Do you conduct routine tracking studies to evaluate current marketing performance?
Do you regularly distribute brand equity reports that summarize all brand-relevant research and information to assist marketing decision making?
Have you assigned people within the organization the responsibility of monitoring and preserving brand equity?
What do you think makes a strong brand? Can you add any criteria to the list provided?
Consider the deadly sins of brand management. Do you see anything missing from the list of seven in Figure 16-8?
Pick one of the special applications of branding and choose a representative brand within that category. How well do the five guidelines for that category apply? Can you think of others not listed?
What do you see as the future of branding? How will the roles of brands change? What different strategies might emerge for building, measuring, and managing brand equity in the coming years? What do you see as the biggest challenges? How have the advent of social media and the availability of
Define “brand,” state how brand differs from a product, and explain what brand equity is.
Summarize why brands are important.
Explain how branding applies to virtually everything.
Describe the main branding challenges and opportunities.
Identify the steps in the strategic brand management process.
What do brands mean to you? What are your favorite brands and why? Check to see how your perceptions of brands might differ from those of others.
Who do you think has the strongest brands? Why? What do you think of the Interbrand list of the 25 strongest brands in Figure 1-5? Do you agree with the rankings? Why or why not?
Can you think of anything that cannot be branded? Pick an example that was not discussed in each of the categories provided (services; retailers and distributors; people and organizations;sports, arts, and entertainment) and describe how each is a brand.
Define customer-based brand equity.
Outline the sources and outcomes of customer-based brand equity.
Identify the four components of brand positioning.
Describe the guidelines in developing a good brand positioning.
Explain brand mantras and how they should be developed.
What do you think of the brand values pyramid suggested by Bain & Company consultants in The Science of Branding 2-1? How would you apply the framework to a particular brand? Do you think this set of elements yields any unique insights relative to the traditional Maslow’s hierarchy of needs?
Define brand resonance.
Describe the steps in building brand resonance.
Define the brand value chain.
Identify the stages in the brand value chain.
Contrast brand equity and customer equity.
Pick a brand. Assess the extent to which the brand is achieving the various benefits of brand equity.
Can you think of digital platforms (such as TripAdvisor, Airbnb) that have built a strong brand presence? Can you identify key factors contributing to their success?
Describe some of the changes in the new media environment.
Outline the major marketing communication options.
Describe some of the key tactical issues in evaluating different communication options.
Identify the choice criteria in developing an integrated marketing communication program.
Explain the rationale for mixing and matching communication options.
Pick a brand and gather all its marketing communication materials. How effectively has the brand mixed and matched marketing communications? Has it capitalized on the strengths of different media and compensated for their weaknesses at the same time? How explicitly has it integrated its
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