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Summary The Foundations of Marketing Practice, MPR22

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CHAPTER 1: A BALANCED PERSPECTIVE ON BRANDS................................................ 8 1 BRAND DEFINITION ........................................................................................................ 8 1.1 BRAND ELEMENTS ............................................................

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  • July 28, 2021
  • 64
  • 2020/2021
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MARKETING
PRACTICE
MPR22




Cailin du Preez

Chapter 1- | Chapter 13
pg. 1

, TABLE OF CONTENTS

CHAPTER 1: A BALANCED PERSPECTIVE ON BRANDS ................................................ 8
1 BRAND DEFINITION ........................................................................................................ 8
1.1 BRAND ELEMENTS .................................................................................................... 8
1.2 CHOOSING BRAND ELEMENTS (IDENTIFY THESE BRANDS) ........................ 8
1.3 THEMES IN BRAND ELEMENTS ......................................................................... 9
1.4 WHAT IS A BRAND ............................................................................................... 9
1.5 TYPES OF BRANDS ........................................................................................... 10
1.6 BRANDS AS STRATEGIC ASSESTS- BRANDASSETVALUATOR-
MEASURES BRAND VALUE .............................................................................. 10
1.7 BRANDS AS STRATEGIC ASSESTS- BRANDASSETVALUATOR-
MEASURES BRAND VALUE .............................................................................. 11
1.8 BRANDS FROM THE PERSPECTIVE OF SOCIETY ......................................... 11
1.9 ORIENTATION TO BRAND BUILDING ............................................................... 11
1.10 THE PURPOSE OF BRAND BUILDING ............................................................. 12
1.11 BRAND LEADERSHIP= BRAND MANAGEMENT .............................................. 12
2 CHAPTER 2: BRAND EQUITY AND BRAND VALUATION ...................................... 13
2.1 BRAND EQUITY: AAKER VS KELLER VS AMBLER ......................................... 13
2.2 BRAND EQUITY .................................................................................................. 13
2.3 BENEFITS OF STRONG BRAND EQUITY ......................................................... 14
2.4 BENEFITS OF CREATING A STRONG BRAND WITH EQUITY ........................ 14
2.5 BUILDING BRAND EQUITY: BRAND EQUITY PYRAMID ................................. 14
2.6 MEASUREMENT OF BRAND EQUITY ............................................................... 15
2.7 BRAND VALUATION ........................................................................................... 16
3 CHAPTER 13: DEVELOPING A BRAND DASHBOARD .......................................... 17
3.1 THE AGE OF ACCOUNTABILITY ....................................................................... 17
3.2 BRAND VALUE CHAIN ...................................................................................... 17
3.3 BRAND TRACKING METRICS AND MODELS – HOW? .................................... 17
3.4 MILWARD BROWN ............................................................................................. 18
3.5 BRANDASSETVALUATOR (BAV): POWERGRID FROM YOUNG &
RUBICAM ............................................................................................................ 18
3.6 THE CONVERSION MODEL FROM TNS ........................................................... 19
3.7 THE PROPHET BRAND EQUITY MODEL FROM PROPHET ........................... 19
3.8 AAKERS TOP TEN MEASURES OF BRAND EQUITY ...................................... 20
3.9 CONCLUSION ON BRAND TRACKING METRICS AND MODELS ................... 20
pg. 2

, 3.10 DEVELOPING A BRAND EQUITY METRIC SYSTEM ....................................... 20
3.11 BRAND EQUITY BE VS CUSTOMER EQUITY CE ............................................ 21
4 CHAPTER 3: BRAND IDENTITY AND DEVELOPMENT .......................................... 22
BRAND DEFINITION: ..................................................................................................... 22
4.1 THE CONCEPT OF BRAND IDENTITY .............................................................. 22
4.2 3 QUESTIONS CRITICAL QUESTIONS ............................................................. 23
4.3 BRAND IDENTITY SYSTEM ............................................................................... 23
4.4 THE PURPOSE OF A BRAND IDENTITY SYSTEM ........................................... 23
4.5 THE PROPERTIES OF THE BRAND IDENTITY SYSTEM ................................ 23
4.6 BRAND VISION ................................................................................................... 24
4.7 BRAND PURPOSE AND POSITIONING STATEMENT ...................................... 24
4.8 BRAND PERSONALITY ...................................................................................... 24
4.9 BRAND VALUES ................................................................................................. 24
4.10 MANTRA AND TAGLINE ..................................................................................... 25
4.11 THE BRAND’S VISUAL AND VERBAL LANGUAGE .......................................... 25
5 CHAPTER 4: BRAND DIFFERENTIATION AND POSITIONING.............................. 26
5.1 TODAYS CONSUMER ........................................................................................ 26
5.2 DIFFERENTIATION AND POSITIONING ........................................................... 26
5.3 NATURE AND IMPORTANCE OF DIFFERENTIATION ..................................... 26
5.4 THE LINK BETWEEN DIFFERENTIATION AND POSITIONING ....................... 26
5.5 THE FOUR STEPS OF POSITIONING ............................................................... 26
5.6 THE FOUR STEPS OF POSITIONING:STEP 1: MAKE SENSE IN THE
CONTEXT ............................................................................................................ 27
5.7 THE FOUR STEPS OF POSITIONING: STEP 2: FIND THE
DIFFERENTIATING IDEA ................................................................................... 27
5.8 THE FOUR STEPS OF DIFFERENTIATION: STEP3: HAVE THE
CREDENTIALS .................................................................................................... 27
5.9 THE FOUR STEPS OF DIFFERENTIATION: STEP4: COMMUNICATE
YOUR DIFFERENCE .......................................................................................... 27
5.10 BRAND POSITIONING ........................................................................................ 27
5.11 ELEMENTS OF A POSITIONING CONCEPTS .................................................. 28
5.12 DEFINING AND ESTABLISHING BRAND MANTRAS ........................................ 28
5.13 POSITIONING GUIDELINES .............................................................................. 28
5.14 DEFINING AND COMMUNICATING COMPETITVE FRAME OF
REFERENCE ....................................................................................................... 29
5.15 CHOOSING AND ESTABLISHING POINTS OF PARITY AND POINTS OF
DIFFERENCE ...................................................................................................... 29
pg. 3

, 5.16 THE PROCESS OF POSITIONING .................................................................... 29
5.17 IDENTIFICATION AND ANALYSIS OF COMPETITIVE BRANDS ...................... 30
5.18 IDENTIFICATION AND MEASUREMENT OF SIGNIFICANT
DETERMINANT ATTRIBUTES ........................................................................... 30
5.19 IDENTIFICATION OF BRAND’S CURRENT POSITION ..................................... 30
5.20 CREATION OF A PERCEPTUAL/POSITIONING MAP ...................................... 30
5.21 DETERNMINATION OF THE DESIRED POSITION OF THE BRAND ............... 31
5.22 SELECTION OF POSITIONING OR REPOSITIONING STRATEGIES .............. 31
5.23 POSITIONING STRATEGIES ............................................................................. 31
6 CHAPTER5: CHOOSING A NAME FOR A STRONG BRAND ................................. 32
6.1 BRAND RELATIONSHIP SPECTRUM ................................................................ 32
6.2 THE MONOLITHIC BRAND STRUCTURE ......................................................... 32
6.3 THE MULTILITHIC STRUCTURE ....................................................................... 33
6.4 REASONS TO USE A HOUSE OF BRAND STRATEGY .................................... 34
6.5 CONSIDERATIONS IN THE CHOICE OF A BRAND NAME .............................. 34
6.6 A CLASSIFICATION OF BRAND NAMES (TYPES) ........................................... 34
6.7 DECIDING ON THE BRAND NAME .................................................................... 35
6.8 REASONS TO CHANGE BRAND NAME ............................................................ 36
7 CHAPTER 6: BRAND CONTACT PLANNING AND MANAGEMENT ....................... 37
7.1 NATURE OF BRAND CONTACT ........................................................................ 37
7.2 BRAND CONTACT PLANNING AND MANAGEMENT ....................................... 37
7.3 THE MINDSET OF BRAND CONTACT PLANNING AND MANAGEMENT ........ 37
7.4 CONTACT COHESION AND THE ROLE OF THE BRAND IDENTITY
SYSTEM .............................................................................................................. 37
7.5 BRAND CONTACT PLANNING PROCESS ........................................................ 38
7.5.1 Phase 1: the brand contact inventory ......................................................................... 38
7.5.2 Phase 2: identifying the primary brand contact patterns ............................................ 38
7.5.3 Phase 3: identifying the most influential points of brand contact .............................. 38
7.5.4 Phase 4: developing a strategy for brand contact cohesion ....................................... 38
7.5.5 Phase 5: developing a management model for brand contact cohesion ..................... 39
8 CHAPTER 7: SUPPORTING BRANDS THROUGH MARKETING
COMMUNICATION.................................................................................................... 40
8.1 MARKETING COMMUNICATION AND BRANDING ........................................... 40
8.2 IMC AND BRAND ORIENTATION ...................................................................... 40
8.2.1 Brand orientation has four components: .................................................................. 40
8.2.2 Brand orientation consists of 6 elements, in the context of IMC: ............................. 40

pg. 4

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