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In today's competitive business landscape, a strong ...
SMM491 Brand Management and Communication Strategies Week 2 Lecture
Notes
Brand Strategy
A brand strategy is a long-term plan that will allow a brand to achieve specific
goals. Through the rigorous application of consumer insight it defines the core
purpose, the unique emotional and functional benefits and the ideal consumer
responses that the brand wishes to evoke.
Brand Management
o This is an activity concerned with the planning, development and
implementation of the tactics that execute a brand strategy.
o The role of the brand manager is to drive Brand Distinctiveness (rather
than Differentiation)
Tactics
o Tactics include; product and service changes, design changes,
advertising campaigns, new customer experiences, improved store
layouts, service procedures or pricing decisions.
A brand strategy is the most macro-level formal ‘specification’ of the brand, its
key elements, and its position in the market.
High involvement brand offer almost identical functional (enabling) benefits
and face fierce competition.
Distinctive assets can be developed in many different ways to allow a brand to
build stronger ‘memory structure’ than the competition.
Competition
o Challenger brands can rise quickly by acknowledging cultural change
and exhibiting purpose, while large players struggle.
o Brands emerge based on enticement benefits (gratified) in commodity
categories instead of enabling benefits and competing on price.
o Brands emerge based on enrichment benefits (influence) in categories
that previously relied mostly on enabling and enticing benefits.
o Brand loyalty and relevance is low for most brands.
Consumers
o Consumers are becoming more independent and disconnected at the
same time, as well as more conscious and ageless.
Culture
o Brands pursuing a higher purpose beyond making more money is
becoming more relevant for consumers.
o Brands becoming more conscious of reflecting significant cultural
shifts.
Media
o Brands are forced to comply with rules and constraints imposed by
‘FANG’ organisations
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