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1、8.1,CHAPTER 8:DEVELOPING A BRAND EQUITY MEASUREMENT AND MANAGEMENT SYSTEM,Kevin Lane KellerTuck School of BusinessDartmouth College,8.2,The New Accountability,Virtually every marketing dollar spent today must be justified as both effective and efficient in terms of“return of marketing investment”(RO
2、MI).Some observers believe that up to 70%(or even more)of marketing expenditures may be devoted to programs and activities that cannot be linked to short-term incremental profits,but yet can be seen as improving brand equity.,8.3,The Brand Value Chain,Broader perspective than just the CBBE model The
3、 brand value chain is a structured approach to assessing the sources and outcomes of brand equity and the manner by which marketing activities create brand value.,Brand Value Chain,ProgramMultiplier,MarketingProgramInvestment,CustomerMindset,MarketPerformance,ShareholderValue,VALUESTAGES,-Product-Co
4、mmunications Trade Employee-Other,-Awareness-Associations-Attitudes-Attachment-Activity,-Price premiums-Price elasticity-Market share-Expansion success-Cost structure-Profitability,-Stock price-P/E ratio-Market capitalization,ConsumerMultiplier,FILTERS,Clarity Relevance-Distinctiveness-Consistency,-
5、Channel support Consumer size and profile Competitive reactions,Market dynamics Growth potential Risk profile Brand contribution,MarketMultiplier,8.5,Value Stages,Marketing program investmentAny marketing program that can be attributed to brand value developmentCustomer mindsetIn what way have custo
6、mers been changed as a result of the marketing program?Market performanceHow do customers respond in the marketplace?Shareholder value,8.6,Multipliers,Program quality multiplierThe ability of the marketing program to affect customer mindsetMust be clear,relevant,distinct,and consistentCustomer multi
7、plierThe extent to which value created in the minds of customers affects market performanceIt depends on factors such as competitive superiority,channel support,and customer size and profileMarket multiplierThe extent to which the value generated through brand market performance is manifested in sha
8、reholder valueIt depends on factors such as market dynamics,growth potential,risk profile,and brand contribution,8.7,Brand Equity Measurement System,A set of research procedures that is designed to provide timely,accurate,and actionable information for marketers so that they can make the best possib
9、le tactical decisions in the short run and strategic decisions in the long run,8.8,Brand Equity Measurement System,Conducting brand auditsDeveloping tracking proceduresDesigning a brand equity management system,8.9,Designing Brand Tracking Studies,Tracking studies involve information collected from
10、consumers on a routine basis over timeOften done on a“continuous”basisProvide descriptive and diagnostic information,8.10,What to Track,Customize tracking surveys to address the specific issues faced by the brandProduct-brand trackingCorporate or family brand trackingGlobal tracking,8.11,How to Cond
11、uct Tracking Studies,Who to track(target market)When and where to track(how frequently)How to interpret brand tracking,8.12,Brand Equity Management System,A brand equity management system is a set of organizational processes designed to improve the understanding and use of the brand equity concept w
12、ithin a firm:Brand equity charterBrand equity reportBrand equity responsibilities,8.13,Brand Equity Charter,Provides general guidelines to marketing managers within the company as well as key marketing partners outside the companyShould be updated annually,8.14,Brand Equity Charter Components,Define
13、 the firms view of the brand equityDescribe the scope of the key brandsSpecify actual and desired equity for the brandExplain how brand equity is measuredSuggest how brand equity should be measuredOutline how marketing programs should be devisedSpecify the proper treatment for the brand in terms of
14、trademark usage,packaging,and communication,8.15,The Knicks,The Fans,The Knicks Brand Charter,Emotional Bond,Uniquely authenticAn incomparable event,scene and energyRelentless,resourceful,and toughChampionship caliberA vital part of New York CityUnlimited in its possibilities,Sensory fulfillmentLook
15、s,feels,and soundsVisceral thrill Eager anticipation/excitement War:winning/losingPsychological benefits Personal identification(with heroes)Social currency/belongingEmotional awards Intense experience Childhood Sustaining Exceeds,An intensely passionate,professional,unparalleled New York City exper
16、ience,8.16,Brand Equity Report,Assembles the results of the tracking survey and other relevant performance measuresTo be developed monthly,quarterly,or annuallyProvides descriptive information as to what is happening with the brand as well as diagnostic information on why it is happening,8.17,Brand
17、Equity Responsibilities,Organizational responsibilities and processes that aim to maximize long-term brand equityEstablish position of VP or Director of Equity Management to oversee implementation of Brand Equity Charter and ReportsEnsure that,as much as possible,marketing of the brand is done in a
18、way that reflects the spirit of the charter and the substance of the report,8.18,CHAPTER 9:MEASURING SOURCES OF BRAND EQUITY:CAPURING CUSTOMER MINDSET,Kevin Lane KellerTuck School of BusinessDartmouth College,8.19,Qualitative Research Techniques,Free associationWhat do you like best about the brand?
19、What are its positive aspects?What do you dislike?What are its disadvantages?What do you find unique about the brand?How is it different from other brands?In what ways is it the same?,8.20,Free Associations,LEVIS501,High quality,long lasting,and durable,Blue denim,shrink-to-fit cotton fabric,button-
20、fly,two-horse patch,and small red pocket tag,Feelings of self-confidenceand self-assurance,Comfortable fittingand relaxing to wear,Honest,classic,Contemporary,approachable,independent,and universal,Appropriate for outdoorwork and casual socialsituations,Western,American,blue collar,hard-working,trad
21、itional,strong,rugged,and masculine,BENEFITS,ATTRIBUTES,Symbolic,Usage Imagery,User Imagery,Brand Personality,Functional,Product-Related,Experiential,8.21,Qualitative Research Techniques,Projective techniquesDiagnostic tools to uncover the true opinions and feelings of consumers when they are unwill
22、ing or otherwise unable to express themselves on these matters,8.22,Projective Techniques,Consumers might feel that it would be socially unacceptable to express their true feelingsProjective techniques are diagnostic tools to uncover the true opinions and feelings of consumersExamples:Completion and
23、 interpretation tasksComparison tasks,8.23,New approach:ZMET,Zaltman Metaphor Elicitation Technique(ZMET)ZMET is“a technique for eliciting interconnected constructs that influence thought and behavior.”,8.24,ZMET,The guided conversation consists of a series of steps that includes some or all of the
24、following:Story tellingMissed imagesSorting taskConstruct elicitationThe most representative pictureOpposite imagesSensory imagesMental mapSummary imageVignette,8.25,Brand Personality and Values,Brand personality refers to the human characteristics or traits that can be attributed to a brand.The Big
25、 FiveSincerity(down-to-earth,wholesome,and cheerful)Excitement(daring,spirited,imaginative,and up-to-date)Competence(reliable,intelligent,and successful)Sophistication(upper class and charming)Ruggedness(outdoorsy and tough)Jennifer Aaker,1997,8.26,Identifying Key Brand Personality Associations,BUSH
26、KERRYCoffeeDunkin DonutsStarbucksTechnologyIBMAppleAutoFordBMWRetailKmartTargetFast FoodMcDonaldsSubway,2004 U.S.presidential election,random sample of undecided voters,8.27,Experiential Methods,By tapping more directly into their actual home,work,or shopping behaviors,researchers might be able to e
27、licit more meaningful responses from consumers.Advocates of the experiential approach have sent researchers to consumers homes in the morning to see how they approach their days,given business travelers Polaroid cameras and diaries to capture their feelings when in hotel rooms,and conducted“beeper s
28、tudies”in which participants are instructed to write down what theyre doing when they are paged.,8.28,Quantitative Research Techniques,AwarenessImageBrand responsesBrand relationships,8.29,Awareness,RecognitionAbility of consumers to identify the brand(and its elements)under various circumstancesRec
29、allAbility of consumers to retrieve the actual brand elements from memoryUnaided vs.aided recall,8.30,Awareness,Corrections for guessing Any research measure must consider the issue of consumers making up responses or guessing.Strategic implications The advantage of aided recall measures is that the
30、y yield insight into how brand knowledge is organized in memory and what kind of cues or reminders may be necessary for consumers to be able to retrieve the brand from memory.The important point to note is that the category structure that exists in consumers mindsas reflected by brand recall perform
31、ancecan have profound implications for consumer choice and marketing strategy.,8.31,Image,Ask open-ended questions to tap into the strength,favorability,and uniqueness of brand associations.These associations should be rated on scales for quantitative analysis.,8.32,Brand Responses,Research in psych
32、ology suggests that purchase intentions are most likely to be predictive of actual purchase when there is correspondence between the two in the following categories:Purchase IntentionsAction(buying for own use or to give as a gift)Target(specific type of product and brand)Context(in what type of sto
33、re based on what prices and other conditions)Time(within a week,month,or year),8.33,Brand Relationships,Behavioral loyaltyBrand substitutabilityOther brand resonance dimensionsFor example,in terms of engagement,measures could explore word-of-mouth behavior,online behavior,and so forth in depth,8.34,
34、Comprehensive Models of Customer-Based Brand Equity,Brand dynamics Equity enginesYoung&Rubicams Brand Asset Valuator(BAV),8.35,Brand Dynamics,The Brand Dynamics model adopts a hierarchical approach to determine the strength of relationship a consumer has with a brand.The five levels of the model are
35、:PresenceRelevance PerformanceAdvantageBonding,8.36,Equity Engines,This model delineates three key dimensions of brand affinitythe emotional and intangible benefits of a brandas follows:Authority:The reputation of a brand,whether as a long-standing leader or as a pioneer in innovation Identification
36、:The closeness customers feel for a brand and how well they feel the brand matches their personal needs Approval:The way a brand fits into the wider social matrix and the intangible status it holds for experts and friends,8.37,Young&Rubicams Brand Asset Valuator(BAV),There are five key components of
37、 brand health in BAVthe five pillars.Each pillar is derived from various measures that relate to different aspects of consumers brand perceptions and that together trace the progression of a brands development.Differentiation Energy Relevance Esteem Knowledge,8.38,240,000+consumers Up to 181 categor
38、ies137 studies40 countries8 years56 different brand metricsCommon methodology,BrandAsset Valuator(BAV),8.39,Four Primary Aspects,How Brands Are Built,Knowledge,The culmination of brand building efforts;acquisition of consumer experience,Esteem,Consumer respect,regard,reputation;afulfillment of perce
39、ived consumer promise,Relevance,Relates to usage and subsumes the five Ps of marketing;relates to sale,Differentiation,The basis for consumer choice;the essence of the brand,source of margin,8.40,Room to grow.Brand has power to build relevance.,D R,0,10,20,30,40,50,60,70,80,90,100,Differentiation,Re
40、levance,Healthy Brands Have Greater Differentiation than Relevance,Examples:Harley DavidsonYahoo!AOLWilliams-SonomaIkeaBloomberg Business News,8.41,R D,0,10,20,30,40,50,60,70,80,90,100,Differentiation,Relevance,Uniqueness has faded;price becomes dominant reason to buy.,Brands with greater Relevance
41、than Differentiation Are in Danger of Becoming Commodities,Examples:ExxonMottsMcDonaldsCrestMinute MaidFruit of the LoomPeter Pan(peanut butter),8.42,E K,0,10,20,30,40,50,60,70,80,90,100,Esteem,Knowledge,Brand is better liked than known.,More Esteem than Knowledge Means,“Id like to get to know you b
42、etter”,Examples:Coach leatherwearTag HeuerCalphalonMovadoBlaupunktPella WindowsPalm PilotTechnics,8.43,Brand is better known than liked.,Too Much Knowledge Can Be Dangerous:“I know you and youre nothing special”,Examples:PlymouthTV GuideSpamWoolworthsChryslerMaxwell HouseNational EnquirerSanka,8.44,
43、BrandAsset Valuator,A Two-Dimensional Framework for Diagnosing Brands:The Power Grid,8.45,Power Leaders,New,Niche/Unrealized Potential,Declining Leaders,Unfocused,BRAND STRENGTH(Differentiation and Relevance),BRAND STATURE(Esteem and Knowledge),Eroded,Brand Health Is Captured on the PowerGrid,Base:U
44、SA Total Adults BAV 2000,8.46,BRAND STATURE,BRAND STRENGTH,Base:USA Total Adults BAV 1999,0,20,40,60,80,100,0,20,40,60,80,100,PlymouthBazookaIvory SnowPertRolaidsKedsHoward JohnsonTWAGreyhound,Arizona Iced TeaAeropostaleNewmans OwnSundance ChannelDreamWorksBloomberg Business NewsCDnowIKEA,Coca-ColaO
45、cean SprayNikePepperidge FarmM&MsDisneyJeopardy!Hallmark,San PellegrinoSun MicrosystemsWiredQuest TelecommNokiaiVNetGrocerIridium,USA 1999 PowerGrid Sample,8.47,Y&R Resonance Research,Usage,Loyalty(60%),Attachment(30%),Community,Engagement,ResonanceACE(10%),15%,Base:2001 BAV Data,8.48,0,50,100,0,50,
46、100,Brand Stature,Brand Strength,Attached,Loyal,Community,Resonance,Engaged,Non-Loyals,Resonance,Engaged,Community,Attached,Loyal Users,Non-Loyal Users,Base:BAV USA Adults 2001,Differentiation,Y&R Resonance Research with BAV,8.49,Average U.S.Packaged Goods Brand,Proportion of Consumers,Consumer Loya
47、lty,8.50,Commonalty Between the Basic BAV Model and the CBBE Framework,BAVs knowledge relates to CBBEs brand awareness and familiarity.BAVs esteem relates to CBBEs favorability of brand associations.BAVs relevance relates to CBBEs strength of brand associations(as well as perhaps favorability).BAVs
48、energy relates to CBBEs favorability of associations.BAVs differentiation relates to CBBEs uniqueness of brand associations.,8.51,CHAPTER 10:MEASURING OUTCOMES OF BRAND EQUITY:CAPURING MARKET PERFORMANCE,Kevin Lane KellerTuck School of BusinessDartmouth College,8.52,Measuring Brand Equity,Multi-dime
49、nsional conceptMany different measures requiredThe ultimate value of a brand depends on the underlying components of brand knowledge and sources of brand equity,8.53,Comparative Methods,Brand-based comparative approachesMarketing-based comparative approachesConjoint analysis,8.54,Brand-Based Approac
50、hes,The marketing element under consideration is fixed.Consumer response is examined based on changes in brand identification.Application example:Blind testingAdvantage:Isolates the value of the brandDisadvantage:The totality of what is learned depends on how many applications are examined.,8.55,Mar
