Strategic Brand Management Test 2 (chap. 6-11) - Dr. B - msstate

functional benefits

those benefits related to product attributes that the customer values because of what they do for them or what they allow the customer to do

-functional benefits can be imitated

-functional benefit differentiation assumes rational evaluation

-functional benefits can confine the brand when it's time to expand/extend

why promote something other than functional benefits to meaningfully differentiate the brand?

emotional, self-expressive, social

what kinds of benefits ARE recommended for meaningful differentiation?

emotional benefits

those benefits that relate to the ability of the brand to make the buyer or user feel something during the purchase process or use experience

self-expressive benefits

those benefits that allow the user to show others who they feel they are (actual self) or who they want to be (ideal self)

social benefits

those benefits that make the user feel that they are part of a social group that implies certain member benefits

-look at the experiences of your most loyal customers to see which they especially value

-think of the benefits that your brand could potentially create if you extended the offering.

-consider what the personality of your brand (or your brand values) imply

how do you decide which benefits of your brand are best to emphasize?

transformational innovation

changes what is bought and sold

substantial innovation

doesn't change the actual offering but significantly enhances it with new features or vast improvements on an old product

basis for the customer relationship

doesn't actually change the product, but provides something that is meaningful to the customer

features

benefits

appealing design

system offering that combines components

new technology

product design for a specific segment

lower price point

what are examples of elements of substantial innovation?

shared interest

personality that connects

a passion

organizational values

what are factors of the basis for a customer relationship?

proprietary knowledge or expertise

be a moving target

move beyond functional benefits

brand equity

be prepared to scale the concept

be considered AUTHENTIC

flawlessly execute your product

brand your innovation differentiator

become a sub-category exemplar

what creates barriers to entry?

branded differentiation

an innovation that ensures that target customers perceive a meaningful difference between your brand and other products in the category and that you have given a brand of its own

meaningful (to customers)

impactful (not trivial difference)

needs to warrant active management over time

needs to be linked to the branded offering and have a brand defining role

what criteria should a brand differentiator posess? (4)

feature, ingredient, technology, service, program

what are the 5 types of brand differentiators?

-serves as unique indicator source, allowing for ownership

-adds credibility by suggesting that it was worth branding

-makes communication more efficient and memorable

why develop a branded innovation?

framing

aims to change the way consumers perceive, discuss and think about the subcategory, changing what people are buying and which brands are relevant to purchase

1. advocate for subcategory rather than the brand

2. develop a descriptive label to redefine the subcategory

3. invest whatever it takes to be the market leader

how do you become an exemplar for a subcategory? (3)

-"no bad ideas" brainstorm

-remove self from usual environment

-start with different part of problem

-try solving some riddles first

-read or what something completely new to you

-have a conversation with a complete stranger

what are some ways to think more creatively?

external role models, brand touchpoints, customer motivations and unmet needs, be opportunistic, leverage your assets, customer sweet spots

where does Aaker suggest we look for brand-building ideas?

-brands that have achieved the perceptions that we aspire to have

-brands that represent the best interpretation of the brand vision elements that we are striving for

-brands that effectively communicate their vision

who would be considered external role models for our brand?

brand touchpoints

any time the consumer comes in contact with the brand, a touchpoint can be an ad, when they actually use the product, when they interact with a brand employee, when they hear or spread word-of-mouth etc.

-identify all existing and potential touchpoints

-evaluate the touchpoint experience

-determine the impact of each touchpoint on customer decisions and attitudes

-prioritize the most impactful touchpoints

-develop an action plan

how can efficiently leverage our brand touchpoints

empower all units in the organization to work on it

employ crowdsourcing

examine competitor weaknesses

examine emerging applications or market segments

constantly refine what you have already developed

what are Aaker's other brand-building exercises?

what is a consumer involvement?

a consumer's perceived relevance of an object based on their inherent needs, values, and interests

true

the more motivated to solve a problem one is, the more involved one is

sweet spot

something that the consumer is highly involved in - whether it's a cause or another organization or an activity that the consumer is passionate about

sweet spot

central to the consumer's self-identity or lifestyle

sweet spot

reflect something they consider a higher purpose

creates energy, enhances brand likability and credibility, allows a friend, colleague, or mentor relationship to form, stimulates a social network

what does the brand get in exchange for attaching itself to customer-driven sweet spots?

-identify a shared interest that has the capacity to engage your audience

-create an internal shared-interest sweet spot program

-find an existing external program you can attach to

where do you start looking for sweet spots your customers care about?

-where they spend their quality time

-what activities do they enjoy

-what possessions are important to them

-what do they talk about

-what issues absorb their attention

-what areas do they hold strong opinions

-what are their values and beliefs

-what do they consider their higher purpose

what do you need to know about your customers to find their potential sweet spots?