Tourism Marketing Masterclass: 10 Key Lessons Mark Ritson Associate Professor

CUSTOMER BRAND EQUITY Tight & Right Positioning

 Most Brand Positioning  Brand / Market Leaders Reliability Integrity Innovation Trust Quality Value Excellence

: Tight, Distinct Positioning

CUSTOMER BRAND EQUITY Great Brands Do It Their Way

: Do It Your Own Way

 The need for information crosses all borders  There's always more information out there.  You can be serious without a suit.

Uncompromising Perfection Savoir-Faire

CUSTOMER BRAND EQUITY Touchpoints

 Much Broader from Consumers Perspective  The Little Things - It’s never what you see  Asymmetries  Removing Negatives?  Improving Possible Positives  Brand Infusion?

CUSTOMER BRAND EQUITY Brand Tracking

 Set metrics  Measure  Re-Measure  Annual  Early warning system  A diagnostic addition to sales  Justification of Early ROI  10% Marketing Budget  A signal of expertise

Brand Tracking: Food & Restaurants

Net Promoter Scores

US All Stars

Best of British

5. Airlines

Using NPS  Focus Groups x 2  Competitor Rankings  Boardroom respect  Tracking Variable

CUSTOMER BRAND EQUITY Competitor Definition is Crucial

Defining Competitors?

How Do You Define Competitors?

The Competitor that Gets You…  An American experience  The problem with categories  The competitor that gets you  The power of open box q’res

CUSTOMER BRAND EQUITY Targeting Means Two Things

: Targeting  No HR Dept  No Adspend  10% SKUs of Coles  Poor Experience  90% Private Label

: Real Targeting Means 2 Things Paul Pressler ‘Dead Man Walking’ Mike Jeffries ‘Marketing Genius’ 33% "In every school there are the cool and popular kids, and then there are the not-so-cool kids. We go after the cool kids. We go after the attractive all-American kid with a great attitude and a lot of friends. A lot of people don't belong [in our clothes], and they can't belong. Are we exclusionary? Absolutely.” “Those companies that are in trouble are trying to target everybody: young, old, fat, skinny. But then you become totally vanilla. You don't alienate anybody, but you don't excite anybody, either." 43%

Real Targeting Means 2 Things  Which customers are you going after?  Which ones do you not want?  The typical marketer with their segments…  The leap of faith you must make:

CUSTOMER BRAND EQUITY IMC: The Age of the Handyman

: Advertising is not the Default option  Jim Stengel – the biggest client in the world  2004 AAAA Conference  Ed Artzt 1994 Speech  How well did you respond? C-  “The traditional marketing model we all grew up with is obsolete”  The end of the 30 second TV spot  20% annual reduction in adspend

The Best Clients Today are Handy(wo)men

CUSTOMER BRAND EQUITY Value is a Double Edged Sword

: Value as a Two Sided Concept

The Concept of Value V customer organisation V customer organisation V

CUSTOMER BRAND EQUITY It Was Never About Sales Figures

Sales vs. Profit  The World’s Biggest Carmaker  77 year streak  2007 GM Wins again!  9,369,524 cars  30,000 more than Toyota $1,436 $1,266 -

: Marketing = Sales  1997 Launch of “Return to Tiffany”  By 2002 Sales up 65%  Share price doubled $110  Looking beyond sales figures – consumer research  A different customer and a changing brand equity  Return to Tiffany is “a fundamental threat” to the company  2002 & 2003 Price Rises  Artisan Evenings $140 $175

CUSTOMER BRAND EQUITY Brand?

The Real Meaning of Brand

10 Marketing Challenges  Positioning: Tight & Right?  Doing it Your Way?  Touchpoints?  Brand Tracking?  Proper Competitor Definition?  Targeting means two things?  IMC?  Understand value?  Profit not Sales Focus?  The Real meaning of Brand?

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