Building Brands in Challenging Times Presented by Andrew Zolli Clark University GSOM May 2003.

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Presentation transcript:

Building Brands in Challenging Times Presented by Andrew Zolli Clark University GSOM May 2003

YUCK! (I Want the 90’s Back!) Rapid Commoditization Recession Global Fear & Uncertainty Rebuilding Iraq Lack of Trust Corporate Scandals Over Capacity Ken Lay Dot Bomb War & Terrorism SARS Investor Revolt

A Quick Definition… “A brand is a meaningful, enduring and distinctive idea, formed in the minds of key constituencies based on the sum of direct and indirect experiences of an organization: its products, services, communications, behavior, history, cultural standing and interaction with stakeholders.” “A brand is a promise delivered.”

What’s Not Mentioned…  Logos  Tag Lines  Corporate Identity  Positioning  Direct Marketing  Advertising  Viral Anything

BRANDS EXPERIENCES CULTURE

No Logo vs. Pro Logo vs. Whoa! Logo!

“We Hate Starbucks!” “They’re a blight on the neighborhood!” “They’re taking over!” “They put the local place out of business.” “They have too much power.” “I want my brain back!”

The Heavenly Starbucks, Christian Family Center, Munsey, IN Meanwhile…

The Last Ride, Munsey, IN

How Did We Get Here? Relative increase of new brands

How Did We Get Here? Relative increase of new brands

The Dawn of the Modern Brand

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Growth in New Goods

!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Percentage Change in the Growth in New Goods

Mass Manufacturing Mass Distribution Mass Communications Parity Products The Dawn of the Modern Brand

Where Are We Today?

Old vs. New communicationsbehavior vs. communicationsbehavior innovation

The Modern Acceleration of Branding

The Modern Acceleration of Branding Key Drivers:  Globalization  New Technology  Deregulation  Tax Policy  Public Policy

The Modern Acceleration of Branding Responses:  New Branding Disciplines  New Brand Consultants  Expansion of Brands into the Public Sphere Key Drivers:  Globalization  New Technology  Deregulation  Tax Policy  Public Policy

2002 Brand of the Year: Google Source: Interbrand #1 in Loyalty… #1 in Preference… …NO AD AGENCY.

2002 Top Global Brands Source: BusinessWeek

Of the Top Global Brands… On a normalized basis:  40% spend less on marketing and advertising than their nearest competitor!  But … they all spend more on IT – 18% more, on average! Source: Z+Partners

…And It Has a Huge Impact! Source: Z+Partners +30% Value of the top 10 global brands, as a percentage of their parent’s market value. (~ $390b!) +160% Difference in brand value between these leaders and their closest competitors +340% Difference in market cap between these leaders and their closest competitors +18% Difference in IT spending by brand leaders and their closest competitors (size adj.)

IT is the New Glue customer care ebusiness advertising strategic planning employees services R&D IR BRAND PROMISE HR supply chain operations inventory mgmt. Shaping InterpretingIntegrating Delivering Using Improving

Commodities $.10 Experiences $4.50 Culture $??? ? Moving Up The Chain of Meaning Products $.25 $1.00 Services

Total inventory managed every 90 minutes.

Winning through design and aesthetics.

120,000 prescriptions filled by telephone.

Leadership through ease of use.

Claiming one’s heritage

The brand as sensory theatre.

New Technologies of Intimacy

#1 is HomeDepot.com #2 is HomeDepotSucks.com #3 is HomeDepot’s Suppliers

Another Quick Story

So What Comes Next?

Just Screw It.

Another Curve!

Another Curve! Key Drivers:  Values  New Structures  New Metrics  Sustainability  Accountability  Transparency  Responsiveness  Dialogue

Another Curve! Key Drivers:  Values  New Structures  New Metrics  Sustainability  Accountability  Transparency  Responsiveness  Dialogue

Some Questions For The Next Curve  Growth : Is it the foremost goal?  Scale : Is it the enemy of accountability?  Time : Do we need a longer view?  Profit : Is it only financial?  Customers: Are we merely consumers?  Metrics: How should we measure and reward?

“We’ve pushed market wisdom and moral wisdom as far apart as possible. The next chapter will be dominated by the painful process of bringing them back together.” -Eamon Kelly GBN (2000)

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