Session 8 Strategically marketing the power of brands

Session 8 Strategically marketing the power of brands

“WHAT IS A BRAND” (Clip: What is a Brand)
From what you observe in this clip: List the characteristics and qualities that define a Brand? From your answers, brainstorm a list South African firms in the public and private sectors with brands that you trust – and those that you don’t trust Give reasons for your answers in #2.

COMPONENTS IN BUILDING BRANDS
Creates Trust Reduces risk in choice Does what it says Consistent Fufills promises REPUTATION Being customer driven and “creating value” for all Note: Advertising does not build brands – it informs people about an existing product

TASTE TEST How many of you have tried the Coke Zero and can taste a difference between Coke, Diet Coke, and Coke Zero?

Taste Test Questions How accurate were you in distinguishing between Coke, Diet Coke and Coke Zero? Give a score! Did you find any significant taste differences between Coke, Diet Coke and Coke Zero? What were they? Did you find significant taste differences between Diet Coke and Coke Zero? Describe the pscyhographic profile of customers who would purchase either Diet Coke or Coke Zero? What would make these customers choose between purchasing “Coke Zero” and “Diet Coke”? Why, in your opinion, would Coke bring out a “Coke Zero” product when “Diet Coke” has been around a long time? What does this say about the coke brand?

Brand Terms to Know Brand – A name, term, design, symbol or other feature that identifies one marketer’s product as distinct from those of other marketers e.g. Toyota Hilux, Ford Ranger Brand Name – The part of a brand that can be spoken – including letters, words and numbers MUA, AFL, Cricket Australia, Heinz 57 Brand Mark – Part not made up of words, but as a symbol or design Nike swoosh, Mercedes tri-star, McDonald’s golden arches Trademark – Legal designation of exclusive use of a brand

What is the Value of Branding to CUSTOMERS
Brands help customers know immediately what to get to fulfill a need –speed of purchase Without brands, product selection would be quite random and based mostly on price Branding provides a form of self-expression and status e.g. Land-rover compared to a BMW or a Porsche Brands symbolise a level of product quality in the eyes of the customer Brands reduces the risk of purchase of a ‘competitive’ but “inferior” or “inadequate” products

What is the Value of Branding to SELLERS
People have a staggering number of product choices - brands help customers identify and differentiate a firm’s products from competing products Brands also help in introducing new products Familiarity with the brand name and perceived quality Branding facilitates the promotion of all same-brand products Brands foster the development of brand loyalty Leading to more stable market share, and less reliance on price-cutting to attract customers Branding is what firms need to design, market and advertise to bring value to the customer

Cultural and Branding ‘Cultural branding’ is the term used to explain how a brand conveys a powerful message that customers identify with and they believe will enhance their self- concept, self-esteem, and status! The Harley ‘biker’ image and reputation – diversity of educational, socioeconomic or financial realities. Hi-Tec Sports

“Hi Tec” Branding and Strategic Marketing
Question: How does Hi Tec do it’s Strategic Marketing and create Brand Equity in the minds of it’s customers?

Culture and Branding Consumers confer their own social meaning onto brands The brand’s appeal is largely at an emotional level, and is based on its symbolic image and key associations For Harley-Davidson and Apple owners, this association can be almost cult-like! (tatoo on butt) Brands fosters the development of ‘brand communities’ Leading to more communication between customers, and relationships that competitors can find hard to break

4 Elements Comprising Brand Equity

Brand Equity Comprises:
Brand Awareness: How easy is the brand recognizable by potential customers (advertising is important here)? Brand Associations: The way in which people think of a particular brand to help them satisfy a need because the need and brand are closely connected with each other. Perceived Brand Quality: This is how the performance and standards of a brand are viewed by customers Brand Loyalty: This consists of customers commitments’ to re-purchasing and continuing to using the brand

You Tube: Top 10 Global Brands Synonymous with a Product

Top 10 Global Brands 2012

TOP SA BRANDS (2019) (Brand Finance, 2019)
2018 value 2019 value Change 1 MTN R44.2 billion R50.3 billion +13.7% 2 Vodacom R27.5 billion R33.3 billion +21.1% 3 First National Bank R19.4 billion R25.5 billion +31.6% 4 Absa R18.9 billion R23.5 billion +24.5% 5 Standard Bank R18.5 billion R22.5 billion +21.7% 6 Sasol R15.7 billion R21.0 billion +33.6% 7 Multichoice R14.3 billion R18.8 billion +31.1% 8 Woolworths R15.5 billion R16.7 billion +8.2% 9 Castle R13.9 billion R16.6 billion +19.3% 10 Nedbank R14.8 billion R15.8 billion +6.7%

Types of Brands House brands Manufacturer brands
Brands initiated by producers Producers are identified with their products at the point of purchase Toyota, Ford, House brands Brands initiated and owned by resellers Also called store brands or generic brands Manufacturers are not identified in the product Woolworth’s ‘Select’ and ‘PicnPay’ home brands

Selecting a Brand Name The name should:
be easy to say, spell, and recall indicate the product’s major benefits suggest the product’s major uses and special characteristics be distinctive, setting it apart from competing brands and be compatible with all products in line be designed for use and recognition in all types of media consider cultural interpretations

Discussion Question Have you ever come across a product with a totally unappealing brand name? What is the product and the brand name? Why is it not appealing to you?

Protecting a Brand Brands should be designed to that they can be protected easily through registration Protecting a brand Companies register brand names and feature the  logo to protect the brand from unauthorised use

BRAND Extensions Using an existing brand to brand a new product in a different product category Virgin Active, Virgin Mobile, Virgin Money

Co-Branding Using two or more brands on one product
The brands can be owned by the same company or different companies Co-branding Both Woolworths and Caltex, and similarly Nike and Apple, have launched successful co-branding campaigns

BRANDS AND THE MARKETING MIX
Branding and products Product services that predominantly involve services are equally viable for branding strategies A brand experience Disneyland is differentiated from competitors by offering a unique experience in the theme park sector.

VIDEO Interview with Jerry Wilson, Senior VP @ Coca-Cola
Customer satisfaction as one of the major marketing objectives Interview with Jerry Wilson, Senior Coca-Cola Location: Most relevant minutes: 0:20 – 3:47 Concept: Customer satisfaction as one of the major marketing objectives. Clip Description: Jerry Wilson discusses the importance of Coca-Cola to build a mutually beneficial relationship between Coke and its consumers. Key outcome/points to consider: This video will illustrate the essence of marketing, which is to develop satisfying exchange from which both customers and marketers benefit. As Jerry Wilson points in this video, customer satisfaction is the marketing concept major objective.

STRATEGICALLY MARKETNG THE POWER OF YOUR PERSONAL BRAND

VIDEO Interview with Jerry Wilson, Senior VP @ Coca-Cola
Customer satisfaction as one of the major marketing objectives Interview with Jerry Wilson, Senior Coca-Cola Location: Most relevant minutes: 0:20 – 3:47 Concept: Customer satisfaction as one of the major marketing objectives. Clip Description: Jerry Wilson discusses the importance of Coca-Cola to build a mutually beneficial relationship between Coke and its consumers. Key outcome/points to consider: This video will illustrate the essence of marketing, which is to develop satisfying exchange from which both customers and marketers benefit. As Jerry Wilson points in this video, customer satisfaction is the marketing concept major objective.

YOUR PERSONAL BRAND 4. HOW TO EXCECUTE MY PERSONAL BRAND
HOW TO BE AUTHENTIC HOW DO I WANT OTHERS TO CONNECT WITH MY PERSONAL BRAND? How do I network? Tips for networking How do I expand my networks through digital and online media. HOW DO I DEFINE MY PERSONAL BRAND? My Brand Personality My Brand Value proposition My Knowledge Skills, Expertise and Talents My own Vision, Mission and Goals

If you don’t define your Personal Brand - Others will do it for you!

HOW DO I DEFINE MY PERSONAL BRAND?
Connect “WHO” you are with “WHAT” you do - to Enhance your Reputation and Legacy

Your BRAND PERSONALITY Your BRAND VALUE PROPOSITION Your KNOWLEDGE SKILLS, EXPERTISE, TALENTS AND CREDITIALS 4. Your own VISION, MISSION and GOALS

WHO AM I ?

YOUR BRAND PERSONALITY AND
THE ‘COLOURS’

Perception – the more you look the more you see …
KARL JUNG Perception – the more you look the more you see … Our Personality has many faces – we are not just one face!

Quiet Observant Inward focus Depth Intimate Reserved Reflective Thoughtful Cautious
Energetic Involved Outward focus Breadth Quick Action oriented Outspoken Sociable Bold © Andrew Lothian, Insights, Dundee, Scotland, All rights reserved. INSIGHTS, INSIGHTS DISCOVERY and INSIGHTS WHEEL are registered Trade Marks.

Preferences – Introversion and Extraversion
Quiet Observant Inward focus Depth Intimate Reserved Reflective Thoughtful Cautious Energetic Involved Outward focus Breadth Quick Action oriented Outspoken Sociable Bold © Andrew Lothian, Insights, Dundee, Scotland, All rights reserved. INSIGHTS, INSIGHTS DISCOVERY and INSIGHTS WHEEL are registered Trade Marks.

JUNG’S PREFERENCES How do you charge batteries?
Introversion – By being on your own Extraversion – By being with others

PREFERENCES – INTROVERSION OR EXTRAVERSION

Formal, Impersonal, Analytical, Objective, Strong-minded, Competitive, Correct, Task, Systems
Informal, Personal, Considerate, Involved, Subjective, Caring, Accommodating, Harmonious, Relationships, Morale

PREFERENCES THINKING AND FEELING:
Formal, Impersonal, Analytical, Detached, Objective, Strong-minded, Competitive, Correct, Task, Systems Thinking Preference Informal, Personal, Considerate, Involved, Subjective, Caring, Accommodating, Harmonious, Relationships, Morale Feeling Preference

PREFERENCES – THINKING OR FEELING?

Jung’s Preferences Recap?
How we get our batteries charged Introversion – By being on your own Extraversion – By being with others How we make decisions Thinking – Based on WHAT they impact Feeling – Based on WHO they impact

Identifying your Brand Colour Energy
Thinking Extraversion Introversion Feeling

COLOUR STATEMENTS! Let’s do it NOW Let’s do it RIGHT Let’s do it
HARMON- IOUSLY Let’s do it TOGETHER © Andrew Lothian, Insights, Dundee, Scotland, All rights reserved. INSIGHTS, INSIGHTS DISCOVERY and INSIGHTS WHEEL are registered Trade Marks.

The Four Insights Colour Energies
Cool Blue Showing no bias Objective Detached Analytical Fiery Red Positive Affirmative Bold Assertive Still Tranquil Calming Soothing Earth Green Cheerful Uplifting Spirited Buoyant Sunshine Yellow We have all four Insights colour energies within us

On a good day… Cautious Precise Deliberate Questioning Formal Competitive Demanding Determined Strong-willed Purposeful Caring Encouraging Sharing Patient Relaxed Sociable Dynamic Demonstrative Enthusiastic Persuasive

On a bad day… Stuffy Indecisive Suspicious Cold Reserved Aggressive Controlling Driving Overbearing Intolerant Docile Bland Plodding Reliant Stubborn Excitable Frantic Indiscreet Flamboyant Hasty

GUESS THE COLOUR TYPES …

Things I would never do... Cool Blue Fiery Red Sunshine Yellow
Throw a surprise party Volunteer to be a master of ceremonies at a high school reunion Only read the society pages of the newspaper Cool Blue Fail to state and opinion when you strongly disagree with what is said Play a tennis match without playing to win Say to someone “Let’s do it your way” Fiery Red Finish every book you are reading before starting a new one Make to-do lists every week and stick to them Tell a story without exaggerating Sunshine Yellow Earth Green Deliberately start an argument at a family reunion Tell each of your subordinates that you are angry with them and why Turn away a friend who has a problem

You are suffering from an excess of...
You deliberately run out of petrol so you can find out exactly how far your car goes on a litre of petrol You make it a hobby to check the claims made by washing machine manufacturers Cool Blue You are walking beside a lake and decide to walk across it for a change of pace You arrive at work at 8.00am and find that by 8.03 no one is speaking to you Fiery Red Sunshine Yellow You need to call a friend four times in order to leave your entire message on their answering machine You invite friends over to read a book with you You listen for 30 minutes to a telephone sales person selling garden furniture – and you live in a block of flats You start your summer holiday by reading all your insurance documents Earth Green

What colours are you? TOP COLOUR BOTTOM COLOUR

Cool Blue: Gifts and Liabilities
Knowledgeable and detailed Air of competence Asks probing questions Thorough follow-up Liabilities Initial interaction may be difficult or stuffy Questions may be seen as critical and insensitive Overlooks others’ feelings Focus on inconsequential details

Cool Blue: Understanding & Communicating your Brand Personality
Do… Be well prepared and thorough Put things in writing Consider all the details Don’t… Get too close hug me Be flippant on important issues Change the routine without notice

Sunshine Yellow: Gifts and Liabilities
May lack focus Too casual for some Poor planning and follow-up Can lose interest Gifts Quick to build relationships Friendly and sociable Adaptable, imaginative Skilful presenter

Sunshine Yellow: Understanding & Communicating Your Brand Personality
Don’t… Bore me with details Tie me down with routine Ask me to work alone Do… Be friendly and sociable Be entertaining and stimulating Be open and flexible

Fiery Red: Gifts and Liabilities
Confident, determined Loves challenges Focused Influencing others Liabilities Poor listener Can be seen as arrogant May push too hard Doesn’t wait for feedback

Fiery Red: Understanding & Communicating Your Brand Personality
Do… Be direct and to the point Focus on results and objectives Be brief, be bright and be gone Don’t… Hesitate or waffle Focus on feelings Try to take over

Earth Green: Gifts and Liabilities
Slow to adapt May lack enthusiasm in asking for a decision Avoids rejection Takes difficulties personally Gifts Builds deep, long-term relationships Natural listener Sincere and warm Persistent

Earth Green: Understanding & Communicating your Brand Personality
Don’t… Take advantage of my good nature Push me to make quick decisions Spring last minute surprises Do… Be patient and supportive Slow down and work at my pace Ask my opinion and give me time to answer

Cool Blue Energy Overview
Approach to Life High standards and correct Goals Understanding Seen by Others as Analytical and distant

Earth Green Energy Overview
Approach to Life Focus on stability, values and supporting others Goals Harmony Seen by Others as Mild and docile

Fiery Red Energy Overview
Approach to Life Inner certainty Focus on action Goals Personal achievement and meeting challenges Seen by Others as Impatient

Sunshine Yellow Energy Overview
Approach to Life Fun and interaction Goals Recognition Seen by Others as Disorganised

HOW TO ADAPT OUR BRAND PERSONALITIES?
Understand ourselves Understand others, recognise the differences & value their style and opinions Use less of your preferred style of behaviour and more of their style UNDERSTAND OURSELVES UNDERSTAND OTHERS ADAPT

Group Activity In your leading colour energy group, craft a story that sends a message about the dangers of smoking. Craft your story and communicate it as a group so that it connects with the opposite leading colour energy of your team and promotes your desire to send a message about the dangers of smoking – you want them to change their behaviour and to stop smoking. Refer to the colour slides to craft your story

Team Challenge You are launching a new product that will help people stop smoking. Your audience is a group of 10 individuals who comprise all 4 leading colour energies: Cool Blue, Earth Green, Sunshine Yellow, and Fiery Red Working as a team collectively, your goal is to craft a story that sends a message about the importance of this new product innovation for your clients Your story should contains specific statements that connect with your clients who comprise all 4 colour energies - and your goal is to have your audience realize the value of this new product and to work together collectively in crafting your story You have 30 minutes to craft your story and no more than 5 minutes to communicate your message .

REFLECTION QUESTIONS What Brand Personality Preferences are my strong points? What Brand Personality Preferences are my potential blind-spots? What insights have I learned from my top and opposite colour energies that I can apply to improve my personal brand and my relationship connections with others?

Your BRAND PERSONALITY Your BRAND VALUE PROPOSITION Your KNOWLEDGE SKILLS, EXPERTISE, TALENTS AND CREDITIALS 4. Your own VISION, MISSION and GOALS

WHAT IS YOUR BRAND VALUE PROPOSITION?
What are you passionate about? What do You Stand for? What do you truly value in your life? Are you “Credible” (Values + Action = Credibility) Have you aligned your personal and professional Goals with your Values? What is your unique Knowledge, Skills, Expertise and Talents

LIFE VALUES EXERCISE Read the following statements and rank on from 1 (Most Valued) to 10 (Least Valued) importance of each of them. The ones that describe you most strongly show the anchors to your happiness. Take the top 3-5 and make and effort to deal with these. Think also about your 1 or 2 most important values! VALUES STATEMENT SELF RATE Achievement Accomplishing important goals _______ Challenge Working on tasks which stretch my skills and help my development and growth Enjoyment Having fun and doing my job. Liking my working conditions Expertise Being an expert in what I do Family Having time to spend with my family

LIFE VALUES EXERCISE (cont.)
WISH STATEMENT SELF RATE Friendship Working with people I like and trust and being liked and trusted by them _______ Independence Having control over my work and my career Leadership Motivating and influencing others on/off the job. Creating visions others adopt, support and act on Location Living in a specific geographic area or type of community Loyalty Commitment to a company or project that overrides personal desires Power Having formal control over resources and decisions. Being able to influence decisions, direction and resource allocation

LIFE VALUES EXERCISE (cont.)
WISH STATEMENT SELF RATE Recognition Being seen by others as successful, having my contributions valued and acknowledged by others _______ Security Having a stable job and secure employment Service Contributing to the satisfaction and well-being of others Wealth Having money and a high standard of living Status Having a high social position, owning expensive things Fame Getting popular praise and public esteem

REFLECTION QUESTIONS What do I stand for and what are my values?
What do these values mean to me in my personal and professional lives? How can I ensure that my goals are aligned with my values. Are my values aligned with my Personal Brand? How can I bring them into closer alignment?

MY PERSONAL BRAND 4. HOW TO EXCECUTE MY PERSONAL BRAND

HOW DO I WANT OTHERS TO CONNECT WITH
MY PERSONAL BRAND? Who are the people that need my help? How do I add value in my relationships to these people? How can I satisfy their “Functional Needs” (deliver on promises) and “Emotional Needs” (creating partnerships, community, etc.) What obstacles have I encountered that could hold me back from connecting with people? Am I willing to Adapt my knowledge, skills, and talents with changing times and situations? What opportunities can I seize that will help me initiate a working relationship and improve my networking skills?

HOW DO I NETWORK? Who are the decision-makers? Information sources?
Supportive people?

TIPS FOR NETWORKING Be a resource need
Stay in touch with your networks Be authentic and genuine when networking Use Digital media to advance your network (Linked-In, Facebook, Twitter, etc.)

EXPANDING YOUR NETWORKS THROUGH
DIGITAL ONLINE MEDIA Be a “Thought Leader” How can I advance my field? What can I do to speak for my industry? What content can I create that would position me for thought leadership? Craft an online bio. and include the following items: Speeches you have given and for what organizations Books or articles you have written Radio, TV, or print media interviews you have given Relevant degrees, awards, or honors you possess Relevant projects you have been involved with Length of time you have been in business or doing your work Name recognition clients you can mention National or international credentials or experience or positions you have held Boards you have been a member of Special relevant skills, talents, or abilities you possess

TIPS TO PRESENT YOUR BRAND PROFILE ON DIGITAL ONLINE MEDIA PLATFORMS
Your name Your website address A headshot Images of any books you have written A favorite quote (by you or someone else) Your position or title Your company logo Colors consistent with your logo or website Model or diagram your regularly use in your work Tips for Personal Branding on LinkedIn List the names of at least four people you want to request a recommendation from on LinkedIn, and include their position and recommendation details.

TIPS TO EXPAND YOUR TWITTER REACH
Write one tweet for each of the following options, which you could then use for your Twitter stream. A Tip: A Question: An Opinion: A Link to other website: A Link to blog: A Link to article: A Link to audio: A Link to video:

REFLECTION QUESTIONS What do I need to START doing to connect my personal brand with others? What do I need to CONTINUE doing to connect my personal brand with others? What do I need to STOP doing to be more effective in connecting my personal brand with others?

HOW TO EXECUTE MY PERSONAL BRAND
Complete the following: What Area of Personal Branding do I need to Address? What Actions Can I take to Address that Area? When Will I Do This? What Will It Achieve Who Can Help or Support Me

THE END Thank you for your time!

Session 8 Strategically marketing the power of brands

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Session 8 Strategically marketing the power of brands

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