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Branding

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by

Irene Merritt

on 30 April 2013

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Transcript of Branding

By Irene Merritt and Laura Berry Brand Difference The AMA defines it as "a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those competitors." What is a brand? Products
People
TV shows
Destinations
Bloggers
Authors
Organizations Difference
Relevance
Esteem
Knowledge 4 Pillars to Branding POD
Points-of-Difference It's not what you say, but how you say it.

Make your message memorable to differentiate.

Make an imprint on the audience.

Send a message that sticks. Branding Differentiation is the contrary; duplication is safe. Reasons Brands Fail Simply put: a brand is a memory
It is what a person stores in their head
about a product, company, or even a person Differentiation: What makes your brand unique? Relevance: How appropriate the difference is to your audience Esteem: How well regarded your organization is Knowledge: How well does your target audience know and understand your organization Desirable to consumer: Needs to be personally relevant Deliverable by the company: Commitment to create and maintain the brand association Differentiating from competitors: Distinctive and superior to relevant competitors

(Kotler Keller, 2012.) Consistency loses to urgency. Long term is dead. Focus is product centric, not consumer centric. Being "nice" is risk averse. Brand Revitalization •Positive associations lose strength or uniqueness.

•Negative associations linked to the brand.

•Ability to deliver on the brand promise. Rebranding Taking an existing brand and reworking it into something different and better than before. Why Rebrand? To accommodate consumers' shifting needs.
To increase or regain market share. Cost to Rebrand $75–100 mm for new consumer new brand roll out.

$40–60 mm to roll out a brand with a relationship to an existing, well-established brand.

$20–30 mm to reposition an existing brand. (MarketingProfs, 2006.) “MySpace is moving back to its original DNA: appealing to self-expressive, creative under-35-year-olds who are into games, music and movies.” (John Swartze, 2011. USA Today.) (Kotler Keller, 2012.) (Experian Hitwise, 2009.) “We found that regardless of how much we improved the product or the marketing message consumers' memories about the brand were too strong to allow them to view Myspace with fresh eyes and an open mind. We could not escape their images of animated GIFs.”

—Mike Jones, former MySpace CEO (The Guardian, 2011.) “In all honesty, it looks pretty cool."
—Ian Steadman, Wired

"Absolutely stunning."
— Sean Ludwig, VentureBeat

“It makes FB look like MS-DOS.”
—Ben Kunz,
Bloomberg Businessweek 2012 Myspace Rebrand (Ad Age, 2012.) (Kotler Keller, 2012.) (Trozzolo, 2012.) (Trozzolo, 2012) (Trozzolo, 2012.)
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