OBJECTIVE 2.07

PART 1 - Identify company’s brand promise

Hmmmm…..

Why do companies develop brands? How do they come up with brands? What makes a brand successful?

WHAT IS A BRAND? Brand: is all of the impressions and

experiences consumers associate with a company, a product, or a service. Brands relate to customers on an emotional and rational level.

A brand is a name, term, symbol, design, or combination thereof that identifies a seller’s products and differentiates them from competitors’ products.

What is a Product Brand?

A name, term, symbol or design that identifies a product and distinguishes it from a competitor.

Product brands are trade names, brand names, brand marks, and trade characters.

Types of brands

Manufacture Private Family Individual

Characteristics Effective Brands

Easy to read, pronounce, and remember Create appealing images Distinctive Adaptable Appropriate packaging and advertising Known benefits from products Legally available

Why create a brand?

Product is easily identified If you have $ to Promote… Could be more profitable Build loyalty and recognition Creates jobs!!!!

Steps to brand creation

Brainstorm ideas Set objectives Brand acceptance across cultures Test Marketing Legal issues Research names & Web addresses Choose the best brand name for product

Brand strategies

Positioning Extension Licensing Co-Branding

The differences between modern brands & classic brands are profound.

Classic brands

Delivering a promise

Internal structure

Singular consistent messages

Communicate an image

Trust through authority

Strive for perfection

Controlling

Marketing as a layer

Create a transactional relationship

Modern brands

Guided by a purpose

Internal culture

Multiple coherent ideas

Deliver an experience

Trust through transparency

Progress by iterating

Empowering

Marketing is built-in

Create a community

WHAT IS BRAND PROMISE?

+ = what your business will consistently deliver to the customer, the statement that you make to customers that identifies what they should expect

This establishes your customers’ expectations for the quality and consistency of their experiences with your business.

What do these brands promise?

FORD Volvo Ollie's Allstate

First Alert Michelin Scrubbing Bubbles Timex Watches

CONTINUED BRAND PROMISE….

Businesses want to control perceptions, thoughts, and feelings customers have about them.

It provides guidance to employees as they interact with customers daily.

A brand must promise a relevant, compelling and differentiated benefit to the target customer.

CONTINUED BRAND PROMISE….

What does your business do better than anyone else?

What does your business have, done, or provided that your competitors don’t?

What makes your business unique?

WHAT IS THE IMPORTANCE OF A COMPANY’S BRAND PROMISE?

A company’s brand promise establishes a base line of customer service to be expected.

It reflects the core values of the company and should be demonstrated by every employee throughout the company.

This has a direct impact on the customer’s experiences with the company; thus, developing a long term business relationship with customers.

OBJECTIVE 2.07

PART 2 - Reinforce company’s image to exhibit the company’s brand promise

What can affect Brand name?

Bad publicity Health scare Disaster Miracle Endorsement

WHAT ARE FACTORS IMPACTING A COMPANY’S BRAND PROMISE?

Brand Champion is the one that analyzes the business’s strengths. Brand Champion is the CEO or manager.

100% commitment to core values starts at the top. From the CEO to the mailroom clerk or doorman, customers need to know they are the first priority. The champion keeps the brand alive throughout the company.

WHAT IS A VISION AND MISSION STATEMENT?

Mission statement: is a brief summary of what you want your business to be doing.

Vision statement: is what your business will become. Review your business plan for valuable brand

clues. Understand your customer’s wants and needs. Understand the core values of the business. Consider your brand internationally and on the

internet. 

WHAT IS COMPANY/CORPORATE IMAGE?

A corporate image is the perception that the general public holds about a particular business.

Many companies invest a great deal of time and other resources in an effort to influence the opinion that consumers hold about the products offered by the business, as well as the business itself.

CONTINUED COMPANY IMAGE…

Images could be based on so many different characteristics such as quality of products, solid and long positive reputation of the company, highly trained sales team, lowest prices in town, integrity of staff, long standing positive community relations, and customer service.

CONTINUED COMPANY IMAGE… Image is be based on:

A) quality of products B) solid and long positive reputation C) highly trained sales team D) lowest prices in town E) integrity of staff F) positive community relations G) customer service.

CORPORATE IMAGE CONTINUED…. One of the most basic ways of shaping a

corporate image is establishing and maintaining positive relationships with the general public.

This effort usually begins by offering products that successfully meet the needs of customers, thus generating goodwill.

WHY IS COMPANY IMAGE SO IMPORTANT?

Companies with strong corporate images have an advantage in the market place because their names add value to their products and reduces uncertainty in the eyes of distributors, retailers and consumers.

HOW CAN EMPLOYEES REINFORCE COMPANY IMAGE?

Employees should be trained and motivated to project a positive image of the company.

From training employees on answering telephones, how daily decisions are made, to establishing dress code requirements shows that companies understand how important communicating a positive image is to the company’s success

Management and employees work together to convey a positive image

EMPLOYEES & BRAND IMAGE CONTINUED… Employees are walking, talking demonstrations of

brand values everyday in everything they do.

Employees connect brand values with customers through touch points (= all opportunities that businesses have to connect with customers and reinforce brand value) to make brands come alive.

Employees both reflect brand values and help shape them.

Think About It… Describe the dress code for principals and

teachers.

Describe the dress code/personal appearance, & demeanor for an employee of Biltmore Estate

Describe the dress code and personal appearance requirements for an employee of Belk.

Describe the image of Hot Topic

Describe the image of Abercrombie & Fitch