Seminar3
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This document discusses branding services and concepts. It outlines the objectives of considering branding, who creates brands, and brand extensions. It defines what a brand is and discusses how strong brands provide value through customer loyalty and premium pricing. The document examines how the world's most valuable brands deliver on promises to their target markets and maintain consistency. It explores how positioning, brand essence, and core values are developed and stresses the importance of consistency across all brand touchpoints and customer feedback.
Seminar3
- 1. ECEW 22-23 May 2012 The Challenges of Services Branding Professor Alan Wilson
- 2. ECEW 22-23 May 2012 • To consider the concept of branding • To understand who creates the brand • To consider brand extensions Objectives 2
- 3. ECEW 22-23 May 2012 A strong brand is an identifiable product or service augmented in such a way that potential buyers or users perceive it to have relevant, unique added values which match their needs and aspirations.
- 4. ECEW 22-23 May 2012 The goal of Rolex’s branding and advertising is not only to sell Rolex products, but also to make those who have the means to buy a Rolex happy that others, who do not have the means to do so, know what Rolex means.
- 5. ECEW 22-23 May 2012 • On average, companies with strong brand identities consistently outperform their key stock market indices ( particularly in service industries) • A strong brand generates revenues and sustains earnings by giving customers reasons, emotional and rational, to purchase from that company again and again. • A strong brand ensures a level of security, premium pricing and greater market share Value of Brands
- 6. ECEW 22-23 May 2012 • The specific meaning that a brand creates and communicates: The Target Market Functional Needs ( quality, convenience, ease of use) Symbolic/ Emotional (friendly, serious, professional) Experiential needs (I am important, trendy, young) The Brand Concept
- 7. ECEW 22-23 May 2012 Brand Equity • The value of the goodwill that an established brand has built up over the period of its existence • loyalty, awareness, positive attitudes
- 8. ECEW 22-23 May 2012 The World’s Most Valuable Brands • Apple • Google • Coca Cola • IBM • Microsoft • GE • Samsung • Toyota • McDonalds • Mercedes source: Interbrand 2014 Why? Deliver what’s promised to their target markets Consistency in everything they do
- 9. ECEW 22-23 May 2012 The Brand Iceberg Logo/ Name Advertising Operations PersonnelComplaint Handling Brand Communications Customer Experience
- 10. ECEW 22-23 May 2012 Consistency through all Brand Touchpoints • Advertising • Word of Mouth • Employees • Social Media • Review Sites • Web-site • News Stories • Signage • Product • People build brands as birds build nests, from scraps and straws they chance upon. Jeremy Bullmore
- 11. ECEW 22-23 May 2012 Consistency and Integration
- 12. ECEW 22-23 May 2012 Who creates a brand? • Branding is not simply something that is done to consumers - consumers place a perceived meaning on a brand. • The company may try to influence these perceptions but they cannot control them.
- 13. ECEW 22-23 May 2012 The Brand Cycle Brand Market Perceptions Organisation’s Inputs Brand
- 14. ECEW 22-23 May 2012
- 15. ECEW 22-23 May 2012 Positioning - Designing the brand’s offering and image to occupy a distinctive place in the minds of the target market • What categories of service should we compete against? • Who is active in these categories? • How do customers evaluate services in this market? • What are the unique points of difference that are important to the target market?
- 16. ECEW 22-23 May 2012 Brand Essence / Core Values • An abstract idea or sentence summarising what is the heart and soul of the brand. • Should stay the same over time • No marketing actions should compromise the brand essence
- 17. ECEW 22-23 May 2012 Core Brand Values • IKEA – Common Sense and Simplicity – Dare to be Different – Work together • Virgin – Quality – Innovation – Value for Money – Fun – Sense of Challenge
- 18. ECEW 22-23 May 2012 Are the Core Values? • Relevant • Distinctive • Believable • Communicable • Sustainable
- 19. ECEW 22-23 May 2012 Relevance of Core Values: Lifestyle Brands? • McDonalds Hotel Zurich • Cheval Blanc Hotel with Givenchy Spa in Courcheval • Swatch Beijing • Giorgio Armani Hotel, Dubai • Bvlgari Milan
- 20. ECEW 22-23 May 2012 • Until consumers are brand aware they use clues to evaluate brands: – Price – Location – Menu – Number of Customers – Reviews Clues to Evaluate Restaurant Brands 20
- 21. ECEW 22-23 May 2012 Ensuring Brand Consistency with Customer Feedback
- 22. ECEW 22-23 May 2012 • Customer Satisfaction Surveys • Focus Groups/ Depth Interviews with Customers and Staff • Storytelling/Critical Incident Technique • Mystery Shopping • Customer Effort Score • Net Promoter Score Listen to Feedback
- 23. ECEW 22-23 May 2012 Net Promoter Score (NPS)
- 24. ECEW 22-23 May 2012 Net Promoter Score • Good for keeping score • May identify problem areas/ touchpoints • Doesn’t really identify potential improvements and how to address touchpoints • To maintain response rates must demonstrate resultant changes/ improvements
- 25. ECEW 22-23 May 2012 Other Sources of Feedback – Review Sites
- 26. ECEW 22-23 May 2012 IN SUMMARY • Branding is more than logos and names • Consistency needed in communication and delivery • Branding a service experience • Awareness of the components of the experience, setting standards, training and communicating internally
- 27. ECEW 22-23 May 2012 Remember: It is consumers’ perceptions of your service that determine your true brand values
- 28. ECEW 22-23 May 2012 Best Western