EMBA 884: Self Connection and Organizational Drivers

1
EMBA 884 Self Connection and Organizational
Drivers

• The Integrated Branding Model
• Brand Equity

2
Schedule for Today

• ZMET The Zaltman Metaphor Elicitation Technique
• Organizational Drivers
• Mission
• Values
• Story

3
ZMET

• Question
• What are your thoughts and feelings about your
  brand?
• Take your magazines, and collect pictures that
  capture your Teams thoughts and feelings about
  your chosen brand
• Create an SKS using the pictures, pens, and
  gluesticks.
• Organize in any way that you want

4
The Brand (to this point)

• Back to the question that we asked on the first
  day of class
• What is a brand?
• We have defined it as
• Brain space
• A set of associations in memory
• Those associations that create differentiation
  related to the brand in memory, resulting in
  brand equity

5
What is Brand Equity?

• Review
• The differential effect that brand knowledge has
  on consumer response to the marketing of that
  brand
• The unique brain-space that your brand occupies
  in the minds of your customers

6
Brand equity

• Improves perception of product performance
• Makes company less vulnerable to competitive or
  environmental shocks
• Larger margins
• Increase marketing communication effectiveness
• Greater trade cooperation and support

7
How to create brand equity?

• We create brand equity by creating an integrated
  Brand that
• Maximizes the creation of brain-space
• By ensuring that every interaction with our
  company teaches and reinforces the brand promise
• So that our relationships with others will evolve

8
The evolution of Brand equity creation

• Brand equity is created in a progressive fashion
• Establish proper Brand Identity
• Create Brand meaning
• Elicit positive Brand responses
• Forge strong Brand relationship

9
Building Brand Equity 4 Step Summary

• Who are you? (Awareness, Brand Identity)
• What are you? (Brand Meaning)
• What about you? What do I think or feel about
  you? (Brand Response)
• What about you and me? What is our connection?
  (Brand Relationship)

10
How can we measure each of these four stages of
Brand Building?

• Stage 1 Awareness
• What brands of product or service category can
  you think of?
• Have you ever heard of these brands?
• What brands might you likely use under the
  following situations?
• How frequently do you think of this brand?

11
How can we measure each of these four stages of
Brand Building?

• Stage 2 Meaning
• Compared with other brands in this category, how
  well does this brand provide the basic function
  of the product or service category?
• How much do you like the look, feel, and other
  design aspects of this brand?
• To what extent do people you admire and respect
  use this brand?
• How well do Aakers attributes describe this
  brand?
• To what extent do you feel like you have grown
  up with this brand? Does it bring back pleasant
  memories?

12
How can we measure each of these four stages of
Brand Building?

• Stage 3 Response (Judgments and feelings)
• Overall attitudes and opinions of the brand?
• How good a value is this brand?
• To what extent do the makers of this brand
  understand your needs/care about your
  opinions/have your interests in mind?
• Feelings of warmth/fun/excitement/security/self-re
  spect?

13
How can we measure each of these four stages of
Brand Building?

• Stage 4 Resonance (Relationship)
• I consider myself loyal to this brand
• I feel this is the only brand of this product
  that I need
• I love this brand
• I identify with the people who use this brand/I
  feel a connection with the people who use this
  brand
• I am always interested in learning more about
  this brand
• I am proud to have others know that I use this
  brand

14
How does Brand equity connect the past with the
future?

• Past Brand management expenditures are
  investments in what customers learned about the
  Brand
• Can be good or bad investments
• Past investments constrain future directions
• Consumers decide whether a future marketing
  program is acceptable
• Midstream change costs in terms of real dollars
  AND dilution or reconstruction of brain space

15
Brand equity and the IBM

• In order to manage the creation of brand equity
  effectively, we use our IBM

16
The Organization drivers

• Determine the form and direction the brand will
  take the genetic code
• Establish the brand promise that we talked about
  last time
• They tell everyone what our company strengths
  are
• How is our business defined?
• What concepts do we cherish?
• How did we get this way?

17
Organization Drivers

• Mission
• Outlines what business a company is in
• Drives all corporate Brand development
• Values
• The beliefs that your company prizes above all
  else
• Story
• The way to convey meaning and context for your
  customers

18
Mission

• Three questions to determine an effective mission
  statement
• Does it help you get up in the morning?
• Is it easy to understand?
• Can you remember it?

19
Mission

• The mission statement describes what your
  business does
• Future oriented
• Provides boundaries for all brands
• The mission communicates to everyone (inside and
  outside your firm) what you do, as well as what
  you do not

20
Mission review process

• When should you change your mission?
• You should review your mission once a year
• If your mission still accurately defines the
  marketplace and accounts for new directions,
  leave it alone
• When should a mission be reviewed?
• When new trends impact our markets
• When there is concern about whether the products
  ands services that we are developing fall within
  our established mission

21
Mission review process

• What are the criteria for successful changes in a
  firm (generally)?
• Upper management buy-in
• We will look at this during our last session
• The process essentially goes
• Initial input from company opinion leaders
• Each submission is analyzed and reconstructed
  until there is unanimous buy-in
• This does not mean that it is everyones optimal
  choice

22
Criteria for success

• Forward looking
• It is not a vision, as the vision is defined by
  the story
• Clarity
• Focuses, motivates, and defines future directions
• Brevity
• Can you remember it?
• The most basic, most foundational aspects of the
  business
• What are you trying to do for your customers?

23
Some mission statements

• To create software for the personal computer
  that empowers and enriches people in the
  workplace, at school and at home

24
Another mission statement

• We create, develop and manufacture the
  industrys most advanced information
  technologies, including computer systems,
  software, networking systems, storage devices,
  and microelectronics. We have two fundamental
  missions

25
Another mission statement (cont)

• We strive to lead in the creation, development
  and manufacture of the most advanced information
  technologies
• We translate advanced technologies into value for
  our customers as the worlds largest information
  services company. Our professionals worldwide
  provide expertise within specific industries,
  consulting services, systems integration and
  solution development and technical support

26
Mission statement fix

• We create, develop manufacture and support the
  industrys most advanced information
  technologies, including computer systems,
  software, networking systems, storage devices,
  and microelectronics

27
Values

• Beliefs that a company prize above all else
• Drive company actions, ensure continuity of
  corporate culture and help employees live the
  brand
• A value is something that a company holds onto,
  even at the expense of short-term profitability,
  and will not be given up at almost any cost

28
Differences between company values and actions

• Sow employee confusion and dissention
• Empowered employees that are not really
  empowered
• Increase employee turnover and dissatisfaction
• Confuse and increase negative affect with
  customers
• Differences are easily recognized and stored
  components of memory

29
Question

• What is Nordstroms defining value?
• Service
• Take anything back, no questions asked
• Tell me some stories about Nordstroms
• Ahh, yes, but other retailers have the same sort
  of service, correct?
• What is the difference?

30
Do values evolve with business?

• Yes
• New values may be added as a business matures
• And no
• However, the original values should never change
• How many values do we need?
• Should be a very short list
• Some values can have multiple, related meanings

31
Example - Nike

• Performance
• On the track, in the marketplace
• Authenticity
• Commitment
• To our endorsed athletes, to our customers, to
  our shareholders
• Innovation
• In products, and in advertising?
• Teamwork
• In the labs, on the field

32
Story

• The story conveys context and meaning for the
  activities of the company
• Inspire and provide insight
• Guide social, moral, work, and ethical actions
• Keep the collective memories of the firm
• The story answers a number of questions

33
What questions?

• Who are we?
• Where did we come from?
• Where are we going?
• What are we doing here?
• The story shows the organization and brand
  drivers in action

34
What are the best stories?

• Heroic, against all odds, leading to greatness
• Overcoming of obstacles
• Reinforce the beliefs that got us to where we are
  today
• Current employees should see their beliefs about
  the company reflected in the story
• Customers should see their beliefs in the company
  reflected in the story

35
How do we get the best story?

• Criteria
• Passion
• Values
• Vision
• Audience reaction
• Avoid
• Industry speak and jargon
• Passive voice

36
How do we get our story?

• Get employees from all parts of the company to
  tell them the company story
• Take these many renditions and boil them down to
  one
• Take this version and make sure that it fits with
  your values and mission
• We will talk more about this in the last class

37
The Elevator Story

• Boils the story down to
• What you do
• Why you are different
• Should be able to say it when moving 5 floors in
  an elevator
• Try to create an elevator story for your brand

38
B to B Branding

• If I run a B to B company, what good does
  Branding do?
• A positive image and reputation for the company
  as a whole
• Credibility
• Risk reduction heuristic
• B2Bers does risk ever play a part in your
  decision making process?
• Inclusion of an affective component to your brand