Global Branding Strategy: Process and Payoff, Part 1 Brand Analysis
Steps in Brand Analysis 1. Brand Meaning 2. Brand Positioning 3. Brand Mantra Knowledge structures Themes Elements Points of parity Points of difference Competition Emotional modifier Rational modifier Brand functions
Starbucks Engages Both Right and Left Brains
Step 1: Understand Brand Meaning Outline Brand Knowledge Structure Reflects the reality of the brand in terms of consumer perceptions, thoughts, feelings, images, experiences, etc. Identify Core Brand Values Set of abstract associations that characterize the 5-10 most important aspects or dimensions of a brand
Brand Knowledge: Mental Maps Create a mental map by asking target customers for their top-of-mind brand associations When you think of this brand, what comes to mind? Attributes and benefits Imagery and emotions Brand elements
Example: Starbucks Knowledge Structure sophisticated Seattle wholesome relaxing experience comfortable treat/reward green color Starbucks coffee consistent convenient/everywhere predatory quality fresh faddish/trendy exotic variety customized expensive snobbish/pretentious inviting logo
Determining Core Brand Values Maximize the coverage of the mental map to include all relevant associations while making sure each core brand value is as distinct as possible. Include associations that represent the company s values even if consumers do not articulate them.
Back to Starbucks sophisticated Seattle wholesome relaxing experience comfortable treat/reward green color Starbucks coffee consistent convenient/everywhere predatory quality fresh faddish/trendy exotic variety customized expensive snobbish/pretentious inviting logo
Starbucks Core Brand Values Fresh, high quality coffee Rich sensory experience Relaxing, rewarding moments Varied, exotic coffee drinks Convenient, friendly service Fairly priced QUALITY EXPERIENCE INDULGENCE VARIETY CONVENIENCE VALUE Responsible, locally involved COMMUNITY
Step 2: Create Competitive Brand Positioning Points of parity Points of difference Competitive frames of reference
Points of Parity (POP) Category: Does your brand come to mind when the category is activated? Commonality: What is common across all brands in the category? Competitive: Can you neutralize the competitor s point of difference?
Points of Difference (POD) Is there a unique POD? Is the POD relevant to the target? What are the proof points?
Starbucks POP/POD at Launch sophisticated wholesome green color POD = relaxing experience Seattle Coffee = POP consistent comfortable treat/reward Starbucks convenient/everywhere predatory fresh POD = quality exotic variety customized expensive faddish/trendy snobbish/pretentious inviting logo
Starbucks POD Now Quality has become a point of parity as many have closed the taste gap Need to keep raising the bar on experience-based proof points: Comfy chairs Music Wi-Fi What s next?
Step 3: Define the Brand Mantra Short (three- to five-word phrase) that captures the irrefutable essence or spirit of the brand Brand mantra must clearly delineate what the brand is supposed to represent and therefore, at least implicitly, what it is not
Starbuck s Brand Mantra Rich, rewarding coffee experience
Summary Brand Meaning Brand Positioning Points of parity Points of difference Competitive frames of reference Brand Mantra
Looking Ahead Brand Ideals
Summary Core concepts: Definition of Entrepreneurship Key Characteristics of Entrepreneurs 5 Questions to Ask Ideation Next Step: Opportunity Recognition