Brand Management 2

Strategic Brand Management
WELCOME! Class #6 Soni Simpson
Brand Value Chain & Testing

Evaluating
the Mayo Clinic
600k + in- and out-patients/yr Founded in 1800 by Dr William Woral Mayo & two sons. Pioneered group practice = Two heads are better than one Two extension facilities in 1980s (Scottsdale,Jacksonville) Mayo Graduate School of Medicine one of largest graduate
education centers

Evaluating
the Mayo Clinic
Worldwide leader in patient care, research and education Renowned for world class specialty care Earned a reputation as world class specialty care Most medical staff participate in research 1950 Nobel Prize winners, Drs Kendall and Hench
discovered Cortisone

Use
The Brand Value Chain to determine Measurement Tactics and Resulting Marketing Strategies
Value Stages
Marketing Program Investment

-Product -Communication -Trade -Employee -Other
Customer Mindset
-Awareness -Associations -Attitudes -Attachment -Activity
Market
Performance
Shareholder
Value
-Stock Price -P/E Ratio -Market Capitalization
-Price Premiums -Price Elasticities -Market Share -Expansion Success -Cost Structures -Profitability

Evaluating
the Mayo Clinic 96 Brand Equity Study
Awareness
84.3%, 90+% among 45+ Specialty ranking Top ranked at 15.4% (next at 5.3%) ..go anywhere in US for serious condition which required highly specialized care.. Strongest Brand Associations 1) Scientific Research, 2) Cancer Treatment, 3) Cardiac Care

Evaluating

the Mayo Clinic 96 Brand Equity Study
Associations (Thoughts & Feelings)

Integrity (longevity, heritage, wisdom of staff, trust in institution), Leadership (modernity, premium quality, international prestige) Professionalism (staff held high standards, were intellectually sophisticated and efficient) Commitment to health & healing (reputation for medical discoveries, preventative medicine, tangible results) Exclusivity
No Negative Associations

Evaluating
the Mayo Clinic 96 Brand Equity
Study
Product Perception ISSUE Outside Midwest perception of only for rich/famous Known for Tertiary Care (Not primary family care) Thus, not like me

Use
Value Stages
Customer Mindset
Market
Performance
Shareholder
Value
Multipliers
Program Quality
-Clarity -Relevance -Distinctiveness -Consistency
Marketplace Conditions
-Competitive reactions -Channel Support -Customer size & Profile
Investor Sentiment
-Market Dynamics -Growth Panel -Risk Profile -Brand Contributions

Use
Value Stages

Customer Mindset
Market
Performance
Shareholder
Value

Evaluating
the Mayo Clinic 96 Brand Equity
Study
Communication Word of Mouth is influential in selecting specialty care 1/3 know at least one Mayo patient

Evaluating
the Mayo Clinic 96 Brand Equity Study CONCLUSIONS

Mayos Brand Equity is Powerful and Precious As perceived by patients and consumers, Mayos Essence:
Excellence The best medical, personal and technical expertise in patient care and education Care Compassionate patient care and education resulting in physical, mental and emotional well-being Cooperation Care and education in cooperative and inclusive relationships among colleagues and with the patient, the patient, the patients family and consumers Enlightenment (Wisdom) Commitment to pioneering knowledge, insight, and truth through research and education

Evaluating

Mayos Brand Equity is Powerful and Precious By living out these standards fully and
consistently, the Mayo clinic had engendered in patients and consumers a sense of confidence, safety, hope and serenity
Brand Development
Consumer Driven Marketing Cycle
Succeed And Improve Assess Performance Map the Marketspace Select Most Valuable Customers
Actions
Execute the Tactical Plan
Strategies Tactics
Choose a Winning Positioning Brand saturation High Cost
Define Performance Measures
Build Operational Capabilities
Create the Tactical Plan

Mark Kerback, Kerback & Company

Evaluating

A Satisfied national patient base is VITAL to maintaining preference Vital to developing guidelines that protected the brand 1999 created Office of Brand Management
Responsible for the protection & enhancement of the Mayo Clinic brand (+ monitoring) Developing Brand Management Guidelines & a Positioning statement Implementing a Branding System (include education) Build awareness of Brand Management within the organization Research extension opportunities & risks

Evaluating

Example of Brand Management Guidelines: Each new/existing Mayo Clinic branded product, service or business relationship meets 4 criteria:
Using name must be owned by Mayo or under full control Use to solely assure success of service/product not appropriate Not to be used in a manner that trivalizes the name/institution Not shared or sold

Get
to the Consumer Insight/Core Value by
Laddering up to it Keep asking WHY, WHY, WHY
Is
Mayo Resonating with Consumers Central Beliefs/Core Values? What Consumer Insight might they center their equity on?
FINAL GROUP CASE STUDY PROJECT Due November 15th

New Brand Development Project (due WK10) Work in Four Groups of 2 and select from product categories provided Develop a new brand marketing plan in an existing category (Use framework attached) Develop the key insight, concept & positioning Ensure the following are ALSO included:

Your VISION Launch Rationale Business analysis (Competitive and market analysis, SWOT etc) Target audience, Key Competitive insights and Core Values (use CBBE Pyramid) Projected share and financials (supported, P&L examples to be provided) Proposed Marketing Objectives, Strategies and Tactics

RECOMMENDED TIMETABLE Select groups and categories Oct18th (data up Oct 20th); assign group tasks; conduct research searches Oct 25th : Out line marketing plan to share with the group; Nov 1st: Having reviewed available data; hypothesize financials, consumer insights, positioning and concepts (can turn in roughs to prof for feedback) Nov 8th: Draft marketing plan deck and begin conversion to power point presentation Nov 15th: Turn in completed plan and conduct presentations. FINISHED PRODUCT: One 10-15 Minute presentation (docked a grade if over 15 minutes!!) One marketing plan document (main text to be NO MORE than 5 pages.. Appendix with charts, graphs, data and research encouraged) Visuals encouraged.
Your Marketing Plan

Purpose
Define your core objectives, strategies and tactics in concise summary Management selling tool for brand investment Document and sell or acknowledge results Provide solid, focused direction to corporation and brand support Define Brand evaluation objectives Live Working Document
Measuring Brand Equity

Objective: To guarantee assets/liabilities are nurtured and managed (loyalty, awareness, perceived quality, propriety brand assets) Develop Focused Master Plan Create Long term Strategic Orientation
Brand Marketing Process

Measure Brand Equity
Financial Health
Analysis & Long Term Strategy
Marketing Mix
Business Analysis
SWOTs
Market & Competitive Trends Consumer Insights
Strategic Implications & Strategy Development

Core Competencies, External Opportunities Brand Vision Brand Strategy Strategic Role
Establish Positioning Concept
Three Year and ANNUAL Objectives
Annual Plan & Execution
What do I want to Accomplish Objectives Should be S.M.A.R.T
ANNUAL STRATEGIES
How will the objectives be achieved?
Marketing Plan Execution

Market Research Consumer & Retailer Promo Public Relations Physical Product Package Pricing Advertising Media Functional Objectives & Strategies And Tactical Plan

Analysis & Long Term Strategy Analysis & Long Term Strategy
Financial Health
Marketing Mix
Business Analysis
SWOTs


ANNUAL STRATEGIES

Market Research Consumer & Retailer Promo Public Relations Physical Product Package Pricing Functional Objectives & Strategies And Tactical Plan
Advertising Media

Financial Health
Analysis & Long Term Strategy
Marketing Mix
Business Analysis
SWOTs

ANNUAL STRATEGIES

Market Research Consumer & Retailer Promo Public Relations Physical Product Package Pricing Advertising Media Functional Objectives & Strategies And Tactical Plan

Market Trends Checklist
Market Conditions
Household Pentration Seasonality Regionality (CDI/BDI)
Retail Conditions
Volume & Share
Industry definition & served market Category Size & growth rates Category Segmentation, trends, importance to category Share of market by brand & by segment
Channels of Distribution Product Sourcing/availability Importance of the category to the retailer Retailer focus on private label Retailer influence over category marketing activity
Consumer Conditions
Substitute products Changes in tastes/attitudes/needs
Government Conditions Regulations & Reqs. Legislative issues

Assessing
Competitive Trends
Competitor Identification Key direct competitors Competitive Scope: Regional/National/Global
Importance in portfolio Level of product activity Level of marketing focus Financial resources
Competitor Focus
Competitive Financials
Advantage
P&L analysis Cost Structure Spending Profitability
Competitive Strategy
Overall mission/priorities Target Audience Brand Turf/Positioning Class of Trade (COT) importance

Use
Value Stages

Customer Mindset
Market
Performance
Shareholder
Value

Use
Value Stages
Customer Mindset
Market
Performance
Shareholder
Value
Multipliers
Program Quality
-Clarity -Relevance -Distinctiveness -Consistency
Marketplace Conditions
-Competitive reactions -Channel Support -Customer size & Profile
Investor Sentiment
-Market Dynamics -Growth Panel -Risk Profile -Brand Contributions

SWOT Purpose: to guide thinking and help distill the key issues and opportunities facing the Brand AND the category Can be done in competitive analysis
STRENGTH
Inherent source of competitive advantage within the Brand (of genuine relevance to the consumer)
WEAKNESS
Inherent cause of competitive disadvantage within the Brand (of genuine importance to consumer)
INTERNAL to the brand Caused by the inherent nature of the Brand or our management of it

SWOT Purpose: to guide thinking and help distill the key issues and opportunities facing the Brand AND the category Can be done in competitive analysis
EXTERNAL to the brand Markets, competitors, retail, social trends etc
OPPORTUNITY
Unsatisfied or poorly satisfied need in the marketplace which our company can perform profitability
THREAT
Potential problem from external source which could undermine our Brands competitive position if not addressed.
Consumer-Based Brand Equity Pyramid

ConsumerBrand Resonance Consumer Judgments
Consumer Acceptance Cycle
THIS is Where the Insight Lives
4 Intense, Active Loyalty
Consumer Feelings Brand Imagery
3 Positive Accessible Reactions
Brand Performance
2 Points of Difference
Brand Salience
1 Deep Broad Brand Awareness
Consumer-Based Brand Equity Pyramid

Resonance Judgments
Performance
Loyalty Attachment Community Engagement Quality Credibility Consideration Superiority
Brand Characteristics & Secondary Features Product Reliability, Durability & Serviceability Service Effectiveness, Efficiency, & Empathy Style and Design; Price
4 Brand Relationships (WHAT About You AND ME?)
Warmth, Fun Excitement, Security, Social Approval, Self-Respect
Feelings
3 Brand Response (WHAT About You?)
User Profiles Purchase and Usage Situations Personality & Values History, Heritage, & Experiences
Imagery
2 Brand Meaning (WHAT Are You?)
Category Identification Needs Satisfied
1 Brand Identity (WHO Are You?)
Salience
Insight to Positioning
State the thought you wish to implant in your targets mind: TO (core target audience), (Brand Name), Power IS THE (frame of reference) Positioning LINKS to THAT (owned benefit) Consumer Insight BECAUSE (support or reason to believe)
Introducing (Brand Name) Succinct insight driven benefits (benefit statement)

Consumer
Insight statement (AHA not
fact). Introducing New Brand. What it does (relevant core benefit to consumer). Reason to believe (how/why it does what it does).
Reprise
of positioning in closing tag.
Your Marketing Plan

Fundamental
Statement of Purpose
What do I want to do (grow X% to $$) Objectives must be SMART Specific Measurable Appropriate Realistic Timebound Long Term and Short term
Brand Development
Consumer Driven Marketing Cycle
Consumer Insight: Singularly focused need, desire or want Strategies: Fact Based choices on who, how and why Tactics: Activities/capabilities what, where and when Actions: Execution, feedback, assessment, and improvement
Actions
Strategies
Brand Tactics saturation High Cost
Mark Kerback, Kerback & Company
YOUR MARKETING PLAN

What
is your Big Inspiring Vision? How will your consumer insight translate across ALL elements of your plan?
Positioning Brand Essence Strategies and Tactics
WHO
is your target REALLY (pscyh, demo) In your SWOT: What is going on competitively and in the Market Place? WHY should I invest in your launch????????
THANK YOU! Class #6 Soni Simpson

Brand Management 2

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Strategic Brand Management

WELCOME! Class #6 Soni Simpson

Brand Value Chain & Testing

the Mayo Clinic

Brand Value Chain & Testing

the Mayo Clinic

Brand Value Chain & Testing

Marketing Program Investment

Brand Value Chain & Testing

the Mayo Clinic 96 Brand Equity Study

Brand Value Chain & Testing

the Mayo Clinic 96 Brand Equity Study

Associations (Thoughts & Feelings)

Brand Value Chain & Testing

the Mayo Clinic 96 Brand Equity

Brand Value Chain & Testing

Marketing Program Investment

Brand Value Chain & Testing

Marketing Program Investment

Brand Value Chain & Testing

the Mayo Clinic 96 Brand Equity

Brand Value Chain & Testing

the Mayo Clinic 96 Brand Equity Study CONCLUSIONS

Brand Value Chain & Testing

the Mayo Clinic 96 Brand Equity Study CONCLUSIONS

Define Performance Measures

Build Operational Capabilities

Create the Tactical Plan

Brand Value Chain & Testing

the Mayo Clinic 96 Brand Equity Study CONCLUSIONS

Brand Value Chain & Testing

the Mayo Clinic 96 Brand Equity Study CONCLUSIONS

Brand Value Chain & Testing

to the Consumer Insight/Core Value by

Laddering up to it Keep asking WHY, WHY, WHY

Strategic Brand Management

FINAL GROUP CASE STUDY PROJECT Due November 15th

Strategic Brand Management

Strategic Brand Management

Your Marketing Plan

Measuring Brand Equity

Brand Marketing Process

Analysis & Long Term Strategy

Market & Competitive Trends Consumer Insights

Strategic Implications & Strategy Development

Establish Positioning Concept

Three Year and ANNUAL Objectives

Annual Plan & Execution

What do I want to Accomplish Objectives Should be S.M.A.R.T

Marketing Plan Execution

Brand Marketing Process

Market & Competitive Trends Consumer Insights

Strategic Implications & Strategy Development

Establish Positioning Concept

Brand Marketing Process

Establish Positioning Concept

Annual Plan & Execution

Marketing Plan Execution

Brand Marketing Process

Analysis & Long Term Strategy

Market & Competitive Trends Consumer Insights

Strategic Implications & Strategy Development

Establish Positioning Concept