StrategicBrandManagement:Building,Measuring,andManagingBrandEquityFifthEditionChapter9DevelopingaBrandEquityMeasurementandManagementSystemCopyright?2020,2013,2008PearsonEducation,Inc.AllRightsReservedLearningObjectives(1of2)9.1 DescribethenewaccountabilityintermsofROMI(ReturnonMarketingInvestment)9.2 Createanunderstandingofanalyticsdashboardsasatoolformonitoringperformanceandtheimplicationsofbrandinvestments9.3 OutlinethetwomainstepsinconductingabrandauditandhowtoexecuteadigitalmarketingreviewLearningObjectives(2of2)9.4 Describehowtodesign,conduct,andinterpretatrackingstudy9.5 IdentifythestepsinimplementingabrandequitymanagementsystemTheNewAccountability(1of2)VirtuallyeverymarketingdollarspenttodaymustbejustifiedasbotheffectiveandefficientintermsofReturnonmarketinginvestment(ROMI)IncreasedaccountabilityHasforcedmarketerstoaddresstoughchallengesDevelopnewmeasurementapproachesTheNewAccountability(2of2)ConductingBrandAuditsBrandInventoryBrandExploratoryBrandPositioningandtheSupportingMarketingProgramConductingBrandAudits(1of2)BrandauditComprehensiveexaminationofabrandtodiscoveritssourcesofbrandequityConsistsoftwostepsBrandinventoryBrandexploratoryConductingBrandAudits(2of2)MarketingauditIndependentexaminationofacompany’smarketingenvironment,objectives,strategies,andactivitiesAgreementonobjectives,scope,andapproachDatacollectionReportpreparationandpresentationBrandInventory(1of2)FirststepinthebrandauditPurposeofthebrandinventoryProvideacurrent,comprehensiveprofileofhowallproductsandservicesaremarketedandbrandedProfilingeachproductorservicerequiresmarketerstocatalogue:VisualandwrittenformforeachproductorservicesoldTheinherentproductattributesorcharacteristicsofthebrandPricing,communications,anddistributionpoliciesBrandInventory(2of2)Adigitalinventoryofbrandassetsmayprovideusefulinsights:OutdatedbrandaccountsthathavefallenintodisuseOverlappingbrandassetswhichcanbemergedordeletedExistingbrandaccountswithinformationthatiseitherinaccurateornotup-to-dateParticulardigitalandsocialmediachannelswherethebranddoesnothaveapresenceBrandExploratory(1of3)SecondstepofthebrandauditProvidesdetailedinformationaboutwhatconsumersactuallythinkofabrandResearchdirectedtounderstandingwhatconsumers:ThinkandfeelaboutabrandActtowarditHelpsidentifysourcesofbrandequityandpossiblebarriersBrandExploratory(2of3)Threecriteriatojudgequalitativeresearchtechniques(accordingtoLevy)DirectionDepthDiversityFigure9.2SummaryofQualitativeTechniquesFreeassociationAdjectiveratingsandchecklistsConfessionalinterviewsProjectivetechniquesPhotosortsArchetypalresearchBubbledrawingsStorytellingPersonificationexercisesRoleplayingMetaphorelicitation*Day/BehaviorreconstructionPhoto/WrittenjournalParticipatorydesignConsumer-ledproblemsolvingReal-lifeexperimentingCollaginganddrawingConsumershadowingConsumer–productinteractionVideoobservation*ZMETtrademarkFigure9.3AClassicMTVMentalMapBrandExploratory(3of3)DigitalmarketingreviewCanprovideimportantinputtoabrandauditCouldhelpgenerateusefulinsightsregardingabrand’sonlinepresenceOffers:Figure9.4SampleMayoClinicBrandConceptMapBrandPositioningandtheSupportingMarketingProgramIdealbrandpositioningaimstoachievecongruencebetween:WhatcustomerscurrentlybelieveaboutthebrandWhatcustomerswillvalueinthebrandWhatthefirmiscurrentlysayingaboutthebrandWherethefirmwouldliketotakethebrandFigure9.5JohnRoberts’sBrandPositioningConsiderationsDesigningBrandTrackingStudiesBrandtrackingstudiesCollectinformationfromconsumersOnaroutinebasisUsuallyquantitativeOnanumberofkeydimensionsthatmarketerscanidentifyinthebrandauditWithbrandextensionsoradditionalcommunicationmethodsBecomesdifficultandexpensivetoresearchYetnecessaryWhattoTrackProduct-BrandTrackingMaywanttofirstaskconsumerswhatbrandscometomindNextaskforrecallofbrandsThentestsofbrandrecognitionCorporateorFamilyBrandTrackingMaywanttotrackcorporationorfamilybrandseparatelyorconcurrentlywithindividualproductsGlobalTrackingMayneedabroadersetofbackgroundmeasureforglobaltrackingFigure9.6(1of2)BrandContextMeasuresEconomicIndicatorsGrossdomesticproductInterestratesUnemploymentAveragewageDisposableincomeHomeownershipandhousingdebtExchangerates,sharemarkets,andbalanceofpaymentsRetailTotalspentinsupermarketsChangeyeartoyearGrowthinhousebrandTechnologyComputerathomeDVRAccesstoanduseofInternetPhonesPDAMicrowavesTelevisionPersonalAttitudesandValuesConfidenceSecurityFamilyEnvironmentTraditionalvaluesForeignersvssovereigntyMediaIndicatorsMediaconsumption:totaltimespentwatchingTV,consumingothermediaAdvertisingexpenditure:total,bymediaandbyproductcategoryDemographicProfilePopulationprofile:age,sex,income,householdsizeFigure9.6(2of2)BrandContextMeasuresGeographicdistributionEthnicandculturalprofileOtherProductsandServicesTransport:owncar—howmanyBestdescriptionofcarMotorbikeHomeownershiporrentingDomestictripsovernightinlastyearInternationaltripsinlasttwoyearsAttitudetoBrandsandShoppingBuyonpriceLiketobuynewthingsCountryoforiginormanufacturePrefertobuythingsthathavebeenadvertisedImportanceoffamiliarbrandsBigDataandMarketingAnalyticDashboardsTrovesofdataexistCanenablecontinuoustrackingofcustomersMarketinganalyticdashboardSystemsandprocesseswithinanorganizationtocommunicateimportantmetricsAndmakethemavailablethroughoutanorganizationEstablishingaBrandEquityManagementSystemBrandCharterorBibleBrandEquityReportBrandEquityResponsibilitiesBrandCharterorBibleFirststepinestablishingabrandequitymanagementsystemFormalizesthecompanyviewofbrandequityintoadocumentBrandcharter(orbrandbibleassometimescalled)ProvidesrelevantguidelinestomarketingmanagersandkeymarketingpartnersShouldbeupdatedannuallyBrandEquityReportSecondstepinestablishingasuccessfulbrandequitymanagementsystemAssembleresultsofthetrackingsurveyandotherrelevantperformancemeasureforthebrandCreateabrandequityreportorscorecardDistributetomanagementregularlyContentsAbrandequityreportshoulddescribe:Whatishappeningwiththebrand?Whyisithappening?Shouldincludemoredescriptivemarket-levelinformationBrandEquityResponsibilities(1of2)ThirdstepinestablishingasuccessfulbrandequitymanagementsystemClearlydefineorganizationresponsibilitiesandprocesses