Bill McComb, the CEO of Kate Spade, and Sarah Payne (UVA ’05), the Manager of Financial Planning & Analysis and Investor Relations launched the Kate Spade Saturday project for the Customer Analytics and Brand Strategy class this week. We are looking forward to get to know the ‘Saturday’ girl and come up with the strategies to make her more popular.
There are several concepts and theories which can be applied to business as well as to you as an individual to manage your personal success. Keller’s Brand Equity Pyramid(BEP) is one of the most effective tools which can be applied to your business and, more importantly in our situation, to you as a person. In this post I am going to cover the Brand Equity Pyramid and its usefulness in everyday life. The pyramid represents a step by step process which flows from the bottom of the pyramid to the top (see picture above). All the quadrants in the pyramid represent criteria for your public success which apply through your day to day interactions at work, home, and outside. By working and improving each criteria or a quadrant in the pyramid, a person can reach the top of the pyramid (brand equity) which is the most important aspect…
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Audi’s brand is smooth. It’s characterised by cool, product quality, sophistication and more than a pinch of panache. Sure, it can be seem as a little aloof and condescending at times but for the most part it’s highly desirable. The recent A3 launch campaign in the US seems to mark a change in tack. The focus appears to be deriding competing brands such as BMW and Mercedes instead of focusing on the benefits their brand delivers. Whilst Audi is wise to align brand / target market personality and tap into their desired social status it’s hard not to think majoring on negative associations connected with their competitors is a bit of a low blow. It’s taken Audi down a gear or two so to speak. So what can we learn from Audi’s A3 campaign? We think there are two key points:
- “If you throw dirt the only thing you lose…
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The end of standardization has been realized for many years now, and it is even more apparent today as companies compete to break into international markets. We are seeing this with ecommerce companies, sharing services, fashion houses, pharmaceutical companies and a host of other businesses. Achieving international market growth is not easy and involves constant development of product, brand and distribution strategy as well as awareness of the government’s role in the country and the country’s policies and plans.
By evaluating McDonald’s we can learn effective strategies on how to “think global, act local”. Over the years, McDonald’s has continued to innovate its menu and adapt its go-to market system, allowing it to maintain its leading global presence, retain its customers and uphold its reputation as the “Golden Arches”. Many companies are able to break into a new country or environment quickly but fail to tailor their products and services…
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Authentic brands are built from the inside out and effective employee communication is critical to the process. Brands are authentic when their claims align with actual customer experiences. The interaction between an employee who is a champion of the brand and a customer is often that proof point and effective employee communication is often the difference maker.
Employee communication can transform regular employees into brand champions by:
- Clearly articulating what brand behavior looks like and what is expected from employees.
- Making brand behavior personally relevant to individual jobs via real life workplace examples.
- Modeling, celebrating and recognizing good examples of brand behavior.
- Providing employees with key messages that they can use to shape their conversations with customers.
- Explaining business strategies to employees so that they understand not only what to do but why they are doing it.
Consistent, multi-layered and ongoing employee communication can create and sustain brand champions and…
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Last week ING Direct Canada announced that it will be changing its name to Tangerine in the Spring of 2014. ING Direct, the country’s largest online-only bank, is required to change its name within eighteen months from the date of its acquisition under the terms of its sale to the Bank of Nova Scotia back in September, 2012.
- It represents an astute understanding of the leverage and impact that different naming strategies can have on corporate entities
- It ensures the new brand name will quickly be linked to a key aspect of its current visual identity that anchors the brand’s associations in the minds of its customers
Understanding the leverage and impact of naming strategies
In an earlier post, “Choosing a naming strategy for an acquired brand and business
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