MKTG 473 Strategic Brand Management

Transcription

1 MKTG 473 Strategic Brand Management Neal Roese John L. and Helen Kellogg Professor of Marketing Professor of Psychology (courtesy) Office: KGH 5347 Office Hours: by appointment Course Objective The brand is a powerful tool for creating lasting value for companies and customers. Brands must find the right balance between underleveraging (failing to monetize brand assets via extension or licensing) versus overleveraging (too much extension and licensing can dilute the meaning of the brand). The key output of strategic branding is the brand image, a psychological entity defined as the set of associations stored in the memory of customers minds. The course follows a 5-part structure. Part 1 specifies the brand s role in modern business, including the brand s role in differentiation and targeting, and as well financial valuation of brands versus psychological KPIs. Part 2 centers on brand strategy, with a key focus on defining the value proposition in psychological terms and understanding the target customer using modern psychological theory. Part 3 focuses on brand tactics, with a focus on brand design (e.g., visual design elements, but also the psychological associations intended to build brand meaning). Part 4 focuses on growing the brand, with coverage of designing a brand from scratch (startups), brand extension, and brand portfolio management. Part 5 focuses on leading the brand, with coverage of operational specifics, brand audit, brand culture, and challenges faced by brands in the digital era. Students will learn how to conceptualize, design, and measure brand image, and through case studies will gain experience in making strategic and tactical decisions in managing brands. The course uses a combination of lectures, cases, and exercises. Students will gain competency in concepts that can be used in careers in brand management, but also in consulting, finance, engineering and other career pathways that necessitate interaction with brand managers. Your Professor Neal Roese is the John L. and Helen Kellogg Professor of Marketing at the Kellogg School of Management at Northwestern University and is jointly appointed as Professor of Psychology at Northwestern University. Trained as a social psychologist, his research examines basic cognitive processes underlying choice, focusing on how people think about decision options, make predictions about the future, and revise understandings of the past. In addition to his duties at Kellogg, he consults on legal cases and startup businesses. Professor Roese received his Ph.D. in social psychology from the University of Western Ontario (Canada) and was an undergraduate at the University of British Columbia (Canada). Listen to Professor Roese in this episode of NPR s The Hidden Brain. Page 1 of 6

2 Course Structure Classes are numbered by week. For full-time students, a designates the Tuesday class and b designates the Friday class. For part-time students, a and b are combined into the 3-hour Saturday class. 1. The Business of Branding Class 1a 1.1 The brand s role in modern business 1.2 Framework for strategic brand management Framework specifics. Illustration: Levi s Brand image as key output. Illustration: Fender The brand is a tool for growth. Illustration: Star Wars Class 1b 1.3 The brand image Measuring the brand image. Exercise: United Airlines Managing the brand image. Illustration: United Polaris 1.4 Financial vs. psychological brand valuation Class 2a Psychological KPIs. Illustration: Lay s 2. Brand Strategy 2.1 The psychology of the customer Class 2b Personality: The big The customer decision journey The lifespan. Illustration: BMW 2.2 The value proposition Three kinds of customer value Three kinds of psychological value 2.3 The brand strategy brief. Illustration: Buick 2.4 Managing psychological value Cultural moments. Illustration: Coca-Cola Class 3a Self-expressive value. Illustration: Puma Class 3b 3. Brand Tactics 3.1 Brand design Class 4a Brand referents Brand identifiers The brand book 3.2 Refreshing the brand Class 4b Managing tactical changes. Illustration: Zopa Exam Brand story-telling Branding artistic offerings. Illustration: Jazz at Lincoln Center Class 5a Cultural considerations. Illustration: Miele 4. Growing the Brand 4.1 Repositioning Class 5b Page 2 of 6

3 4.2 Startup branding. Illustration: Aer 4.3 Brand extension Class 6a Brand extension checklist. Illustration: McDonald s Smart brand extension. Illustration: Diesel Brand extension pitfalls. Illustration: Altoids Class 6b (Guest speaker: Michelle Domer, SC Johnson) 4.4 Brand portfolio Class 7a The logic of portfolio design Single-brand portfolio Multi-brand portfolio Portfolio design considerations Smart portfolio management. Illustration: Harley-Davidson Class 7b 4.5 Co-branding and product placement 5. Leading the Brand 5.1 A day in the life of a brand manager Class 8a (Guest speaker: Amanda Carol, Novartis) 5.2 Legal protection of brand assets 5.3 Brand audit Class 8b Assignment: Whole Foods Exam Brand culture. Illustration: Beleza Class 9a 5.5 Branding in the digital era Class 9b 5.6 Capstone case: L Oreal Class 10a 5.7 Course summary. Illustration: Canada Goose Class 10b Page 3 of 6

4 Weekly Readings and Assignments Week 1 Reading: Chernev, chapters 1 and 2 Week 2 Reading: Chernev, chapter 3 Week 3 Reading: Coca-Cola case (Class 3a) Assignment: Coca-Cola case questions Reading: Puma case (Class 3b) Assignment: Puma case questions Week 4 Reading: Chernev, chapter 4 Reading: Zopa case (Class 4b) Assignment: Zopa case questions Exam: #1 (Class 4b) Week 5 Reading: Chernev, chapter 6 Reading: Miele case (Class 5a) Assignment: Case writeup #1 (Miele) Week 6 Reading: Diesel case (Class 6a) Assignment: Diesel case questions Week 7 Reading: Chernev, chapter 5 Reading: Harley-Davidson case (Class 7b) Assignment: Harley-Davidson case questions Week 8 Reading: Chernev, chapter 7 Assignment: Brand audit Exam: #2 (Class 8b) Week 9 Reading: Beleza case (Class 9a) Assignment: Beleza case questions Week 10 Reading: L Oreal case (Class 10a) Assignment: Case writeup #2 (L Oreal) Exam Week No exam scheduled Page 4 of 6

5 Readings Cases: Coursepack Textbook: Chernev, Alexander (2017). Strategic brand management (2nd edition). Cerebellum Press. Lecture slide handouts: Canvas Optional readings: Canvas Final Grade Weekly case questions (team) 10% Case writeup #1 (Miele) (team) 10% Case writeup #2 (L Oreal) (individual) 15% Brand audit (Whole Foods) (team) 15% Exam #1 (multiple choice) (individual) 10% Exam #2 (multiple choice) (individual) 20% Participation (individual) 20% Grading Grading of case write-ups and the brand audit uses the following scale: 4 Strong pass (clear, concise thinking, expertly argued) 3 Pass (solid thinking; most assignments will receive this grade) 2 Weak Pass (reasonable thinking but with notable deficiency) 0 Fail (major deficiency or assignment not turned in) Requests for re-grading must be accompanied by a written explanation that justifies the request. This request must be provided no later than one week following the date at which the grade was reported to the student. A re-grade may result in no change (most common), an increase, or a decrease in points awarded. Participation Participation consist of quality and quantity of contribution to class discussion. There will be cold calling. Your participation grade suffers when you are unprepared. Attendance is reflected in the participation grade (you need to be present to get participation points). Attendance Learning to articulate your analysis and to evaluate and respond to the analysis of others is an important part of what you will learn in this class. There is no mechanism for making up a missed class. If you absolutely must miss class, you should: a) Notify the professor b) Complete assigned readings c) Submit assignment on time (late assignments receive a failing grade). Individual vs. Team Assignments Students are assigned to groups in week 2 and remain constant for all group assignments. Individual assignments must be completed without collaboration with other students. Page 5 of 6

6 It is a violation of academic integrity if you base your assignments on what you have found on the Internet or which you have obtained from classmates in prior years. Such a violation is grounds for outright failure of the course. Etiquette Students are expected to respect Kellogg s Code of Student Etiquette at all times. In addition, please observe the following: No electronics. You may not use laptops, or mobile phones in class unless directed to do so. It is distracting to your classmates to sit beside or behind you while you surf, text, or game. Punctuality. Class will start on time. It is distracting to your classmates for you to move into the classroom after the class has begun. Further, it is expected that you will remain in your seat for the duration of the class: No coming and going except in case of health emergency. Seating chart. Your assigned seat for the quarter will be the seat you choose for the third class session. I use assigned seats to help me keep track of class discussion, so be sure to sit in the same seat through the quarter. Kellogg Honor code Students are expected to respect Kellogg s Honor Code at all times. The first point of the Kellogg Honor Code is Not to seek an unfair advantage over other students, including but not limited to giving or receiving unauthorized aid during completion of academic requirements. The consequences of cheating can be failing an assignment or the course, or suspension or dismissal from the university. Written case assignments are expected to be individual efforts or group assignments, as specified in the syllabus. Individuals or groups should not consult the Internet, friends at other business schools, or people who have taken the course already. The members of any academic community are expected not to present as their own ideas or material from other sources. Northwestern s academic integrity guidelines state: A conscientious writer always distinguishes clearly between what has been learned from others and what he or she is personally contributing to the reader's understanding. See for more information. In the context of this course, it is acceptable to refer to concepts, frameworks, and analytical tools from the readings or class lectures without citation. You may also refer to the material in cases without citations. However, do not quote or paraphrase analysis from another source and present it as your own. Page 6 of 6