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Brand Admiration: Building A Business People Love

Brand Admiration: Building A Business People Love

C. Whan Park, Deborah J. MacInnis, Andreas B. Eisingerich, Allen M. Weiss (Foreword by)

ISBN: 978-1-119-30809-6

Sep 2016

288 pages

$19.99

Description

Brand Admiration uses deep research on consumer psychology, marketing, consumer engagement and communication to develop a powerful, integrated perspective and innovative approach to brand management. Using numerous real-world examples and backed by research from top notch academics, this book describes how companies can turn a product, service, corporate, person or place brand into one that customers love, trust and respect; in short, how to make a brand admired. The result? Greater brand loyalty, stronger brand advocacy, and higher brand equity. Admired brands grow more revenue in a more efficient way over a longer period of time and with more opportunities for growth.

The real power of Brand Admiration is that it provides concrete, actionable guidance on how brand managers can make customers (and employees) admire a brand. Admired brands don't just do the job; they offer exactly what customers need (enabling benefits), in way that's pleasing, fun, interesting, and emotionally involving (enticing benefits), while making people feel good about themselves (enriching benefits). Providing these benefits, called 3 Es, is foundational to building , strengthening and leveraging brand admiration.

In addition, the authors articulate a common-sense and action based measure of brand equity, and they develop dashboard metrics to diagnose if there are any 'canaries in the coal mine', and if so, what to do next. In short, Brand Admiration provides a coherent, cohesive approach to helping the brand stand the test of time.

A well-designed, well-managed brand becomes a part of the public consciousness, and ultimately, a part of the culture. This trajectory is the fruit of decisions made from an integrated strategic standpoint. This book shows you how to shift the process for your brand, with practical guidance and an analytical approach.

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List of Figures ix

List of Tables x

About the Authors xi

Foreword xiii

Preface: What Makes This Book Different? xv

SECTION 1 THE BIG PICTURE 1

Chapter 1 Why Brand Admiration? 3

Introduction 3

The Value of a Brand 4

The Brand Admiration Management System 15

Notes 18

Chapter 2 Living Examples of Admired Brands 21

Introduction 21

Overview 24

Admired Brand in the B2B Market 25

Admired Brand in the Nonprofit (Service) Market 28

Admired Brand in the International Market 29

Types of Brands 30

Key Takeaways 33

What about Your Brand? 34

Notes 35

Chapter 3 The Science behind Brand Admiration 37

Introduction 37

Overview 37

The Theory behind Brand Admiration 38

Brand Trust, Love, and Respect 41

How to Build Brand Admiration: The 3Es 43

Key Takeaways 52

What about Your Brand? 53

Notes 54

SECTION 2 BUILDING ADMIRED BRANDS 59

Chapter 4 Building Admiration from the Inside 61

Introduction 61

Overview 62

Employees as Brand-Building Resources 62

Creating a Meaningful Mission Statement 65

Enabling, Enticing, and Enriching Features That Make the Mission Statement Come to Life 67

Enabling, Enticing, and Enriching Employees as People 72

Key Takeaways 78

What about Your Brand? 79

Notes 79

Chapter 5 Building Brand Admiration among Customers 83

Introduction 83

Overview 84

The Brand-Positioning Statement 84

Strategic Decisions for Developing a Positioning Statement 86

Positioning Statement and Financial Goals 101

Key Takeaways 101

What about Your Brand? 102

Notes 103

Chapter 6 Building Top-of-Mind Brand Recall 105

Introduction 105

Overview 106

Key Issues in TOM Brand Recall 107

Enhancing TOM Brand Recall Using Logos 111

Enhancing TOM Brand Recall Using Brand Names 113

Enhancing TOM Brand Recall Using Product (Package) Design 115

Designing Logos, Brand Names, and Product/Package Designs Jointly 119

Key Takeaways 120

What about Your Brand? 121

Notes 122

SECTION 3 STRENGTHENING AND LEVERAGING ADMIRED BRANDS 125

Chapter 7 Strengthening Brand Admiration 127

Introduction 127

Overview 128

Value-Enhancement Strategies That Strengthen Brand Admiration 130

Strategies That Manipulate Brand Benefits 132

Strategies That Adjust a Benefit’s ImportanceWeight 137

Strategies That Create (Change) the Referent 139

Thinking Broadly about Value-Enhancement Strategies 141

Key Takeaways 143

What about Your Brand? 144

Notes 145

Chapter 8 Leveraging Brand Admiration: Extension and Feedback Effects 147

Introduction 147

Overview 147

Why Leverage an Admired Brand? 148

How to Leverage a Brand: Product and Brand Extension Strategies 151

Key Takeaways 164

What about Your Brand? 165

Notes 165

Chapter 9 Leveraging Brand Admiration: Implementation Issues 167

Introduction 167

Overview 168

When Are Product and Brand Extensions Most Likely to Be Successful? 168

Is High Fit Always Necessary? 176

Achieving Optimal Extension and Feedback Effects over Time 179

Key Takeaways 186

What about Your Brand? 186

Notes 187

Chapter 10 Brand Architecture Design 189

Introduction 189

Overview 190

Brand Naming Options in Brand Architecture Design 191

Designing the Structure of the Company’s Brand Architecture 201

Criteria in Choosing a Branding Option in the Company’s Brand Architecture 203

Key Takeaways 209

What about Your Brand? 210

Notes 210

SECTION 4 ASSESSING THE VALUE OF ADMIRED BRANDS TO FIRMS AND CUSTOMERS 213

Chapter 11 Measuring Brand Equity 215

Introduction 215

Overview 216

Perspective on Brand Equity 218

Measuring Brand Equity 220

Appeal of the Brand-Equity Measure 227

Key Takeaways 234

What about Your Brand? 236

Notes 236

Chapter 12 Brand Dashboards 239

Introduction 239

Overview 240

What a Brand Admiration Dashboard Can Do for You? 242

The Brand Admiration Dashboard: An Illustrative Example 245

Key Takeaways 254

What about Your Brand? 255

Appendix 256

Notes 258

Afterword: Concluding Thoughts 261

Index 263