Contents Introduction Chapter 01: All About Brands A Brand Is Not . . . A Brand Is . . . Brand Taxonomies Why Brands Are in Trouble? What Is a Brand? Brand Extensions Brand Equity Enhancement (or Dilution) Index Chapter 02: Branding in a Postmodern Culture Branding Gets Metaphysical Chapter 03: Strategic Perspectives of Branding Decision Map for Brand Choices Decision Map for Brand Leveraging “Stand for something or you’ll fall for anything!” The Involvement Grid Brand Customer Interactions and Relationships Matrix Chapter 04: Managing Brand Value Start with Brand Strategy or Business Strategy? Brand Awareness Is Not the Same as Brand Differentiation Individual Products Integrated Markets Chapter 05: Brand Leadership Case Study: Branded House versus House of Brands Chapter 06: Luxury Brand Marketing Old Luxury New Luxury We become consumers of illusions Chapter 07: Strategic Branding Process Chapter 08: Strategic Branding Assessment Chapter 09: Strategic Brand Audit Glossary About the Author Index “Idris has managed to condense years of intense brand thinking, innovation, and practice into this highly digestible and eye-opening book. A pleasure to absorb both visually and intellectually, the 60-Min Brand Strategist is a boon to anyone in contact with the brand levers.” —Dane Solomon, SVP, Executive Creative Director, Williams-Sonoma, Inc. “Cohesive brand strategies are at the heart of every great company. Idris has this amazing ability to articulate how to get every facet working together, which is critical in today’s ever changing world.” —Justin Cooke, CMO, TOPSHOP “Idris’s insight, compiled in the 60-Minute Brand Strategist, is a terrific primer that can be used to unlock the “who am I” question and serves as an excellent resource for anybody interested in the intersection of brand marketing and business strategy.” —Ian Yolles, CMO, Recyclebank “. . . it presents a lot of punchy, inter- connected ides that will put you thinking on marketing and brands. Although it covers the familiar topics, it often does so in original ways . . .” The Globe and Mail “Customers must recognize that you stand for something.” —Howard Schultz, Starbucks Copyright © 2013 by Idris Mootee. All rights reserved. Design: Sali Tabacchi Inc. Published by John Wiley & Sons, Inc., Hoboken, New Jersey. Published simultaneously in Canada. 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Some material included with standard print versions of this book may not be included in e-books or in print-on-demand. If this book refers to media such as a CD or DVD that is not included in the version you purchased, you may download this material at http://booksupport.wiley.com. For more information about Wiley products, visit www.wiley.com. Library of Congress Cataloging-in-Publication Data: Mootee, Idris, 1958— 60-minute brand strategist: the essential brand book for marketing professionals / Idris Mootee. pages cm Includes index. ISBN 978-1-118-62516-3 (cloth); ISBN 978-1-118-65982-3 (ebk); ISBN 978-1- 118-65996-0 (ebk); ISBN 978-1-118-65986-1 (ebk) 1. Branding (Marketing) I. Title. II. Title: Sixty-minute brand strategist. HF5415.1255.M676 2013 658.8’27—dc23 2013005318 Introduction This book is a creative compilation of thoughts, processes, frameworks, and visuals taken from my Advanced Branding Master Class, running for more than 10 years in more than 20 countries. This book is for those who haven’t yet had the opportunity to attend my seminars. Everyone is busy, with little time to read, so this book is a 60-minute read that could be finished on a flight from New York City to Chicago, or from London to Paris. Brand is unarguably the most powerful business tool ever invented, after costing and pricing. There are a lot of myths about brand and brand strategy, including the right way to grow the financial and strategic value of a brand and the notion that brand strategy should always align with business strategy. People often place too much value in the power of a logo or a name, but rarely enough on their brand strategy. Many also assume that the brand strategy of larger companies is always robust, and only affordable because of their size. This is far from the truth; every successful business, large or small, global or local, must have a brand strategy and it needn’t be complicated. Many assume a brand’s opportunity is only within its product/service category and often forget that the biggest opportunity for growth may exist outside or adjacent to the current definition of the market. All brands should be fighting two wars at the same time—growing existing market share within a defined product category and inventing a new one. The reality is most established product categories brand market shares change very little despite big increases in media spending. So the question is, how can a brand generate growth and create economic value? For a brand to grow, it requires stepping back from the current situation to develop a systemic way of looking at it from a different viewpoint, then aligning that with business strategy and the competitive context—a robust brand strategy. How can that be used to change the game to your brand’s advantage? By bringing empathy into the process, understanding the brand’s core and its role in the context of business strategy, and discovering how to change the way customers/channel partners think about the category, not by fighting for incremental share gain within the category. This little book can help any company succeed by using the brand to inspire and inform a game-changing strategy. Your investment into this book is well worth 60 minutes. Chapter 01 All About Brands “IN TECHNOCRATIC AND COLORLESS TIMES, BRANDS BRING WARMTH, FAMILIARITY AND TRUST.” —PETER BRABECK, NESTLÉ What Is a Brand? In a world where brands rule, products are no longer bundles of functional characteristics but rather a means to provide and enhance customer experiences. Thanks to the Internet and wireless technologies, information is so abundant that consumers are overloaded. They have more information than they can digest, use, need, or even want. Product proliferation creates so many choices that it diminishes our ability to differentiate or choose what we truly value. Brands help us choose. They are invaluable tools that help us break through clutter to make choices based on our experience of and satisfaction with products or services. “There will be a time using a logo will be the worst thing in the world.” —Bill Bernbach, Founder DDB We’re a long long way from that day. The truth is that people like brands. They not only simplify choices and guarantee quality, but they also add fun and interest, provide aspirations and dreams. Some people love them like children, which might explain why I personally know of a 4-year-old boy named Nike, an 8-year-old boy named Ferrari, and a 12-year-old girl named Hermès. A Brand Is Not . . . A Trademark (These are legal properties.) A Mission Statement (This is a reminder.) A Logo or Slogan (These are your signatures.) A Product or Service (These are just the tangibles.) An Advertisement (These deliver your messages.) A Brand Is . . .