Hi.
Welcome back.
In the last lecture, we'll discuss how to analyze your competitors as an input
to developing your brand.
The focus of this lecture is to define the model to develop your brand strategy.
There are many models out there to develop your brand strategy.
Every good agency consultant has developed one.
I will share with you a simple way of thinking about it which has worked for me.
It is based on David Acker's brand identity model.
Why do I use this particular one?
Because it is simple to use and to explain.
Think about it, this is like your elevator pitch for your brand.
You need to be able to explain it in a few words and make a compelling reason for
your stakeholders to buy into it.
And I say stakeholders, because on the one hand you have your customers.
But you also need your fellow colleagues to buy what your brand stands for,
which will be the subject of our sixth module.
Let's stop and think of a peach.
Next, you have the flesh,
which is what you actually experience when you eat that peach.
It provides the flavor and
delivers all of the nutrients that you receive from the fruit.
On the outside you see the peel or
the skin, which is what you see before you actually eat the skin.
If you think of it, the peel is the part of the fruit that defines
how you perceive it before actually buying or eating it.
The brand identity model works similarly.
If we start from the center, there is a brand essence.
The heart and the soul of the brands, which it lasts for a long time.
It guides a strategy.
It summarizes who we are and what is our key promise.
For Philips, for example, it is technology designed around customers.
For Starbucks, it's rewarding everyday moments.
For BMW, it's sheer driving pleasure.
We will discuss more on brand essence during our next lecture.
Next is the flesh or the equivalent to our brand values.
Externally it is what we experience when we consume the brand.
Internally it is the most important
competencies that will be consistent across our offering.
They are the drivers of strategic initiatives.
For example, some of Philips' values are breakthrough technology,
accessibility, deep customer understanding.
Some of Starbucks' values are quality and
variety of product, sustainability and customer service.
For BMW, they are performance, safety and sustainability.
Please note each of these has a specific explanation that
clarifies what these big words mean.
They're also so important that we will devote a whole lecture to discuss them.
The equivalent of the peel or the skin we called the extended identity.
It defines the brand personality or the character.
It is how the brand connects with the stakeholders.
Or how it wants to be perceived.
For Philips some of the attributes that describe the extended
identity are imaginative, helpful and curious.
For Starbucks they are friendly, cosy and responsible.
For BMW, some are inspiring and challenging.
So how do these actually translate into perceptions that we might experience?
Look at this advertising and
notice how the brand personality challenging is reflected.
Or to provide the perception of inspiring, BMW has a co-creation site,
which is a virtual meeting place for individuals interested in cars.
And all of the related topics who want to share their ideas and
opinions on tomorrow's automotive world with BMW.
As you might have guessed,
it is very difficult to define our brand identity and launch it tomorrow.
You develop your brand identity and build it over time.
It is the foundation of the relationship between your brand and your customer.
You might have noticed that we have collected much information in previous
lectures.
We will use all of it to build your brand identity.
Once I explain in more detail the brand essence and the brand values,
which are the topics of our next lectures.
See you then. [MUSIC]