Brand Management Plan

 BRAND MANAGEMENT PLAN 

Definition is An actionable document that guides the process of creating, growing, and defending a company’s brand. 

G-STIC Framework Goal Strategy Tactics Implementation Control 

G-STIC FRAMEWORK 

• G - Setting a Goal This is a pivotal part of the strategic planning process. There are two decisions involved with goal setting: identifying the focus of the businesses actions and setting specific benchmarks for measuring the business’s performance. The focus determines the key element of a business’s success such as net income, sales revenues, and market share. Benchmarking looks at the goal and defines its temporal and quantitative aspects. 

 • S - Developing a Strategy A strategy outlines the activities that are needed to accomplish the business’s goals. - Target Market The brand’s target customer, competitors, collaborators, company and context (5 C’s) - Value Proposition The benefits that the brand creates for target customers, the company, and its collaborators. 

 • T – Designing the Tactics Tactics are the set of activities that are used to execute a specific strategy. - Brand Design Articulates the elements that define the essence of the brand (brand identifiers and brand referents). - Brand Communication Relates the brand design – identifiers and referents – to target customers in order to build the desired brand image in their minds.

• I – Defining the Implementation Plan Implementation is the logistics of executing the offerings strategy and tactics. - Brand Development Outlines the processes by which the company will develop the resources needed to implement its strategy and tactics, as well as the specific activities involved in building the brand. - Brand Deployment Delineates bringing the brand to market by communicating it to its target audience. 

• C – Identifying Controls Controls serve two functions: to evaluate a business’s progress toward its goals and to analyze the changes in the business’s environment. Performance Evaluation: Monitors the business’s progress toward reaching goals and maximizing performance. Environmental Analysis: Monitors the environment to be sure that the action plan remains optimal.

THE BRAND VALUE MAP 

• The cornerstone of the brand management plan. 

• The brand value map is particularly useful when communicating with entities that are not intimately familiar with the brand. 

• Also used in interactions with the company’s collaborators – including advertising, public relations, social media, and marketing research agencies.

BRAND POSITIONING STATEMENT 

Definition 

An internal company document that succinctly outlines the essence of a brand’s strategy. 

Purpose

 To share the essence of a brand’s strategy with the relevant entities involved in creating, managing, and supporting the brand. 

Aims

 To ensure that different entities within the company have a clear understanding of the key aspects of the brand strategy.

BRAND POSITIONING STATEMENT 

The Key Components 

– Target Customers The individuals in whose minds the company aims to establish the brand image it wants to project and for whom the brand aims to create value. 

– Frame of Reference Identifies the reference point used to define the brand. 

– Primary Benefit Identifies the principal reason why customers will prefer the company’s brand. 

BRAND AUDIT 

Definition Represents the control aspect of the brand action plan and its ability to create and capture market value. 

The Components: 

– Brand Action Plan Audit 

– Brand Implementation Audit 

– Customer Value Audit 

– Company Value Audit 

BRAND ACTION PLAN AUDIT 

Definition Evaluating the soundness of the company’s brand action plan and its ability to create and capture market value. 

Three Main Components 

– Brand Strategy Audit evaluates the viability of the company’s brand strategy to achieve the strategic and monetary goals the company has set for the brand. 

– Brand Tactics Audit evaluates brand design and brand communication. 

– Marketing Mix Audit evaluates the degree to which the other tactics defining the offerings associated with the brand. 

BRAND IMPLEMENTATION AUDIT 

Definition Evaluate how the brand’s strategy and tactics are implemented in the market. Ex: McDonald’s, Pizza Hut, KFC etc. 

Involves assessments of the following: 

– Brand Design Audit examines the degree to which brand elements are consistent with the brand action plan across all markets in which the brand is used. 

– Brand Communication Audit examines the use of specific media and creative elements to convey the meaning of the brand to the target market. 

CUSTOMER VALUE AUDIT 

• Assesses the impact of the company’s brand-building activities on its target customers. 

• Involves two components: 

– Brand Image Audit examines how customers perceive the focal brand, including their awareness of the brand and the specific associations evoked by the brand.

– Brand Value Audit examines the value that customers derive from the brand (psychological, functional, and monetary. 

COMPANY VALUE AUDIT 

• Examines how the brand creates value for the company. 

• The components: 

– Brand Power Audit examines a brand’s ability to influence the behavior of the different market entities.

 – Brand Equity Audit offers an assessment of the monetary value of the brand to the company