Transcript Branding - Fisher College of Business

Product/Career
Management
MKT 750
Professor West
Agenda
Discuss “And Now a Word From Our
Sponsor”
Discuss “Marketing Yourself Memo”
Projection Techniques
Keys to Building a Strong Brand
Product & Brand Life Cycle
Product Positioning & Differentiation
Is It News…Or Advertising?
Why does actress Kathleen Turner discuss her
arthritis on national television, rock singer
Ann Wilson go public with her fight against
obesity, or skater Peggy Fleming complain
about her cholesterol?
Unbeknownst to viewers, a lot of stars are
paid to talk about their medical problems.
Is this good marketing?
Pros:
Well targeted
Attention getting
Consumers’ defenses are
down
Interpreted as WOM based
on personal experience …
highly credible
Cons
Risky … what will be said?
How will the public react if
they learn it is a paid
announcement?
Limited reach … only 3% of
adults watch morning news
shows
Will it get enough exposure
to justify a million dollar
contract?
Deceptive trade practices
will ignite the FTC
Industry Response
CNN has issued a policy and will tell viewers
about the stars' financial ties. CNN will ask
celebrities who want to talk about a medical
issue whether they are being paid by a
company and disclose the relationship during
the interview
Branding
Marketers assess what consumers think about
their brand by asking them to engage in a
free recall task
The task is a simple one. You give a person a
piece of paper and pencil present a brand name
and ask them to right down what comes to their
mind in an ordered list.
Is It News… Or Advertising?
La-Z-Boy – remaking its image
NPR Morning Edition story
BW story
Marketing Yourself
This is the most important marketing
plan you will ever write.
Companies update their marketing plan
on an annual basis, so should you.
To write an effective marketing plan
for yourself go back to the outline we
discussed on Day 2.
Step 1: Situation Analysis
Who is the Company?
You
Who are the Consumers?
Employers
Who are your Collaborators?
Career services, friends, family,
People who work in the industry
Step 1: Situation Analysis
Who are your Competitors?
Other potential employees
What environmental factors need to be
considered?
Economy
Shifting demographics
Industry and technological changes shape
what jobs are available
Illustration
I need a volunteer who is willing to go
through this process for-the-sake of
illustration? Who will help?
I could also use someone who has gone
through this process and has a job
lined up to provide advice. Anyone
willing?
Marketing Yourself
Personal Assessment (Company)
What are my strengths & weaknesses
Character traits and skills
Interests and goals
Opportunity Assessment (Customers)
Who are my target employers?
Industry or Position?
What are their needs?
Commentary
Each of these steps needs to be
thought through very carefully.
Consider what you have to offer that
will be valued by employers (your
benefits)
Remember you are looking for features
that will differentiate yourself from
others
Commentary
Be sure to do your homework so that
you know as much as you can about
what employers are looking for in
terms of skills
Set up an informational interview with
one or two people who work in the
industry or position you aspire to
collect this kind of information
Marketing Yourself
Finding Leads (Collaborators)
Networking
Don’t be shy about talking to others
Listen and show appreciation
What you’re up against (Competitors)
Recognize that you are competing with
many other well qualified individuals
Seek to differentiate yourself
SWOT
Once you have
completed your
situation analysis
summarize it the
form of a SWOT
table.
(Include as an appendix)
Strengths:
Weaknesses:
Opportunities: Threats:
Step 2: Strategy
Just as firms select a target market
you need to identify target employers
who will be most receptive to the skills
(benefits) you have to offer.
It is important that you have thought
through how you want to be perceived
by these employers (positioning)
How are you perceived?
Understanding a perceptual map can
tell us a lot about what a consumer
thinks about a brand, or what a
recruiter will remember about you
How are you perceived?
Our long term memory is a network
of “nodes” and “linkages”
Marketers assess what consumers
think about their brand by asking
them to engage in a free recall task
An Associative Network of
Perfume
What would you like to be
associated with?
Smart
Analytical
Skills
Creative
Honors
Student
Business
Degree
Marketing
Major
Hard
YOU
Worker
Volunteer
OSU
Good
Citizen
Caring
Worksheet:
What I want others to
think of me:






Connection to reinforce
desired attributes:






Product Positioning
“How you want to be perceived in the hearts
and minds of the consumer”
Elements of a Positioning Statement:
Target group
Need being fulfilled
Point of differentiation
Competitive advantage
Support
Product Positioning
Point of Differentiation:
Product
BMW positions itself on performance
Bose offer unique design & superior sound quality
Channel
Dell distinguishes itself by its high-quality direct
channel
The Drive.
What makes a BMW a BMW? Anyone who owns or has
sampled the joy of driving a BMW will answer the question,
quite simply, with two words: The Drive.
It's that legendary Responsiveness that makes the
driver feel at one with the car.
It's Technology engineered for pleasure, where every
detail is mobilized to serve the drive.
It's Design built on the notion that form should always
follow function.
What makes a BMW a BMW? It's quite simple, The Drive.
Product Positioning
Point of Differentiation:
Product
BMW positions itself on performance
Bose offer unique design & superior sound quality
Channel
Dell distinguishes itself by its high-quality direct
channel
Product Positioning
Point of Differentiation:
People
Disney is known for its
friendly and upbeat cast
(employees)
Image & Service
Ritz-Carlton offers the finest
in personalized service and
their name is synonymous
with quality
How Many Differences to Promote?
Unique Selling Proposition (USP)
Pick one attribute and stick to it…
Crest toothpaste fights cavities (1956)
It was not the first, but perceived to be the best
Dominated the market for decades with a 33
percent share in 1980, outselling Colgate two to
one.
How Many Differences to Promote?
Some companies are trying to broaden
their positioning strategies…
In response to Crest’s success, Colgate
has been forced to focus on innovation
Colgate developed new gels, pumps, and
tartar control brands… Crest followed.
Crest fell to the number two brand in 1998
following the launch of Colgate Total
Colgate Total®
claims to be the
ONLY toothpaste to
provide
12 hour protection
that helps:
 Fight Cavities
 Prevent Gingivitis
 Reduce Plaque
 Control Tartar Build-Up
 Fight Bad Breadth
Unilever
introduced
Lever 2000
offering
cleansing,
deoderizing, and
moisturizing
benefits…
Step 3: Tactical Plan
Once you have identified your target
employers and how you want to be
perceived you need a plan of action to
get the word out that you are in the
market for a job.
Commentary
Remember what marketers do to get
the word out to their target market.
You have to think about the same
stages they do:
Exposure  Attention  Comprehension
 Yielding  Retention
What does that mean in this context?
Commentary
If you rely on the same avenues that
others are using you are not likely to
get attention.
How are you going to make a good
impression once you have got
attention?
Marketing Yourself
Exposure
Personal: Career events/job fairs and
networking
Impersonal: Career services resume bank
and direct mailing/cold calling
Which do you think works better and why?
What is the parallel to marketing products?
Commentary
The personal route is about face-toface contact and personal experience
This can enhance your chance of being
remembered if you use the opportunity
wisely to make a good impression
Commentary
The impersonal route can not be
dismissed altogether.
This entails working through career services to
get your resume in front of recruiters, sending
your resume to targeted employers, etc.
However, here you are facing the same challenge
marketers do when they try to advertise their
product. Clutter can keep your message from
getting through.
Marketing Yourself
Gaining Attention
Personal: Impression formation
Impersonal: Positioning and differentiation
How can this be effectively managed?
How can you get attention without being
offensive?
Marketing Yourself
Retention
Personal: establish connections, stories
Impersonal: internships, experiences,
interests
How do you get someone to remember who
you are?
What is your brand building strategy?
Who are your target employers? Why?
How do you want to be perceived in the
hearts and minds of potential/current
employers?
Desired attributes & skills
What is your brand building strategy?
How will you differentiate yourself from
other potential employees?
Skills
Character traits
What is your competitive advantage and
how do you intend to sustain it?
Remember to strive to exceed expectations
Product improvement is vital (education)
Assignment
“Marketing Yourself” memo is due on
Tuesday