Tag Archives: Newman

Because even we don’t know everything

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Sometimes even creative professionals need a little more education.

We were sitting around yesterday discussing different ways to increase the long-term value for our clients brands. And during the meeting someone said, “so the question is: are there other ways, in addition to what we are doing, to measure brand equity?” To which one of team said, “Brand equity, is that like home equity?” Brand Equity Basics – it sounded like a great blog topic to me, at the time.

What is Brand Equity?

In a nut shell it is the difference between of benefits between having a brand name as opposed to not having one. When your brand is well-known enough then you can charge people more money, or premium prices, for your product. A few examples of brands that are able to sell at premium prices include; Nike, Adidas, Apple, Chiquita bananas, VW and TOMS. And a couple of non-name brands include companies like; Jewel Companies Generic Cola and Kroger’sNaturally Preferred. But even house brands are beginning to gain brand equity, like Boots skin care products being sold at Target in the US. However, in the ever-changing world of marketing even generic brands such as No Name Brand is growing brand equity and using it to increase prices for products.

What isn’t a Brand?

Because everyone seems to believe that they understand what a brand is – I thought it might be a good moment to write about what a brand isn’t. A brand isn’t a logo – according to Marty Neumeier – and that is a key thing to remember. That means that things like the Nike Swoosh, the 3-strips from Adidas, the golden arches of McDonald’s or the white apple from Apple is not a brand, but a logo. This is a key thing to remember and not get confused about.

How we attempt to measure Brand Equity?

A brand’s equity is ultimately derived from the actions and words of consumers. As marketing professionals we are constantly testing ways to effectively measure the value of a brand for stakeholders. There are three key levels for measuring a brand are at the corporate, product and consumer level.

Corporate level – This is where a firm makes a calculation regarding how much the brand is worth as an intangible asset.

Product level – This is a measurement where one compares the price of a no-name or private label product to an “equivalent” branded product. This is very difficult when you are attempting to predict the worth and achieve FMA.

Consumer level – Attempts to map the mind of the consumer to find out what associations with the brand the consumer has. In this case high brand equity is associated with strong and favorable high levels awareness.

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You should wait for the new iPad

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Image representing iPad as depicted in CrunchBase

Image via CrunchBase

While observational research should be used to help make important research observations about changes in the market it can also be used to help make informed daily decisions.

We at Newman Partnership use a lot of Apple products. We have yet to find a use for the new iPad in our daily work life, but that doesn’t mean that you haven’t found a use for it in your company. And we wanted to chance to weigh in on how this product before next month. Many people are considering buying an iPad or waiting until a new version becomes available. It is my opinion that Apple will launch a new version with possible forward facing camera within the next two months.

This is not wishful thinking but using simple observational techniques to make an informed decision.

Simply looking at the store advertising at Apple, combined with the current offers that are being emailed, one can generate a strong hypothesis about what is coming soon from Apple.

Screen image of the Nano

Image of the Nano from the Apple store in Charleston

In these images you can see how the screens in Apple’s stores show a new diagonal light reflection technique on their existing in-store marketing pieces (you can almost see it in the examples). But this reflective technique is not used on the advertising on the iPad, which would seem to be either a mistake in the marketing of Apple products or that they are awaiting releasing new marketing material until a new product was released.

Image of the iPad from the Apple store in Charleston

Newman Partnership, Ltd. isn’t trying to say that Apple’s tablet is better than other tablet products on the market, or that you shouldn’t buy an iPad if you have dire need for one. But that this is simply an example of using observational techniques in other areas of daily decision-making and how it can benefit others.

If you have other examples of observational research then I encourage you to write or post your comments here at Newman Partnership, Ltd.

Getting it Bought

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Selling your program to your boss
Newman’s Checklist for Getting it Bought

1. Every program, every project, every budget line item should be “sponsored” by some line manger or other staff-department.
If one of them can’t relate your project to their goals, why do it?

2. Be in the same business that the boss is in. Speak “Digital.”
See your objectives in the eyes of your bosses’ objectives – Keep It Simple Stupid.

3. Be specific about what each project is attempting to accomplish.
What behaviors are you trying to elicit or reinforce? How will this help your boss reach his or her objectives?

4. Speak your bosses language. This language is called Money!
Be able to read and understand the three key financial statements – the profit statement, the balance sheet and the Flow of Funds.

5. Understand the “Make or break” factors in your industry, your company, your bosses job and your job.
Show how your projects will make a difference on these “make or break” factors. Focus on these factors and let the less important stuff go.

6. How will you know that you’re successful?
Get clear evaluations standards from the boss before even beginning the program.

7. Don’t play A-Team. Always have a plan B!
Be ready to have to blow the whistle on yourself, and be ready to switch to an agreed upon plan B.

8. Say “No” or postpone projects that have a less than 50% chance of success!
Why would you even think of planning for failure.

9. Know your boss.
Bottom line benefits first, or “take it from the begging.”
“Overview only” or “Give me all the gory details.”
Simply know what your boss wants to hear and don’t waste his time.

10. Treat your ideas like gold.
Don’t send your ideas by email or blackberry, please. Mount a proper presentation.

11. Know the players on the pitch.
Who is your boss going to double check your idea with, and double check it with them first. This makes them a willing participant.

12. Plan out every second.
Define the purpose of your presentation. What do you need, what would you like, what is the sell and what are the possible resistances?

13. Take a moment for body language. Yours, your bosses and anyone else in the room.
Does your plan fit the culture in which you work?

14. Don’t look for a cup of cocoa and a pat on the back from the boss.
You are there to do a piece of work, not to be loved.
Respected? Yes.
Affection? Irrelevant.

15. You only need to win 50.1% of the time.
Hell, that is better than most games. This is not an S.A.T. or A-Levels. You really don’t need a perfect score.

16. Would you spend your own money on this?