XAVIER INSTITUTE OF MANAGEMENT & ENTREPRENEURSHIP Lesson Plan Term : B25 Fifth Term Course : Product and Brand management Name of the Faculty Member Academic Year: 2020-21 Duration: Nov 20-Feb21 : Dr.J.Daniel Inbaraj Course Credits: 3 Introduction More and more firms have come to realize that their brands are among their most valuable assets in the firm. The goal of this course is to teach students the strategic significance of the role of brands in creating shareholder value. Using lectures, cases, discussions, exercises and group projects, the students should develop fluency with the core principles associated with branding including: Understanding of how to develop a brand positioning Managing total brand experience How to manage the brand relevancy over time? How to achieve growth through brand extension? Brand design and brand messaging Learning Objectives To equip students with the various dimensions of product management such as product-line decisions, product platform and product life cycle To explore the various issues related to Brand Management To enhance the understanding and appreciation of brand associations, brand identity, leveraging brand assets, brand portfolio management etc. To develop familiarity and competence with the strategies and tactics involved in building, leveraging and defending strong brands in different sectors. Learning Outcomes: On completion of the course, the participant will be able to: The learner will be able to understand stages of product life cycle The learner will be able to understand the process of new product development The learner will understand the nuances of branding The Lerner will be able to design strategies for creating and enhancing brand equity The learner will be able to adopt and or evolve a suitable framework for measuring brand performance. 1 Knowledge • • Articulate the concept of branding and provide his/her understanding. Appreciate concepts related to marketing mix and how it aids decision making in business. • • Look for customer insights from marketing campaigns. Enhance the strategic creativity and strong communication skills. Skills Attitude: • Effectively realize the importance of customer orientation in business decisions. • Place marketing decisions on its significance in the broad context of strategic business decisions in organizations. Pedagogical Approach Learning will be through a combination of text book reading, reviewing articles from leading research journals and case discussions. Cases & Articles will be provided well in advance to enable students to come fully prepared. Course Evaluation Students will be evaluated on the following components: Assessment Tool Attendance Individual Presentation Quiz Group Project Presentation , Assignment Mid Term Exam Final Exam % 5 5 5 20 25 40 100 Text Book: 1. Building, Measuring and Managing Brand Equity 4th edition Kevin Lane Keller, Ambi M.G.Parameswaran, Isaac Jacob. Reference Books: 1. Building Brand Authenticity: 7 Habits of Iconic Brands, Michael Beverland 2. Do Good: Embracing Brand Citizenship to Fuel Both Purpose and Profit, Anne Bahr Thompson 3. Positioning: The Battle for Your Mind, Al Ries and Jack Trout 4. Building a Story Brand, Donald Miller 5. Designing Brand Identity: An Essential Guide for the Whole Branding Team, Alina Wheeler 6. Brand Portfolio Strategy, David Aaker Learning Sources 1. www.hbr.org 2. www.fbhs.com 2 3. 4. 5. 6. 7. 8. www.interbrand.com/ www.AdvertisingAge.com www.adweek.com www.Americandemographics.com (part of ad age) www.brandchannel.com www.marketingpower.com Session-wise plan is outlined below: Pre-Class Reading Assignment/ Case/Quiz/ Class Tests Focus (Knowledge/ Skills/ Attitude) What is a brand? Why do brand matters? Why branding is so crucial to organizations success? Strategic Brand Management Process Chapter 1 (Text Book) Case Study Discussion Knowledge/ Skills/ Attitude 6 7 8 Brand Culture, Brand Value, Brand Dynamics Pyramid Brand Resonance Pyramid Reading handout 9 10 Customer based Brand equity Chapter 2 Chapter 4 11 12 13 14 15 16 17 Brand Positioning Chapter 2 18 19 20 21 22 23 24 25 26 27 28 29 Brand Experience Articles Brand Valuation Chapter 8 Measuring Source of brand equity Brand Portfolio Strategy Chapter 9 Sessi on 1 2 3 4 5 Topic Dimensions of Brand Personality Brand Romance , CoBranding Brand Value Chain Role of Social Media in Brand Building Why Brands Fail? Classic Failures, Idea Failures, People Failures, Rebranding Failures Extension Failures Reading Handout Articles Chapter 7 Quiz -1 Case Study Discussion Case Study Discussion Case Study Discussion Case Study Discussion Articles Articles Case Study Discussion Quiz - 2 Case Study Discussion Articles Articles 3 Case Study Discussion Knowledge/ Skills/ Attitude Knowledge/ Skills/ Attitude Knowledge/ Skills/ Attitude Knowledge/ Skills/ Attitude Knowledge/ Skills/ Attitude Knowledge/ Skills/ Attitude Knowledge/ Skills/ Attitude Knowledge/ Skills/ Attitude Knowledge/ Skills/ Attitude Knowledge/ Skills/ Attitude Knowledge/ Skills/ Attitude Knowledge/ Skills/ Attitude Knowledge/ Skills/ Attitude 30 31 32 33 Knowledge/ Skills/ Attitude Brand Audit – Presentation Details of Cases, Class Exercises and Assignments: 1. The details of all the cases to be covered in this course will be shared in the classroom. Note: As the course progresses, based on the student and class requirements, we will be covering additional cases, exercises and assignments. Note: The assignment marks will be normalised for 20 Marks. Prepared on: 10.11.2020 Prepared by: Approved by Dr.J. Daniel Inbaraj Assignment – 1 (10 Marks) Tom Peters: http://www.tompeters.com/tpc/brand_you.php “What do you want to be known for? What is unique about you? What is the special value you provide to your team and organization? In the new world of work cultivating your individual brand, your “saleable distinction” is not optional. If those you work with don’t appreciate what’s unique and valuable about you, you won’t be around for long. As Tom says, “Be distinct or be extinct!” “Developing your individual brand is not self-aggrandizing or antithetical to organizational branding. By defining your brand and connecting it to the brand of your team, you are enhancing the brand of your team. By defining your team’s brand and connecting it to the brand of your organization, you are enhancing the brand of your organization. Just as your organizational brand must reflect the vision, mission, and values of your organization, so must your individual brand. “When you don’t develop a brand for yourself, others do it for you! How they define you or your team then becomes your “default brand”—a brand you are stuck with, which may not be flattering. (For instance, what if you’re saddled with a brand like “unreliable,” “hard to deal with,” or “oldschool”?) Better to deliberately create a brand that represents what you want to be known for—a brand that makes an unforgettable impression and conveys trustworthiness and consistency.” Self Positioning Statement: Draft a positioning statement for yourself. The statement should be short and pithy yet capture your unique brand essence. It also should address your target audience’s key insight (that one singular need, desire or want that motivates or drives their behavior). A good general rule of thumb is to use 16 words or less for your final statement. You should include the following in your document: 4 1) target audience 2) target audience’s customer insight (singular need, desire or want) 3) your unique brand essence or equity and 4) positioning statement. You can position yourself towards employers, business acquaintances, friends, future boyfriends/girlfriends and even potential in-laws. Submit the Assignment on or before November 20th ,2020 and after completion you will explaining it in the class. Assignment 2 - Group Project (20 Marks) Group Project Report Description of the task You will be required to work in a group consisting of approximately 3-4 members and you are free to choose the composition of your group. Each group will be allocated (randomly) to one of the available brands, There are two components to the assignment: Brand Audit and Brand Plan (see below for a description of each). Part A: Brand Audit A brand audit enables the organisation to know what factors are contributing to a brand’s performance. An audit gathers and evaluates information about the brand and competing brands. It can be used to answer questions such as: What is my brand? What is the core proposition of my brand? Business and brand resource strengths Value of the brand Awareness of the brand in the market Deficiencies of the brand New trends and market opportunities Outside threats New product development and future channels of profitability Competitive standing in the market Perception, image, reputation and attitude to the brand in the market Effectiveness of brand management efforts What do my customers/clients/employees think about my brand? Who are the competing brands and what are they doing? What opportunities are emerging and what can threaten the brand? 5 A variety of sources should be used to assemble this profile. You should consult business publications, trade magazines, journal articles, books, and company sources such as annual reports and websites. Part B: Brand Plan – Stretching the Brand This part is forward-looking. Your task is to assess the sources of brand strength for your selected brand and suggest ways to leverage that strength in terms of a specific line/brand extension (of your own choosing). Ongoing and new initiatives should be considered at a strategic level (brand positioning and extension, product and geographical portfolios, etc.) and at a tactical level (names, logos, designs, packaging, communications, etc.). The group assignment once completed should be presented in the classroom for the discussions. 6