MM5720 PRELIMS December 17, 2022 | FRAN | UNIT 2: BRAND POSITIONING WHAT IS BRAND POSITIONING? ➔ It’s a game of influencing the perception of our target market ➔ is an act of designing the company’s offering and image to occupy a distinctive place in the mind of the target market (Philip Kotler, The father of Modern Marketing) ➔ Conceptual definition: It is the conceptual space that a brand owns in the consumer’s mind. ➔ Operational definition: Its how the brand distinguishes itself from the competitors. ➔ Brand Management’s end goal is to bring your target market closer to your brand. BASIC COMPETITIVE STRATEGIES (MICHAEL PORTER) 1. Overall Cost Leadership: Lowest production and distribution costs; Low priced, large market share 2. Differentiation: Differentiated product line and marketing program as industry class leader 3. Focus: Serving fewer fragments. Targeting a specific segment (ie Top 5% of leisure and corporate travelers) 4. Operational Excellence: Leading in price and conveniece 5. Customer Intimacy: Tailoring products and services to exactly match the needs of targeted customers. 6. Product Leadership: continuous stream of leading-edge products or services, aiming to make competing products obsolete BUILDING AND MAINTAINING A BRAND POSITION ➔ Brand Differentiation: It can be defined as to set apart the brand from the competition, by associating a superior performing aspect of your brand with multiple customer benefits. ➔ MARKET RESEARCH Or the level of your knowledge about your customer MUST be deeper ➔ Competitive Positioning: Competitive edge of the brand (YOU) ➔ Competitive Positioning: Competitive edge of the brand (YOU) ➔ “If you know the enemy and know yourself you need not fear the results of a hundred battles.” - Sun Tzu ➔ Competitor Positioning : Positioning Map, Perceptual Map, Positioning Matrix. ◆ Compare decision making factors ◆ Help visualize the competitive strategy ◆ Identify gaps and opportunities MM5720 PRELIMS December 17, 2022 | FRAN | ➔ “Whoever is first in the field and awaits the coming of the enemy, will be fresh for the fight; whoever is second in the field and has to hasten to battle will arrive exhausted.” - Sun Tzu 2 TYPES OF STRATEGY OF COMPETITIVE POSITIONING ➔ Competitive Positioning: Understanding the buying decision of the customer and create a combination to be appealing to them. Two Types of Strategy: 1. Against Brand Positioning: Select a reference point (another brand, another category, or another audience) ➔ Know their pain points ➔ Make those pain points as your competitive advantage (your goal is to be the alternative brand) 2. Experience Positioning: Entire end to end experience of the brand, rather than a single focal point feature. There might be multiple pain points from your competitors that you can use as your advantage. STEP-BY-STEP PROCESS FOR BRAND POSITIONING 1. Building a target profile: Explore the We needs of the Consumer 2. Explore the needs of the consumer: Consumer Benefits Ladder MM5720 PRELIMS December 17, 2022 | FRAN | 6. Map the potential benefits to find the winners 3. Identify the gaps in the market SUCCESSFUL BRAND STRATEGY EXAMPLE 4. Mapping out your consumer benefits: Consumer Benefits Ladder 5. Turn benefit clusters into benefit statements to differentiate your brand 1. Know your stand: Rebranding ( changing your external brand appearance) vs. Repositioning ( Changing your internal brand identity and promise) 2. Know mistakes in brand positioning: s use of interchangeable with differentiation strategy, competitive differentiation and positioning strategy a. Brand Under Positioning: The brand is seen as inferior to that of the competition. i. Solution: Make Co-Branding ( associate your brand with a brand ambassador so that customers feel identified with. This way, you will be able to differentiate your brand from the competition.) b. Brand Over Positioning: The brand manager imagines that the value or price of their brand is higher than it really is i. Solution: Rational Combat Tool ( continuously make SWOT analysis and establish a pricing strategy.) c. Brand Confusion: brand does not have a clear positioning, the customer may be confused and not know what the products or services the brand offers are for.Common reasons: outdated stock, lack of details in the descriptions, absent or poor-quality images MM5720 PRELIMS December 17, 2022 | FRAN | i. Solution: Stop and Reconsider (About eliminating the idea that consumers have of the company and doing a brand reinvestment.) d. Uncertain Positioning: The brand is seen by the consumer as unable to fulfil what it promises. i. Solution: Providing, Creating, Updating ( PROVIDING information about the value proposition of our brand. CREATING test campaigns to find out if consumers are really getting the message and UPDATING the brand frequently. 3. Brand Co-Creation: the practice of collaborating with other stakeholders to guide the design process. Participants with different roles align and offer diverse insights, usually in facilitated workshops a. Co-creation is particularly about alignment between participants and cross-pollination of expertise and viewpoints. b. Why do we practice Brand Co-creation? i. To increase the level of brand experience that the consumer has with the brand. ii. To create better products based on customer desires. iii. To know new and unexpected ideas. 4. Design Thinking: is essential to co-creation to get the clearest understanding of the various constraints, workflows, processes and more that services involve before you can make the most accurate customer journey maps and personas, and move your design process forward. a. Empathize, Define, Ideate, Prototype and Test UNIT 2: BRAND CO-CREATION WHAT IS BRAND EXTENSION ➔ BRAND: what you say and how you behave ➔ Reputation: What others say about your brand based on a shared perception of your audience ➔ Brand Extension: the use of an established brand to launch new products or services WHY DO MARKETERS EXTEND BRANDS? 1. Less risky of innovation: User already know the brand, Acceptance in the market may be higher, Costs may be lower 2. Increase the ROI: can grow sales, use up production capacity, appeal to new segments and help brand enter new market 3. Essential form of Brand Innovation: to stay relevant to your audience 4. Vital to avoid becoming commodified: Brand Asset Valuator (BaV) Differentiation & Relevance vs Esteem & Knowledge 5. Useful in clarifying the brand’s meaning: Strategy to show that the brand remains true to its core meaning 6. Important in Business Model Success: It is a strategy to help the MM5720 PRELIMS December 17, 2022 | FRAN | brand to generate cash flow, if the main product is not giving any income. 7. Necessary preemptive or reactive competitive: It becomes your competitive advantage 8. Improve efficiencies in marketing and other related expenditures: Maximize the resources of the brand in terms of distribution, R&D, marketing expenditure, sales expenses, HR, public relations, sponsorship investment and others in relation to the parent brand over all of its extensions 9. Unforeseen consumer-driven innovation: Lego has formalized this process through entry into new categories (electronic games, movies) and line extensions involving the strategy use of licensing with entertainment franchise such as Star Wars, Lord of the Rings, and Harry Potter (among many others) WHAT TO OBSERVE IN BRAND EXTENSION TO AVOID FAILURE? ➔ BRAND EXTENSION Authenticity (BEA): A consumer’s sense that a brand extension is a legitimate, culturally extension of the parent brand. (in general) 1. Maintaining Brand Standards & Style 2. Honoring Brand Heritage 3. Preserving Brand Essence ➔ PERCEPTIONs OF FIT : A consumer’s sense of confusion on what category do you want to play. (category extension) ◆ BIC Ballpen and Parfum: Product Attributes & Benefits ◆ Colgate Toothpase and Beef Lasagna: Substitutability & Complementarity of parent and extension ◆ Honda car and Motor and Mower: Brand assets & capabilities WHY NOT DEVELOP A NEW BRAND? PROS OF BRAND EXTENSION: 1. Efficiency: It can maximize your resources. 2. Growth in sales and coverage: It can help to widen your income and audience. 3. Clarify brand image and frame of reference: It helps your brand to be not commoditized. 4. Refreshing the brand: It assist you to still be relevant to your audience. 5. Build customer relationship: It support your brand to be innovative. CONS OF BRAND EXTENSION: 1. Customer confusion and reduction of category identification:It can confuse the audience, if the extension was not properly planned. 2. Retailer resistance: It may lead the retailer to demand that the extension product to replace the existing one. 3. Cannibalization: It can reduce the sales of the main product. 4. Parent brand dilute: It can affect the parent brand, as it becomes unfocused in its offering of products and services to its particular audience 5. Declining authenticity: It shows no connection to the parent brand. WHAT ARE THE 5 STEPS IN BRAND EXTENSION? 1. Determine what users know and line about your parent brand. 2. Identify possible extension options (line or category) MM5720 PRELIMS December 17, 2022 | FRAN | 3. Evaluate proposed extension with: associations of the extension (authenticity), perception of fit (similarity, and relevance), and against internal factors such as ability to compete and level of marketing support. 4. Develop supporting marketing programs (e.g. buyer persona, brand persona) and brand elements 5. Launch the extension and track its impact on the parent brand. ➔ Brand Portfolio: The collection of smaller brands that fall under a larger, overarching 'brand umbrella' set by a firm, company, or conglomerate WHAT IS CO-BRANDING? ➔ (also called brand alliances) A marketing partnership between two or more brands. ➔ Combining seeming opposites to enhance the performance and image of the brand, without diluting the parent brands UNIT 2: BRAND PORTFOLIOS WHAT IS THE BRAND ARCHITECTURE AND BRAND PORTFOLIO? ➔ BRAND ARCHITECTURE: An organizing structure of the brand portfolio that specifies brand roles and the nature of relationships between brands. UNIT 3: GLOBAL BRANDING GLOBALIZATION ➔ is the process of international integration arising from the interchange of worldviews, products, ideas, other aspects of culture. ➔ International Monetary Fund: Safeguarding the International Financial System ( Trade & Transactions, Capital & Investment Movements, Migration & Movement of People, Dissemination of Knowledge) MM5720 PRELIMS December 17, 2022 | FRAN | ➔ “It is important to remember that the most influential rankings of brand equity are in fact measures of global brand value.” - Michael Beverland (2018) 6. Population diasporas or mass migration 7. Cross-cultural cross-pollination in many sectors 8. Global supply chains (global-local greyness) 9. Co-branding with local or global players 10. Cultural differences or local market conditions ADAPTATION STANDARDIZATION OR ADAPTATION ➔ Standardization: Involves developing a distinctive brand identity and reproducing this identity across differing cultural, historical and structural terrains. ➔ mcDonaldization: when a society adopts the characteristics of a fastfood restaurant. – Ritzer (1993) ◆ Control, Predictability, Calculability, Effiency ➔ Adaptation: meeting the needs of the market, planning all business activities with the aim of efficiently meeting the specific needs and respecting the values of local consumers BENEFITS OF STANDARDIZATION 1. One brand identity across the globe is efficient 2. Many brand users source brands from around the globe 3. Social media and porous borders increases the likelihood of embracing global lifestyles 4. Global brands often set the standard for others to emulate 5. Global brands are perceived to be of better quality and more exotic 1. Conditional on certain moderating variables based on the consumer 2. Brands at different stages of development may require different strategies 3. Different institutional requirements, legal restrictions, and cultural norms 4. Country of origin images may be negative within the category or generally negative or unknown MORPHING ➔ Morph: Activities that bestow [a brand] with the strategic flexibility and dynamic capabilities that enable it to evolve into a very different type [brand] in a relatively short period of time ◆ Customized uniformity: brand name and Logo, product and service adaptation BRAND CULTURAL PERSECTIVE ➔ Brand culture perspective: Focuses on how the consumer views terms such as global, local and national and how they see brands from different nations. ➔ New Asia: 2002 FIFA world cup in Korea and Japan – creating shared culture around the idea of new Asia as urban, modern and multicultural. They use this strategy as an advantage to generate cultural content that helped shift MM5720 PRELIMS December 17, 2022 | FRAN | ➔ ➔ ➔ ➔ outsiders’ image of the region, thereby benefiting Asian brands. Austria Diasporas Complex history of some nations Consumers may use brands to assert competing visions of national identity: China does it better, Changing tastes and localized diversity, Big game, Big money UNIT 3: CORPORATE BRANDING CORPORATE BRANDING :refers to the practice of promoting the brand name of a corporate entity, as opposed to specific products or services. ➔ Shared Values/ Organizational Culture: Ensure to deliver on brand promises and keep the brand relevance. ➔ Scope: It includes the entire enterprise including the stakeholder ➔ Identity Issues: Employee’s identity and tensions between different stakeholders and how they see the brand. ➔ Reputation: The holding company also has a reputation with stakeholders that requires careful management as it can affect the firm’s ability to acquire resources from investors and governments and also the equity of individual brands. WHO ARE THE STAKEHOLDERS? 1. Customer Groups: consumers and b2b customers 2. Functional Groups: employees, trade unions, suppliers, distributors, and service providers. 3. Normative Groups: government, regulatory bodies, agencies, shareholders, and trade associations. 4. Diffuse Groups: the media, special interest groups, and community members. ALIGNING MULTIPLE IDENTITIES ➔ British Airways: “As it turned out, the airline had gone too far, too fast for its key stakeholders –customers, shareholders, employees –and the British public. The change was too drastic and in the view of many weakened the strength of the brand. There was also the perception that the proud heritage of British Airways was being swept under a carpet of modernization.” - CEO Lord Marshall ➔ Vision-culture-image alignment model : Hatch & Schultz It aims to understand how gaps between various types of identities may emerge. ➔ What are the gaps / intersection? MM5720 PRELIMS December 17, 2022 | FRAN | 1. Vision-Culture: Gap between employees’ experience of the firm’s practices and firm’s vision. Employees focus on what is measured rather than on achieving the ideals in the vision. 2. Image-Vision: Gap between desired identity and how others view the organization.Integrated Marketing Communications (IMC) 3. Image-Culture: Gap between on how the company is and how the company is seen emerges. Promises are made to external users and then not delivered in those critical “moments of truth” ➔ What are the strategies important in internal marketing? 1. Brand-based recruitment: The organization also use its brand vision to hire employees. 2. Brand-based performance assessment : Employees unsurprisingly tend to focus on doing what is measured. 3. Brand-based training: Training to high performance team to enhance employee effectiveness. 4. Brand-based volunteering: Brand driven sponsorship and lobbying is critical for enhancing one’s reputation with stakeholders while also reinforcing the brand. 5. Brand-based learning: Stories are powerful carriers of brand messages. Formalizing key stories and using them to reinforce brand understanding internally can help clarify how people should act in all situations. Nordstorm stands behind its guarantee of customer satisfaction or your money back. SERVICE MANAGEMENT PROCESS Increase Sales: Employee Satisfaction, Employee Motivation, High Quality Service, High Customer Satisfaction ETHICAL BRAND INTERNAL MARKETING ➔ Importance: Employment branding, Brand-driven HR Policies, Brand knowledge throughout the firm ➔ does not harm people, animals, or the environment, and it contributes to society responsibly, positively, and in a sustainable way. ➔ adheres to values, strategies, and actions that can be perceived as morally right and ethical. ➔ Ethics of Care: EMPATHY does not imply that we have to accept another’s viewpoint as more valid than our own; MM5720 PRELIMS December 17, 2022 | FRAN | rather it sensitizes us to alternative views and ways of seeing, opening up the possibility of dialogue and exchange. UNIT 3: PERSONAL BRANDING ➔ Corporate social responsibility (CSR): A self-regulating business model that helps a company be socially accountable to itself, its stakeholders, and the public. ➔ Aboitiz Foundation: CSR programs spans components: Education, Enterprise Development, Primary Health and Child Care, Corporate and other Donations and Environment, of which the library ➔ ASF: the Andres Soriano Foundation: Assists basic education services such as helping the school and the library. Philippine Dictionary Project: Notable donors for this project were the Bank of the Philippine Islands (BPI) Foundation, Metrobank Foundation, Alfonso Yuchengco Foundation and Standard Chartered Bank. ➔ Ayala Foundation: AFI develops, implements, and sustains programs in various development areas, which include: education and youth leadership, livelihood and entrepreneurship, and art and culture.One of its flagship programs is the Filipinas Heritage Library which boasts of more than 13,000 volumes of Philippine materials including 2, 000 titles of rare books. 3. Closed their branch for three days for a thorough investigation. 4. Review policies and procedures. 5. Cascade the new policies and procedures throughout the organization. 6. Ensure that it will not happen again. 7. Emphasize commitment to maintain trust and loyalty among the customers. Brand affinity and the Jollibee effect strong affinity to the brand: a weird sort of relationship, as if with a childhood friend. CRISIS ➔ GENERAL: A crucial or decisive point or situation; a turning point. ➔ GENERAL: An unstable condition, as in political, social pr economic affairs, involving an impending abrupt or decisive change. ➔ MEDICINE: A sudden change in the course of a disease or fever, toward either improvement or deterioration. ➔ PSYCHOLOGY: An emotionally stressful event or traumatic change in a person’s life. ➔ LITERATURE: A point in a story or drama when a conflict reaches its highest tension. ➔ DEFINITION: An episode characterized by uncertainty, tension, and conflict, with potential for harm or decline. However, it could be a turning point for good, whereby the solution to the conflict results in a transformation. WHY MANAGE CRISES? UNIT 3: CRISIS MANAGEMENT Jollibee immediate response: 1. Handled customers' emotions by empathizing. 2. Accepted their error. 1. Value of reputation: Damage to firm’s reputation is harmful to shareholder value and therefore requires quick management. MM5720 PRELIMS December 17, 2022 | FRAN | 2. Importance of Managing Social Media: With the advent of social media, information is often difficult to contain and diffuses rapidly 3. Lying: Crisis-management professionals focus on managing public perceptions about the disaster. 4. Truth: Truthiness reflects a process of motivated reasoning, whereby we select information based on what we want to achieve, and screen out contradictory input. 5. Polysemy: Multiple codes, situations and narratives 6. A quick response: With the right tone, can represent a win for the brand SERVICE RECOVERY PARADOX 1. Response Phase: Emergency Period and Relief Period 2. Recovery Phase: Restoration of essential services and Time period depends on level of development 3. Prevention Phase: Structural measures and Non-structural measures 4. Preparedness Phase: Disaster planning, Early warning system, Logical planning and Emergency drills WHAT ARE THE DIFFERENT TYPES OF BRAND CRISIS? ➔ Stress the importance of having strategies in place to ensure that failures are managed and that the inconvenienced customer is “recovered” so they do not switched. ➔ 1992 – strong service recovery could in fact make customer more loyal ➔ However, based on meta-analysis, SRP rarely occurs, and only really operates in fairly mediocre service systems. RISK MANAGEMENT MODEL 1. Reputational a. Nature of Crisis affects form behind brand. b. Cause: Major disaster or breach of social norms that lies outside of brand management team. c. Solution: Whole of firm response: CEO critical. d. Danger: Negative brand equity 2. Authenticity a. Nature of The basis of the brand’s identity is challenged. b. Cause: For functional brands, performance failures are the key driver. For emotionally positioned brands, failures relate to value gaps. c. Solution: Functional: fix the problem and recompense for any losses. Emotional: apologize, acknowledge fault, restore customer trust and rebuild authenticity. d. Danger: Functional: left too long, costs can escalate, scrutiny can MM5720 PRELIMS December 17, 2022 | FRAN | remove focus from organization; competitors can take advantage; equity can decline. Emotional: equity can decline, grudge holding can occur 3. Legitimacy a. Nature of The activities at the heart of the brand lose moral legitimacy. b. Cause: Society or a sub-set of society withdraws moral support for all or some part of the brand’s operations; often triggered by activist groups or media investigation. c. Solution: Whole of firm response; work with stakeholders; recognize that legitimacy may never be regained. d. Danger: Possibility of brand death unless a major reposition occurs 4. Self-inflicted wounds a. Nature of Unplanned but easily avoided (“known knowns”) minor mistakes that affect brand image b. Cause: Firm employees make mistakes that breach expected brand norms or more likely societal expectations. c. Solution: Marketing team and guilty organizational parties need to quickly respond and take ownership of fault; training and brand policing critical. d. Danger: If untreated, can become major crisis; ongoing missteps can effect reputation. 5. Deliberate a. Nature of Firm triggers faux crisis in order to generate a buzz and clarify positioning b. Cause: Brand team engages in guerrilla style tactics to breach societal norms, or leverage institutions to generate a buzz about the brand that implicitly reinforces its position in a positive way. c. Solution: Brand manager sign off. Know the brand’s position and know the target audience in depth. Seed key networks. d. Danger: It could backfire and spiral into a full-blown crisis; viral campaigns quickly move beyond marketer control; consumers may feel cheated. WHAT TYPE OF BRAND CRISIS IS THIS? 1. Authenticity: 1990s Built around the multicultural nature of its customer base (Pacific, Asian, African) Position as the ”world’s favorite airline” In failing to align its various identities, the brand suffered a backlash and eventually had to return to its original identity 2. Authenticity: In 2001, oil giant company change their slogan into “Beyond Petroleum” But, the brand has a continuous reliance on nonrenewables, its lack of investment in renewable energy, and poor track record in environmental stewardship.In March 2006, a BP oil pipeline caused one of the largest oil spills in Alaska’s history. In 2010, an explosion on its Deepwater Horizon oil rig unleashed the largest marine oil spill in history 3. Reputational: Gapgate Phenomenon transition from “classic, American design” to “modern, sexy, and cool.” to modernize and rejuvenate the company 4. Authenticity: The brand tries to extend their category (Colgate) 5. Legitimacy: Existential challenge. Brand focus on animal entertainment reposition. (Sea World) 6. Deliberate: (Apple) Features of apple products were leaked. MM5720 PRELIMS December 17, 2022 | FRAN | 7. Reputational: Star City ride off-limits after death of customer 8. Legitimacy: Viping is illegal in Singapore 9. Self-Inflicted Wound: Angkas apologizes about their posting UNIT 4: BRAND INNOVATION WHY DOES BRAND EQUITY DECLINE ➔ Points of differentiation become points of parity ➔ Brand underperform on points of parity ➔ Disruptive technologies or business models ➔ User’s life-goals change ➔ User’s life-world change ➔ Ideological shifts that render brand culturally irrelevant ➔ The death/removal/ retirement of the brand’s founder ➔ Mismanagement ➔ Crisis ➔ De-legitimization 3. Usage of design thinking tools to ensure brand’s relevance and authenticity Brand Innovation This broad captures proactive approaches to growing brand (including brand extensions and cobranding) identifying opportunities, revitalization and refreshing and avoiding decline. Brand Revitalization Replace the term “repositioning” and refers to turning around brands that have suffered declines in their equity but nonetheless still have an actual market presence. Brand Re-Launch Refers to brands that have lain dormant for some time. These are removed from the market but may still have some latent equity through low levels of recognition. Brand Refreshing Refers to tactical shifts in the brand program to ensure relevance. These are some regular changes in the logo, design, font, colors, and other more cosmetic actions brand managers undertake regularly. Rebranding A marketing strategy that involves changing a company’s corporate image or organization by developing a new name, symbol, logo and related visual asset. We will examine the following 1. Importance of Brand Innovation to avoid Brand Equity Decline 2. Rebuilding Brand Equity in the cases of decline Reasons for Rebranding ➔ brand aesthetic no longer speaks to your company’s values and products ➔ expanding your business scope and entering a new market, and the name of your business is too limiting. ➔ brand simply isn’t doing a good enough job to differentiate you in the marketplace. MM5720 PRELIMS December 17, 2022 | FRAN | Brand Innovation: 3 Perspectives 1. Mindshare-Based Innovation: Develop a series of distinct and strong brand associations. 2. Cultural Innovation: Emphasis on cultural schisms or moving the brand from one cultural position to the next. 3. Brand Ambidexterity & Design Thinking: Draws on design thinking or the practice's and the thinking methods used by designers to address tricky problems and electronic music: Relevance, Association Cultural Innovation Inherent in the cultural positioning model is the idea that brands must change when they cease resonating culturally. Mindshare Innovation The two engine of brand building are innovation & communication. Think Different ➔ Radical “new to the world” product innovations (category extensions): iPod, iPhone, and iPad ➔ Incremental product innovations (within category line extensions): iPod Nano, iPod Shuffle ➔ Service and Experience Innovation: Educational Experiential Events ➔ Campaigns with musicians including Irish superstars U2 (Partnering) : Red iPod ➔ Adaptation of Mac vs PC Guy Campaign to take Apple’s and Microsoft’s various updates and their differences in user experience: Experiential ➔ Macworld/iWorld events that generated worldwide free coverage of the firm’s new releases and plans: Exclusive Event ➔ Strategic “leaks” of new designs: News Content rather than Paid Ads ➔ Constant software releases and updates in areas historically owned by the firm including photography, movie making ➔ IMAGE: Masculine Persona ➔ MESSAGE: A drink that boost masculinity ➔ TONE: Encouraging, Persuasive ➔ REGISTER: American Male as a breadwinner ➔ IMAGE: Masculine Persona ➔ MESSAGE: A man as action hero. ➔ TONE: Encouraging, Persuasive MM5720 PRELIMS December 17, 2022 | FRAN | ➔ REGISTER: Hardworking men. BRAND AMBIDEXTERITY & DESIGN THINKING ➔ “Wicked problems is a problem that is difficult or impossible to solve because of incomplete, contradictor, and changing requirements that are often difficult to recognize.” ➔ Characteristics of wicked problems 1. Problem is not understood until after formulation of a solution. 2. Wicked problems have no stopping rules. 3. Solutions to wicked problems are not right or wrong. 4. Every wicked problem is essentially novel and unique. 5. Every solution to a wicked problem is a “one-shot operation.” 6. Wicked problems have no given alternative solutions. ➔ Design Thinking: is a collaborative, iterative, experimental and human-centered process that adopts a holistic approach and applies abductive reasoning to problem solving ◆ Abductive Reasoning: The combination of both induction (from instances to theory) and deduction (from theory to instances) ◆ Iterative Thinking & Experimentation: A preferences for trial and error, and learning from feedback. Rather than perfect the offer first time around, design thinkers engage in quick prototyping and adjust quickly. ◆ Holistic Perspective: A focus on the wider system in which a user’s problem or opportunity exists. ◆ Human Centeredness: A focus on the user, but one that acknowledges cognition, emotions and behavior, and seeks to understand the context in which such users seek self-authentication. DOBLIN’S 10 TYPES OF INNOVATION – BRAND Configuration ➔ Profit Model: the way in which you make money ➔ Network: connections with others to create value ➔ Structure: alignment of your talent and assets ➔ Process: signature or superior methods for doing your work outside of operations Offering ➔ Product Performance: optimize extracting core products more effectively, to higer quality ➔ Product System: innovating the product system (e.g. production or innovative use of byproducts) Experience ➔ Service: support and enhancements that surround your core operations MM5720 PRELIMS December 17, 2022 | FRAN | ➔ Channel:how you interact with stakeholders and access or create new markets ➔ Brand: Representation of your business and how you create trust in your brand ➔ Customer Engagement: distinctive interactions you foster, including joint ventures UNIT 4: BUILDING A STORYBOARD ➔ StoryBrand : A method that focuses all your website's content on the customer to ensure clear, consistent messaging. Donald Miller ➔ Too much noise. No emphasize. ➔ Too much cluttered ads ➔ Creating inefficient content ➔ Putting aesthetics over user experience ➔ “ In every line of copy we write, we’re either serving the customer’s story or descending into confusion; we’re either making music or making noise.” Donald Miller ➔ As a brand, you are the creator or the guide. ➔ Your customers should be the HERO of your story. ➔ As the villain, set their problems and pain points. ➔ A solution and successful results. ➔ Completeness is the main idea behind “happily ever after.” ➔ Storybrand: able to provide clear, concise and compelling STORYBRAND 7 (SB7) FRAMEWORK 1. 2. 3. 4. 5. 6. 7. A Character Has a Problem And Meets a Guide Who Gives them a plan And Calls them to action That ends in a success That helps them avoid failure