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L3: Communication (Brand Identity (Tagline (Brand identity should be…
L3: Communication
Brand Identity
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Tagline
Brand identity should be portrayed in tagline: short and powerful is good in noisy (competitive) markets
Behold extreme customers
Loyal, have resources, add real value, defensive WOM when brand is under attack, walk the talk (71% spend 1/3 of lifetime income on that brand)
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Internal Communication
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Facilitates external marketing (WoM, Employee customer expectation delivery)
Example Harley
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Company cannot afford to be inconsistent with employees --> when work for Harley you better drive a Harley
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External Communication
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Memorable, clear, visualisable
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Statement
Mission Statement
Should highlight beliefs of founders and management and what the company intends to stand for: Employees should uniform belief in it
Should include offered benefits and how benefits are delivered, purpose, goals
e.g. McKinsey: Effective improvement for customer's performance and to build a great firm, which attracts talent
Positioning Statement
Identify target market
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Based on?
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Age (toys, insurance, events)
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Transaction barriers
Refer to obstacles that prevent customer from engaging in a successful transaction act: Time, place, cost and perceptual barriers