Summary: Brand-Leadership
Review and Analysis of Aaker and Joachimsthaler's Book
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Summary: Brand-Leadership
Review and Analysis of Aaker and Joachimsthaler's Book
About This Book
The must-read summary of David Aaker and Erich Joachimsthaler's book: `Brand-Leadership: The Evolving Paradigm`.
This complete summary of the ideas from David Aaker and Erich Joachimsthaler's book `Brand-Leadership` shows that creating and progressively building strong brands is an important commercial activity for most business enterprises. However, the way that strong brands are built is rapidly changing and evolving. A new paradigm is emerging in which achieving brand leadership is becoming more important than simply building brand equity. In fact, the paradigm for brand building is evolving from the tactical and reactive approach of traditional brand management to the much more strategic and visionary brand leadership approach.
Added-value of this summary:
• Save time
• Understand the key concepts
• Increase your business knowledge
To learn more, read `Brand-Leadership` and discover how to overcome and address the challenges brought by today’s new brand paradigm.
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Summary of Brand Leadership (David Aaker and Erich Joachimsthaler)
The New Paradigm
Achieve brand leadership
- The brand building strategy should be aligned with the business strategy of the overall business enterprise.
- Brand leaders should be strategic and visionary rather than reactionary and focused on tactics.
- Brands are long-term intangible assets of the business, and programs which build the brand creates assets that underpin the future success of the business enterprise.
- Brands enable a business to avoid the need to compete on price and instead sustain premium pricing levels.
- The actual value of the brand is difficult to quantify precisely but it can be estimated as a percentage of the earnings stream generated by each major product.
- Virgin Atlantic Airways – founded and led by Richard Branson with the objective of “providing all classes of traveler with the highest quality of travel at the lowest cost”.
- L.L. Bean – with its legendary “Guarantee of 100% satisfaction”
- Marriott – which is in the process of extending its brand by creating Marriott Residence Inns, Courtyard by Marriott and Fairfield Inn by Marriott.
- Adidas – with a new focus on participation in sport rather than attempting to equip just the elite sports people.
- Nike – with the successful introduction of its flagship stores, NikeTown, and Air Jordans.
- Swatch – which, since its 1983 launch, has built its brand around the concept of fun, youthful and provocative watches.
- MasterCard – which has become a brand leader by sponsoring the soccer World Cup.
- Identify the earnings stream for each major product in the brand family.
- Decide what proportion of that earnings stream can be attributed to:
- Fixed assets – plant and equipment.
- Intangibles – patents, systems, people or processes.
- The brand.
- Aggregate the various product market values to determine an overall value for the brand equity.
- Brand awareness – is important because customers like the familiar. Awareness effects perceptions and consumer tastes. Any brand that achieves high levels of awareness is more likely to be chosen over its competitors.
- Perceived quality – is a special type of association in the mind of the consumer. Brands that are perceived as being high quality are more profitable because they can demand and receive premium pricing.
- Brand associations – are what connects the customer and the brand. This will be a dynamic mix of images, product attributes, organizational attributes, symbols and the brand personality. A large proportion of brand management activities are involved with forming and shaping these associations.
- Brand loyalty – lies at the heart of the value of a brand. The greater the loyalty, the higher the brand is valued, but even those brands which have...
Table of contents
- Title page
- Book Presentation
- Summary of Brand Leadership (David Aaker and Erich Joachimsthaler)
- About the Summary Publisher
- Copyright