University of Maryland College Park Robert H.

Smith School of Business

BUMK 716: BRAND MANAGEMENT

FALL 2013 PROFESSOR: Dr. Rebecca Hamilton Office: 3456 Van Munching Hall, College Park, MD 20742 Phone: 301-405-8270 Email: rhamilto@rhsmith.umd.edu

CLASS SCHEDULE: Tuesdays and Thursdays, 1:00 to 2:50pm in VMH 1518 OFFICE HOURS: Thursdays, 3:00 to 4:00pm and by appointment

COURSE DESCRIPTION: Some of the most valuable assets managed by companies today are the brand names associated with their products and services. Strong brands create relationships with customers by differentiating products and services, making customers willing to pay a premium for them. Effective brand management is critical to maintaining the long-term profitability of the firms selling these products and services. This course is designed to develop your understanding of the importance of brand equity as well as how to build, measure and manage brand equity. Topics include understanding brands from the customers perspective, building brand equity, measuring brand equity, managing brands over time, managing brand portfolios and global branding strategies. COURSE OBJECTIVES: Although branding is an art as well as a science, understanding relevant theories and models of branding can help managers make better branding decisions. This course will provide you with both theoretical frameworks and practical tools to address the following questions: How does branding influence consumer behavior? How can I build brand equity? How should I manage my brand equity over time? How should I measure brand equity? How can I build a brand portfolio to leverage my equity? How should I adapt my brand strategy to local markets when expanding globally? Cases and guest speakers will introduce you to a variety of business settings and examples of both successful and unsuccessful branding initiatives. The team project provides the opportunity to apply theory to practice. You will conduct a brand audit and make actionable recommendations for the brands strategy. 1

BUMK 716: BRAND MANAGEMENT FALL 2013

COURSE FORMAT: Class sessions will be a combination of lecture and discussion sessions, exercises, guest lectures, and case analyses. In many cases, topics will begin with lecture and discussion sessions that focus on branding concepts, illustrated with current examples. You will be encouraged to share your experiences both from the marketers perspective and from the customers perspective. Please come to class prepared to discuss the assigned readings. In other cases, topics will be introduced with a guest lecture so that we can see how brand management decisions are made in practice, with attention to real-world constraints. The goal of the case sessions is to apply theory to practice. Cases are effective learning tools because they give you the opportunity place yourself in a variety of business situations. As in real life, there are always several legitimate perspectives and recommendations, and we will do our best to bring these out in our discussions. Thus, the key is not to come up with the right answer to a case, but to analyze the information carefully and come up with solid recommendations that are backed up by the data. To guide our discussions, case discussion questions will be posted on Canvas prior to class. To encourage participation and active engagement during class, you will be asked not to use laptops or other electronic devices during case discussions and guest speaker presentations.

COURSE MATERIALS: Course Pack: A collection of required readings and cases is available via the Harvard Business School Publishing website: https://cb.hbsp.harvard.edu/cbmp/access/22373761. Course Website: Course materials will be available on our class website via Canvas: https://myelms.umd.edu/. Select course BUMK 716. Online Materials: For some of our analyses, it will be helpful to refers to online databases such as MediaMark Internet Reporter (www.mriplus.com) and Mintel (access via http://vbic.umd.edu/). Instructions for accessing specialized databases will be provided in class or you may email me for instructions. Optional Readings: If you would like to read more about a particular topic, I have recommended several optional articles and books on the syllabus.

BUMK 716: BRAND MANAGEMENT FALL 2013

GRADING: Course grades will be based on a combination of individual and team scores: Class participation Individual assignments o Customer-Brand Relationships (15%) o Brand Repositioning Assignment (15%) Team project : Brand Audit o Proposal (5%) o Brand audit and executive summary (20%) o Peer evaluation (5%) Final exam 25% Individual 30% Individual

30% Team

15% Individual

CUSTOMER-BRAND RELATIONSHIPS ASSIGNMENT: Conduct a depth interview with a family member or a friend who is not a member of this class. If possible, conduct your interview in this persons home. Your goal is to understand this persons relationships with brands. Summarize the persons important life experiences as they relate to their brand experiences. Discuss this persons relationships with various brands, modeling your analysis after the interviews conducted in the Brand-Person Relationships case. Brands should include both durables and consumer packaged goods, both high-technology products and lowtechnology products. Select one brand and discuss how the brand manager could improve or leverage this consumers relationship with the brand. Please prepare a five to six page paper (double-spaced), due in class on Tuesday, November 5.

BRAND REPOSITIONING ASSIGNMENT: Sometimes brands need to be repositioned to stay relevant to their current customers or to attract new customers. In this assignment, you will identify a brand that you believe would benefit from repositioning and recommend a strategy for executing this change in customer perceptions. First, research this brands customer base using resources such as MediaMark Reporter and Mintel. Describe this brands current customers. Second, justify why this brand should be repositioned. Has the brand lost market share recently? Is the brand losing the most profitable customers to competitive brands? Which customers should the repositioned brand target? Finally, propose a strategy for repositioning this brand. What should be the brands key PODs and POPs with respect to competitors and how should they be communicated? For example, should the brand introduce new products or develop a new message that will resonate better with their target customers? How will the brand avoid alienating its current customers? Please prepare a four to six page paper (double-spaced), due in class on Thursday, November 21. BUMK 716: BRAND MANAGEMENT FALL 2013 3

BRAND AUDIT ASSIGNMENT: A brand audit assesses the degree to which a brand has achieved its aspirational (desired) brand identity. This team project will give you the opportunity to work with other members of the class to apply some of the concepts, theoretical frameworks and tools you have learned to a real brand. Form a team of 4-6 members and identify a brand that interests you. Be sure that you will have access to a range of the brands marketing materials and to some of the brands customers for conducting your brand audit. Proposal: By November 14, please send a onepage proposal to me listing your team members, identifying the brand you will audit, and describing your plans for conducting the brand inventory and brand exploratory described below. Please be specific about the marketing materials you will review for the brand inventory and the research methods you will use for the brand exploratory. Conducting the brand audit: First, as a group, research the brands aspirational identity: how does the brand want to be perceived by its customers? You may conduct your research by reviewing the brands website, social media presence and marketing materials, reading articles in the popular press or the parent organizations annual report, or by talking with employees who work with this brand. Which components of customer-based brand equity do the brands stewards believe are most important for this brand? Brand inventory: Assign 2-3 members of your team to conduct a brand inventory. A brand inventory measures the degree to which the brands external communications consistently portray its aspirational identity. Review as many marketing materials for the brand as you can find: e.g., website, social media, online, television, radio and print advertising, event sponsorships, and even product packaging (where applicable). Copies of these materials should be included as appendices to your presentation. How consistently do these materials portray the brand? For example, are the brand name and its logo presented consistently? How do the materials communicate the brands positioning to the audience? Which components of customer-based brand equity are being most strongly reinforced by brand marketing? Brand exploratory: Concurrently, assign the other 2-3 members of your team to the brand exploratory. In a brand exploratory, managers conduct research with the brands customers to measure their perceptions of the brand on key components of customerbased brand equity. This exercise will allow you to assess the degree to which customers have internalized the brands aspirational identity. To measure customer perceptions, your team may use any of the research methods we have discussed in the course (e.g., interviews, focus groups, conjoint analysis, ZMET, brand concept maps, surveys). Please include samples of your research materials and a summary of the data you collect in an appendix.

Finally, gather all of your team members together and conduct an analysis of the gaps between the brands aspirational brand equity and customer perceptions of brand equity (based on the brand exploratory). To what extent are these gaps due to the manner in which the brand

BUMK 716: BRAND MANAGEMENT FALL 2013

communicates its identity (based on the brand inventory)? What recommendations does your team have for improving the brands external communication to decrease the gaps between their aspirational brand identity and the way customers perceive the brand? Please prepare a PowerPoint presentation with detailed explanations in the notes section of the slides and appendices documenting your methodology and results as your team deliverable. In addition, please prepare an executive summary of your project to be presented in class on Tuesday, December 10 or Thursday, December 12. Each team member should also forward to me his or her completed one-page peer evaluation form (posted on Canvas). FINAL EXAM: The final exam for the course will be posted on Thursday, December 12 and will be due on Thursday, December 19. You may submit your completed exam to me via email any time on or before the due date. ACADEMIC INTEGRITY: The University's Code of Academic Integrity is designed to ensure that the principles of academic honesty and integrity are upheld. All students are expected to adhere to this Code. The Smith School does not tolerate academic dishonesty. All acts of academic dishonesty will be dealt with in accordance with the provisions of this code. Please visit the following website for more information on the University's Code of Academic Integrity: http://www.studenthonorcouncil.umd.edu/code.html On each assignment you will be asked to write out and sign the following pledge. "I pledge on my honor that I have not given or received any unauthorized assistance on this exam/assignment." All sources used must be properly referenced using Smith School approved citation style. See link below for citation style guidance and examples. Click on the links to Business and see the online version of the AMA Style manual (through NetLibrary). http://www.lib.umd.edu/guides/style_manuals.html SPECIAL NEEDS: Any student with special needs should bring them to my attention as soon as possible, preferably not later than the second week of class.

FEEDBACK: I welcome your comments and appreciate your suggestions. If you would like to provide feedback to me on a specific topic or on how you think the course is going in general, please feel free to meet with me before or after class or in my office, or send me an email.

BUMK 716: BRAND MANAGEMENT FALL 2013

COURSE EVALUATIONS: Course evaluations will be administered both in class (on paper) and online. The online system, CourseEvalUM, will be open for you to complete your evaluation for this course during the last few weeks of the semester. Please go directly to the website (www.courseevalum.umd.edu) to complete your evaluations. By completing all of your evaluations each semester, you will have the privilege of using Testudo to access evaluation reports for other courses for which 70% or more students submitted their evaluations.

BUMK 716: BRAND MANAGEMENT FALL 2013

COURSE SCHEDULE TOPIC Understanding the Influence of Brands on Consumer Behavior DATE Oct. 24 ASSIGNMENTS Reading Keinan and Avery (2008), Understanding Brands, Harvard Business School Note Rust, Zeithaml and Lemon (2004), CustomerCentered Brand Management, Harvard Business Review Optional Reading Adamson (2007), Brand Simple Kahneman (2011), Thinking, Fast and Slow Neumeier (2006), The Brand Gap Due: Student Information Sheet Oct. 29 HBS Case: Exploring Brand-Person Relationships: Three Life Histories Reading Keller, Sternthal and Tybout (2002), Three Questions You Need to Ask About Your Brand, Harvard Business Review Ivey Case: The LEGO Group: Building Strategy Nov. 5 Reading Berry and Bendapudi (2003), Clueing in Customers, Harvard Business Review Optional Reading Aaker (2011), Brand Relevance Roberts (2004 ), Lovemarks Wheeler (2006), Designing Brand Identity Guest Speaker: Christina Raia, Founder, Raia Light LLC Due: Brand-Person Relationships Assignment

Building Brand Equity

Oct. 31

BUMK 716: BRAND MANAGEMENT FALL 2013

TOPIC Managing Brand Equity Over Time

DATE Nov. 7

ASSIGNMENTS Reading Berthon, Holbrook, Hulbert and Pitt (2007), Viewing Brands in Multiple Dimensions, MIT Sloan Management Review Johar, Birk and Einwiller (2010), How to Save Your Brand in the Face of a Crisis, MIT Sloan Management Review Optional Reading Heath and Heath (2007), Made to Stick Ulrich, Dave and Norm Smallwood (2007), Building a Leadership Brand, Harvard Business Review. Guest Speaker: Bill Blubaugh, Brand Director, Hershey Foods

Nov. 12

HBS Case: Eileen Fisher: Repositioning the Brand Guest Speaker: Amanda Peters, Head of Social Media, iCrossing

Measuring Brand Equity

Nov. 14

Reading Berg, Matthews and OHare (2007), Measuring Brand Health to Improve Top-Line Growth, MIT Sloan Management Review Gorry and Westbrook (2011), Can You Hear Me Now? Business Horizons Optional Reading Lindstrom (2008), Buyology Guest Speaker: Katie Cleary, Manager, Customer and Consumer Insights, Campbell Foods Due: Proposal for Brand Audit Assignment

Nov. 19

HBS Case: The Coop: Market Research

BUMK 716: BRAND MANAGEMENT FALL 2013

TOPIC Managing a Brand Portfolio

DATE Nov. 21

ASSIGNMENTS Reading Aaker and Joachimsthaler (2000), The Brand Relationship Spectrum, California Management Review Kumar (2003), Kill a Brand, Keep a Customer, Harvard Business Review Optional Reading Aaker (2004), Brand Portfolio Strategy Due: Brand Repositioning Assignment

Nov. 26

HBS Case: Ben & Jerry's: Preserving Mission & Brand Within Unilever HBS Case: Colgate Max Fresh: Global Brand Roll-Out

Strategies for Global Branding

Dec. 3

Dec. 5

Reading De Mooij (2010), Tailoring Your Strategy to Fit the Culture, IESE-Insight Magazine Holt, Quelch and Taylor (2004), How Global Brands Compete, Harvard Business Review Optional Reading De Mooij (2010), Consumer Behavior and Culture: Consequences for Global Marketing and Advertising Guest Speaker: Jed Jecelin, Senior Brand Manager Marketing Communications, Under Armour

Team Presentations and Wrapup

Dec. 10

Optional Reading Arruda and Dixson (2007), Career Distinction Due: Brand Audit Assignment

Dec. 12

BUMK 716: BRAND MANAGEMENT FALL 2013