General Information
Description
The course is intended for second-year MBA students interested in branding issues, and should appeal to many students. Students interested in a career in marketing will find the material essential. Students interested in financial careers should feel at home with the idea that products become brands through marketing investments. Brands are financial assets that can be leveraged, bought, and sold, just like any other asset. Students interested in management consulting should appreciate that brand strategy is an important sub-practice at most strategy-oriented consulting firms. Students interested in legal careers will find the material on brand equity relevant to cases involving trademark infringement/deceptive advertising.
Format
12 regular sessions
Course Mission
- To develop an understanding of the strategic importance of brands in creating value for customers and firms
- To develop skills in planning, executing, and controlling branding strategies
- To develop a customer-based view of brand equity that explicitly addresses the role of cognitive, emotional, social, cultural, and behavioural factors in creating value for consumers
- To develop an understanding of and expertise with a range of methods used to measure brand equity
- To develop skills in identifying threats and opportunities for a brand, executing a research program with consumers, and developing data-driven, consumer insights that yield actionable strategic recommendations
- To develop an understanding of some of the ways that brands have evolved in the digital age
- To develop an understanding of how brand positioning, marketing programs, branding elements, and secondary associations provide essential strategic tools for the brand management process
- To gain familiarity with some of the tools and tactics that firms use to create, sustain, leverage, and defend brand equity
- To refine analytical and decision-making skills and the ability to express conclusions orally and in writing
Course Scope
Brands are defined by a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competitors. However, brands are valuable because those distinctive elements mean something to consumers. Sometimes they make a product more memorable; sometimes they carry rich and powerful associations; sometimes they evoke feelings and emotions; sometimes they perform important social functions; and, sometimes they carry significant cultural meaning. Consumers may even form relationships in which the brands help to define who they are and communicate this self-image to others. The varied meanings and functions of brands for consumers create enormous challenges and opportunities for marketers.
The value that brands can create for consumers also makes the valuable assets for organizations. Brands represent valuable assets that must be created, sustained, leveraged, and defended. Students will assume the role of senior marketing managers responsible for the design, implementation, and evaluation of branding strategies. This course will use case analysis, lectures, discussion, and a group project to reinforce successful decision making and communication skills for students who are interested in developing expertise in managing brands.
Evaluation and Grade Breakdown
| Component | Due Date | Weight |
|---|---|---|
| Class Participation | Ongoing | 20% |
| Brand Audit Proposal (Group) | Week 5 | 5% |
| Written Case Analysis | Week 8 | 40% |
| Brand Audit Project Report (Group) | Week 12 | 30% |
| Brand Audit Project Presentation (Group) | Week 12 | 5% |
Required Resources
There is one required course package, which may be purchased online.
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