Learning Unit 5

Question 1

Explain key issues facing brands.

Answer 1

BLURRY MESSAGING
BRAND CONFUSION
STUCK IN TIME

Question 2

Explain the ten brand challenges.

Answer 2

1. Treating brands as assets (short term financial results)
2. Possessing a compelling vision (resonate/inspire)
3. Creating new subcategories (barrier to entry)
4. Generating breakthrough brand building (big idea)
5. Achieving integrated marketing communication
6. Building a digital strategy
7. Building your brand internally (employees & vision)
8. Maintaining brand relevance (through offerings, understanding market, reasons to buy)
9. Creating brand portfolio strategy that yields synergy (differentiators and energisers managed)
10. Leveraging brand assets to enable growth (portfolio must foster growth)

Question 3

Explain SMART objectives.

Answer 3

• easier to stay on track and accomplish key success factors
• help marketers succeed through more structured approach
• set realistic targets

Types of SMART objectives

• Acquisition Objective
• Conversion Objective
• Engagement Objective

Question 4

Explain the measures design tests for SMART objectives.

Answer 4

Truth (measuring the correct thing)
Focus (measuring only that)
Relevancy (correct performance measure)
Consistency (data collection)
Access (data easily captured)
Clarity (no ambiguity)
So-What (actionable?)
Timeliness (frequent access of data)
Cost (worth expense?)
Gaming (encourage appropriate behaviours)