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Managing Brands in Challenging Times. Dr. Royce Yuen Visiting Associate Professor, HKU Chairman, Ogilvy Hong Kong Chairman, HK4As. Value of Brand is widely recognized. In mid-2002, the stock market value of Coca-Cola was US$ 136 billion Yet the book value was only US$ 10.5 billion
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Managing Brands in Challenging Times Dr. Royce Yuen Visiting Associate Professor, HKU Chairman, Ogilvy Hong Kong Chairman, HK4As
In mid-2002, the stock market value of Coca-Cola was US$ 136 billion • Yet the book value was only US$ 10.5 billion • Estimated value of Coca-Cola brand name was US$ 70 billion, well over half of its intangible value
Yet building brand has never been more challenging !
"Ordinary people can spread good and bad information about brands faster than marketers." Ray Johnson
Kryptonite • The “unbreakable bonds”
“A brand is more than a logo. A brand is a promise.” - Mike Holland
As a result … Consumers are becoming more skeptical
Hint Number One • Under promise, over deliver
Hint Number Two • Do what matters to consumers, not you • Focus on consumer insight
Hint Number Three • Manage all the stakeholders
The Stakeholder Universe Authorizers Business partners Government Regulators Board of Directors Professional societies Shareholders Employees Unions Suppliers Distributors Service providers Activist groups Journalists Experts Analysts Community groups Demographics Market segments Geography High value Mass External influencers Customers
Hint Number Four • Take prompt and decisive action
Hint Number Five • Respect the local culture
Hint Number Six • Be sensitive to political implications
The Marco Polo Bridge (luguoqiao) Incident marked the beginning of the Sino-Japanese War (1937 – 1945)
What is acceptable in one country may not be acceptable in another country • What may be humourous can be seen as an offense