Aaker-Joachimsthaler & Partners

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About US | Back

Aaker-Joachimsthaler & Partners Aaker-Joachimsthaler & Partners was formed in 1994 as a principal partnership between Professors David A. Aaker, author of Building Strong Brands, and Erich A. Joachimsthaler, co-author of the forthcoming Implementing The New Paradigm in Managing Brands. With the support of a team of researchers and consulting partners, AJ&P utilizes its substantial branding and brand strategy expertise to offer its select clients cutting-edge brand strategy consulting services and targeted executive training programs. Aaker-Joachimsthaler & Partners specializes in brand equity maximization. The increasingly competitive global marketplace coupled with the fragmentation and rising costs of mass media outlets has created a critical demand for innovative brand equity building strategies. Today, corporations face the problem of how to coordinate and maximize brand equity across a diverse spectrum of markets while maintaining a consistent brand identity. Through the maintenance of close relationships with industry leaders and our ongoing research, Aaker-Joachimsthaler & Partners keeps track of innovative and trend-setting brand strategies across a variety of industries. Aaker-Joachimsthaler & Partners brand strategy consulting, brand valuation, and executive development services are based on a cultivated specialization in:

Brand Identity Development
Brand Building Strategies
Brand System Architecture Development
The Development of Brand-Nurturing Organizational Forms

The Aaker Brand Identity Planning Model STRATEGIC BRAND ANALYSIS

Customer Analysis Competitor Analysis Self Analysis · Trends · Brand image/identity · Existing brand image · Motivation · Strengths, strategies · Brand Heritage · Unmet needs · Vulnerabilities · Strengths/capabilities · Segmentation · Organization values

The Brand Identity System BRAND IDENTITY

^Extended

Core

_Brand

^Essence

Brand Brand Brand Brand

as Product as Organization as Person as Symbol

1. Product Scope 7. Organization attributes 9. Personality 11. Visual Image

2. Product Attributes e.g. Innovation e.g., Genuine & Metaphors

3. Quality/Value Consumer Concern Energetic 12. Brand Heritage

4. Uses Trustworthy Rugged

5. Users 8. Local vs. Global 10. Customer/brand

6. Country of origin relationships VALUE PROPOSITION CREDIBILITY Functional Emotional Self Expressive Support other Brands Benefits Benefits Benefits RELATIONSHIP Brand Identity Implementation System BRAND POSITION · Brand Identity/Value Proposition Subset · To be Actively Communicated · At a Target Audience · Providing Competitive Advantage EXECUTION

Strategic Imperatives Select Media/Creative Symbols Testing Tracking Brand Consulting Aaker-Joachimsthaler Brand Consulting Aaker- Joachimsthaler & Partners is uniquely qualified to help clients to increase the breadth, depth, value and relevance of their brands in the current environment of increased brand volatility. AJ&P’s full-service consulting delivers cutting-edge solutions, enabling clients to create and integrate knowledge that increases long-term brand-value. We combine world-class expertise with a focused team approach, to identify, develop and measure brand strategies that impact our clients. Our work with select partner firms specializing in market research enhances our ability to provide a full range of brand consulting services. AJ&P’s Brand Strategy Laboratory compiles and analyzes industry-wide best practices, which provides our clients with a bench-mark against which they can measure the viability of their own brand policies. We conduct comprehensive field research of branding practices in over 20 countries. Our current database contains the best practices of over 500 brands. AJ&P’s select and confidential client list includes Fortune 500 companies as well as smaller regional brands in the following sectors:

packaged goods
telecommunications
automotive
tourism and hospitality
financial services
pharmaceuticals
medical equipment
oil, gas, and petrochemicals
high technology

Client projects are jointly managed by Erich A. Joachimsthaler and David A. Aaker. Brand Valuation Aaker-Joachimsthaler Brand Valuation The Aaker-Joachimsthaler set of approaches to brand valuation have been developed over the last seven years of research and consulting practice. Their origins can be traced to research work published in Prof. Aaker’s best selling book, Managing Brand Equity, published by the Free Press in 1991. Through close collaboration with leading intellectual property consulting firms, Aaker-Joachimsthaler & Partners have developed proprietary methodologies and valuation techniques to offer cutting-edge brand valuation consulting services. The objective of brand valuation is to:

value the brand and key sub-brands by product line and market
provide a better understanding of how brand power works to create value, and
to establish relationships between changes in brand investments and its effects on brand equity.

Aaker-Joachimsthaler & Partners utilizes three primary models in its brand valuation: 1. The earnings-based model of valuation provides a brand value based on an estimation of the earnings due to the brand. 2. The stock value model of valuation starts with the stock market valuation of the firm. It assumes that the stock market already takes into account market growth, brand extension potential and the relative strength of the brand. Since stock market often undervalues brand assets, this approach provides a lower-bound estimate of total brand value. 3. The price premium model of valuation provides an estimate of cross elasticity—how much price reduction would a firm with an unbranded or weakly branded product have to give in order to entice a customer to switch. In addition to sound estimation of the financial value, the approaches provide:

The value of intangibles by product and market
Estimates of industry growth by product and market
Estimates of brand growth from line extensions and brand extensions
The size and sales of the loyalty segments. The link to loyalty of the brand image dimensions.
An analysis of relative brand strength, attribute strength, and cost savings
A valuation of sub-brands
An analysis of the relative contribution of brands and attributes
An analysis of the will to support the target brands and actual and potential competitor brands

An analysis of the ability/assets to support the target brands and actual and potential competitor brands.

Executive Development | Back

Aaker-Joachimsthaler Brand Management Training The brand asset is often a key basis for sustainable competitive advantage in both existing and new markets. Thus managers need to learn to build strong brands. AJ&P believes that brand strategy is a cross-functional business activity and should thus be a priority at all levels of the organization. Toward this end, AJ&P has developed a series of modular instructional programs, designed to expose executives to state-of-the-art, non-product-oriented strategic approaches to branding. Our one to five day executive training sessions focus on basic brand concepts, development of brand identity, brand positioning, and brand strategy. We also address organizational design and competitive and product development issues. The program curriculum is tailored to the needs of specific industry groups and executive functions.

Seminars | Back

AJ&P Brand Seminars are intended for experienced managers and executives who have significant brand responsibilities. Through the provision of a coherent conceptual framework and logical approach to the analysis of brand strategy, the seminars are designed to reenergize and refocus executive thinking around recent developments in strategic brand management. We also offer introductory branding programs on request. Workshops AJ&P Brand Workshops provide a comprehensive, integrated curriculum conducive to extensive problem-solving interaction among participating executives and workshop leaders. The workshops provide a stimulating learning environment in which participants broaden and sharpen their perspectives on how to manage and lead innovative changes in brand practices. The case-study method is an integral component of the Workshops, fostering interactive and dynamic analysis and discussion of real-world brand dilemmas. Executive Briefings AJ&P Executive Briefings are topical presentations designed to brief executives to cutting-edge developments in brand strategies, based on our partners’ expertise and the research of our Brand Strategy Laboratory. Keynote Speeches Based on availability, David A. Aaker and Erich A. Joachimsthaler are available for keynote speeches, specifically written to meet the needs and demands of client audiences. Sample Training Module Aaker-Joachimsthaler Sample Training Module The purpose of the AJ&P brand modules is to build a conceptual framework and template for analyzing and understanding branding and strategy problems. This sample program covers the essentials of branding and brand strategy. It prepares participants for a new broader, non-product oriented and more strategic role of branding. Participants gain:

a solid grasp of the essential branding and brand strategy formulation process
an understanding of the challenges that have risen in brand management
a set of tools and procedures that are used by cutting-edge firms to build brands around the world
the ability to identify alternative brand-building strategies and to choose between them
proven methods and frameworks that build brands.

The learning process is intensive and "process-driven." Primary emphasis on participative learning experiences, in which participants to develop ideas, test their judgement, and sharpen their decision-making skills Click here for an overview of some of our Brand Seminar Modules.

Aaker-Joachimsthaler’s Building Stronger Brand Seminars

Overview The purpose of the Aaker-Joachimsthaler & Partners brand seminar modules is to build a conceptual framework and template for analyzing and understanding branding and strategy problems that should be useful for executives in all business functions. The idea of the brand as a driver of business strategy has many implications. One is that brand strategy should be a priority at all management levels of the corporate hierarchy including senior management. Another implication is that developing brand strategy and implementation is a cross-functional business activity. One driver of successful management is brand strategy. The brand asset is often a key basis for sustainable competitive advantage in both existing and new markets. Thus, managers need to learn to build strong brands.

Module 1: The Value of the Brand

Objectives Through the presentation and analysis of branded and unbranded products and services, Module 1 attempts to answer that following fundamental question: How can companies make the transition from product management to brand management. This module addresses the fundamental concepts of branding:

what is a brand;
how it differs from a product, logo, package or advertising campaign, and
the historical development of branding as markets have grown and changed.

Major Topics

The difference between brands and products or marketing tools

Brands versus names/descriptors

Managing the brand function

Module 2: Managing Brand Equity

Objectives Module 2 introduces the concept of brand equity. Brand equity adds value to customers and the firm and divides into four major asset categories. The module explores the role of brands and brand strategy as a key resource in the value-creation process. After a complete overview of the model and process by which these categories are managed, the cutting-edge best practices used companies to build a brand’s equity are presented.

Major Topics

Bottom-line benefits for businesses that adopt a brand focus

Activities that build substantial brand equity

Methods of diagnosing opportunities for building brands

Module 3: Brand Identity, Brand Positioning and Image

Objectives There are two major perspectives on managing brands: the image-oriented and the identity-oriented management of the brand. Image orientation has been the traditional approach over the last 30 years. Recently, the identity-oriented approach has become important, particularly in business-to-business marketing. Through the development of a brand identity statement, the basic imperative of identity-oriented brand management is the development of a clear brand identity that can be deceminated throughout all aspects of a company. This identity should have a well-defined core and generate a value proposition. Module 3 provides four different strategies for developing a strong, clear brand identity.

Major Topics:

Key concepts, tools and approaches for the management of brands

Traps and obstacles in building strong brand identities

Managing the interface between identities, positions and execution

Module 4: Managing Brand Systems

Objectives Managing brand systems involves recognizing that an organization’s products and brands should be viewed not only as performers but as elements of a mutually supportive system of brands. A brand system serves as a launching pad for new products or brands and as a framework for all the brands in the system. In order for the brand system to thrive, it must have a reciprocal relationship with each brand in it; they must support the system as much as the system supports them. Module 4 focuses on two areas critical to the management of the brand system: understanding brand roles and measuring brand strength. Several complex brand hierarchies and architectures are analyzed to illustrate brand roles. Tools and techniques to measure brand strength are also outlined. These tools can be used to diagnose brand health as well as to develop standards against which the investment in a brand can be measured. A method of developing a brand equity measurement instrument is outlined.

Major topics:

The process of managing complex brand hierarchies

Best practices in the measurement of brand equity in US and European companies

Module 5: Leveraging the Brand

Objectives: Strong brands can be leveraged. Weaker brands can be built into stronger brands through various collaborative efforts between organizational units and between companies. Module 5 addresses approaches which include co-branding, brand alliances, ingredient branding, and licensing,. In this module, these approaches and other newer forms of collaboration to build or leverage brands are outlined. A related topic is the management of brands over time. Issues that arise include: the organizational processes and systems needed to manage the brand over time, the distribution of brand responsibilities across functions, the need for pluralistic brand strategies (i.e. a market-by-market approach rather than a monolithic approach), and the use of mega-brands versus sub-brands.

Major topics:

Building a strong brand through partnering
Essential techniques and tools that are useful for managing brands over time
Major errors in the management of brands over time

Module 6: Organizing for Brand Building

Objectives: The most critical aspect of brand strategy is how to make it happen. Key questions that arise in implementing brand strategy are:

who should be in charge of implementing the strategy,
whether brand strategy can or should be outsourced to marketing partners such as the advertising agency, and
which organizational processes, systems and policies facilitate the coordination of the brand strategy and implementation process across the organization, the media, and markets.

Module 6 presents alternative organizational structures and processes that facilitate the building of strong brands. Key implementation factors are examined and discussed.

Major topics:

Making brand-building happen
Collaboration with marketing partners and suppliers
Distribution of brand responsibilities

Aaker-Joachimsthaler Partners

Erich Joachimsthaler is a Founding Partner of Aaker-Joachimsthaler & Partners and a Visiting Professor of Business Administration at the Darden Graduate School of Business Administration, University of Virginia. He is the author of more than 40 articles in the leading academic journals and served on the editorial board of the International Journal for Research in Marketing from 1991 to 1997. In addition to this research work on global brands, over the last 15 years he has been actively involved in consulting work related to the design of brand equity measurement systems, and the development of brand strategy in Europe and Latin America.
David A. Aaker is a Founding Partner of Aaker-Joachimsthaler & Partners and the B.T. Grether Professor of Marketing Strategy at the Haas School of Business, University of California, Berkeley. He is a recognized authority on brand equity and brand strategy and was a winner of the 1996 Paul D. Converse Award for outstanding contributions to the development of the science of marketing. He has published over 80 articles and 10 books including Managing Brand Equity, Developing Business Strategies and his most recent book, Building Strong Brands. Cited as one of the most quoted authors in marketing, Professor Aaker is an active consultant and speaker in the US, Europe, South America, and Japan, and is on the Board of Directors of California Casualty Insurance Company.
Michael Rukstad is a Faculty Partner of Aaker-Joachimsthaler & Partners and an Adjunct Professor at the Wharton School, University of Pennsylvania. He was a faculty member of the Harvard Business School for ten years, and has also taught at the Stanford Business School, the National University of Singapore, and the Darden Graduate School of Business Administration at the University of Virginia. He has received several awards for teaching excellence and is the author of two books on strategy and macroeconomics. In addition to his academic work, he has provided strategic consulting and executive education seminars to international corporate clients since 1982.
Kate Hart is a Consulting Partner of Aaker-Joachimsthaler & Partners. A former Marketing Director for Nestle USA, she has over 10 years of experience in the strategic management of brands such as Carnation and Contadina. She received her MBA in 1986 from the Haas School of Business at the University of California, Berkeley.

How to Reach Us

For more information on our consulting services or our custom designed executive training programs, please contact:

Aaker-Joachimsthaler & Partners 1340 Seminole Trail
Charlottesville, Virginia 22901
USA
Tel: 1-804-964-0284
Fax: 1-804-964-0285
E-mail: eaj7f@virginia.edu
Visit our website at: http://www.brandconsulting.com