Managing Brands in the Digital Era A1MBA Summer 2015

CEU Business School

Building and managing brands in the digital era A1MBA Summer 2015

1. 5 Credits

Instructor Éva Halász (See last page for bio sketch) Class meets (day and time): 17, 24 June, 1, 8, 15, 22 July from 1:30- 4:30 pm Classroom: TBD E-mail:[email protected] Office hours: 12-1 pm during the course Academic Program Coordinator: Melinda Nagy ( [email protected] ) Student Services Mgrs : Aniko Juhasz ( [email protected] ) Zoi Hrisztodulakisz ([email protected] )

1. PREREQUISITIES

2. POLICY ON ADMITTING NON-MBA STUDENTS

Students should have completed the core marketing and strategy courses and should ideally be familiar with basic concepts of finance and microeconomics. There is a cap on class size: ideally not more than 20 students, as this course is designed to be a mix of theory and workshop-like practice.

3. REQUIRED TEXT & READINGS AND WHERE AVAILABLE

Core: Kevin Lane Keller: Strategic Brand Management: A European Perspective. Pages: 1-150, 197-247 and 520-558 Can be obtained as an ebook from Pearson. Please ask Ms Melinda Nagy for details on group ordering. Optional: Chaffey, Chadwick, Johnston, Mayer: Internet Marketing: Strategy, Implementation and Practice (4th Edition)

There are going to be one article to read before each session (except for the last one)

1. French, LaBerge, Magill: We are all marketers now (McKinsey Quarterly), July, 2011 https://www.mckinseyquarterly.com/Were_all_marketers_now_2834 2. Marketing Touchpoints: The UBS story (Prophet consultancy) http://www.prophet.com/thinking/view/220-marketing-touchpoints-the-ubs- story 3. Lucy Jameson: Introducing social creativity, DDB yellow papers http://www.ddb.com/what-we-think/yellow-papers/introducing-social- creativity.htm And Brands and Storytelling by LHBS http://www.lhbs.com/news/2014/12/19/how-storytelling-becomes-brands- powerful-playground

4. Art Kleiner: A Long-Wave Theory on Today’s Digital Revolution http://www.strategy-business.com/article/00074 5. Simon Silvester: How to think digital (Y&R booklets), 2007 a. http://pubs.wunderman.com/digital.pdf

Recommended reading and viewing:

Godfrey Parkin: Digital Marketing: Strategies for Online Success Jon Steel:Truth, Lies, and Advertising: The Art of Account Planning Mad Men (TV Series) http://stream-tv.me/watch-mad-men-online/

4. COURSE OBJECTIVES

Branding is a constantly evolving and fascinating area: building strong brands has always been the Holy Grail of business success. Most areas of business just like the economy change at an unprecedented speed. However, one thing does not change: while finance, HR, even operations are being outsourced, branding will never be. A powerful, differentiated and relevant brand will always remain the most valuable asset for winning companies.

This course aims to provide students with both the theory and practice of building compelling brands on and offline: it teaches them a much sought after way of ambidextrous (analytical and creative) thinking and introduces them to a practical toolkit of brand building and a wide variety of techniques, such as performing communications audits, conducting client brand workshops and developing a solid online presence.

5. MAIN TOPICS

• Key brand elements (brand DNA) and what makes a brand strong • Crafting a brand strategy (strategic framework)

2 • Implementation: Working with organisations, agencies and customers to build brands • Metrics and components of brand equity • Marketing to the global customer • Going digital and using social media • Creating an online strategy

6. INTENDED LEARNING OUTCOMES

Core Learning Area Learning Outcome Interpersonal Communication Students will be able to acquire a unique Skills . mix of analytical reasoning and creative thinking and use narrative and storytelling for a more powerful effect. Technology Skills Students will be able to use social media and websites for business purpose. Power Point and presentation skills will develop further. Cultural Sensitivity and Diversity Students will learn about how companies from different cultures build their brand and internal culture around the brand. Quantitative Reasoning Students will learn how to quantify the value of brands, and how to use their knowledge from microeconomics and finance to make brand decisions. Critical Thinking Students will be encouraged to use their logical and analytical “right brain” and their artistic and creative “left brain” at the same time. This course offers an extremely powerful transferable skill, as it teaches students a unique way of looking at business issues. Ethics and Responsibility Students will be motivated to consider social responsibility of corporations through their brand building. Management Knowledge and Skills Students will learn how to build and manage the most valuable part of the company: its brand. These skills will particularly be beneficial for those who want to be entrepreneurs, work in marketing, strategy or management consulting.

7. HOW THE CLASS SESSIONS WILL BE CONDUCTED

3 The classes will be highly interactive. Lectures and group exercises will alternate, discussions will be continuous. Along with the core textbooks, articles and slides, we will discuss spontaneous case studies, and also use various multimedia to demonstrate key points and learnings. Regular on-time attendance is necessary to fully benefit from and pass the course.

8. POLICY ON THE AVAILABILITY OF LECTURE NOTES

(For example, if you will be using PowerPoints, charts, briefings, overviews, etc,., when and in what form will students receive copies or have electronic access. The Moodle E-learning system should be used to the maximum extent possible.)

9. MINUTE PAPERS

There are two minute papers, and they will be given out during sessions 3 and 5. They will be closed book papers and will consist of a few short questions to test understanding of key issues so far, thus might also contain very short case studies to stimulate critical thinking. A missed minute paper will be awarded an automatic zero.

10. POLICY ON CLASS ATTENDANCE

Regular and punctual attendance at every class session is a requirement of all degree programs at CEU Business School. Each class covers material not found in the readings. Furthermore, participation in class discussions is an important part of the learning experience for all students as well as a factor in grading. If illness or another unusual circumstance requires missing a class, please do your best to inform me (or, if I cannot be reached, the Program Coordinator) in advance. A grade of “AF” (Administrative Fail) may be assigned for failure to regularly attend a course, to drop the course in time, or to complete requirements on time. This is a general CEU regulation that the Business School also follows. The “AF” grade earns no credit, 0 points, and affects your GPA in the same way as a regular “F” grade.

11. CLASS PARTICIPATION

This a stimulating but intense course, so it is in the participants’ interest to attend all sessions in a timely manner. Students must come to classes prepared and participate actively in discussions and in ad-hoc group exercises. This will be reflected in the grading, as class participation will account for 40% of the grade.

The use of laptops (for other purposes than taking notes) and other mobile devices are not allowed in class as they can be very disruptive and hinder students from focusing on the content and the discussions.

12. GRADING

Two minute papers 20 points Group project 40 points Class attendance and participation 40 points Maximum total 100 points

13. ACADEMIC INTEGRITY

The Business School expects all students to adhere to the fundamental principles of academic integrity in any and all behaviors associated with their course work and otherwise, as stated in the CEU Honor Code (see Student Handbook). Attempted cheating of all forms is treated extremely seriously and can result in dismissal from the School and University.

14. LIBRARY AND INTERNET LIBRARY RESOURCES

The CEU Library, at Nador St. 9, has the largest collection of English-language materials in the social sciences and humanities in Central Europe: 180,000 monographs and 30,000 volumes of periodicals, working papers, dissertations and so on. CEU faculty and students have access to 30,000 electronic journals, searchable via the Journal Search tool on the library catalogue page (http://goya.ceu.hu/ ; the icon is in the upper right corner. CEU Business School core faculty, students and staff are automatically eligible for full membership in the Library, after registering at the Circulation Desk. (To use the Library, adjunct faculty should first obtain a pass at the B School Academic Office Rm 311.) The CEU Library has 5,000 business-related titles, supplemented by leading electronic databases, accessible through http://www.library.ceu.hu/databases.html (Click on the icons and then click on the tag next to “connect to”.) The Ebsco Host Business Source Complete contains 3,700 periodicals in full text, many monographs, some case studies, and videos of the Harvard Faculty Seminar Series. Emerald Management Journals collection has a portfolio of 175 journals in management, marketing, econ and finance.

New business databases include OneSource, the most comprehensive company & executive information. Global Market Information Database has comprehensive data and reports across industries, countries and type of consumers. Thomson One Banker provides data on internationally quoted companies, international stock exchange indices, private equity, and financial deals. Science Direct is an extensive full-text database covering authoritative titles from the core scientific literature. The Company Dossier in Lexis Nexis Academic allows users to browse in-depth company profiles and industry reports. Core statistical databases include IFS, GFS Online, OECD Main Economic Indicators, National Accounts Statistics, and Tax Statistics. Econlit at the CSA/Proquest platform provides bibliographic coverage of a wide range of economics-related literature.

Business dailies and weeklies can be accessed through the library. Business Eastern Europe by EIU is a weekly briefing on operating a business in Eastern Europe. Country Reports also by EIU provide in-depth economic, political and business analysis and short-term market outlooks. Electronic versions of The WSJ are in PressDisplay. The Economist is included by EbscoHost. For The Fin. Times online, see Journal Search.

News on economic and social developments in the Caucasus and Central Asia can be downloaded directly (not via the CEU Library): http://www.icegec.hu/eng/index.htm .

Help with Case Studies and Research Projects Available on CEU Library reserve is a reference work that students preparing case- study assignments or undertaking individual or team research projects should find helpful, Business Case Studies: Preparation, Teaching and Learning (compiled, with contributions, by Susan Harmeling, Lead Case Writer, Harvard Business School, and Paul Marer, Professor, CEU Business School). This work, whose reference code is CM-GSB, can be found on the shelf marked Business School Readers, right behind the Circulation Desk, at the CEU Library on Nador utca. The VPN access makes it easy to reach from outside of the CEU network the full version of UIS and all CEU Library databases and journals. (Visit https://vpn.ceu.hu , accept the security-certificate, and enter: User name : ceubs Password : Ceubusi987. The password is case sensitive, and to enter it, only the virtual keyboard appearing on the screen can be used. Once logged in, the "built in" browser can be used to access the respective sites: UIS: https://infosys.ceu.hu .

15. COURSE OUTLINE AND SESSION ASSIGNMENTS 6 sessions

1. Brand strategy and planning-Part 1: The category and the customer

How to conduct a brand audit: communications audit, internal audit, competitor analysis, customer insight.

Customer session: Targeting and different types of segmentation Identifying customer behaviour, motivations, values and key dilemmas How to initiate behaviour change for the brand’s favour Delivering customer benefit though touchpoints (that turn increasingly digital): the CAC (Customer Activity Cycle) model and mapping the customer journey

2. Brand strategy and planning-Part 2: Brand framework

Crafting brand vision and mission Defining brand personality: Brand Archetypes, Mood Boards and Associations Defining brand promise: the Values Ladder

3. Internal branding and brand (e)valuation

Minute paper no1

Internal branding How to turn brand values to cultural values How to align the 3Bs Full brand blueprints Why and how to measure brand value Comprehensive overview of valuation methods: pros and cons Cost and revenue based models The Interbrand method

6 The Aaker model BAV (Y&R’s model) in focus: valuing brands from the customer’s perspective.

4. The digital revolution

The digital revolution: from 360 degrees to 365 days Branding in the “always-on” world Customer engagement and building communities in the digital space The concept of Social Creativity and “Fluidity”

5. Brand communications in practice

Minute paper no 2

More about digital: social creativity in content creation and design The segmentation gap: On one hand, marketing to a new type of digitally savvy consumer: opportunities and challenges On the other, marketing to the global customer: opportunities and challenges

6. Brand building presentations and workshop

In small teams, refresh a chosen brand: perform audit and make recommendations create new brand idea and draft strategy create digital strategy, analyse website, make recommendations suggest ways to measure change

16. BRIEF BIO OF THE INSTRUCTOR

Eva Halasz has more than ten years of guest-lecturing experience (MBA and EMBA- level) of Brand Strategy and Management with the Imperial College Business School and the Judge Business School of the University of Cambridge, UK where she managed to get consistently outstanding student ratings for her interactive and inspirational way of lecturing. Besides her academic work Eva has extensive industry experience, which enables her to give a very broad perspective on her subject, merging the latest theory and practice. Eva worked as a management consultant for Booz&Co London, then as a brand consultant for Y&R, Landor, and DDB’s Innovation Team, which was set up to find new ways of brand building and communications merging strategic, creative and digital excellence. In her career Eva has helped a wide variety of companies to be more successful through better building and managing their brand, having worked on projects in more than a dozen countries.

Eva’s mission is to help her students acquire a new way of thinking and give them solid, practical skills to deal with brand-related issues. Her ultimate goal is however, to make them as passionate about branding as she is.

A native Hungarian, Eva holds an MA from Corvinus University, Budapest and an MBA from Imperial College, London.