On October 23rd, 2014, we updated our
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A brand needs relevance ( personal – meaning and communication ), coherence ( consistent, clear, and understandable ), and participatory ( two way communication, customer builds brands, and being involved ).
A brand requires mutual-trust , a common identity, and a point of difference between brands.
Internal Customer Industry Profile Segmentation Brand Creation Marketing Mix
Usage rate, dollar value, elasticity…etc = life time value
What is their buying process?
Are they currently satisfied (next section)
Understand your environment
Who are your competitors?
What is their brand position?
Is it dominant?
What are their strengths and weaknesses?
What is your ‘PEST’ analysis?
What is your ‘Porter 5’ analysis?
Segment your market
Segment based on your customer’s needs
What is the current and future economics of your segment?
Consider growth, behaviour, price and service requirements.
Utilize scenario planning (what if?)
Segment your market 4
Segment your market 4
Build your brand vision
Put together everything you know about the customer, the industry, and yourself
Where do you want your brand to be over the longer term to support your long term business strategy .
Where do you see there being a space for your brand
Develop your brand identity
Starts with who you want to be, then how you communicate it
6 What is communicated to selected target segments What is currently perceived by customers Core identity Extensions “ Innovative” “ Entertainment” “ Steve Jobs” Brand Essence
Build your brand promise
A brand is a promise . The basis of any brand is its core promise, which other components of the brand are built around .
Industries and markets evolve and change. Brands
and its promises live on.
What does your brand mean to you and the customer
Build your brand personality 8 Brand Key words? Innovative Reliable Stylish Masculine / Feminine Rebellious Friendly Products also have their own personality that is a subset of the brand personality Key Question: Who is your brand? What is his/her personality if it was a human?
Build your brand personality 8 WholeFoods
Build your brand strategy 9
Translate brand promise into a customer experience strategy for brand delivery
The strategy describes the service characteristics
Create the service process (tasks and activities)
Create the means (product, people, technologies)
Find the evidence of your brand
Approaches 9 Approach is by formal planning process. Application of portfolio and PLC together with competitive positioning Approach is by functional manner Advertising and creative design takes lead role Approach is by building everything around the consumer Quality, positive image, and functional benefits is assumed. This focuses on dazzling the senses, touching hearts, and stimulating the mind. Approach is by through customer involvement. For customers, the brand builds their own personal brand. It represents themselves .
Brand overview 10
Understand a day in the life of a customer.
With that, identify opportunities to create customer engagement.
Map out the customer engagement opportunities against the brand vision
Analyze the economic (value) implications of these ideas.
Create the key metrics to measuring success.
Position your brand 11 What four quadrants is your brand in?
Create your brand statement 12 “ TO TARGET, BRAND is the PRODUCT that DOES WHAT (INCENTIVE/DIFFERENTIATION) because / as a result of (PROOF/EVIDENCE) ” Internal Brand Statement L’Oreal: To women, L’Oreal is _____________ because of _________. External Brand Statement L’Oreal Tag Line: You’re worth it.
Position analysis tools 13 Positioning Map Strategic Canvas Focus on creating positive differentiation points