1st unrecorded brand strategy : when a potter put an imprint of his thumb in the wet clay or
A toolmaker carved a distinguishing mark into the handle of a blade
Whatever the origin, the practice of identifying the goods (and later, services) with the craftsman who created them gave early consumers a means to distinguish the goods of one maker from those of another.
This added another dimension on which buying decisions could be made.
In addition to considering the price, availability, and functional attributes of the pot or the tool, buyers could take into consideration their knowledge of the maker, his reputation for quality, for consistency, for honesty and his standing in the community.
The craftsman soon came to realize his “maker’s mark” added value to his wares.
It gave him intangible competitive advantages that translated into a greater demand for his products, and that because of it, he could charge more for his “marked” product than for one of unknown origin.
Eventually, the rise of merchants, brokers, and other resellers added another dimension to the concept of the “brand,”
The distribution channel created another level of marketplace sophistication and transformed the two-way relationship between maker and buyer into a three-way association of maker-seller-buyer..
The emerging marketplace of the 21st century is infinitely more complex than that of the ancient potter or the toolmaker,
Primary function of the brand: that of differentiating one seller or one vendor or one organization from another - remains largely unchanged
The ultimate goal of branding is still to establish a powerful, relevant identity in the minds of customers in order to encourage their initial purchases
And nurture an ongoing relationship between the marketer and the end user.
While brands and branding have been with us, in one form or another, since the dawn of commercial enterprise, it is only within the past 20 years that organizations have shown so much interest and perceived value in their brands
They are attempting to apply branding principles to distinguish themselves from competitors.
Thus, brands and branding have taken on broad new meanings in the emerging interactive information age that we are entering.
Never before has so much emphasis been placed on the contributions of the brand in establishing and maintaining a competitive advantage.
For the most part, the modern marketplace is characterized by intense price competition between products with few distinguishing features, attributes, or distribution advantages
Many marketers have seemingly moved beyond tangible advantages to embrace the intangible but powerful advantages that can stem from brands and branding.
Thus, the brand becomes the latest focal point of competition, and the one area where an organization can achieve meaningful and sustainable differentiation among target customers and prospects.
A strong brand is far more than a recognizable name, a memorable mark or logo, or a catchy tag line.
In fact, a brand is also more than a distinguishable product with practical physical advantages for the purchaser.
While a brand is crafted in part from these basic building blocks, it is the customer who attaches meaning to these visible cues based on his or her own experience and perceptions.
Ultimately, it is the customer who determines the true value of the brand.
This value is derived from knowledge of the brand’s functional and emotional attributes, from associations made about the product, its category, and its parent organization.
From the interactions that customers have with the brand’s representatives, such as employees, franchisees, channel customers, and other brand owners and users.
Understanding customers’ perceptions and images of the brand
Assessing core and extended brand identities
Developing relevant brand value propositions
Creating a unique brand position and identity
Communicating the brand’s identity and promise
Aligning internal and external communication activities
Measuring Brand Results
Monitoring changes in customers’ brand awareness, perceptions, associations, loyalty, and satisfaction
Determining appropriate levels of brand support
Creating approaches for financial measurement of brand equity
Brands have been with us since the dawn of commercial history and are believed to be the engine driving the marketing train throughout this century.
Little formal attention has been paid to the question of how organizations build, maintain, and evaluate strong brands.
There appears to be a growing recognition that an organization’s brand or brands have a value that can far exceed that of the firm’s more tangible assets such as manufacturing plants, equipment, real estate, and investment holdings.
Central is the belief that a strong brand is far more than the components used to identify it to customers and prospects, such as logos, jingles, tag lines, icons, and other communication cues
In the past, the study of branding focused primarily on how organizations create and communicate these distinguishing identity elements effectively in the marketplace
Now, organizations have begun to consider the brand as the embodiment of the relationship among the organization, its employees, and its customers.
As such, the brand is being used to drive the organization in all aspects of its interaction with customers - including product development, pricing, customer service, distribution, and operations.
As organizations have sought to become more customer-focused, the brand has become the means by which many weld meaningful, sustainable relationships with their constituents
WHAT IS A BRAND ?
"Simply put, a brand is a promise. By identifying and authenticating a product or service it delivers a pledge of satisfaction and quality."
Be absolutely clear that a brand is very different from a product or service.
A brand is intangible and exists in the mind of the consumer
The ‘Loyalty ladder' ?
Different people have different perceptions of a product or service, which places them at different points on the loyalty ladder .
How to build a brand
A brand is built not only through effective communications or appealing logos. A brand is built through the total experience that it offers
CREATE Extraordinary brand experiences
What is Branding and Why is it Important?
A strong brand is invaluable as the battle for customers intensifies day by day.
It's important to spend time investing in researching, defining, and building your brand. After all your brand is the source of a promise to your consumer
Brand’s power is derived from the goodwill and name recognition it has earned over time, and which translates into higher sales volume and higher profit margins against competing brands.
Factors in building brand value?
Quality is a vital ingredient of a good brand.
The “core benefits” – the things consumers expect, must be delivered well, consistently.
The branded washing machine that leaks, or the training shoe that often falls apart when wet will never develop brand equity.
Research confirms that, statistically, higher quality brands achieve a higher market share and higher profitability than their inferior competitors.
Positioning is about the position a brand occupies in a market in the minds of consumers. Strong brands have a clear, often unique position in the target market.
Positioning can be achieved through several means, including brand name, image, service standards, product guarantees, packaging and the way in which it is delivered. In fact, successful positioning usually requires a combination of these things.
Repositioning occurs when a brand tries to change its market position to reflect a change in consumer’s tastes. Often required when a brand has become tired, its original market has matured or has gone into decline.
The repositioning of the Lucozade brand from a sweet drink for children to a leading sports drink is one example. Another would be the changing styles of entertainers with above-average longevity such as Kylie Minogue and Madonna.
Communication plays a key role in building a successful brand. Brand positioning is essentially about customer perceptions – with the objective to build a clearly defined position in the minds of the target audience.
All elements of the promotional mix need to be used to develop and sustain customer perceptions. Initially, the challenge is to build awareness, then to develop the brand personality and reinforce the perception.
Business strategists often talk about first-mover advantage. In terms of brand development, “first-mover” means it is possible for the first successful brand in a market to create a clear positioning in the minds of target customers before the competition enters the market.
Eg : leading consumer product brands like Gillette, Coca Cola and Sellotape.
They defined markets they operated in,continued to lead. However, being first into a market does not necessarily guarantee long-term success.
Competitors – drawn to the high growth and profit potential demonstrated by the “market-mover” enter markets & copy the best elements of leader brand (eg: Body Shop developed the “ethical” personal care market but were soon facing stiff competition from the major high street cosmetics retailers
Another important factor in brand-building: the need to invest in the brand over the long-term. Building customer awareness, communicating the brand’s message and creating customer loyalty takes time. This means that management must “invest” in a brand, perhaps at the expense of short-term profitability.
Ensure your brand is marketed “internally” as well as externally. Everyone should understand the brand values and positioning. Particularly important in service businesses where a critical part of the brand value is the type and quality of service that a customer receives.
Think of brands that you value in the restaurant, hotel and retail sectors. It is likely that your favorite brands invest heavily in staff training so that the face-to-face contact that you have with the brand helps secure your loyalty.
WHAT IS POSITIONING ?
Definition: The consumer perception of a product or service as compared to it's competition.
: "… positioning is not what you do to a product. Positioning is what you do to the mind of the prospect. That is, you position the product in the mind of the prospect." Al Ries and Jack Trout
Always nice to join the dots & make these connections … simplify the world a little.
Positioning is branding.
EFFECTIVE BRAND BUILDING STRATEGY
An effective brand strategy will create a unique identity
... Building a "value-added" brand in today's competitive global marketplace is vital to success.
Developing Your Brand Strategy
One of the most difficult steps in the marketing plan process. Often the element that causes most businesses the biggest challenge, but a vital step in creating the company identity.
Your brand identity will be repeatedly communicated, in multiple ways with frequency and consistency throughout the life of your business.
To begin the development of your brands strategy you must have an understanding of these four marketing components:
Primary Target Customer and/or Client
Product and Service Mix
Unique Selling Proposition
By identifying these components of the marketing plan, we will have created the basis for crafting the brand strategy.
An effective branding process will create a unique identity that differentiates you from the competition. That is why it's often deemed as the heart of a competitive strategy.
Throughout the 90s, a time of unprecedented economic woe in Japan, the consumption of high-end wines increased dramatically.
Let me explain. If you are on a plane, and the plane is about to crash, you don't drink **ss
The arrival of recession means it is time for brand managers to change
Brand Equity :Your Best Defence in a Recession.
Learn to talk about the power of strong brands in the face of declining customer spend.
Explore the topic of brand loyalty, not in terms of growing share of wallet, but retaining it in the face of lower-priced value alternatives.
Most importantly, remember that the brands that continue to build their equity in the recession will be best placed to enjoy the fruits of their labour when the economy inevitably returns to growth.
Not everyone automatically loses out in a recession. , luxury brands will survive remarkably well.
The same is true at the other end of the high street where value players who focus on discount sales will also prosper.
The real problem comes in the middle. If you are not in the top or bottom tier, the recession is likely to deal you a particularly difficult hand in 2009 -2010.
Times are tough right now and it’s a normal reaction for businesses to initiate cutbacks during these trying times.
“Heck, I’ve cut back on drinking less milk and juice and drink more water from the tap, sold my gas guzzling truck to buy a more fuel efficient car and started a garden to grow my own vegetables. “
Note that cutbacks are made on certain things like what people drink, what they drive and how they get food, but what they haven’t done is give up on them entirely.
They still drink juice and milk, they still drive a car that needs gas to go & they still eat vegetables.
In short, they’ve simply adapted their livelihood to overcome the burden of higher prices.
This same concept rings true for branding or marketing your business during tough economic times. It’s not healthy for to give up on drinking milk or eating vegetables and it’s not healthy for your business to give up on advertising your brand to your consumers or target audience.
The Brand’s Primary Characteristics
At the heart of your brand must be a certain “Smartness
The fact it is youthful, has its own seduction
Add to that the fact that its a experience booster, the seduction is enhanced
The brand must cue - smartness and convenience .
At the soul of Google lies its sheer convenience
The Common Factors
Marketing is increasingly about creating buzz
When brands and habits become the buzz, brands spread through consumers like a potent virus
A recent case of buzz marketing is Twitter
SMS, Internet and e-mail were other ones
Funcity stands a good chance by getting onto the buzz bus
The game is about boosting life, bettering lifestyle
Funcity must be made Fashionable
Lifestyles are changing. Leisure time’s compressed. The Wow factor is missing
Add to that the smartness/with it angle
The opportunity therefore is not just to reinvent the wheel but to launch Funcity with all the buzz
Get Funcity to be the default hangout
Relevant trends currently affecting the category
The opportunity is to create a lifestyle brand. Do more than just tactical.
From the users perspective , Funcity may well present an opportunity to redefine “pleasure entertainment”
Right now, there isn’t any.
But unlike other leisure products where criticality of the relationship is not a factor, we must tie in loyalty, stickiness & convenience into the brand
Funcity must be “ the thing” to do
People like being part of the buzz. They adopt more vociferously when they are the buzz or part of it
Funcity must become the buzz
Funcity Brand Wheel ATTRIBUTES Instant Fun, consistent fun, anytime fun BENEFITS Quality of fun, Empowerment , Feel good factor, Confidence booster VALUES Enrichment, Superior PERSONALITY Sophisticated, Leader BRAND ESSENCE ‘ Blend of smartness,convenience & quality of life’. THIS IS COOL . Attributes Benefits Values Personality Brand Essence
In everyday life there are two situations – Interesting ones & boring ones Cool is Interesting
Cool is different Cool is daring Cool is determined Cool is an awesome epidemic Cool is contagious Cool builds communities Cool sells
Cool is an attitude which exhibits great devotion & dedication. It is distinctive and has a defined and committed community.
Cool is Individualistic Its different things to different people
What's Cool? Boys “ Techno gizmos" (13) "Hanging out, roller blading, alternative music". (14) "You know what made me feel special? When I graduated I got an award and when they said my name, everybody cheered" (16)
What's Cool? Girls "Beating my 15-year old [boy] cousin in Jetskiing" (12) "Boys. Going out, TV, Nintendo, family, friends. Dressing cool, like me." (13) "Music, body piercing" (14) "Dying your hair purple, bell bottoms...the 60's were cool."(14) "Being yourself. Staying on a straight line, not getting pregnant at 14, using drugs, smoking cigarettes, thinking it's cool. It's NOT cool.If people would stop looking for approval, they'd be happy being themselves." (18)
Cool is an attitude : at its core it possesses values that cannot be eroded
No guts, no glory Cool requires courage.
Chasing Cool takes guts. Be willing to take risks. Gauge potential upside.
Cool brands sell lifestyles, not just a product or service.
There are primarily 2 types of Cool – those who are cool because they are famous or fashionable, and those who are cool because of how they act.
Cool Age Proof / Timeless Belief Value System Performance Dedication & devotion Emotion Innovative & Inventive Resilience Consistency/ Reliability Attributes of Cool Requires Investment & effort Guts
Manolo Blahnik Bata Kennedy Carter Harley Davidson Suzuki Ferrari Hyundai IPOD Mp3 Apple Acer Starbucks Maxwell House Cool / Cult Products Common Products
Be Bored Or Be Cool Gaming
Market visit – Topline findings
BRANDING IN ALL 3 CENTRES DIFFERENT
HAIR SALONS IN 2 , HEAVY TRAFFIC BUT NO AWARENESS
MERCATO EXIT LOOKS LIKE THE ENTRANCE
AMBIENT LIGHTING NOT UNIFORM, OASIS LOOKS LIKE A DISCO
IF MERCATO AND IBN BATUTA MEANT FOR YOUNGER KIDS , THEN BRANDING NEEDS TO BE SEPARATE
MAYBE SUB BRANDS FOR KIDS , AND YOUNG ADULTS : RELAUNCH
LOGO IN ALL 3 CENTRES NEEDS TO BE PROMINENT : NEON STRIPS ?
ENTRANCE TO ALL 3 MUST BE CROWD PULLERS: GAMES AT THE ENTRANCE , LIKE VEGAS ?
PLAYZONE MOST POPULAR : RIPE FOR ACTIVATION
FUN & LEARN : NEED TO EDUCATE PUBLIC , ESP IN LIGHT OF KIDZANIA COMING UP
HAIR SUT PLACE NEEDS DIFFERENT BRANDING , YOUNG , ZANY , HAPPENING . VFM PLATFORM .
HAIR SALONS CAN BE COME MINI SALONS WITH BRAIDING , SPRAY ON COLOUR ETC : ALREADY EXISTING SO LINE EXTEND
BALL GAMES ARE POPULAR , VIDEO GAMES ARE NOT . PHASE OUT ?
MASSAGE CHAIRS FOR PARENTS MUST BE TALKED ABOUT . DADS CAN BABYSIT WHILE MOM SHOPS ?
AT IBN BATUTA , TKT COUNTER LOOKS LIKE A CANDY COUNTER . CONFUSING .
Market visit – Topline findings
COFFEE SHOP EITHER REMOVE OR REBRAND AND TALK ABOUT FRESHNESS AND QUICK SNACKS
MAYBE TKT SALES COUNTER AT THE BACK ? WALK THROUGH PAST SEDUCTIVE GAMES THAT WILL BECKON , BEFORE GETTING TO BUY TKT. RETAIL PLAN THEORY .
EXPAT WOMEN ALREADY FREQUENT IBN BATUTA : LINE EXTEND TO OTHER CENTRES . 2 HOUR DEALS FOR MOMS AND KIDS ?
CHIPSTIX : ONLY SINGLE CENTRE . EXTEND ? OR ERASE .
SUMMER FUN FOR KIDS : HUGE POTENTIAL ESP WITH KIDZANIA NIPPING AT HEELS . BUT MUST BECOME BUZZ.