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Branding Strategy: A customer centric approach by Pranesh Misra

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Session 1 at TIKS on 'Scaling Up': Module II - Branding & Marketing

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Transcript of "Branding Strategy: A customer centric approach by Pranesh Misra"

  1. 1. DEVELOPING BRAND STRATEGY: A CONSUMER CENTRIC APPROACH TIE INSTITUTE KNOWLEDGE SERIES ON BRANDING & MARKETING MUMBAI, 27 NOVEMBER 2010 1/30/2015 1
  2. 2. WHAT IS A BRAND? 1/30/2015 2
  3. 3. Brands as signatures have existed for a long time…. 1/30/2015 3
  4. 4. Brands as signatures have existed for a long time…. 1/30/2015 4
  5. 5. Brands as signatures have existed for a long time…. 1/30/2015 5
  6. 6. Brands as signatures have existed for a long time…. 1/30/2015 6
  7. 7. Brands as signatures have existed for a long time…. 1/30/2015 7
  8. 8. Brands as signatures have evolved over time…. 1/30/2015 8
  9. 9. Brands as signatures have evolved over time…. 1/30/2015 9
  10. 10. Brands as signatures have evolved over time…. 1/30/2015 10
  11. 11. What is a Brand? 1/30/2015 11 “A term, sign, symbol or design, or a combination of these, intended to identify the goods or services of one seller and to differentiate it from those of competitors.” American Marketing Association
  12. 12. WHY BRANDING? 1/30/2015 12
  13. 13. How Branding Helps the Owner? 1/30/2015 13 • Functional: – Trade Mark - Protection – Copyright and design protection – Simplify product tracing • Symbolic: – Emotions – Personality – Belief system – Relationship with the consumers
  14. 14. Branding: How does the consumer benefit? • Functional: – Identifying the owner to assign responsibility – Defining expectations • Emotional: – Reassurance – feeling of security – Tribal – sense of belonging 1/30/2015 14
  15. 15. Two Views of A Brand 1/30/2015 15 BuyerSeller
  16. 16. FIRST PRINCIPLE… What companies sell & What consumers buy Are not the same things… 1/30/2015 16
  17. 17. Exercise: Write down what you are selling 1/30/2015 17 Seller? Write down on a piece of paper…
  18. 18. Charlie Perfume What they are Selling? Perfume What Consumers are buying? Smelling & Feeling Attractive 1/30/2015 18
  19. 19. Pepsodent What they are Selling? Toothpaste What Consumers are buying? Reassurance Of Oral Protection from Germs 1/30/2015 19
  20. 20. Cleartrip.Com What they are Selling? Online Travel Booking What Consumers are buying? Reassurance of most competitive price 1/30/2015 20
  21. 21. Tata Nano What they are Selling? The Cheapest Car What Consumers are buying? Improved life status 1/30/2015 21
  22. 22. Exercise: Now ask yourself what the consumer is buying? 1/30/2015 22 Buyer? Write down on a piece of paper… Then, compare with your first answer…
  23. 23. Four Questions of Brand Building Who Am I? • Brand Name • Heritage • Category What can I do for you? • Product Benefits • Reasons to believe How would I make you feel? • Emotional Benefits • Reasons to believe What role do I play in your life? • The larger purpose • How do I improve life? 23
  24. 24. Pepsodent Toothpaste Who Am I? • Brand Name • Heritage • Category What can I do for you? • Product Benefits • Reasons to believe How would I make you feel? • Emotional Benefits • Reasons to believe What role do I play in your life? • The larger purpose • How do I improve life? 24 Who Am I? • Pepsodent • Challenger to Colgate • Oral health What can I do for you? • Fight against oral germs longer • Clinically proven How would I make you feel? • Confident that my family is well protected. • Even when they indulge What role do I play in your life? • Make me a better mom! • By allowing occasional indulgences
  25. 25. Pepsodent Toothpaste Who Am I? • Brand Name • Heritage • Category What can I do for you? • Product Benefits • Reasons to believe How would I make you feel? • Emotional Benefits • Reasons to believe What role do I play in your life? • The larger purpose • How do I improve life? 25 Who Am I? • Pepsodent • Challenger to Colgate • Oral health What can I do for you? • Fight against oral germs longer • Clinically proven How would I make you feel? • Confident that my family is well protected. • Even when they indulge What role do I play in your life? • Make me a better mom! • By allowing occasional indulgences
  26. 26. Pepsodent Toothpaste Who Am I? • Brand Name • Heritage • Category What can I do for you? • Product Benefits • Reasons to believe How would I make you feel? • Emotional Benefits • Reasons to believe What role do I play in your life? • The larger purpose • How do I improve life? 26 Who Am I? • Pepsodent • Challenger to Colgate • Oral health What can I do for you? • Fight against oral germs longer • Clinically proven How would I make you feel? • Confident that my family is well protected. • Even when they indulge What role do I play in your life? • Make me a better mom! • By allowing occasional indulgences
  27. 27. Pepsodent Toothpaste Who Am I? • Brand Name • Heritage • Category What can I do for you? • Product Benefits • Reasons to believe How would I make you feel? • Emotional Benefits • Reasons to believe What role do I play in your life? • The larger purpose • How do I improve life? 27 Who Am I? • Pepsodent • Challenger to Colgate • Oral health What can I do for you? • Fight against oral germs longer • Clinically proven How would I make you feel? • Confident that my family is well protected. • Even when they indulge What role do I play in your life? • Make me a better mom! • By allowing occasional indulgences
  28. 28. Branding is about delivering INTANGIBLE benefits 1/30/2015 29
  29. 29. Branding is about delivering INTANGIBLE benefits 1/30/2015 30
  30. 30. Branding is about delivering INTANGIBLE benefits 1/30/2015 31
  31. 31. Branding is about delivering INTANGIBLE benefits 1/30/2015 32
  32. 32. Branding is about delivering INTANGIBLE benefits 1/30/2015 33
  33. 33. Branding is about delivering INTANGIBLE benefits 1/30/2015 34
  34. 34. HOW TO BUILD BRANDS? 1/30/2015 35
  35. 35. Brand Building Journey • Deep understanding of the Competition • Define the Target Consumers • Understand Consumer’s Mindset • Zero in on the Key Consumer Insight • Define Brand’s Personality & Core Values • Define Brand’s Benefits (functional & emotional) • Define the source of authority • Identify the key differentiator • Identify the Brand DNA 1/30/2015 36
  36. 36. Hygiene Factors CATEGORY GENERICS Key Insight THE MOST IMPORTANT CONSUMER TRUTH THAT WOULD DRIVE OUR BRAND Brand Benefits: Functional: WHAT THE BRAND DOES PHYSICALLY Emotional: HOW THE BRAND MAKES YOU FEEL Proofs: REASONS TO BELIEVE THE BRAND BENEFITS Differentiator: KEY POINT OF DIFFERENCE FROM COMPETITORS – THE REASON WHY CONSUMERS WOULD CHOOSE THE BRAND Brand Identifier HOW THE BRAND IS NOTICED BY THE SIX SENSES? Brand Personality HOW THE BRAND WOULD BEHAVE? Brand Essence DISTILLATION OF THE CORE DNA Competitive Environment WHO LOSES IF WE WIN? Target Consumer •DEMOGRAPHICS •LIFESTYLE •MINDSETS Brand Values WHAT WOULD THE BRAND DIE FOR? BRANDMAP : Tool to define Brand Positioning
  37. 37. Hygiene Factors CATEGORY GENERICS Key Insight THE MOST IMPORTANT CONSUMER TRUTH THAT WOULD DRIVE OUR BRAND Brand Benefits: Functional: WHAT THE BRAND DOES PHYSICALLY Emotional: HOW THE BRAND MAKES YOU FEEL Proofs: REASONS TO BELIEVE THE BRAND BENEFITS Differentiator: KEY POINT OF DIFFERENCE FROM COMPETITORS – THE REASON WHY CONSUMERS WOULD CHOOSE THE BRAND Brand Identifier HOW THE BRAND IS NOTICED BY THE SIX SENSES? Brand Personality HOW THE BRAND WOULD BEHAVE? Brand Essence DISTILLATION OF THE CORE DNA Competitive Environment WHO LOSES IF WE WIN? Target Consumer •DEMOGRAPHICS •LIFESTYLE •MINDSETS Brand Values WHAT WOULD THE BRAND DIE FOR? BRANDMAP EXERCISE:
  38. 38. THANK YOU PRANESH.MISRA@BRANDSCAPESWORLDWIDE.COM 39
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