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    Br1 Br1 Presentation Transcript

    • The status dilemma Neha is a working woman, and she needs a lunch box to carry to office. She remembers her father leaving for work every morning clutching his colourless stainless steel lunch box. But Neha shudders to even visualize the look on her colleagues’ faces if she walks into office with such a lunch box. Neha has a number of options available in the market to choose from, but she needs bright trendy containers, which can keep the food fresh for longer periods of time.
    • Brand to the rescue  Neha found exactly what she was looking for when her friend Meena brought her lunch box to office one day. Meena told her about Tupperware—a global brand, recognized the world over. Tupperware products were excellently designed and had won prestigious awards like the Red Dot award in 2009 (an award for excellence in product design instituted by Design Zentrum Nordrhein Westfalen in Essen, Germany), and the company was also featured in ‘Forbes.com Platinum 400—America’s Best Big Companies List’ for the sixth time in a row in 2009. Tupperware had ‘a range of high quality, lightweight, rust- and break-proof, colourful, airtight, stylish containers, which kept food fresh for longer, thus avoiding waste’ (Superbrands 2009). They were leakproof as well, which meant that Neha could carry and store curry and gravy items.
    • What is a brand?   For the American Marketing Association (AMA), a brand is a “name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.” These different components of a brand that identify and differentiate it are brand elements. 1.3
    • What can we brand?         A service—for example, Life Insurance Corporation, State Bank of India A product—for example, Nokia mobile, Lux soap, Knorr soup A store—for example, Big Bazaar, Shoppers Stop A place/geographic location—for example, Taj Mahal, India (the Incredible India! campaign) A person—for example, Aamir Khan, Amitabh Bachchan An idea—for example, World Wildlife Fund An online organization—for example, Amazon, Make my Trip An organization—for example, UNICEF
    • BRAND WHAT IS A BRAND?  It is combination of features (what the product is), customer benefits (what needs & wants the product meets), & values ( what the customer associates with the product.)  A brand is created when marketing adds values to a product in the process differentiates it from other products with similar features & benefits. 5
    • Importance of Brands to Consumers  Identification of the source of the product  Assignment of responsibility to product maker  Risk reducer  Search cost reducer  Promise, bond, or pact with product maker  Symbolic device  Signal of quality 1.6
    • A brand is therefore more than a product, as it can have dimensions that differentiate it in some way from other products designed to satisfy the same need. 1.7
    • Difference between a Product and a Brand BRAND Symbols Brand personality Country of origin Scope Functional benefits Organizational associations PRODUCT Quality/value Brand customer relationship Attribute User imagery Product uses Emotional benefits Self-expressive benefits
    • An Example of Branding a Commodity  De Beers Group added the phrase “A Diamond Is Forever” 1.9
    • Rationale for Building a Brand Benefits of Building Strong Brands—Organizational Perspective  Identifier  Shorthand for information  Legal protection  Differential advantage  Unique associations  Price premiums  Enhancing customer loyalty  Higher market share  Inelastic response to price increase  As a barrier to entry of other brands  Can be bought and sold as an asset
    • Rationale for Building a Brand Benefits of Building Strong Brands— Customer Perspective  Source of identification  Heuristic or proxy for quality  Source of evaluation  A tool to simplify decision making  Risk reducer   Financial risk, performance risk, time risk, social risk, psychological risk Tool to express self image
    • BRAND VALUES A) INSTRUMENTAL VALUES - WHAT DOES THE BRAND DO ? (ex) Cleans teeth better, or lasts longer - More functional Benefit. B) DIRECT EXPRESSIVE VALUES - HOW DOES THE BRAND DO ? They reflect the character of the Brand frequently the user. (ex) Modern/ Traditional/ Feminine 12
    • C) CENTRAL VALUES - WHAT ELSE DOES IT DO ? They relate to the aspiration (Personal Drives) (ex) Confidence/ Security/ Freedom D) CORE VALUES 13
    • Strategic Brand Management Process Steps Key Concepts Mental maps Competitive frame of reference Points-of-parity and points-of-difference Core brand values Brand mantra Identify and establish brand positioning and values Plan and implement brand marketing programs Mixing and matching of brand elements Integrating brand marketing activities Leveraging of secondary associations Brand value chain Brand audits Brand tracking Brand equity management system Measure and interpret brand performance Grow and sustain brand equity 1.14 Brand-product matrix Brand portfolios and hierarchies Brand expansion strategies Brand reinforcement and revitalization
    • BUT, WHAT IS A GENUINE BRAND? “ The internalized sum of all impressions received by customers and consumers resulting in a distinctive position in their ‘Mind’s Eye’ based on perceived emotional and functional benefits”. Relative Brand Distinction Commodities ----------- No diff. except price. Brand name ----------- Well known but similar. Brand ----------- Distinctive. ---------- Perceived by the consumer as unique. Genuine brand 15
    • A) Yesterday way to build a Brand F.R.E.D. Model • Familiarity • Relevance • Esteem • Differentiation 16
    • TODAY’S WAY TO BUILD A BRAND D.R.E.A.M Model  Differentiation.  Relevance.  Esteem.  Awareness.  Mind’s eye. a) What is the distinctive benefit to be communicated to the Tgt audience? b) What are the best ways to build a specific brand’s image? c) How is the Mktg. Budget directed to optimize Brand Equity? 17
    • Concept of branding  For the consumers, a brand is a product. But for the maker or the seller, a brand is an identifier of its goods and services and a promise of consistently delivering the features/benefits that the consumers desire from the brand.
    • WHAT IS BRANDING?  It is a creation & infusion of Brand elements that serve to identify & differentiate a product from others.  So, the task of Branding is to define what the brand infuses into the the product/ service & how the brand transforms it. BRAND ELEMENT  It is a visual or verbal information that serves to identify & differentiate a product. What are they? • Brand name • Logo • Symbols • Characters • Packages • Slogans 19
    • Criteria for choosing Brand Elements 1) Memorability. 2) Meaningfulness. 3) Transferability. 4) Adaptability. 5) Protect ability. 20
    • THE LOGIC OF BRANDING A Brand aims to segment the market Brands are built up by Persistent Difference over the long run. A brand is a living memory A brand gives products their meaning direction A brand is a Genetic program A brand is a contract It Simplifies customer decision making. 21
    • BRAND MANAGEMENT PROCESS BRAND MANAGEMENT PROCESS Mkt. Analysis Brand Situation Analysis Tgtg. Future Positions Testing New Offers Planning & Evaluating Performance 22
    • BRAND NAME  THE BRAND NAME IS  The basic core indicator of the brand  The basis for awareness  The basis for communication effects  The basis for Sales measurement  More permanent then anything else 23
    • WHAT THE BRAND NAME CAN DO?  It helps create association in the mind that acts as Descriptor – what it is? And What it does? (ex) – Xerox  It provides entry barrier in its category once it gets established. (ex) Burnal/ Surf/ Dettol  Through time & use, it becomes a viable asset. (ex) Tata/ Godrej 24
    • TYPES OF NAMES  DESCRIPTIVE BRNAD NAME  SUGGESTIVE  FREE STANDING 25
    • CRITERIA FOR BRAND NAME SELECTION. A IT SHOULD BE EASY TO LEARN AND REMEMBER: i. When a name has something about it that is interesting. When a name elicits a mental picture/image When a name is meaningful. When a name has some emotion When a name is simple When a name is different or unusual enough to attract attention & perhaps to arouse curiosity ii. iii. iv. v. vi. B IT SHOULD SUGGEST THE PRODUCT CLASS C IT SHOULD SUPPORT A SYMBOL/SLOGAN D IT SHOULD SUGGEST DESIRED ASSOCIATIONS WITHOUT BEING BORING/TRIVIAL. E IT SHOULD NOT SUGGEST UNDESIRED ASSOCIATION. F IT SHOULD BE DISTINCTIVE - NOT TO CONFUSE WITH COMPETITORS NAMES. G IT SHOULD BE AVAILABLE AND PROTECTABLE LEGALLY. 26
    • SIMPLE QUANTITATIVE RESEARCH FOR BRAND NAME a) What Thoughts come to your mind on hearing this name? b) What does the name mean to you? c) How would you Pronounce this name? d) What do you Particularly like about the name? e) What do you particularly dislike about the name? f) Which products would the name suit? g) Which products would the name not suit? h) Which name do you like the most & Why? i) Which name do you dislike the most & Why? 27
    • SIMPLE QUALITATIVE RESEARCH  I like the brand name cook lite.   I prefer to cook light food.   Why? Why? Light food is good for health  Why?  No digestion problem. Can be active Low fat formation in body Better for old/ all family members Children can eat more of light food.     28
    • Putting It All Together  The entire set of brand elements makes up the brand identity, the contribution of all brand elements to awareness and image.  The cohesiveness of the brand identity depends on the extent to which the brand elements are consistent. 4.29
    • BRAND REASONS  Why should a consumer buy the Brand?  What can be the rational reasons?  What can be the emotional resons? 30
    • RATIONAL REASONS a) Feature Based:  Technology .  Design.  Ingredients. b) Attribute Based:  Colour.  Shape.  Look.  Size 31
    • C) Benefit based:  Price.  Product delivery.  Service.  Packaging.  Maintenance. 32
    • EMOTIONAL REASONS  What are the emotional reasons for buying the Brand?  There are nine universal emotions namely Happiness, anger, disgust, fear, sorrow, courage, compassion, wonder and serenity. (Ex) Pride/Self worth/Confidence/Image projection/ Achievement/ Envy. 33
    •  How can emotional reasons be uncovered? A comprehensive analysis of consumer behavior is the starting point. But a powerful tool is “Benefit Laddering”. 34
    • BENEFIT LADDERING  The set of “Why” questions could lead us in to many different directions. Famous Mother Proud Mother Cricket Captain IAS/ IIT/ Doctor Success in Sports Success in exams Strong Kid Mental growth of kids Physical Growth of kids Child can Grow All Ingredients Child needs 35 Health Beverage with 23 vital Ingredients.
    • Brand Strategies Existing Existing Brand Name Brand Expansion Brand Extension New Brand New Multi brands New Brands Name Product Category
    • Branding challenges Intelligent and educated customers  Growth of private labels  Brand proliferation  Increasing trade power  Media fragmentation and the rise of new media  Increasing cost of product introduction and support  Increasing job turnover 
    • Key issues in branding          Whether to brand or not How to build brand equity How to measure brand equity Understanding customers and how they purchase a brand How to position the brand Which marketing mix strategies to choose How to design branding strategies How to manage brands over time How to manage brands across geographical boundaries