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Lecture 3   Brand Management
 

Lecture 3 Brand Management

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Brand Positioning

Brand Positioning

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    Lecture 3   Brand Management Lecture 3 Brand Management Presentation Transcript

    • Brand Management PT MBA I year Trimester – 3 Lecture - 3
    • Today’s Menu
      • Customer-based brand equity (CBBE) pyramid
      • Brand positioning (as a part of 1.Building Brands)
        • Target Market
        • Competitive scenario
        • Points of Parity and Differences
        • Updating Positioning
      • Brand Values
        • Core brand values
        • Brand mantras
    • Customer-Based Brand Equity
      • The differential effect of
      • brand knowledge on consumer response to the marketing of the brand
    • CBBE Pyramid Brand Salience Consumer- Brand Resonance Consumer Judgments Consumer Feelings Brand Performance Brand Imagery 4 Bond – Strong relationship 1 Broad Awareness 2 Differentiators 3 Emotional and Intellectual influence
    • Subdimensions of brand building blocks Salience Resonance Judgments Feelings Performance Imagery Loyalty Attachment Community Engagement Quality Credibility Consideration Superiority Warmth, Fun Excitement, Security, Social Approval, Self-Respect 4 Brand Relationships (WHAT About You AND ME?) 1 Brand Identity (WHO Are You?) 2 Brand Meaning (WHAT Are You?) 3 Brand Response (WHAT About You?) User Profiles Purchase and Usage Situations Personality & Values History, Heritage, & Experiences Brand Characteristics & Secondary Features Product Reliability, Durability & Serviceability Service Effectiveness, Efficiency, & Empathy Style and Design; Price Category Identification Needs Satisfied
    • Brand Positioning >> Basic Concepts
      • Death of “one-size-fits-all”
      • Mass production >> Mass customization
      • “act of designing the company’s offer and image so that it occupies a distinct and valued space in the target customer’s mind
      • Key steps:
        • Who is the target customer?
        • Who are the main competitors?
        • How is the brand similar to the competition?
        • How is the brand different from the competition?
    • Brand Positioning >> Target Market
      • Market – set of actual and potential buyers – motivation, ability and opportunity to buy your product
      • Market segmentation – Dividing into Homogenous consumer groups
      • Customization vs. Cost tradeoff – is “ Mera wala green” profitable
      • Segmentation base:
        • Descriptive – Customer Oriented (who is the customer?)
        • Behavioral – Product oriented (customer’s product usage)
    • Brand Positioning >> Target Market
      • Behavioral
        • User status
        • Usage rate
        • Usage occasion
        • Brand loyalty
        • Benefits sought
      • Demographic
        • Income
        • Age
        • Gender
        • Race
        • Family
      • Psychographic
      • Values, opinions, attitudes, activities, lifestyle
      • Geographic
        • International
        • Regional
      Consumer Segmentation bases
    • Brand Positioning >> Target Market
      • Nature of Good
        • Specification
        • Kind
        • Where used
        • Type of buy
      • Buying Condition
        • Purchase location
        • Who buys
        • Type of buy
      B2B Segmentation bases
      • Demographics
        • Financials
        • Number of employees
        • Size of production
        • Number of establishment
    • Criteria for segmentation
      • Identifiability: can the segment easily determined?
      • Size: I s it viable to target the size?
      • Accessibility: Can the product be made available easily to the segment?
      • Responsiveness: How will the segment respond to a targeted marketing initiative?
      • For the selected TG who are the other competitors?
      • What is their size and market share?
      • What is their positioning?
      • Is there a unique space that can be occupied by our brand?
      Brand Positioning >> Competitive Scenario
    • Brand Positioning >> Points of Difference
      • Strong, favourable and UNIQUE associations for a brand
      • Functional – Performance related
      • Abstract – Imagery related
      • Similar to the notion of USP
      • Sustainable Competitive Advantage (SCA)
      • Not necessarily unique – may be shared with other brands
      • Category points of parity – legitimate and credible feature
        • Makes your service at par with the category
        • Relevance in brand extensions within same category
      • Competitive POPs – To negate POD’s of competition
      • Balanced use of POP and POD
      • POP to assure customers that you qualify very well for the category
      • POD to top it up and announce supremacy for one aspect of category
      Brand Positioning >> Points of Parity
    • Brand Positioning >> Points of Parity & Diff.
      • Establish brand’s category membership
      • Choosing POP and POD
        • Desirability
          • Relevance
          • Distinctiveness
          • Believability
        • Deliverability
          • Feasibility
          • Communicability
          • Sustainability
    • Updating brand positioning
      • Laddering – Product functions >>> core values
      • Reacting – Response to competitive changes
      • Laddering – Product functions >>> core values
      • Reacting – Response to competitive changes
      Updating brand positioning Abstract values Motivations Benefits Attributes
      • Laddering – Product functions >>> core values
      • Reacting – Response to competitive changes
        • Do Nothing
        • Go on the defensive
        • Go on the offensive
      Updating brand positioning
    • Core Brand Values
      • Abstract associations (attributes and benefits)
      • 5-10 most important aspects of a brand
      • Directly related to POP and POD
      • Measurable through TOM recall
    • Brand Mantra
      • Expression of “Heart and soul” of brand
      • Short phrase that captures the spirit of positioning
      • Provides guidance to all the activities of the brand
      • Emotional modifier>> descriptive modifier>> Brand function
      • McD – “Food, folks and Fun
      • Nike – “Authentic Athletic Performance”
      • Disney – “Fun Family Entertainment”
      • Zee Cinema – “Movies Masti Magic”
      • Its should
        • Communicate the category and boundaries
        • Simplify.. To make brand memorable
        • Inspire – Should stand out with a higher meaning
    • Summary
      • CBBE pyramid – from awareness to Strong relationship
      • Positioning – creating a distinct identity