Branding garima ahuja,isha singh,gobind raj,mantaj sidhu, 30 oct. 2013

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Branding garima ahuja,isha singh,gobind raj,mantaj sidhu, 30 oct. 2013

  1. 1.  Introduction  Brand Equity  Brand Elements  Brand Value Chain  Marketing Strategy  Positioning  Advertising  Challenges to branding
  2. 2.  Began in old times  Evolved steadily  Was adopted as a distinguisher  Was adopted as a quality mark  Was adopted by big bodies  Was adopted by even bigger firms  Today I’m the omnipotent in corporate world
  3. 3.  I’m not a product  I’m not a label  I’m not a symbol  Nor a logo  Nor a tag line  I’m what all these make up
  4. 4.  Emotion are not same as feelings  They may be good or bad  Emotions can be short or ever lasting  The latter, plus trust, build up a brand
  5. 5.  Quality assurance  Trust in the brand  Social aspects  ‘Feel good’ aspects
  6. 6.  Service branding  Retail branding  Trade branding Let’s watch a video now ;)
  7. 7.  Basically, Brand equity is a phrase used in the marketing industry which describes the value of having a well-known brand name, based on the idea that the owner of a well-known brand name can generate more money from products with that brand name than from products with a less well known name, as consumers believe that a product with a well-known name is better than products with less well known names.  It’s the added value endowed upon products and services  The positive differential effect that knowing brand name has on customer response to the product or service.
  8. 8. It stresses the importance of the brand in marketing strategies  Is defined in terms of marketing effects uniquely attributable to brand.  In time, a brand comes to embody a promise about the goods it identifies—a promise about quality, performance, or other dimensions of value, which can influence consumers' choices among competing products. When a brand's promise extends beyond a particular product, its owner may leverage it to enter new markets. For all these reasons, a brand can hold tremendous value, which is known as brand equity.
  9. 9. Firm Level: . Product Level: Consumer Level:
  10. 10.  Brand equity arises from the differences in customer response.,  Differences in response are a result of customer’s brand knowledge, all thoughts, feelings, images, experiences and beliefs associated with the brand  Brand equity is reflected in perceptions, preferences, and behaviour related to all aspects of the marketing of a brand.
  11. 11. Lifebuoy made a conscious shift in its segmentation and positioning from its previous focus on men to a warmer and more versatile benefit of health for the entire family.
  12. 12.  Brand asset valuator Model ( Developed by Advertising agency Young and Rubicam)  It defines 4 pillars of Brand Equity:  1 Energised differentiation-It’s the degree to which the brand is seen differently from others.  2 Relevance measures the appropriateness and breadth of a brand’s appeal.  3 Esteem measures perceptions of quality and loyalty.  4 Knowledge measures how aware and consumers are with the brand.
  13. 13. Brandz mode is a model developed by Millward Brown and WPP which is based on brand strength at the heart which lies the Brand Dynamics Pyramid. The Pyramid in next slide shows the number of consumers who have reached what level. Presence- Active familiarity based on past trail, saliency or knowledge of brand promise. Relevance- Relevance to consumer’s needs, in the right price range or in the consideration set . Performance- Belief that it delivers acceptable product performance and is on the consumer’s short list. Advantage- Belief that the brand has an emotional or rational advantage over other brands in the category. Bonding- Rational and emotional attachments to the brand to the exclusion of most other brands.
  14. 14. Customer Based Brand Equity Model(Brand Resonance Model)-  According to this model, enacting the four steps means establishing a pyramid of six. This model emphasizes on the duality od brands- the rational route of building brands is on the left side of the pyramid and emotional route on the right side.
  15. 15.  Creating significant brand equity requires reaching the top of the brand pyramid, which occurs only if the right building blocks are put into place:  1 Brand Salience is how often and how easily customers think of the brand under various purchase or consumption situations.  2 Brand Performer is how well the product or service meets customers; functional needs.  3 Brand imagery describes the extrinsic properties of the product or service,.  4 Brand judgements focus on consumers’ own personal opinions and evaluations.  5 Brand feelings are customers’ emotional responses and reactions with respect to the brand.  6 Brand resonance describes the relationship customers have with the brand and the extent to which they feel they’re “in sync” with it.
  16. 16.  Marketers build brand equity by creating the right brand knowledge structures with the right customers.  1 Identifying initial choices for the brand elements  2 The product and service and all accompanying marketing activities and supporting marketing programs  3 Other associations indirectly transferred to the brand by linking it some other entity
  17. 17. Examples:  Recently, Airtel changed its logo so that the “a” in the brand name represents “air” and the deeper red has a positive meaning, especially in Africa where the brand is developing strong footprints.  Virgin mobile , one of the later entrants in the mobile service space in India, uses edgy and humorous advertisements that depict pranks and mischievous acts by youngsters. They connect the young consumers and help the brand in creating an edgy attitude with a touch of irreverence.
  18. 18.  Microsoft chose the big name Bing for its new search engine because it felt it unambiguously conveyed search and the “aha” moment of finding what the a person is looking for.
  19. 19.  Brand elements ( brand identities) :are those devices,which can be trademarked,that identify and differentiate the brand. Example:
  20. 20.  Memorable : Easily recognized, Easily recalled. Example : LG , Taj  Meaningful : Descriptive and Persuasive. Example : Fair and lovely face cream  Likeable : Fun and interesting, Rich visual and verbal imagery ,Aesthetically pleasing. Example : Maharaja, Scorpio
  21. 21.  Transferable : Within and across product categories, Across geographic boundaries and cultures. Example: Amazon  Adaptability : Flexible and Updateable. Example : Nano  Protectable : Legally and competitively. Example : Dalda
  22. 22.  Brand NAME : captures central theme.  Naming guidelines  Brand Awareness: SHORT names,example Coca- Cola known as coke .  Meaning should be clear. Example: Vaner,Randal  Pronounciation – Faconnable clothing
  23. 23.  Brand ASSOCIATION : Communication, abstract,fanciness.  EXAMPLE: Apple’s powerbook Nissan’s Xterra SUV ESPN’s X Games
  24. 24. Logos indicate origin,ownership. Example of Strong Word mark : KIT-KAT
  25. 25.  Complex and elaborate  Familiar LOGOS  STUDY by Henderson and Cote
  26. 26.  : Are short phrases that communicate descriptive or persuasive information about brand.  EXAMPLE : State Farm Insurance’s “ Like a Good Neighbour, State Farm is There” What does this represent?
  27. 27.  Creates awareness and image.
  28. 28.  Excellent protectability , more useful for brand recognition.  BUDDY LEE SELLS LEE DUNGAREES:  LEE faced perception problem amongst youth.  The word DUNGAREES appealed to youth again through aggressive promotion.
  29. 29.  The BRAND VALUE CHAIN : Is a structured approach to assessing the sources and outcomes of brand equity and the way marketing activities create brand values.
  30. 30.  How is the BRAND valued by the financial community and how is it influencing customers- is BRAND VALUE CREATION.  MARKETING PROGRAM INVESTMENT: any marketing program that potentially can be attributed to BRAND VALUE DEVELOPMENT.  Can there be any Failure?
  31. 31.  Failure of MILLER Brewing in 1990s benefitted Anheuser-Busch,Heineken and Corona in capture in BEER category.  Its the Quality Aspects of the marketing pragram which creates the DIFFERENCE!
  32. 32.  Quality of the marketing program depends on the quality of that program investment. Four important factors:  CLARITY  RELEVANCE  DISTINCTIVENESS  CONSISTENCY
  33. 33.  It includes everything that exists in the minds of the customers with respect to a BRAND. Approaches to measure this :  Brand Awareness  Brand Association  Brand Attitudes  Brand Attachment  Brand Activity
  34. 34.  Contextual factors external to the costumer plays key role.  Three such factors :  Competitive superiority  Channel and other intermediary support  Customer size and profile
  35. 35.  Reaction to Price premiums and price elasticities.  Change in demand with change in price.  Market Share  Brand extension  Cost Structure  Profitable sales value
  36. 36.  Contextual factors external to the brand itself.  Financial analysts and investors consider these considerations :  Market dynamics  Growth potential  Risk profile  Brand contribution
  37. 37.  Numerous dot com brands such as PRICELINE , eTOYS.
  38. 38.  It involves information collected from consumers on a routine basis over time  It employs quantitative measures  It estimates how well a positioning has been achieved
  39. 39.  Brand awareness and usage  Brand judgements  Brand performance  Brand imagery  Brand feelings  Brand resonance
  40. 40.  Brand equity charter  Formulizing the Co. View of brand equity into a document – the brand equity charter – that provides relevant guidelines to marketing managers  Eg. Ad agency personnel
  41. 41.  Brand equity report  Assemble the results of the tracking survey for the brand into a brand equity report to be distributed to management on a regular basis.
  42. 42. A firm has three main choices  It can develop new brand elements for the new products  It can apply some of its existing brand elements  It can use combination of new and existing brand elements
  43. 43. o Branding Decisions  Assuming a firm decides to brand its products and services, it must choose which brand names to use o Brand Portfolios  It is the set of all brands and brand lines a particular firm offers for sale in a particular category or market segment
  44. 44. o Brand Extension  Two main advantages of brand extensions are that they can facilitate new product acceptance and provide positive feedback to parent brand and company.
  45. 45.  Positioning is the act of designing the company’s offers and image so that it occupies a distinct and valuate place in the minds of the target customer.  Approaches to Positioning: 1. Focussing on the consumers 2. Focussing on the competitors
  46. 46.  The Product  The Company  The Competition  The Consumer
  47. 47.  Better Offering  Newer Offering  Faster Offering  Cheaper Offering
  48. 48.  Positioning is owing a piece of customer’s mind.  Positioning is not what you do to the product but what you do to the mind of the prospect.  As said by Ries & Trout (THE MARKETING GURUS)  It’s incorrect to call it Product Positioning.
  49. 49.  The easy way to get into the person’s mind is to be the first one to introduce a particular product.  Eg Kodak, Surf, Colgate  The basic approach is not create something new but to manipulate what is already in mind differently.  To find a unique position, we must ignore the conventional logic.  You wont find an uncola idea inside 7-up; you find it inside the cola drinker’s head.
  50. 50.  “It is difficult to change the behaviour but easy to work with it.”
  51. 51.  Understand the role of words and how do they affect people.  Be careful of change.  Need Vision- It should be long term and not on technology or fad.  Courage-To slug it out when others wait and watch.  Objectivity- You need a backboard.
  52. 52.  Simplicity- Not to be complicated or convoluted.  Subtlety- Unique position and appeal that’s not narrow.  Willingness to sacrifice  Patience  Global outlook
  53. 53.  Start by looking not on the product but at the position in the market that you wish to occupy, in relation to competition.  Think about how the brand will answer the main consumer questions. 1. What will it do for me which others would not do? 2. Why should I believe you?  Try to keep it short and make every word count and be as specific as possible as vagueness opens the way to confused executions.  Keep the positioning upto date.  Look for a Key Insight. Insight expresses all that we know from seeing inside the customer.
  54. 54. My soap leaves the skin feeling dry and tight. Fragrance of my current talc does not last long and I miss the opportunity of enjoying life.
  55. 55.  Be crystal clear.  Be customer based. 1. Be relevant and credible to the customer 2. Write in consumer language and from consumer’s point of view. Be competitive. 1. Be distinctive 2. Focus on building brand elements 3. Be persuasive 4. Be sustainable
  56. 56.  A brand bull’s eye provides content and context to improve everyone’s understanding of the positioning of a brand in the organization. Here we describe the components of a brand bull’s eye, illustrating with a hypothetical Starbucks example.
  57. 57. Points-of- Parity Brand Mantra Points-of- Difference Substantiators Values/Personality/Character Consumer Target Discerning coffee drinker Consumer Insight Coffee drinking experience is often unsatisfying Consumer Need State Desire for better coffee and a better consumption experience Competitive Product Set Local Cafes, fast- food restaurants,& convenience shops Consumer Takeaway Starbucks gives me the richest possible sensory experience drinking coffee
  58. 58.  In the inner two circles is the heart of the bull’s eye- key points of parity and points of difference as well as the Brand Mantra.  Points of parity: 1. Responsible 2. Locally involved 3. Fairly priced
  59. 59.  Points of difference: 1. Relaxing, rewarding moments 2. Rich sensory consumption experience 3. Convenient friendly service 4. Fresh and high quality coffee 5. Varied, exotic coffee drinks
  60. 60.  Brand Mantra:  Rich rewarding coffee experience.  In the next outer circle are the substantiators or the reasons to believe(attributes or benefits that provide factual or demonstrable support): 1. 24-hour training of baristas 2. Totally integrated system 3. Stock options/health benefits for baristas 4. Triple filtrated water.
  61. 61.  Finally, the outer most circle contains two useful branding concepts: 1. Brand value/personality/character 2. Executional properties and visual 3. identity.
  62. 62.  A video summarizing Positioning
  63. 63.  Television- Most powerful medium.  it has two important strengths 1. Demonstrating product attributes and explaining consumer benefits. 2. For dramatically portraying non product related user and usage imagery, brand personality and so on.
  64. 64.  General Principles concerning advertising and promotion effectiveness.  T.V advertising weight alone is not enough  T.V advertising is more likely to work when there are changes in copy or media strategy.  When successful advertising-impact lasts the period of peak spending.
  65. 65.  Re-launch of sprite
  66. 66.  RADIO- Advantages- local coverage, low cost, high frequency, flexible.  MAGAZINES- quality reproduction, high information content, longevity.  DIRECT RESPONSE- high selectivity, high information content, opportunities for repeat exposure.
  67. 67.  PREREQUISITE OF FAME AND FORTUNE IS ACKNOWLEDGEMENT  Levels – brand unaware Aided awareness Unaided awareness Top-of-the mind awareness Dominant brand awareness
  68. 68.  Select an apt brand name  Adopt eye-catching brand symbols  Develop memorable ads  Use promotions  Leverage the brand extension
  69. 69.  Repeated purchase made by the consumer out of commitment to the brand  Levels - non-committed customer Habituated customer Satisfied customer Delighted customer Devoted customer
  70. 70.  Keep the brand relevant for its loyal customers  Allow customer participation  Create a truly differentiated brand  Provide ‘real’ value to the customer  Make it a verb
  71. 71.  Building brands across national boundaries  Global branding & local branding  Utilization of global opportunities  Build up a prestigious brand  Make brand extension easier
  72. 72. 1. Fragmentation of mass media 2. Proliferation of brands 3. Rise of consumerism 4. Rise in private retailers 5. Volatile markets and cutomers
  73. 73.  Tag-line
  74. 74. Books- 1. brand management – shweta johri 2. strategic brand management - richard elliot, larry percy 3. marketing management – philip kotler 4.building, measuring and managing brand equity – kevin lane keller Internet- 1. www.google.com 2. www.wikipedia.com 3. www.youtube.com

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