Brand Image Building

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Approach to building a brand

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Brand Image Building

  1. 1. Brand Image Building <ul><li>21 st Century Branding : Importance of Being Different </li></ul><ul><li>Consumer Driven Marketing Cycle </li></ul><ul><li>Customer Acceptance Cycle </li></ul><ul><li>Image Building Process : Brand Audit, Scorecard </li></ul><ul><li>Creating a Connection Traingle </li></ul><ul><li>Evaluating the Robustness of Positioning </li></ul>
  2. 2. Importance of Difference : Satisficing <ul><li>For 99% of all consumers, “satisficing” is the goal 99% of the time </li></ul><ul><ul><li>Satisficing - purchasing a product that is “good enough” even if it’s not the best buy anywhere in the market </li></ul></ul><ul><ul><li>Optimizing (finding the best buy in the market) requires too much time </li></ul></ul><ul><li>Did you satisfice or optimize your “spousal purchase”? </li></ul><ul><li>How does satisficing relate to brands? </li></ul><ul><ul><li>“ [Brands] serve as handy identification tags, enabling … consumers to save significant amounts of time and energy in making choices.” 4 </li></ul></ul>
  3. 3. Being Better : Not As Important <ul><li>Being different is often more important than being better </li></ul><ul><li>Operational effectiveness (being better) is usually not sufficient for long-term profitability and sustainable competitive advantage </li></ul><ul><ul><li>That which is superior today is inferior tomorrow, especially in technology industries </li></ul></ul><ul><li>A brand can outperform rivals only if it can establish a difference that it can preserve </li></ul>
  4. 4. Brand Image Building <ul><li>21 st Century Branding : Importance of Being Different </li></ul><ul><li>Consumer Driven Marketing Cycle </li></ul><ul><li>Customer Acceptance Cycle </li></ul><ul><li>Image Building Process : Brand Audit, Scorecard </li></ul><ul><li>Creating a Connection Traingle </li></ul><ul><li>Evaluating the Robustness of Positioning </li></ul>
  5. 5. Select Valuable Customers : Consumer Driven Marketing Cycle Strategies Tactics Actions Map the Marketspace Select Most Valuable Customers Choose a Winning Positioning Create the Tactical Plan Build Operational Capabilities Define Performance Measures Execute the Tactical Plan Assess Performance Succeed And Improve
  6. 6. Brand Image Building <ul><li>21 st Century Branding : Importance of Being Different </li></ul><ul><li>Consumer Driven Marketing Cycle </li></ul><ul><li>Customer Acceptance Cycle </li></ul><ul><li>Image Building Process : Brand Audit, Scorecard </li></ul><ul><li>Creating a Connection Traingle </li></ul><ul><li>Evaluating the Robustness of Positioning </li></ul>
  7. 7. From Awareness to Loyalty : Customer Acceptance Cycle Salience Resonance Judgements 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
  8. 8. Brand Image Building <ul><li>21 st Century Branding : Importance of Being Different </li></ul><ul><li>Consumer Driven Marketing Cycle </li></ul><ul><li>Customer Acceptance Cycle </li></ul><ul><li>Image Building Process : Brand Audit, Scorecard </li></ul><ul><li>Creating a Connection Traingle </li></ul><ul><li>Evaluating the Robustness of Positioning </li></ul>
  9. 9. Brand Audit <ul><li>A good brand audit gives a definite answer about six interrelated equities </li></ul><ul><ul><li>Product: Product performance supports the brand? </li></ul></ul><ul><ul><li>Image: Image is strong and engaging? </li></ul></ul><ul><ul><li>Customer:Strength of customer franchise? </li></ul></ul><ul><ul><li>Channel: Leverage in channel environment? </li></ul></ul><ul><ul><li>Visual : Clear,differentiating presence? </li></ul></ul><ul><ul><li>Goodwill: Endorsed by influencers in the communities in which it lives? </li></ul></ul>
  10. 10. Brand Audit : Equity Score Card Example <ul><li>Image Equity </li></ul><ul><li>Brand still to develop a strong and engaging image of its own </li></ul><ul><li>Borrows a lot from Tata mother brand & Tata Steel. SSL rub-off only in industrial segment. </li></ul><ul><li>Customer Equity </li></ul><ul><li>Strong franchise amongst medium/ large poultry& grape farmers where the brand offers long life, value for money. </li></ul><ul><li>Very limited appeal in barbed wires. </li></ul><ul><li>Product Equity </li></ul><ul><li>Presents a clear, consistent & differentiating presence. </li></ul><ul><li>Performs better across all segments </li></ul><ul><li>Visual Equity </li></ul><ul><li>Poor visual equity,in a market full of spurious products </li></ul><ul><li>Brand does not present a clear and differentiating presence </li></ul><ul><li>Channel Equity </li></ul><ul><li>High affinity and relevance to channel </li></ul><ul><li>Not well leveraged in channel with issues in location awareness, relationship management, channel conflict & brand display </li></ul><ul><li>Goodwill Equity </li></ul><ul><li>The brand has not made an attempt to seek endorsements from influencers or be involved in the communities in which it lives </li></ul><ul><li>Residual goodwill of Tata name </li></ul>
  11. 11. Brand Image Building <ul><li>21 st Century Branding : Importance of Being Different </li></ul><ul><li>Consumer Driven Marketing Cycle </li></ul><ul><li>Customer Acceptance Cycle </li></ul><ul><li>Image Building Process : Brand Audit, Scorecard </li></ul><ul><li>Creating a Connection Triangle </li></ul><ul><li>Evaluating the Robustness of Positioning </li></ul>
  12. 12. Connection Triangle Product Benefit What I like it Consumer UHT Why I value it Brand Why I trust it
  13. 13. Connection Triangle:Example Product Benefit Quality adhesive Consumer UHT Bonds of family/ friendship/love usually break Brand A bond that will not break
  14. 14. Brand Image Building <ul><li>21 st Century Branding : Importance of Being Different </li></ul><ul><li>Consumer Driven Marketing Cycle </li></ul><ul><li>Customer Acceptance Cycle </li></ul><ul><li>Image Building Process : Brand Audit, Scorecard </li></ul><ul><li>Creating a Connection Traingle </li></ul><ul><li>Evaluating the Robustness of Positioning </li></ul>
  15. 15. Positioning Checklist: Example Does Industrial segment value the positioning? <ul><li>Critical property delivery =higher value, justifies premium </li></ul><ul><li>Cuts across diversity of industrial guys </li></ul>Does positioning exclude competitive offerings? <ul><li>Perception that only Tata can deliver </li></ul><ul><li>No other brand owns the platform </li></ul>Is the positioning credible? <ul><li>History/experience of delivery </li></ul>Can we sustain the position for long? <ul><li>Needs strong relationship management </li></ul><ul><li>Needs of industrial segments unlikely to change </li></ul><ul><li>Needs a sound quality control </li></ul><ul><li>Technology an entry barrier for competition </li></ul>Does it fit organization’s objectives? <ul><li>Enhances profitability </li></ul><ul><li>Motivates channel </li></ul>

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