Branding for entrepreneurs november 19 2016

1. Branding
A Guide for Entrepreneurs
Presented by:
Christopher McCarthy
Nancy Jaffe
November, 2016

2. What we will cover today
The challenges of being an entrepreneur
Overview of branding
Tools for entrepreneurs
Workshop discussion

4. What are your plans?

5. Overview of Branding

6. History of branding – at first, a world without brands

7. Most products are branded in American stores

13. What is a brand?
13
“The intangible sum of a
product's attributes: its name,
packaging, and price, its history,
its reputation, and the way it's
advertised.”
– David Ogilvy, advertising
pioneer and founder of Ogilvy
Group

14. What is a brand?
What consumers think of when they
hear your brand name
What they know about your brand (it
comes in a blue box)
How they feel about the brand (it is
romantic and expensive)
How quickly they can identify the
brand (it is Tiffany)

15. What is a brand?
A Brand is NOT:
The brand’s logo
The brand’s tagline
The advertising campaign
A product
These are elements of the brand but
the brand itself is bigger and broader
than those

16. Brands build fans – people love brands
What are your favorite brands?

17. Strong brands stand for something
Nike : Inspiration for Every Athlete
Kit Kat: Championing the Break

18. The World’s Most Powerful Brands Today

19. What is the value of a brand?
When consumers have positive brand perceptions:
• They seek out your brand
• They will pay more for your brand
For example, people will pay more for an Apple product

20. What a brand needs to be successful
• Meaningful Brand Promise
• Positive Brand Perceptions
• Great Brand Experiences
• Engaging Brand Communication

21. Honda Case Study:
Building a successful Brand
Honda Brand Promise:
Create and produce products
of the highest quality at a
reasonable price for worldwide
customer satisfaction
Their philosophy is to bring
joy to the world through the
realization of dreams

22. Honda: A brand people trust
Brand Perceptions:
Honda has succeeded in creating a positive brand
perception.
Most people agree that Honda provides high quality
products at a good price.
Honda is not considered a super-luxury brand. It is seen as a
good brand that is within reach of many people.

23. Honda cares about the
Total Customer Experience
Brand Elements:
Honda has created this brand by
attention to every aspect of their
business. They have a philosophy
they call the three joys, the joy of
producing, the joy of selling, and
the joy of buying.

24. The message: The Power of Dreams
Brand Communication:
Honda’s big idea for their advertising is “The Power of Dreams”

25. What can we learn from Honda?
• We must consider all aspects of the brand experience
• The right messages to inspire our customer
• The right media to reach that target
• The brand experience at every touch point:
• Learning about the product
• Seeing the product in use by other consumers
• Buying the product at a store
• Using the product
Every touch point works together to build the brand

26. Bringing the power of a brand to life!
For a brand to be successful, all elements must be in place:
•The product must be the right quality with the right features
•Branding strategy to create the right messages
•Communication strategy to educate the market
•Sales strategy so that consumers can find the product and buy it
•The right product with the right message for the right consumer
audience

27. How to Build a Brand Strategy

28. 28
First: understand the consumer
Who uses this product? Why?
What are the functions this product fills?
What are the emotions that consumers have around
Consumers are actively seeking things to make their life
better
How can this product help?

29. 29
Understand the product
Become the product expert
Understand the features and benefits
Know the competitive environment of your product
Understand the evolution of the product
Understand past marketing initiatives
Become a category expert
Identify the obvious competitive set (Yamaha vs Honda)
Extend the competitive frame
What about cars?
What about other types of transportation?

30. 30
“Be” a consumer
Stay current
Online sources – what are people saying?
Understand the economy
Business news
Experience the brand
Use the brand yourself
Do the research
Rely on yourself

31. 31
Think like a researcher
How do you go deeper – make it real?
Become the consumer – walk a mile in their
shoes
Talk to your family, your friends
Surf the Web
Go out and observe people using the
product

32. 32
Deconstruct your product
Look at the product fresh
Every feature
Every benefit
What’s new?
What’s old that could be reconsidered?
Do the new features bring new benefits?
Do you competitors have different features?

33. 33
“It does…”
Features and
Functions
“So I can…”
Benefits to target
“That makes me
feel…”
Emotional and
psychological
takeaway
Build a “blueprint”
Develop a positioning blueprint

34. 34
A brand positioning ladder
What does this product mean to me?
How does it make me feel?
Benefit
Attributes
What are the product features? And how are they “bundled”?
Value
Positioning The overall differentiating product proposition

35. Research is part of every step of the process
Business
Strategy
Market
Review
•Business goals
•Marketing
goals
•Sales channel
activities
•Competitive
intelligence
•Category
dynamics
TargetBrand
Research
Market Insights
•Media usage
and preferences
•Consideration
paths with
influencers
•Purchase
behaviors
•Segmentation
•Features and
benefits
•Attitude and
usage studies
•Trend-
spotting
•Primary client
research
Communications Platform
Brand Value
Proposition
Creative Expression
Development
•Creative strategy
•Product/brand identity
•Offer structures
•Develop and test
creative concepts --
quantitative
•Communication testing
and refinement
•Features
•Benefits
•Target
•Positioning
•Messaging
35

36. Brand Communication
Strategy
Telling the world about your brand

37. The old model

38. The new model

39. Why Use Market Research?
“Marketing without data is like
driving with your eyes
closed.”
Dan Zarrella, social media scientist and
author

40. Practical Approach to Market Research
Market research improves your chance of success by
helping you understand
Who is going to use your product or service or web app
How will they use it
What will drive them to get it
What will they pay for it
How can you get answers without spending a lot of money?
40

41. Research can be qualitative or quantitative
41
 Quantitative research includes a large sample and collects
numbers – you learn a little about many people
 Qualitative can be a small sample and based on discussion –
you learn a lot about a few people

42. Research should be part of the process of
developing your product and strategy
42
Stages of new product development:
Fuzzy Front End – idea generation
Concept Development
Business Analysis
Market Strategy and Testing
Implementation/Roll-out

43. The Beginning: Develop the Idea
43
Getting started
What is the opportunity?
What can I offer?
Fuzzy Front End
Fuzziness, ambiguity, uncertainty
Can’t be quantified
Define:
Customer needs
Details of concept
Business plan
Research needs:
Online research
Exploratory qualitative research

44. Research Need: Exploration
44
Objective: Understanding
Who are the people/audiences in this
market
How do they behave
Why? What drives that behavior?
What are the alternatives to your
idea?
Who else is talking to them and what
are they saying?

45. Start lots of conversations
45
Talk about your ideas
It’s early stage – have lots of
conversations
Explore who your target could be
Find out how people are currently
solving their problems
Look for gaps
Look for relevant online communities
Start a blog – get reactions, not just to
your product, but to your area, your
niche
Develop a voice
Find out what people respond to

46. Online research is the starting point
46
Search for information online
 Reports, discussions, reviews
 Social listening
 Websites of your competitors
Then get out!
 Shop for products in your category
 Visit your competitors’ locations
 Use “secret shoppers” to understand the experience

47. What digital data do you have?
What digital data can you get?
Internal (your own) data
Website logs
Facebook
Twitter
External data to inform your planning
Social listening
Hashtag and keyword search
Google and Facebook tools

48. Check out these free tools
Social listening / data:
Social Bakers
Social Mention
Twazzup
TwitterAudit
SimilarWeb
Hashtags, Headlines, and
Keywords:
RiteTag
Hashtag.org
Coschedule Headline Analyzer
Ad buying:
Facebook Audience Insights
Google AdWords / Keyword
Planner
Hootsuite

49. Define your target
Persona Development
For example, the person most likely to buy my product or use my
app is:
Female
Age 18-34
Spends lots of time online
Interested in fashion
Lives in Phnom Penh

50. Testing Concepts with Research
50
Identify key issues and avoid expensive mistakes
Find out which idea has the most potential
Determine key factors that matter to customers – know
what to focus on
Find out what customers will be willing to pay
Refine product designs and plans
Assess product design, packaging, names

51. Research Questions: Coffee Shop Example
Market research improves your marketing success
by helping you understand:
 Who are your potential customers – will they look
like your current customers? Or do you need to find
a new target?
 What food and beverages should you offer?
 How will you create awareness of your coffee shop –
what media can you use to reach your target
customer?
 What can you offer that will convince them to try
you? Encourage them to return?
 What is the competition doing and who is
successful?
51

52. Define what you need to know to be successful
52
Learn everything you can about your
 Category – is out of home food consumption growing?
 Competitors – who else is in the market?
 Target Consumers – who will come to your coffee shop?
 Their Attitudes – what kind of experience are they seeking?
How can you get the information you
need?

53. There are many Free Reports if you look

54. Free Reports about Cambodia

55. You Can Buy Industry Overviews
Syndicated Reports are available for many industries – less
expensive than doing your own custom research
 Cambodia and Laos Autos Report Q1 2016: published by: BMI
Research
 The Insurance Industry in Cambodia, Key Trends and Opportunities to
2019: published by: Timetric
 The Future of Cambodia Telecommunications Market to 2025 - Analysis
and Outlook of Cambodia Mobile, Fixed Line and Broadband Sectors:
OG Analysis
 Emerging Opportunities in the Credit Card Market in Cambodia: Market
Size, Industry Drivers and Consumer Trends: Timetric

56. Understand the Mind of Your Consumer
 Syndicated reports are a good way to gain insights into your
target audience
 You can buy a report and also buy custom analyses

57. Do you have enough information?
57
Marketplace
 Environment
 Trends
 Competitors
Consumer
 Demographics
 Attitudes
 Beliefs
 Unmet needs
 Behavior
 Segments
Product
 Awareness
 Perceptions
 Attitudes
towards
 Reactions to
 Review what you know and what you need to know to make
business decisions
 Identify knowledge gaps and fill them with custom research

58. How does research get done?
 Most research is designed, fielded, and
analyzed by research vendors
 They have expertise, experience, and
tools
 Big companies often rely on research
vendors who have lots of experience in a
particular type of research, such as A&U
tracking or product testing
 They can offer norms that show how
your results stack up to others
58

59. In Cambodia we need to reach people in-
person
59
 In Cambodia, in-person research is
preferred for both qualitative and
quantitative research because it is
difficult to reach people online or by
telephone
 Online Cambodians tend to use
Facebook and other apps, and are not
reachable to ask questions
 There are no good lists of phone
numbers
 The exception is if you have a list of
customers and their contact
information

60. Do It Yourself vs. Hire a Researcher
60
 Be honest with yourself – you
are not objective
 Be aware of your biases
 If you want more objective
feedback, use a researcher
 Hire a researcher to design
and analyze your quantitative
research
 If possible, do the real thing for
qualitative research – use a
one-way mirror facility or camera
so you can watch and find out
what your target really thinks
 But if you don’t have the
budget, do it yourself!

61. Workshop Discussion

62. Contact:
Christopher McCarthy
+855 12 317 174
chris@mangotango.asia