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20140412 brand management chapter 6 iba mba48 e
This document discusses the importance of positioning a brand through defining its vision, mission, and values. It explains how to develop a brand positioning statement by identifying the target audience, category, compelling benefit, and reason to believe. Different types of positioning like functional and symbolic positioning are described. Examples of brand positioning statements are provided for various product categories like cleaning agents and toothpaste. The document emphasizes that the brand positioning statement should be memorable and portray a clear picture of what the brand stands for to its target consumers. It also discusses evaluating the effectiveness of a positioning statement.
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20140412 brand management chapter 6 iba mba48 e
- 1. Brand Management Session 6:Step 4 of Brand Building: Positioning Zeeshan Kingshuk Huq Guest Faculty zeeshan.huq@gmail.com
- 2. 2 4/20/14/ZKH VISION, MISSION ANDVALUES Before you 'Position' your BRAND, define what your COMPANY should be
- 3. 3 4/20/14/ZKH Vision § Where doyou want to go ... ! Define your long-term aspirations ! Usually very all-encompassing § Challenge is to differentiate ! Explain why you’re doing what you’re doing ! And the ultimate good you want to achieve through your success
- 4. 4 4/20/14/ZKH Mission § How doyou want to go there (to the Vision) ! Steps / actions that will take you to your vision ! Usually specific, functional § Challenge is to focus ! Not everything that you want should be here - shorten them ! Can you make them SMART when breaking down?
- 5. 5 4/20/14/ZKH Values § Tool: whatyour company brand ‘means’ and what it ‘is’ § Your brand means ! … ! … ! … § Your brand is ! … ! … ! … § Now, do it for your competition (at least 2 closest ones) § Tips: ! We respond to the best brands because they capture some aspect of our humanity and reflect back to us
- 6. 6 4/20/14/ZKH 'POSITIONING' YOUR BRAND Whatyour brand stands for
- 7. 7 4/20/14/ZKH Brand Position Statement § Brand Name § Brand Consumer Benefit § Brand Personality § Product / Range / Description § Major Competitors § Target Consumers § Reasons to Believe the Benefit § Packaging § Advertising Property
- 8. 8 4/20/14/ZKH The crux is… What is the single, most compelling PURPOSE for your Brand?
- 9. 9 4/20/14/ZKH A Car isa Car … or is it? Car Brands § Mercedes § BMW § Volvo § Toyota What comes to your mind? § Prestige / Status § Power § Safety § Value for money
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- 15. 15 4/20/14/ZKH The Cornerstone § Thebrand positioning statement is the single most important item in all of marketing. § It defines EVERYTHING about what your brand is to the consumer. § This is the most important thing I’ll teach you ! It’ll also help you in any function of your job ! This’ll help you bring ruthless focus in your life
- 16. 16 4/20/14/ZKH All Elements § Packaging,Pricing, Distribution, Manufacturing, Sales, Marketing…. § All work in unison to the beat of the brand positioning statement.
- 17. 17 4/20/14/ZKH Four Elements § TargetAudience § Category § Compelling benefit § Reason to Believe (Kitchen Logic)
- 18. 18 4/20/14/ZKH Outline of aBrand Positioning Statement § <brand name> is a <product description> that helps <target customers> to fulfill their need of <need> because it has <reason to believe>
- 19. 19 4/20/14/ZKH Evaluate your BrandPositioning Statement § Criteria for Evaluation ! Is it memorable? ! Does it focus on the core consumers? ! What picture does it portray in your mind – does that picture stand out from rest of the competition? ! Does it enable the brand to grow? ! Can it sustain for next 5 years? ! Does this serve as a filter for making decisions about the brand? § Tips: ! Follow the grammar, but be flexible ! Leave it, review it at a later date
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- 22. 22 4/20/14/ZKH Dow Brand Positioning Statement Forhomemakers, Dow Bathroom Products are the easy way to get a great clean shine for your tub, tile and toilet. That’s because only Dow Bathroom Products contain scrubbing bubbles that cut through dirt and grime clean to the shine!
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- 28. 28 4/20/14/ZKH Positioning Concepts § FunctionalPositioning ! Solve Problems ! Provide benefits to customers ! Get favorable perception by investors and lenders § Symbolic Positioning ! Self-image enhancement ! Ego identification ! Belongingness and social meaningfulness ! Affective fulfillment § Experiential Positioning ! Provide sensory stimulation ! Provide cognitive stimulation
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- 30. 30 4/20/14/ZKH Crest Whitesrips Brand PositioningStatement For consumers ages 16-35, Crest Whitestrips whiten teeth five times better than the leading paint-on whitening gel. Thats because Crest’s gel-coated strips hold the peroxide on teeth longer, to whiten stains below the tooth surface.
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- 41. 41 4/20/14/ZKH The AXE Effect § First launched in France in 1983 § The ‘effect’ is supposed to draw women in hordes to any male who has sprayed himself liberally with the Axe Deo ! Ads are slick ! Shows hordes of women – almost like out of James Bond movies – get irresistibly drawn to a man ! The man is a normal, non-Greek-God, man BUT with (axe powered) self- confidence § TG (Demographic): Male, 15-25 years, middle + upper middle § Brand is normal yet cool, trendy and confident § Axe comes as a confidante, being a partner / friend § “This world can only be divided in two parts: guys, and gals, and nothing else! Axe helps the guys stay ahead in the mating game”
- 42. 42 4/20/14/ZKH NOW IT’S YOURTURN 1. Draft a Brand Positioning Statement For (a) BRAC Bank (b) Any competition bank with ‘consumer’ banking (Local)