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Three questions you need to ask about your brand-An Indian Context
- 1. Three Questions You Need toAsk About Your Brand -An Indian Context
- 2. While developing abrand, the following questions need to be kept in mind... Have we established a frame? Are we leveraging our points of parity? Are the points of difference compelling?
- 3. Have we established a frame? Brandpositioning starts with establishing a frame of reference, which signals consumers the goal they can expect to achieve by using a brand. It also involves selecting the target group that the brand will appeal to
- 4. As the targetcustomers for Tata Nano were lower and middle income families, Tata Nano tried to position itself as the most Affordable Car in the world. The former Chairman of Tata, Mr. Ratan Tata, had envisioned Tata Nano to affordability can be considered as a point of reference
- 5. Also, it needsto be kept in mind that the frame of reference need to be altered according to competition from other brands, market factors, customer perceptions etc. For example, Tata Nano Poor repositioned Smart City Car focusing on the youth.
- 6. Are we leveraging our pointsof parity? Consumers might consider a brand truly legitimate only if it met certain points of parity.
- 7. While launching anew brand, the brand needs to satisfy certain basic requirements that will make it a legitimate player in that segment For example, A bank will truly be perceived so only if, it provides savings plans, safe deposits etc.
- 8. While extending abrand also it is important we keep in mind its points of parity… For example, for consumers the brand Frooti means mango juice. If Frooti was to launch an apple flavor, then it would be clashing with its points of parity
- 9. Established brands alsoneed to reassess their points of parity from time to time, because attributes that were differentiators once can become minimum requirements
- 10. In 2002, whenICICI bank launched its mobile ATM it was a highly innovative point of providing the same service and this point of differentiation was lost
- 11. Are the points of difference compelling? Wecan conclude that a point of difference is compelling if it is both desirable and deliverable
- 12. Desirable (Consumer perspective) Deliverable (Company perspective) Thepoint of difference needs to be relevant and believable The point of difference needs to be feasible, profitable and defensible(difficult to be attacked)
- 13. Putting it all together... It isalso necessary that the frame of reference, points of parity and points of difference are internally consistent at any point in time and over time
- 14. Do not giveattributes that contradict each other... For example, a brand cannot be positioned as both inexpensive & highest quality as in the case of Tata Nano. Since the car was priced at a very low amount, the consumers do not expect it to be of the highest quality
- 15. Making it last... As abrand ages the challenge is to make it stay up-to-date trends. This can be achieved in several ways...
- 16. #1If the brandis rich, then that same position can be sustained over a long time #2Relating brand to consumer needs #3Emphasising over a particular point of difference of the brand that is important to consumers
- 17. And remember... None ofthese variables which we have discussed so far are static... The most savviest brand managers are also the most vigilant!!!
- 18. Recap Three things whichwe need to keep in mind while positioning our brand are... Have established a frame of reference Are we leveraging our points of parity Are the points of difference compelling It is also important to make these factors last together without contradicting each other Finally be vigilant and dynamic!!!
- 19.
- 20. Disclaimer Created by ArjunS, MEC Kochi, during an internship by Prof. Sameer Mathur, IIM Lucknow. www.IIMInternship.com