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Assignment 2 - Elite 8 - team 4
- 1. ELITE 8 –TEAM 4 ASSIGNMENT 2 Nguyên – Khải – Thảo – Long - Thou
- 2. Brand positioning Brand promise Brandidea P-Product BEFORE JUMPING INTO DETAIL ANALYSIS, WE TRIED TO GET ALL THE TEAM MEMBERS ON THE SAME PAGE OF DEFINITIONS ABOUT… Brand communications 1 2 3 4 5
- 3. BRAND POSITIONING The conceptual& distinctive place the brand wants to own in mind of its target consumers (what a service provider or product stands for in consumer mind) The most compelling value the brand commits to deliver to its customers, it addresses customers’ expectations about a product or service (Brand promise is the execution of the brand positioning) BRAND PROMISE The essence of an unique long-term brand promise with strong reasons to believe. BRAND IDEA Let’s look at as a worth-to-learn example.. For price-sensitive shoppers, Walmart is the retailer that helps them feel “smart” and live better because only Walmart delivers unbeatable prices on the brands they trust, in an easy, fast, one-shop shopping experience Walmart’s brand positioning as the “low-cost leader” promises customers that they will offer unbeatable prices The combination of activities that influence customers' opinions of a company and its products BRAND COMMUNICATIONS
- 4. PRODUCT is A GOOD,SERVICE, OR AN IDEA received in an exchange. It can be either tangible or intangible and includes functional, social and psychological utilities or benefits GOOD a tangible physical entity (Ipad, Iphone) SERVICE an intangible result of the application of human and mechanical efforts to people or objects (concert, medical examination, insurance) IDEA a concept, philosophy, image or issue (agency, WWF promotes animal protecting) TOTAL PRODUCT CONSISTS OF 3 INTERDEPENDENT ELEMENTS Core product Supplemental features Symbolic or experiential benefits Product’s fundamental utility or main benefit and usually addresses a fundamental need of the consumer Consumer also received benefits based on their experiences with the product Provide added value or attributes in addition to the core utility/benefit. They are not required to make the core product effectively, but they help to differential one product brand from another
- 5. did not createthe coffee shop, but it did SYMBOLS AND CUES are used to make intangible products more tangible to consumers And.. “ “ make high-quality coffee beverages readily available around the world, with standardized service and stylish, inviting stores
- 6. INSURANCE CATEGORY SO, LET’S EXPLOREHOW INSURANCE COMPANIES BUILD THEIR BRANDS IN THE MARKETPLACE
- 7. MARKET OVERVIEW Source: https://vietnamcredit.com.vn(2020) All 4 players are competing in “Life insurance” market -> Let’s zoom in this sub-category
- 8. FOREMOST, WE DEEPDIVE TO SEE WHAT ARE THE KEY DRIVERS OF THIS CATEGORY? and then CATEGORIZED 4 BRANDS INTO THE DEMAND SPACES WHICH THEY ARE TRYING TO ASSOCIATE WITH …. CATEGORY DRIVERS: Category Drivers are motivations behind participation in a Category. WORRY-FREE PROTECTION RELIABLE LIFE ORGANIZING EASY TO UNDERSTAND SUSTAINABLE DEVELOPMENT 05 LIFE INSURANCE CATEGORY DRIVERS Market share’20: 13.6% Market share’20: 5.1% Market share’20: 4.2% New category driver which has been unlocked by FWD Market share’20: 20%
- 9. WORRY-FREE PROTECTION RELIABLE LIFE ORGANIZINGEASY TO UNDERSTAND SUSTAINABLE DEVELOPMENT PRODUCT Market share’20: 20% Market share’20: 13.6% Market share’20: 5.1% Market share’20: 4.2% How do the brands tap into category drivers with their products? Health protection Savings Investment Retirement Whole/term-life Health protection Savings Investment Health protection Savings Investment Health protection Savings Investment Family protection Diversified product portfolio
- 10. WORRY-FREE PROTECTION RELIABLE LIFE ORGANIZINGEASY TO UNDERSTAND SUSTAINABLE DEVELOPMENT PRODUCT Market share’20: 20% Market share’20: 13.6% Market share’20: 5.1% Market share’20: 4.2% How do they differentiate their products with Supplemental features Pulse By Prudential a health assistant to keep track of health progress, book online doctors find.., hospital location - as health being the foundation of sustainable life ManulifeMOVE Encourage people to be active in health activities: running, walking, etc. - following up on daily individual improvement VITA - Gen VITA app Make life more convenient by providing an app helping consumers to be worry-free about long & time-consuming insurance process. 1. EASY-TO-UNDERSTAND CONTRACTS, maximizing understanding of Exclusion terms 2. CONDENSED LISTS of insurance packages offered
- 11. WORRY-FREE PROTECTION RELIABLE LIFE ORGANIZINGEASY TO UNDERSTAND SUSTAINABLE DEVELOPMENT PRODUCT Market share’20: 20% Market share’20: 13.6% Market share’20: 5.1% Market share’20: 4.2% And be distinctive with Brand cues Logo: Winged lion Brand color: Dark red Assets: Italian style: Music, messages, products Logo: Human symbol Brand color: Light red Logo: “M” Symbol Brand color: Green Brand color: Orange Logo: Company name
- 12. How do allthe brands define themselves at brand positioning level? INSURANCE CATEGORY- EXECUTIVE SUMMARY A DAILY DECISION ADVISOR for whom enjoy idyllic, normal daily life experience to better their lives by providing daily progressive improvement A RELIABLE PARTNER who wholeheartedly listen to deeply understand you and always be there giving you a hand whenever you need a shoulder to lean on AN ULTIMATE PROTECTOR that empowers the youth to pursue the life as they wish it to be A WORRY- FREE INSURANCE with easy-to-understand standard by minimizing on the numbers of exclusions in all products, helping young consumers to be mind-free with their choices and enjoy the life the fullest.
- 13. BRAND POSITIONING A WORRY-FREEINSURANCE with easy-to-understand standard by minimizing on the number of exclusions in all products, helping young consumers to be mind-free with their choices and enjoy life to the fullest. TO WHOM Gen Z and Young millennials (22-35) who have young & dynamic lifestyle WHAT NEED The need to worry-free to live life to the fullest, follow passions DIFFERENT BY With FWD, insurance must be easy-to-understand RTB 1. Easy-to-understand contracts, maximizing understanding of Exclusion terms 2. Condensed lists of insurance packages offered 3. Customized for the young generation: Availability on popular E-com platform TRUTH: At the early stage, the young generation always want to experience their lives, trying new things and pursue their ambitions. Though desire for new things, they are afraid of unexpected things that happened along the ways (accidents, diseases) that forbid them to keep exploring life INSIGHT INSIGHT : “I always desire to experience all new and exciting things in life. However, unexpected risks prohibiting me from taking my chances ”
- 14. BRAND PROMISE With FWD,insurance must be Easy-to-understand BRAND IDEA Worry-free to live life to the fullest BRAND COMMUNICATION IDEA LIVE LIFE TO THE FULLEST (SỐNG ĐẦY) CAMPAIGNS Sớm bảo vệ, tự tin sống Sống đầy từ hôm nay
- 15. BRAND POSITIONING A DAILYDECISION ADVISOR for busy people looking for a better life with progressive improvement TO WHOM Millennials and Baby boomers (28-45) – Busy people WHAT NEED The desire to have a better life and enjoy every simple daily moments DIFFERENT BY Daily decision advisor RTB ManulifeMOVE Encourage people to be active in health activities: running, walking, etc. - following up on daily individual improvement TRUTH: Nowadays, in an uncertain life context, it becomes harder than ever for millennials to make the “right” decisions themselves when being stuck among many responsibilities (personal life, work, family) INSIGHT INSIGHT : “As a person living in a dynamic pace of life, I am willing to hustle for development. However, the busier I am, the more decisions I have to make in many aspects of life. To make sure I’m having the “right” progress on attaining a better life, I look for a daily life advisor”
- 16. BRAND PROMISE Manulife helppeople make Easier decision for a better life BRAND IDEA Decisions made easier. Lives made better BRAND COMMUNICATION IDEA EVERY DAY BETTER (TỐT HƠN MỖI NGÀY) CAMPAIGNS Hạnh phúc đơn giản là Hành trình hạnh phúc
- 17. BRAND POSITIONING A RELIABLEPARTNER who wholeheartedly listen to deeply understand you and always be there giving you a hand whenever you need a shoulder to lean on TO WHOM Millennials and Baby boomers (28-55) who treasure the loving moments of their families WHAT NEED The desire to be understood and loved by beloved ones DIFFERENT BY The passionate desire to understand and spread untold loves RTB Pulse By Prudential a health assistant to keep track of health progress, book online doctors find.., hospital location – for you and your loved ones TRUTH: The more modern world is, the more people lack true connections - a companion who always wholeheartedly listen to their feelings, understand their thoughts and support their lives. INSIGHT INSIGHT : “Being surrounded by many social relationships, but not many of them are closed enough for me to share all my feelings, my thoughts. Therefore, I still feel insecure and look for a reliable partner to give me a piece of advice and accompany me on my journey.”
- 18. BRAND PROMISE Prudential committo put itself in consumers’ shoes to understand and support them. BRAND IDEA Understanding to connect love (THẤU HIỂU ĐỂ GẮN KẾT YÊU THƯƠNG) BRAND COMMUNICATION IDEA LISTENING, UNDERSTANDING, DELIVERING CAMPAIGNS Khi tình yêu đủ lớn Không sao đâu
- 19. BRAND POSITIONING AN ULTIMATEPROTECTOR that empowers the youth to pursue the life as they wish it to be TO WHOM Gen Z and Young millennials 22 to 35 years-old WHAT NEED The desire to live according to their own will DIFFERENT BY The Italian Style brand assets RTB VITA - Gen VITA app: Make life more convenient by providing an app helping consumers to be worry-free about long & take time insurance process. TRUTH: People always have to live on social prejudices and be imposed with other personal ideas on how they should live their life. INSIGHT INSIGHT: “I’m always want to live as my own will but afraid of overcoming the fear of being disappointed by my beloved ones because of different expectations”
- 20. BRAND PROMISE Empower youto live the life as you wish to be BRAND IDEA Live as your wish (Sống Như Ý) BRAND COMMUNICATION IDEA LIVE AS YOUR WISH (Sống Như Ý) CAMPAIGNS Chẳng cần như ai, chỉ cần như ý Tết này có còn như ý
- 21. KEY TAKEAWAYS 1 DIFFERENTIATION When itcomes to a low differentiation category like life insurance services, category drivers become POINTS OF PARITY. To be distinctive, brands need to bring their POINTS OF DIFFERENTIATION by deeping dive into consumers insight to find a new category driver and become the 1st brand to own it Ex: FWD brings a new category driver “easy-to-understand insurance” to the market which stays true to consumer insights and market as well. But no one has communicated this difference. 2 SINGLE-MINDED Lack of coherence in translation from brand positioning to brand communication, product portfolio Ex: Generali - All the product’s names start with VITA, which means – “La dolce vita” (Italian) = “The good life” but because of the lack of communications about the meaning of VITA, the names are ambiguous and unclear to almost all customers 3 DISTINCTION Although symbols and cues are used to make intangible products more tangible Only Generali has built well-recognized brand cues with their typical red color, powerful winged lion symbol and Italian style assets
- 22. ONLINE FOOD DELIVERY CATEGORY AND, WHAT ABOUTBUILDING BRANDS IN ONLINE FOOD DELIVERY CATEGORY? LET’S CHECK IT OUT!
- 23. FAST DELIVERY TIMEPROMOTIONS DIVERSIFIED MENU CONVENIENCE DIGITAL ECOSYSTEM and SPECIALTIES are emerging category drivers FOREMOST, WE DEEP DIVE TO SEE WHAT ARE THE KEY DRIVERS OF THIS CATEGORY? and then CATEGORIZED 4 BRANDS INTO THE DEMAND SPACES WHICH THEY ARE TRYING TO ASSOCIATE WITH CATEGORY DRIVERS: Category Drivers are motivations behind participation in a Category.
- 24. FAST DELIVERY TIMEPROMOTIONS DIVERSIFIED MENU CONVENIENCE PRODUCT HOW DO THE BRANDS TAP INTO CATEGORY DRIVERS WITH THEIR PRODUCTS? Diversified product portfolio Order food on app Order food on app Cloud kitchen Grab Mart Food delivery Food delivery Baemin Kitchen Baemin Mart Food delivery NowMart Order food on app Order food on app Food delivery Order food on app Order food on app
- 25. FAST DELIVERY TIMEPROMOTIONS DIVERSIFIED MENU CONVENIENCE HOW THEY DIFFERENTIATE THEIR PRODUCTS WITH Supplemental features A HUGE ECOSYSTEM (GrabRewards, GrabMoca, Grab Delivery, Grab Car,..) – “The future of grab your everyday app” EXCLUSIVE DISHES GRAB KITCHEN Selected restaurants which are operated and managed by Grab BẾP NHÀ Selected restaurants which are operated and managed by Baemin THỬ CHÚT HEALTHY Healthy food collection – only on Baemin only on GrabFood FOOD REVIEW PLATFROM Public review food platform for everyone to share and find trusted reviews TABLE RESERVATION with good deals from restaurants. PRODUCT
- 26. FAST DELIVERY TIMEPROMOTIONS DIVERSIFIED MENU CONVENIENCE AND BE DISTINCTIVE WITH Brand cues Color: Blue Signature mascot Signature font Color: Dark Red Color: Light Red Color: Green PRODUCT
- 27. How do allthe brands define themselves at brand positioning level? ONLINE FOOD DELIVERY CATEGORY- EXECUTIVE SUMMARY A FOOD CONNECTOR bonding people to the diverse cuisine A RESCUER in daily eating dilemmas by offering super fast service and wide range of options A CAREGIVER wholeheartedly caters for your everyday meals and brings you your favorite, hot and delicious food A FOOD DELIVERY EXPERT who give you the joy of savoring food
- 28. BRAND POSITIONING The caregiverwholeheartedly caters for your everyday meals TO WHOM Millennials - White-collar workers - Urbanities Giving utmost care to your everyday meals and bringing your favorite, hot and delicious food 1. Collection of starred restaurants/food courts with unique menu offering 2. Ecosystem of Grab (Moca, GrabRewards,..) 1. Fast delivery team, bringing the hottest and most delicious meal. 2. Wide range of dishes can cater to all needs TRUTH: at the early stage, young people do not pay much attention to their daily meals. They rather leave it later or even skip the meal to spend more time on other urgent tasks. INSIGHT INSIGHT: “As a busy person, I am regularly sacrificing my meals to focus more on other goals. Even though it is not good in the long run, I have to accept the dilemma.” WHAT NEED DIFFERENT BY RTB
- 29. BRAND PROMISE Promise tocare for your every meals with your favorite delicacies and a "fast" delivery service BRAND IDEA Grabfood exists to cater to your everyday meals so that you could spend more time and effort on things that matter BRAND COMMUNICATION IDEA NEVER MISS A MEAL CAMPAIGNS
- 30. BRAND POSITIONING A FOODCONNECTOR bonding people to the diverse cuisine TO WHOM Gen Z and Young millennials - Urbanities - 18 to 35 years-old - White-collar WHAT NEED Exploring food world with objective reviews and reasonable prices. DIFFERENT BY 1. A category where everyone can assess, review restaurants. 2. Ordering directly on the website. RTB Corporation with more than 20.000 (from big to small) restaurants all around Vietnam. TRUTH: Today’s generation fall in love with food and they are bombarded by a bunch of food choices. INSIGHT INSIGHT: “Exploring food is the instinct of my generation. However, due to the abundant choices nowadays, I am hesitant and confused in terms of choosing where to eat. Therefore, I need to reference different points of view to make wise decisions.”
- 31. BRAND PROMISE Bring thewhole food world to your hand with trusted reviews and surprising deals. BRAND IDEA KING OF DEALS BRAND COMMUNICATION IDEA SUPER DEALS CAMPAIGNS Siêu deal 10K Deal Tột đỉnh
- 32. BRAND POSITIONING A FOODDELIVERY EXPERT who give you the joy of savoring food TO WHOM - Gen Z and Young Millennials - Urban citizens - 18 to 30 years-old - White-collar WHAT NEED Seeking for joyful eating experience DIFFERENT BY - Focus merely on food delivery - Brand Visual Identity: Concretize the intangible service by funny brand mascots ‘Fat Cat’, fonts and distinctive color. RTB The number 1 food delivery application in Korea. TRUTH: “Eat better, Feel better” is a universal truth, especially for youngsters.” INSIGHT INSIGHT : “Enjoying good foods always brings happiness, especially for a youngster like me. However, a busy work-life prevents me from exploring new eating experiences. I am looking for a trusted food expert who could bring joy to my daily dishes.”
- 33. BRAND PROMISE Baemin bornto serve everyone good food everywhere, everytime BRAND IDEA CALL BAEMIN, HAVE GOOD MEALS BRAND COMMUNICATION IDEA CAMPAIGNS TRÙM CUỐI KHAO TẤT NIÊN THỬ CHÚT HEALTHY Disclaimer: Baemin does not own a consistent and cut-through Communication Idea. It jumps directly to the Campaign Idea level
- 34. BRAND POSITIONING THE RESCUERin daily eating dilemmas TO WHOM Millennials (20-35) Busy Dynamic Lifestyles Urbanities WHAT NEED Escaping daily eating dilemmas at your best convenience so that you could be carefree and enjoy DIFFERENT BY 1. Low transport fee 2. Fast delivery team RTB A wide range of restaurants to choose FACT: Sometimes your best solutions may not be the optimal ones in a dilemma. INSIGHT INSIGHT: “In times of unexpected hardships in life, the wisdom will emerge, but it is still cumbersome. I need a faster and worry-free solution so that I could enjoy life more.”
- 35. BRAND PROMISE Save youfrom hardships at your best convenience so that you can live carefreely BRAND IDEA Carefree at super fast convenience BRAND COMMUNICATION IDEA Don’t think, book GoViet now! CAMPAIGNS Suy nghĩ chi, GoViet đi! Món gì cũng có, mà còn giao nhanh!
- 36. KEY TAKEAWAYS 1 A CUT-THROUGH CORECREATIVE IDEA ENSURE THE CONSISTENCY OF BRAND COMMUNICATION AND ACTIVATION. 2 COMPETING ON SHARE OF HEART. GRAB IS FAR AHEAD OF COMPETITORS. While competitors still more focus on dialing up functional benefits (deal, fast delivery, diversified menu), GRAB is one step ahead with a meaningful communication platform “Never miss a meal”. As a caregiver, GRAB smoothly jumps in and solves the tension of young millennials. BAEMIN - The lack of a single-minded BCI layer leads to incoherence at the campaign level. As the result, consumers cannot get what the brand is trying to sell.
- 37. THANK YOU! Nguyên –Khải – Thảo – Long - Thou