The document discusses the importance of brands being different rather than just better in order to establish long-term competitive advantage. It emphasizes that consumers generally pursue "satisficing" by choosing adequate options rather than optimizing to find the best. Brands help consumers save time and effort in decision making. The document also outlines the customer acceptance cycle from awareness to loyalty and the steps in an effective image building process including brand audits and creating a connection triangle between product, consumer, and brand.

1. Brand Image Building 21 st Century Branding : Importance of Being Different Consumer Driven Marketing Cycle Customer Acceptance Cycle Image Building Process : Brand Audit, Scorecard Creating a Connection Traingle Evaluating the Robustness of Positioning

2. Importance of Difference : Satisficing For 99% of all consumers, “satisficing” is the goal 99% of the time Satisficing - purchasing a product that is “good enough” even if it’s not the best buy anywhere in the market Optimizing (finding the best buy in the market) requires too much time Did you satisfice or optimize your “spousal purchase”? How does satisficing relate to brands? “ [Brands] serve as handy identification tags, enabling … consumers to save significant amounts of time and energy in making choices.” 4

3. Being Better : Not As Important Being different is often more important than being better Operational effectiveness (being better) is usually not sufficient for long-term profitability and sustainable competitive advantage That which is superior today is inferior tomorrow, especially in technology industries A brand can outperform rivals only if it can establish a difference that it can preserve

4. Brand Image Building 21 st Century Branding : Importance of Being Different Consumer Driven Marketing Cycle Customer Acceptance Cycle Image Building Process : Brand Audit, Scorecard Creating a Connection Traingle Evaluating the Robustness of Positioning

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. Brand Image Building 21 st Century Branding : Importance of Being Different Consumer Driven Marketing Cycle Customer Acceptance Cycle Image Building Process : Brand Audit, Scorecard Creating a Connection Traingle Evaluating the Robustness of Positioning

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. Brand Image Building 21 st Century Branding : Importance of Being Different Consumer Driven Marketing Cycle Customer Acceptance Cycle Image Building Process : Brand Audit, Scorecard Creating a Connection Traingle Evaluating the Robustness of Positioning

9. Brand Audit A good brand audit gives a definite answer about six interrelated equities Product: Product performance supports the brand? Image: Image is strong and engaging? Customer:Strength of customer franchise? Channel: Leverage in channel environment? Visual : Clear,differentiating presence? Goodwill: Endorsed by influencers in the communities in which it lives?

10. Brand Audit : Equity Score Card Example Image Equity Brand still to develop a strong and engaging image of its own Borrows a lot from Tata mother brand & Tata Steel. SSL rub-off only in industrial segment. Customer Equity Strong franchise amongst medium/ large poultry& grape farmers where the brand offers long life, value for money. Very limited appeal in barbed wires. Product Equity Presents a clear, consistent & differentiating presence. Performs better across all segments Visual Equity Poor visual equity,in a market full of spurious products Brand does not present a clear and differentiating presence Channel Equity High affinity and relevance to channel Not well leveraged in channel with issues in location awareness, relationship management, channel conflict & brand display Goodwill Equity The brand has not made an attempt to seek endorsements from influencers or be involved in the communities in which it lives Residual goodwill of Tata name

11. Brand Image Building 21 st Century Branding : Importance of Being Different Consumer Driven Marketing Cycle Customer Acceptance Cycle Image Building Process : Brand Audit, Scorecard Creating a Connection Triangle Evaluating the Robustness of Positioning

12. Connection Triangle Product Benefit What I like it Consumer UHT Why I value it Brand Why I trust it

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. Brand Image Building 21 st Century Branding : Importance of Being Different Consumer Driven Marketing Cycle Customer Acceptance Cycle Image Building Process : Brand Audit, Scorecard Creating a Connection Traingle Evaluating the Robustness of Positioning

15. Positioning Checklist: Example Does Industrial segment value the positioning? Critical property delivery =higher value, justifies premium Cuts across diversity of industrial guys Does positioning exclude competitive offerings? Perception that only Tata can deliver No other brand owns the platform Is the positioning credible? History/experience of delivery Can we sustain the position for long? Needs strong relationship management Needs of industrial segments unlikely to change Needs a sound quality control Technology an entry barrier for competition Does it fit organization’s objectives? Enhances profitability Motivates channel