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Branding strategy of oil companies
- 1. Branding strategy of Oil Companies UPES Dehradun 11/08/2017
- 3. What is a brand? • Brand is the sum of the perceptions that are held about a company or a product by external and internal audiences and stakeholders.
- 4. Product and Brand • An item ready for sales • Is what you need • Can be copied • Created by manufacturer • Performs a function • Is tangible • Can be outdated after a time • Distinguishes • Is what you want • Exclusive identity • Created by customers • Offers value/promise • Intangible • Remains forever
- 5. BRAND identity • Name, term, design, symbol or any other feature that identifies a product different from others • Persona of a brand
- 6. Corporate Brand Reputation • Stakeholders ( internal and external) overall estimation of an organization through experience and communication established over a period of time • It includes Corporate behavior
- 7. Corporate Brand Building • Enhancing Corporate brand reputation through strategies and tactics leading to increased Brand Equity • Strategies include product management, brand management and integrated marketing communication
- 8. Corporate Brand Image • Stakeholders ( external) immediate impression of an organization in relation to specific message or image ( logo, package, advertising etc)
- 9. Branding • Branding is the universe of activities you undertake that affects those perceptions. In order to effectively build a positive brand perception internally and externally.
- 10. Marketing and Branding • Marketing is what you do – Branding is what you are • Marketing promotes a product or service- Branding gives a meaning to why a business exists • Marketing uses persuasion – branding builds emotional connect
- 11. Oil & Gas Sector • Hardly any product differential • Similar pricing • Broad socio-economic spread • Imperative to develop loyal customer base • Top of the mind recall is the neeed • Emphasis on brand building
- 12. Challenges & goals • Disloyal customer • No product differentiation • Lack of B-C communication • Economy driven market • Increase customer loyalty • Emotional connect • Improve targeted communication • Deliver sustainable growth
- 13. IMC • Management concept designed to integrate all tools of marketing communication to work together as unified force and not in isolation to get the maximum impact • Tools are : Advertising, PR EM, DM, Personal selling, Sales Promotion & Interactive marketing
- 14. PR IS POWER • Creates positive Brand image • Improves relations with employees • Better engagement with community and influencers • Improves ties with Legislators and Govt officials • CRISIS MANAGEMENT
- 15. What is CSR? • Continuous commitment by Business organizations towards economic and social (including environmental) development of communities in which they operate • 3 Ps concept- People, Planet and Profit
- 16. Mandatory CSR in India • Companies Act 2013 makes it compulsory for organization to invest 2% of profit • More than 120000 crore INR available • More attention will be paid on ROI in CSR • Companies will use CSR funds for tangible benefit in brand building • Specialized professionals will be required for CSR strategy and communication
- 17. Brand Building through CSR • INTEGRATING CSR with the mission and vision of the organization • Strategic and sustainable CSR initiatives giving tangible/intangible ROI • Communicating to all stake holders( activist, Law-makers, media etc) • Seamlessly harmonize CSR in marketing communication
- 20. DIGITAL IS PRESENT & FUTURE
- 22. Digital vs Conventional advertising • Maximize efficiency rather than minimize waste • Ability to reach focused & niche audience • Auction based pricing • Ability to make one-one communication based on psychographic • Better optimization due quick response
- 23. Website objectives • Acquisition – through paid/owned/earned traffic • Behavior : what should they do? • Outcome : download, phone call, sign-up etc
- 25. Blogging • INTERNAL : Employee comments, Company news • EXTERNAL: Videos, Customer reviews, Press releases
- 27. Things to do • SEO PPC • WEB Self service • Social media marketing • Social bookmarking • Next gen chat support • UGC • Online PR • Affiliate marketing and link building • …and more
- 29. UGC! • According to research, 64% of millennials and 53% of baby boomers want more options to share their opinions about brands, while other studies show consumers trust user generated content more than all other forms of media. • Customers trust user generated content more than other form of media
- 30. Coke case • To help boost top-of-mind awareness, Coca- Cola created the “Share a Coke” campaign where they produced Coke bottles with customers names on the labels and handed them out throughout different cities and customers were then asked to share the pictures of their personalized coke bottle on Twitter and other social media platforms.
- 32. Starbuck case • Starbucks’ White Cup Contest launched in April 2014, Customers across the country were asked to doodle on their Starbucks cups and submit pictures on social media as entries. • The winning entry would be the template for a new limited edition Starbucks cup.
- 34. Event Management • A tool of IMC engaging TG through an activity ( event) relevant to TG for Brand recall & brand experience • It’s a strategic concept, much more than management of event • Growing in importance since media is fast fragmenting
- 35. Opportunities • Identifying national level events or creating and nurturing them • Associate as lead sponsors and investing in them long term • Make the event synonymous with your brand • Massive PR potential
- 36. Branding in VUCA environment • CSR is a real opportunity – ensures subtle and sustained brand building • Going digital – measurable and economical • Right mix of IMC tools • PR is more than PRs • Strategic Event Management- creating long term properties