Brand Image Building

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    01-Nov-2014
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Approach to building a brand

Transcript of Brand Image Building

  • 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 its 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 organizations objectives?
    • Enhances profitability
    • Motivates channel