brand management

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Information about brand management

Published on December 23, 2008

Author: sahiba_kaur85


Brand Positioning & Values : Brand Positioning & Values Positioning : Positioning Identifying optimal location of a brand and its competitors in the mind of consumers or a market segment to maximize potential benefit to the firm “Location” of the product is such that the consumers/market segments think about the product/service in the desired way Basic Concepts : Basic Concepts Death of “one-size-fits-all” Mass production >> Mass customization “act of designing the company’s offer and image so that it occupies a distinct and valued space in the target customer’s mind Key steps: Who is the target customer? Who are the main competitors? How is the brand similar to the competition? How is the brand different from the competition? Target Market : Target Market Market – set of actual and potential buyers – motivation, ability and opportunity to buy your product Market segmentation – Dividing into Homogenous consumer groups Customization vs. Cost tradeoff – is “Mera wala green” profitable Segmentation base: Descriptive – Customer Oriented (who is the customer?) Behavioral – Product oriented (customer’s product usage) Segmentation Approaches : Segmentation Approaches Behavioral – most valuable - for e.g. toothpastes and /or deodorants – Sensory- seeks flavor & product appearance Sociables- seek social acceptability –brightness of teeth, fresh smell. Worriers – seek decay prevention Independent – seek low prices Segmentation Approaches : Segmentation Approaches Baldinger- Loyals Rotators Deal Selectives Price Driven Segmentation Approaches : Segmentation Approaches “Market Facts” a research company has developed a conversion model to measure strength of the psychological commitment between brands and the consumers openness to change. Segmentation Approaches : Segmentation Approaches This model segments users into- Convertibles – Threshold of change-highly likely to switch brands Shallow- Not ready to switch, but may be considering alternatives Average – comfortable with their choices, unlikely to switch in future Entrenched – staunchly loyal, unlikely to change at all Criteria for Segmentation : Criteria for Segmentation Identifiability Size Accessibility Responsiveness Profitability- most important Consumer Segmentation bases : Consumer Segmentation bases Behavioral User status Usage rate Usage occasion Brand loyalty Benefits sought Demographic Income Age Gender Race Family Psychographic Values, opinions, attitudes, activities, lifestyle Geographic International Regional B2B Segmentation bases : B2B Segmentation bases Nature of Good Specification Kind Where used Type of buy Buying Condition Purchase location Who buys Type of buy Demographics Financials Number of employees Size of production Number of establishment Points of Difference : Points of Difference Strong Favorable Unique brand associations Based on Attribute Benefit Develop a USP & a Sustainable Competitive Advantage (SCA) Points of Difference : Points of Difference Attributes – Kraft cheese – more milk Benefit - Ikea – reasonably priced furniture and home furnishings for the mass market, TV’s with remote locators USP – Dettol vs.Savlon – does not burn Iodex vs. Moov – does not leave stains Crocin vs. Vicks Action 500 – fast relief Lays chips vs. Bingo chips Points of Parity : Points of Parity Category POP- necessary for a credible offering – Banks must have different saving options. ATMs, lockers etc. Creams must moisturize and keep skin soft – gentle, protective, caring Competitive POP- negate competition’s POD- CNN – POD- in-depth and up-to-date news channel POP - adopted varied programming such as interviews & talk shows like other channels Positioning Guidelines - Steps : Positioning Guidelines - Steps Define & communicate a competitive frame of reference Choose POP and/or POD Establish these POP/POD Update Positioning over time Step 1 : Step 1 Establish a competitive Frame of reference Communicate brand category membership This helps provide consumers with a frame of reference & avoid confusion in consumers mind Important when introducing new products – ITC- Wiils-Fiama, Bingo etc. Well established brands do not need this – Coke- beverages, Kellogs, McKinsey etc. Competitive Frame of reference : Competitive Frame of reference Company can straddle 2 or more frames of reference – BMW – luxury & performance Kellogs – taste & health Maggi – fast to cook, healthy to eat Step 2 : Step 2 Choose POP/POD Desirability Criteria Relevance Distinct Believable Deliverability Criteria Feasible Communicable Sustainable Step 3 : Step 3 Establish POD & POP Taste vs. low calories Low price vs. quality Powerful vs. safe Family & Fun Nutritious vs. taste Establish POD & POP : Establish POD & POP Separate the attributes – Head & Shoulders – 2 attributes – dandruff removal & sleek, shine and healthy hair Leverage equity of another entity – brand ambassadors – Sachin Tendulkar & Boost, Reid & Taylor Redefine relationships – Apple’s Mackintosh – user friendly & powerful Step 4 : Step 4 Update Positioning over time Laddering – move from low level needs to higher level needs - Involves a progression from attributes to benefits to value creation – (Maslow’s Heirarchy) Cream/lotions – moisturizes skin- healthy & glowing skin- beauty & confidence Reacting – Do nothing Defensive Offensive Slide 22: Abstract values Motivations Laddering – Product functions >>> core values Updating brand positioning Benefits Attributes Brand Mantras : Brand Mantras Short phrase that captures the spirit of positioning Provides guidance to all the activities of the brand Emotional modifier>> descriptive modifier>> Brand function McD – “Food, folks and Fun Nike – “Authentic Athletic Performance” Disney – “Fun Family Entertainment” Zee Cinema – “Movies Masti Magic” Its should Communicate the category and boundaries Simplify.. To make brand memorable Inspire – Should stand out with a higher meaning Brand Mantras : Brand Mantras Expression of “Heart and soul” of brand Short 3-5 word phrases that capture the essence & spirit of brand positioning & values Creates a mental filter to screen out inappropriate marketing activities Communicate the category and boundaries Simplify.. To make brand memorable Inspire – Should stand out with a higher meaning 3 Aspects – Emotional – Descriptive - Function McDonalds – Food -Folks - Fun Nike -Quality -Athletic - Performance Disney -Fun -Family - Entertainment

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