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By: Barkha Verma Sneha Sahai Himanshu Raj Kundanika Kamewal Kunal Grover
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Identifies how the company plan to sell its products to the marketplace Documents how the people in marketplace think about its products and business Documents how its business positions its products and services contains strategies for selling A product strategy can encompass any number of products, depending on the nature of the business The company can have one strategy for each major product or the same strategy for all of them It involves answering the questions like: Who is the product aimed at? What benefit will customers expect? How does the firm plan to position the product within the market? What differential advantage will the product offer over their competitors? Benefits: Helps you analyse know your product - product knowledge Provides client focus Gives shape and form to the sales messages Helps analysing the competition and position the products competitively Helps to price the products competitvely Keeps up-to-date, forward looking and pro-active
It can be based on product features.Refers to the unique position the product creates in the marketplace.COMPONENTS OF PRODUCT STRATEGY Business objectives – The product strategy needs to fit with the general aims and objectives of the business and help to achieve them Target market(s) – It identifies to whom to sell the products. benefits.It may sometimes happen that the data the company gather about its competition may cause it to rethink its strategies.The needs of the people in the target market are what is selling. usage. needs. SWOT analysis is generally used Making product changes – Documents the need to make changes to the products or services to keep ahead of the competition . Selling strategy . another product etc. It helps in developing later components of the product strategy Product positioning . or solutions. Target market can be described in several ways like geographic. socioeconomic and demographic characteristics Client needs .Tells the strategies that fits best with all other strategies so as to make the most sales Competitor intelligence .
DIMENSIONS OF PRODUCT STRATEGY Product Positioning: Placing the brand in that part of the market where it will have a favourable reception Product Re-positioning: Reviewing the current positioning and seeking a new position that seems more appropriate Product Overlap: Competing against one‟s own brand through introduction of competing products Product Scope: Deals with the perspectives of the product mix of the company Product Design: Deals with the degree of standardization of the product Product Elimination: Cuts in the composition of the company‟s business unit product portfolio New Product: Set of operations for introducing a new product either within the business or on the market Diversification: Developing unfamiliar products and markets through horizontal and vertical diversification Value Marketing: Delivering on promises made for the product or service .
Inc. whether everyday running or basketball.sports apparels.sipper s.bags and other sports equipments Focus is on people who are interested in sports activities People who want to look athletic and fashionable Fitness enthusiasts Innovation is at the heart of NIKE.NIKE Products : every type of sport shoes.'s business growth strategy Target audience connects the brand with the effort and determination needed to succeed and is motivated to improve their own “game”. .
NIKE Commercial .
or a combination intended to identify the goods and services of one seller to differentiate them from those of other sellers. symbol or design. four years after the downturn. The total experience associated with a company product or service. sign. term. BRAND The American Marketing Association (AMA) defines a brand as a "name.A McGraw-Hill study showed that. BRANDING Its how your customers relate to your company It separates you from your competition The objectives that a good brand will achieve include: • Delivers the message clearly • Confirms your credibility • Connects your target prospects emotionally • Motivates the buyer • Concretes User Loyalty . the companies that had maintained or increased the marketing communications during the economic slowdown typically experienced 14 times more growth than the companies that cut back.
Developing Brand Vision Establishing Brand position Fulfilling Brand Contract Communicating Brand Position Measuring RoBI .
and profit contributions Brand Position A brand‟s positioning is the place in consumer's minds that you want your brand to own. relative to brand value.the benefit you want them to think of when they think of your brand. Guaranteed overnight delivery Family Fun Entertainment . revenue.Brand Vision Provides a vision that forces management to articulate what they want the brand to “do” for the organization over the next five years.
Low prices and good value Innovation Five Principles of Effective Positioning Fit: Seek to leverage strengths of existing brand position Value: focus on the percieved benefits that customer value Uniqueness: Go where the customers are not Sustainability: Maximize the length of time this positioning can be hold within the competitive set Credibility: Get a credible fit between who you are and the supplier predicted by the customer model .
Brand Contract It is a list of all promises that a brand makes to the customer. Such a contract is executed internally but it is defined and validated externally by the market place. appropriate for having a conversation with friend or reading a book • Its much about the experience than the coffee itself . Implicit Brand Contract • Provide the highest quality coffee available in the market today • Offer a wide variety of options in beverages as well as complementary food items • Have an atmosphere that is warm and friendly.
Successful Brand Based Communication Use all communication strategies to help achieve your corporate strategy and brand vision • • • • Web based Print Broadcast Space Metrics to measure Return on Brand Investment • • • • Acquired Customers Customer Loyalty Financial Value Price Premium .
BRANDING STRATEGIES Individual Branding Iconic Branding Derived Branding Crowdsourcing branding Branding Strategies Brand Extension „No Brand‟ Branding Multi Brand Strategy Private Labels .
positions itself in the PC market with the slogan "Intel Inside.• Individual Branding : Individual brand names naturally allow greater flexibility by permitting a variety of different products. P&G have 10 detergents in the market. of differing quality. Brand Extension and Brand Dilution: The existing strong brand name can be used as a vehicle for new or modified products. Derived Brands: Some suppliers of key components may wish to guarantee its own position by promoting that component as a brand in its own right. Multi Brand: In a very saturated market. • • Iconic brands: are defined as having aspects that contribute to the consumer's self-expression and personal identity.“ "No brand“: branding may be construed as a type of branding as the product is made conspicuous through the absence of a brand name. a supplier can deliberately launch totally new brands in apparent competition with its own existing strong brand to soak up some of the share of the market. Eg. For example. Unilever is the prime example. and may outperform those products that are not otherwise strongly branded. many fashion and designer companies extended brands into fragrances. For example. Private Labels : Where the retailer has a particularly strong identity this "own brand" may be able to compete against even the strongest brand leaders. Problem of Cannibalization. Apple. shoes and accessories. Intel. • • • • . "Tapa Amarilla" or "Yellow Cap" in Venezuela was simply recognized by the color of the cap of this cleaning products company. Eg Nike.
AMUL – Utterly butterly Delicious Brand Identity : Mascot & Tagline Brand Perception : Most Trusted Brand in taste. quality & value Brand Promise : Best quality at reasonable price Family Branding : For most of the products Advertising Strategy: Unique & contemporary .
Marlboro’s Street Bond Compromise with profits Eliminates low price competition Cannibalization Ex Kodak • Protects premium profits • Failure to bury the competition Ex.Branding in recession – Fighter Brand Reduce Price Launch a fighter brand Ex. Merck‟s Zocor Opens up a new market for organization Missing the mark with customer .
Adidas Global Brand Strategy Driving long term development of adidas and Reebok Focus on consumer Brand Architecture and differentiation Leadership in product innovation to excite and inspire the consumer Marketing and communication leadership .
anticipating change • Show excellence in communication .To fulfill consumer demands Adidas adheres to the following principle Create the unexpected in terms of product and brand experience • Create highest emotional connection between our brands and the consumer Be prepared for the next generation.
Thomas Muller. Real Madrid. Xavi Alonso. Van Persie . Since the brand has been synonymous with football and being a sponsor at World cup Sponsor of official kit of Brazil France in the past At present sponsor of European elites like AC Milan. Bayern Munich and Chelsea Brand ambassador at present include Messi. Del Piero.Adidas and Football Started of supplying shoes to the West German National team at the 1954 world cup. Benzema.
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