You are on page 1of 83

You and Your Business are Brands!!!

WHAT IS A BRAND?

There Are No Such Things As Commodity Markets, Only Commodity Marketers.

IN THE WORDS OF CHARLES REVSON, FOUNDER OF REVLON


In the factories we make cosmetics At the counters we sell hope.

What is Your Equivalent of Selling Hope?


Thats the definition of your brand!

Your Equivalent of Selling Hope Must Be


Clear

Distinct Desirable

My Definition
A brand is a promise to the consumer to deliver a particular desired experience each and every time; A brand is a relationship between company and customer; A brand only resides in the customers mind; Brand loyalty implies owning the relationship to the exclusion of competitors.

My Definition
It is the sum of the good, the bad, the ugly, and the offstrategy. Brands are sponges for content, images, and fleeting feelings. You cannot entirely control a brand. At best you can only guide and influence it. It is more than a physical product.

My Definition
It is defined by
Your best and worst product or service. Award-winning and terrible ads. A great employee and your worst hire. Your customer service desk personnel and the music you hear as you shop the store. Your dazzling graphics website which is not customer friendly. A finely worded CEO pronouncement and every derisory consumer comment.

Brands as Assets
Kraft was purchased for more than $13 billion, more than 600% over its book value and far beyond the worth of any balance sheet item representing bricks and mortar.

This is a brand
Name Mark, symbol, icon Promises we make to the buyer Core values A relationship between the buyer and seller The moment of truth

Brand Recognition Without the Brand Name!

Additional Leading CPG Brands

Brands Are The Single Most Important Asset Any Manufacturer Has In Todays Selling Environment. It Is Increasingly Clear That Manufacturers That Invest In Their Brands And Cultivate Their Equity Will Be Here In The Future. Those Manufacturers That Dont, Will Not.

The Brand as a Relationship


Consumers offer their trust and loyalty With the implicit understanding that the brand will behave in certain ways And will provide them benefits Through consistent product performance And through appropriate pricing, promotion, and distribution programs and actions

The Final Frontier


According to Dave Nelson, food industry analyst for Credit Suisse First Boston, the meat case is the final frontier of branding in the food industry In the 1997 Branded Beef Study, 61% of respondents indicated they would be motivated by a trusted brand, one that delivers quality consistently

Branding is NOT a Panacea


The brand is only as good as the quality of the product. A label is NOT necessarily a brand. Success requires product innovation:
Success requires effective marketing:
Get the message out, consistently! Consumer friendly products that provide solutions to consumers meal problems.

The challenge for all brands is t hat t hey have a clear, dist inct , and desirable image t hat mat t ers t o t he cust omers and t ruly different iat es t hem from t he rest . A company s brand is t he primary source of it s compet it ive advant age and a valuable st rat egic asset .

Branding is Story Telling. Goal: Become a Club People Want to Belong To. Think of Your Brand as a Country With Its Own Language, Rituals, and Customs. Branding is an Intimate Dance with Consumers. Use Words and Pictures. Think of _______ as Free. Customers are Paying for the Experience. What experience are you providing?

Non-Traditional Thoughts on Branding

Man cannot live by White Chocolate Apricot bread alone, but from what we hear, many have genuinely considered it. It might be our creativity: eatZi's has dreamed up over 35 different and tantalizing varieties to suit every taste and meal companion. It could be our artisan bakers, who rise every day (sorry) to lovingly knead, shape and bake the fruits and cheeses, nuts, whole grains and imported flours of their labors.

Or it could be our special stone hearth bread ovens, where the worlds most heavenly crust and fresh-baked fragrances emerge several times a day, to the strains of, Hot olive oil boules, coming up! or, Getcher three-chili cheese bread!
Experience eatZis bread today. The staff of life, taken up a few notches.

On the Corner of Your Life In the restaurant. On the go. Pick up or delivery, catering at the office or entertaining at home. Morning, noon and night. Whenever you want it, wherever you want it, when you're hungry for something good, Corner Bakery Cafe is the perfect place to go. Let us help you Feed the Day!

You have a social life, a business life, a family life, a love life. Now there is an environment dedicated to your food life. It's about choices. You can have comfort food, healthy food, lots of food or just a snack. The 600-seat foodlife hinges on the credo "eat the world."

How Does It Work?


Customers are given a food "credit" card to use at each kiosk. Use the card to order your food and present it to the cashier when you are finished with your meal.

This one-stop payment system allows for convenient grazing at the various kiosks.

Experience the fun! At Build-A-Bear Workshop you personally experience the joy of creating your very own teddy bear or other stuffed animal! You will find a wide range of furry friends to choose from with a vast assortment of outfits and accessories to match any personality!

What Unique Experience Are You Providing????

25 Strategic Points of Differentiation (SPOD)


Set Your Brand Apart From Your Competitors

SPODs
1. Have The Freshest Products
2. Have The Greatest Variety Of Products 3. Be The Low Price Leader 4. Be Price Competitive 5. Be The Easiest To Shop

SPODs
6. Be The Most Community Involved 7. Be The Cleanest, Most Sanitary 8. Have The Highest Quality Products 9. Have The Most Knowledgeable Staff 10.Be The Best Place To Work

SPODs
11.Be The Most Kid-Friendly 12.Be The Most Savy Niche Marketer 13.Have The Fastest, Most Efficient Checkout 14.Be The Most Fun (Treasure Hunt) 15.Be The Friendliest Place In Town

SPODs
16.Have The Most Convenient Location 17.Have The Greatest Selection Of Services 18.Be The Most Cost-Conscious 19.Be The Most Technologically Advanced 20.Be The Most Unique And Creative Operator

SPODs
21.Be The Best Meal Marketer (Food Service) 22.Have The Most Personalized Service 23.Have The Strongest Signature Items 24.Be The Most Socially Responsible And Environmentally Friendly 25.Be The Most Promotionally Exciting

SPODs
Most organizations have one convincing SPOD and two maybes.
Three SPODs needed for survival Four to five to thrive. Keys: Selecting & Executing

Selecting
1. Convene a group of your most involved, dedicated and wisest associates.

2. For each SPOD ask the following:


1. Is being the _______ -est something we really want to achieve? 2. Is being the _______ -est something our customers want? 3. Are we physically, financially, and intellectually capable of achieving the _______ -est?

Selecting
3. If a SPOD receives three yeses it qualifies as a potential top 5.

4. Compare each respondents top 5 5. Develop the group consensus of the top 5 most relevant SPODs
6. Develop & Implement a plan for each.

What keeps me awake at night are the intangibles. Its the intangibles that are the hardest thing for a competitor to imitate. The spirit of the company is the most difficult to emulate. So, my biggest concern is that somehow through inattention, through misunderstanding, we lose the culture, the spirit. That is our most competitive asset.
Herb Kelleher Founder, Southwest Airlines

Remember: Think Like a Brand and Act Like a Retailer

Doing the right thing at the right time under pressure will yield the right result

Thank You & Good Luck!

Dr. Richard J. George rgeorge@sju.edu Professor of Food Marketing IFDA/Gerald E. Peck Fellow Haub School of Business Saint Josephs University www.rjgeorge.com