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Brand Life Cycle PDF
Brand Life Cycle PDF
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ACKNOWLEDGEMENT
I Anirwan Chandra Dutta, a student of I.B.S. Kolkata
Enroll. No. 10bsp0568 is really grateful to our professor
and mentor Dr. Shibhashish Chakraborty, who gave me
the opportunity and privilege to show and perform what
I have learnt during these days in the facade of a Project
file.
I am also thankful to my college to provide me with the
required data for the project. I also thank my parents
who stood by me, whether be it financially or morally it
really helped me. I also thank my friends who were
readily available to help me out sincerely.
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ABSTRACT
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TABLE OF CONTENTS
Contents
Page.no.
1. Acknowledgement
02
2. Abstract
03
05
06
11
18
34
40
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will begin selling Rolls Royce vehicles in 2003. Sales of all the BMW, Rover,
and Land Rover vehicles have been on the rise globally. High-profile image
campaigns and the award-winning BMW website continue to increase the
popularity of BMW's products. BMW cars typically have a product life cycle of
seven years. To keep products in the introductory and growth stages, BMW
regularly introduces new models for each of its series to keep the entire series
"new." For instance, with the 3 series, it will introduce the new sedan model one
year, the new coupe the next year, then the convertible, then the station wagon,
and then the sport hatchback. That's a new product introduction for five of the
seven years of the product life cycle. McDowell explains, "So, even though we
have seven-year life cycles, we constantly try and make the cars meaningfully
different and new about every three years. And that involves adding features
and other capabilities to the cars as well." How well does this strategy work?
BMW often sees its best sales numbers in either the sixth or seventh year after
the product introduction. As global sales have increased, BMW has become
aware of some international product life-cycle differences. For example, it has
discovered that some competitive products have life cycles that are shorter or
longer than seven years. In Sweden and Britain automotive product life cycles
are eight years, while in Japan
they are typically only four
years long. BRANDING "BMW
is fortunate-we don't have too
much of a dilemma as to what
we're going to call our cars."
McDowell
BMW's
is
referring
trademark
to
naming
found this naming system to be clear and logical and can be easily understood
around the world. The Z and X series don't quite fit in with this system. BMW
had a tradition of building experimental, open-air cars and calling them Z's, and
hence when the prototype for the Z3 was built, BMW decided to continue with
the Z name. For the sport activity vehicle, BMW also used a letter name-the X
series-since the four-wheel drive vehicle didn't fit with the sedan-oriented 3, 5,
and 7 series. Other than the Z3 (the third in the Z series) and the X5 (named 5 to
symbolize its mid-sized status within that series), the BMW branding strategy is
quite simple, unlike the evocative names many car manufacturers choose to
garner excitement for their new models. MANAGING THE PRODUCT
THROUGH THE WEB - THE WAVE OF THE FUTURE One of the ways
BMW is improving its product offering seven further is through its innovative
website (www.bmwusa.com). At the site, customers can learn about the
particular models, e-mail questions, and request literature or test-drives from
their local BMW dealership. What really sets BMW's website apart from other
car manufacturers, though, is the ability for customers to configure a car to their
own specifications (interior choices, exterior choices, engine, packages, and
options) and then transfer that information to their local dealer. As Carol
Burrows, product communications manager for BMW, explains, "The BMW
website is an integrated part of the overall marketing strategy for BMW. The
full range of products can be seen and interacted with online. We offer pricing
options online. Customers can go to their local dealership via the website to
further discuss costs for purchase of a car. And it is a distribution channel for
information that allows people access to the information 24 hours a day at their
convenience."
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POINTS OF CONSIDERATION
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CASE ANALYSIS
B.M.W. has taken an innovative strategy of always keeping its product-line and
the brand stake always in the first 2 phases of brand life cycle and never go to
the following stages of it.
To make it happen they always keep evolving and upgrading their product line
each coming year, thus even though their model reaches its decline period its
life cycle keeps extending due to up gradation and keeping its product-line new
and competitive.
Due to this strategy it sees the best sale of the model in the 6 th or 7th year of its
life tenure.
B.M.W. has discovered new scales of brand and product life cycle in different
markets in different parts of the world, and accordingly have to plan to develop
stake market there.
B.M.W. does not fancy the trend of naming its products distinctly, but launches
them under the brand name of B.M.W. only. It has also developed a new
strategy of marketing through the internet.
Reference: www.bmwusa.com.
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The three phases through which brands pass as they are introduced, grow, and
then decline. The three phases of the brand life cycle are the introductory
period, during which the brand is developed and is introduced to the market; the
growth period, when the brand faces competition from other products of a
similar nature; and, finally, the maturity period, in which the brand either
extends to other products or its image is constantly updated. Without careful
brand management, the maturity period can lead to decline and result in the
brand being withdrawn. Similar stages can be observed in the product life cycle.
Brand
Life
Cycle
and
Strategy
Generally speaking, every brand or product has its life cycle which spans from
the time it is launched to the time it exits from the market. This cycle covers
five stages, namely product development, introduction, growth, maturity and
decline. The life cycle of each and every brand or product is different, and
different advertising strategies should be adopted at different stages to suit the
marketing targets and market environment in order to achieve the best
marketing results.
BRAND LIFE CYCLE GRAPH
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increase its market share. On the mainland, it aims to draw the attention of
consumers and increase its reputation.
Some brands or products may experience exponential growth in their life cycle.
When China began its reform and opening up in the early 1980s, mainlanders
who came into contact with the new technologies and new products of foreign
countries for the first time found them amazing. These products saw rapid
growth and penetrated the mainland market within a short time, experiencing
only the introduction and maturity stages in their life cycle.
Examples of Exponential Growth
Mobile phones were rare commodities on the mainland in the early
1990s, but by August 2001, China had overtaken the US as the world
leader with 100 million mobile phones. Home PCs also witnessed
exponential growth. In 1994, there were only 400,000 PCs in China.
The number soared to 10 million within a short span of eight years.
Source: Synovate Ltd
SMEs must have a good understanding
of the positioning of their brand and
product
category
effectively
before
formulate
they
can
marketing
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POINTS OF CONSIDERATION
Product development
Introduction
Growth
Maturity
Decline
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CASE ANALYSIS
In this case the process of brand life cycle has been explained and what role it
plays in determining whether a brand is dieing or is suffering from a heart attack
or is extending to lie on.
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Growth phase:
The product which was launched starts to build itself up as a brand among
consumers during this stage. The cumulative effect of marketing and
proper sales figure begins to show the growth and strength of it and the
growth of the market share expands. Moreover, the company must further
step up its advertising efforts to highlight the characteristics and value of
the product for it to perform in the long run.
Maturity phase
developing new product line, as the name and trust of the brand will be
huge and trust is also great which can be used as a medium to return in
the market with a big bang.
Sometimes it can be good but most of the time it actually pushes the
brand towards declining stage because as maturity reaches innovation and
repositioning is need to sustain the brand but many a times companies are
not ready for it and thus face doom.
Reference:
http://www.hktdc.com/info/mi/a/pgbp/en/1X005EN7/1/Practical-Guide-ToBrand-Promotion-In-China/2-1-Brand-Life-Cycle-And-Strategy.htm
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Using metaphors
The development of a product or service is often discussed in terms of a life
cycle. Here the same metaphor is used to link the concept of branding to the
human condition. However, it is acknowledged that this is far from a perfect
fit, as will be clearly seen in the later discussion on terminally ill brands.
On this basis it is not impossible that some of the major brands that currently
adorn our homes and offices will face decline and death in the future. Of course
these are brands with long, and for the most part, a distinguished history. They
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leave various legacies. However, this states nothing of the minor brands that
come and go, virtually everyday, almost at a blink of an eye.
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view of how various animal species, including ourselves, have adapted to our
changing climatic, rural and urban environments over hundreds of years.
How a brand adapts to the changing environment is largely in the hands of the
brand managers, their team and the company as a whole. A company can, and
many do, bury their collective heads in the sand, become complacent and fail to
realize (except when it is too late) that their brand is about to become extinct.
Brand Adaptation
Adaptation can take time. McDonalds is an example of a corporate brand that
has needed to adapt in order to develop and survive mounting criticism. These
adaptations have been driven by:
The need to understand local cultural demands often linked to religious
beliefs. Therefore, the adaptation of products has needed to match the
local cultural perspective, such as vegetarian meals.
There is mounting concern throughout North America and Europe over
increasing obesity, especially in children and adolescents. This has
resulted in the reduction of proportions such as the super-size meal in the
USA.
Food sources and perceived disease risks from factory-farmed produce.
Requirements for organic rather than factory-farmed produce on both
ethical and quality grounds. Adaptations have included the introduction
of salads, low-fat, low calorie and organic-sourced ingredients.
Innovation
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that if Henry Ford had not sought innovation, and thus evolution, the Ford brand
would have been yet another car brand landing on the scrap heap.
The Ford brand has outlasted many of its younger rivals. But it, too, cannot
afford to become complacent. The international car market is saturated; there
are many more international players and several companies have merged to pool
their resources in order to survive.
The car brands are facing new challenges such as the impact of global warming,
global dimming and changing consumer preferences. Thus new innovative paths
must be followed for the companies to rejuvenate their brands. This
rejuvenation should, in turn, contribute toward gaining competitive advantage.
However, it must be remembered that gaining a competitive advantage is only
one part of the equation. The challenge is to sustain that advantage over the
longer term.
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Lucozade
In 1927 in the Northeast of England an energy drink Gluozade was
introduced. By 1929, it was re-branded as Lucozade and for some 50 years was
marketed as a convalescent drink for those who were ill. During the 1950s
and 1960s it was Beechams largest brand. However, with increased market
pressures it was repositioned in 1985 as an every-day replacement energy
drink. This allowed the company to broaden its market.
In 1986 the product line was extended to include orange and lemon variants.
The product line was further enhanced, in 1990, with the introduction of a new
tropical flavored variant. Although changes had already been implemented, by
1996 there was a need for a major repositioning within the market. The brand
was re-launched with a newly shaped 300ml bottle (later replaced by a 380ml
PET bottle), a new logo and fresh inventive advertising. Further revitalization
came in the form of the computer-generated adventure character Lara Croft, the
heroine of the game Tomb Raiders. Lara Croft was the focal point of the
advertising and reinforced the drink brands position as an iconic energy
drink.
Since these acts of revitalization Lucozade has become on of the worlds best
known energy drinks with major markets in the UK, Ireland, Mexico and Hong
Kong.
Benetton
Re-positioning may be undertaken on a local, regional and indeed international
level. For example, in 2000 the international clothing retailer Benetton sought to
increase its presence in the USA. At that time it only had a New York outlet so
Benetton signed a major deal with the nationwide Sears group. This would, over
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time, provide Benetton with some 800 outlets within Sears stores.
Simultaneously, Benettons radical marketer Toscani was developing another
controversial advertising campaign. This time the campaign focussed on
advertisements that featured prison inmates on US Death Row, which proved to
be too controversial.
Opponents were able to create a word-of-mouth storm that lead to Sears
terminating the contract (estimated to be worth several million dollars). This
was devastating for Benetton in the USA and significantly damaged their brand
image in that region. The consequence was a separation. Toscani left Benetton
and the company sought another approach to their international marketing.
Since then, they have been able to re-position themselves within the US market
in a new attempt to build market share.
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This is perhaps the weakest point of the metaphor or analogy with the human
condition. So far, few countries allow the termination of life or euthanasia on
health grounds. Yet the life cycle of a brand may be prematurely terminated. In
cases where a brand cannot be rejuvenated and thus becomes a drain on a
companys resources there may be little alternative but to withdraw it from the
marketplace. For historical and thus perhaps emotional reasons some companies
hang onto a brand, in hopes that the brand will suddenly be resuscitated.
However, this prolongation may do more harm than good for the company
concerned, such as draining resources that would be more effective if invested
into a new brand.
There are cases where companies have clearly failed to disengage themselves
from failing brands, which has, in turn, crippled the company.
Scotland virtually sealed the fate of the once glorious brand. Then came the
Gulf War. Passengers avoided transatlantic flights. Even with its now limited
routes, the Pan Am brand could no longer take the strain. In August 1991 Pan
Am filed for bankruptcy and operations ceased in October.
This was not the final chapter, however, as the brand would be resurrected
twice. In 1996 a new operation was initiated with the objective of providing a
low-cost service between US cities and major Caribbean destinations. However,
a combination of rapid expansion and market difficulties lead to another
bankruptcy in 1998. A second incarnation of the airline occurred that very same
year when the railroad company, Guilford Transportation Industries, acquired
the brand. But the Pan Am operations under Guildford Transportation ceased in
November 2004 only to be transferred to Boston-Marine Airways.
In one more attempt, a Pan Am service was resumed in February 2005. While
the Pan Am brand lives on it is a very different entity than the brand that once
graced the skies.
Conclusion
Organizations must seek to continually monitor the health of the brand in
relation to its changing environments. Life expectancy can be increased through
evolving the brand (innovations and re-positioning). However, organizations
must also recognize when the brand has genuinely reached the end of its life
span. Brands that have a lingering decline do little for the brand or the
organization. The challenge for many organizations is knowing when the brand
can no longer be resuscitated.
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POINTS OF CONSIDERATION
To understand the metaphor of life and death and the theory of survival
by Darwin and its comparison with Brand Life Cycle.
To ponder on the internal ( micro )and external factors ( macro ).
Innovation
Re-positioning
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CASE ANALYSIS
In this case Brand Life Cycle has been compared with the inevitable truth and
working process of human life. Here a comparison has been done between birth
of a new life and the introduction of a new brand. Here a similarity has been
pointed out between the growing of a human being and the growth of a brand.
Here a balance is being shown between the maturity of a human being and of a
powerful brand. Here a relation is been depicted between the death of a human
being and of a declining brand. On the whole in this case analysis is done on the
basis of Darwins theory of survival of the fittest.
Environmental factors
Brands are affected by a combination of internal (micro) and external (macro)
environmental factors, such as:
Micro:
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Macro:
Economic recessions, slumps and rises in raw materials can all have a
significant impact on whether current customers can afford to continue
purchasing certain branded products.
Rejuvenation
The process of rejuvenation can be achieved through two core activities:
innovation and re-positioning of the brand. These are not mutually exclusive
activities and can often be seen operating simultaneously.
Innovation
This means it is not necessarily important to radically enhanced changes in a
hurry. Innovations can be small incremental steps in the development process of
a product. Consider, for example, minor on-going improvements to a product or
service.
Brands are adapted through both minor and major innovative refinements, and
in some cases, while the brand name has remained the same the actual product
or service has evolved into something radically different. This is very true of
corporate brands that have become the umbrella for a collection of
major/minor sub-brands.
Re-positioning
This can be defined in two integrated ways:
1. The physical re-positioning of the brand in relation to current and
potential future competitors; which means the re-positioning process in
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which a brand is refined and given an edge so that it can perform better
than its current and potential future competitors.
2. The re-positioning of the brand in the mind of the consumer. It is the
consumer that has to be persuaded that the brand is right for them. It
means that we have to attack the mindset of the customer and create a
prominent impact on them. This means we have to consider the
CUSTOMER BASED BRAND EQUITY theory to do this. This means
we have to create a space for our product not only on the basis of price,
but also differentiate it with other products and create a distinct want for
our product which can only be satisfied by our product.
Brand heart attack or catastrophic failure:
By the above statement a meaning can be derived that as a human being suffers
a heart attack. Sometimes they die, sometimes they survive. Same wise brands
also face such kind of situations where either a brand collapses and does not
recover or braves the situation and comes back stronger ready for the future.
Increasing life expectancy
Brands come and go, some more quickly than others. While companies may
seek to rejuvenate and/or adapt their brands there will arise circumstances where
the brand no longer matches the expectations of either the company or the
market. In such cases the company may decide to either sell the brand to another
company, with the sale including all associated resources, such as employees
and plant.
In cases where a brand cannot be rejuvenated and thus becomes a drain on a
company's resources there may be little alternative but to withdraw it from the
marketplace. For historical and thus perhaps emotional reasons some companies
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hang onto a brand, in hopes that it will suddenly be resuscitated. However, this
persistence may do more harm than good for the company concerned.
Organizations must seek to continually monitor the health of the brand in
relation to its changing environments. Life expectancy can be increased through
evolving the brand (innovations and re-positioning). However, organizations
must also recognize when the brand has genuinely reached the end of its life
span. Brands that have a lingering decline do little for the brand or the company.
The challenge for many organizations is knowing when the brand can no longer
be resuscitated.
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Procter & Gamble is not particularly well known among consumers, while its
brandsAriel, Tide, Pampers, Always, Pantene are all very well known brands
within their respective categories. Another type of brand is an Ingredient
Brand, which is actually a co-brand since it co-exists together with others who
might be responsible for physically manufacturing products or delivering of the
service.
Ingredient Brands usually serve the purpose of providing additional trust or
confidence and often signify the use of an exclusive or proprietary technology.
Examples include Lycra, Polartec, Gortex, Windows, Intel, Dolby and Oracle
etc. This is the exact opposite of product brands. By contrast, the technology
products communicate at the level of the company whose credibility and
expertise have turned its name into a brand is stressed. The most successful
case is likely Intel. If you buy an IBM computer today (already a powerful
brand name), you will find two other co-brands: Windows and Intel. Twenty
years ago we would not have envisioned the operation system and chip supplier
would put their brand side by side with IBM. Today, however, they are top
household names.
Ingredient Brands are not new. Only the term is. It existed hundred of years ago
in the form of country brand. Remember all those Made in Germany and
Made in Japan labels, symbolizing quality and sound engineering. The
chemical and pharmaceutical industries have also become skilled in using the
Ingredients Brand. When Du Pont differentiates its elasthane it becomes a
symbol of quality. Without the Lycra label, consumers might believe that this
fabric was a lower quality material. Lycra gave Du Point so much market
power that the whole industry paid premium prices for this material. Du Pont
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actually made Lycra fashionable; how often have you heard of a chemical
company who provides the material that has an impact of fashion trend.
After being extremely successful these brands become cash generating
trademarks. They will then sometimes be moved up one level and become a
Corporate Brand (the brand name becomes the corporation) or a Global
Brand, expanding geographically to become a global dominant leader. These
different stances illustrate the major strategic choices required by each
corporation, namely the optimum level at which a brand should be positioned to
capture and create shareholder value. Companies sometimes can successfully
move brands to different strategic levels and become the overall brand if that
brand is very successful.
Sometimes a brand needs to move from one category and become a brand of
multi-categories. This is particularly common in fast moving consumer goods.
In choosing a branding level you position against future competition to enjoy
the best competitive advantage vis--vis channel partners and consumers. This
is always the key consideration governing the choice of level.
These categorizations are not mutually exclusive. A brand can be both a global
brand and a personality brand (Virgin) or a global brand and an ingredient
brand (Intel). The model suggests that the ultimate goal for all companies is to
have a global brand. A strong global brand is a powerful weapon. These days, it
is an indispensable one, as the economy challenges our faith in brands to
deliver a profit. All studies suggested the most valuable brands are all global.
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POINTS OF CONSIDERATION:
The model provided by IDRIS MONTEE enables companies to look at
their corporate strategies, portfolio of brands and products in a
meaningful way.
His model explains the relation between the Brand Evolution and the
Brand Power.
His model consists of 4 different stages which are further divided into :
I.
product brand
II.
service brand
III.
category brand
IV.
personality brand
V.
experience brand
VI.
ingredient brand
VII.
corporate brand
VIII.
global brand
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CASE ANALYSIS:
This model of Idris Montee enables companies to look at their corporate
strategies, portfolio of brands and products in a meaningful way, because it
helps them understand the issues of branding in a much better way and where to
place their brand and in which category.
His model explains the relation between BRAND EVOLUTION and BRAND
POWER. In his model it has been depicted that as there is aggradation in the
brand category process the power of the brand goes up; likewise the evolution
of the brand also takes place.
Categories of the brand are:
Product brand : it is the starting stage of a brand.
Service brand : transformation from product brand to present stage.
Category brand : its recognition due to brand building effort and market
presence, and has a definite leading market share within a category.
Personality brand : it is defined as a stage where the it becomes a strong
brand where consumers identify it as a brand.
Experience brand : it is a stage where the brand goes beyond the
boundaries of traditional services and product excellence, and also
develops a strong sense of uniqueness which only it has.
Ingredient brand : it is a situation where 2 consecutive brand co-exist
together because of their collaboration a new product is generated.
Corporate brand : it is a stage where the brand goes up one more level to
become a corporation to give the brand an edge.
Global brand : it is this stage where the brand becomes a global and the
whole world becomes its market and it starts diversifying geographically
in all directions.
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http://mootee.typepad.com/innovation_playground/2007/09/understandingt.html
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Adding Value
Most brands are a long way from being worth $21 billion. But all of them are
worth something, and the better the branding efforts the more value a brand can
add to the products and services to which it's attached.
So how does a company go about building a strong brand? Well, let's start at the
top and take Coca-Cola as an example. If you and I each wrote a rational
description of the Coca-Cola brand, we'd probably use different words, but our
statements would be fairly close in meaning. The Coca-Cola brand is so well
established in our minds that we could work backwards from it and come to
essentially the same place.
But in the real world, people don't diagram the meaning behind brands. Instead,
the name or logo instantly brings to their minds a perception built by years of
branding cues. These cues include everything from product design to pricing to
packaging, as well as all of the tools in the marketing communications toolbox,
from advertising to promotions to public relations.
The trick for any long-term branding effort is to focus first not on the cues
themselves but on the benefits they communicate. For Coca-Cola, the primary
rational benefit is refreshment. For Michelin, it's safety. Master marketers take
great pains to understand the context of the consumer purchasing decision, and
then build their core competencies and market positioning around it.
Take Your Positions
Much has been written about positioning since Jack Trout and Al Ries wrote a
book on the topic more than two decades ago (Positioning: The Battle for Your
Mind). In fact, if you read the Amazon (AMZN) description of their original
work, you'll see it's cited by more than 100 other books. But positioning is not
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really a difficult concept: At root, it's simply the rational and emotional benefits
people associate with a brand.
Gatorade (PEP) is the sports thirst-quencher. BlackBerry (RIMM) is a device
that keeps you connected. QuickBooks (INTU) is the accounting software for
non-accountants. The rational side of branding is not that complicated, at least
in theory.
In practice it can be more difficult, primarily because it's easy to confuse true
positioning with a focus on features and attributes.
A couple of months ago I stumbled across an article about the Model T. It's rare
to see one today, of course, but back in the early 20th century, Ford (F) cranked
out 16 million of them. In the Model T's heyday, there was no such thing as
power steering, speedometers, rear-view mirrors, seat belts, radios, heaters, air
conditioners, and not even an automatic starter (imagine hand-cranking your car
today).
Compare that with the last car you bought, which probably came with all of the
above and possibly even an iPod (AAPL) dock, rearview camera, or satellitebased navigation system. New bells and whistles are great, but today's exclusive
attribute is tomorrow's standard feature.
Keeping Focus
BMW (worth $21 billionremember?) understands this. As the company
introduces new models, they inevitably include the latest and greatest features.
But BMW doesn't attempt to build its positioning around run-flat tires or sideimpact airbags. Instead, the company understands that in the automotive market
there will always be a segment of buyers for whom the way a car handles and
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feels (and makes its driver feel) is the most important consideration.
Performance is the benefit BMW has owned for decades, and the brand has kept
its focus there even as the definition of performance has evolved.
As you evaluate your own brand's positioning, don't focus on features that will
soon be co-opted by your competitors. Consider the primary benefits your brand
provides and what they really add up to. Then examine the extent to which your
positioning passes six key tests: relevance, simplicity, differentiation,
believability, credibility, and defensibility (BusinessWeek.com 09/14/07).
If it's strong, your brand is likely to provide value for the long term as it guides
not only your marketing efforts but decisions ranging from research and
development to acquisitions. If not, you may need to reorient your operations to
make it work or find a different hook on which to base your positioning. Either
way, getting positioning right is the first step in creating a brand worth billions.
Steve McKee is president of McKee Wallwork Cleveland Advertising, an
agency that specializes in businesses with ad budgets under $10 million. He
writes his sales and marketing column every month.
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POINTS OF CONSIDERATION
Huge investment of time and money spending is done on their brands to
make their products worth more in the marketplace. And they're right.
This is known as branding , because of which a normal consumer is ready
to shell out more money.
Better the branding efforts the more value a brand can add to the products
and services to which it's attached.
A brand is so well established in our minds that we could work
backwards from it and come to essentially the same place.
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CASE ANALYSIS
According to the report, Huge investment of time and money spending is done
on their brands to make their products worth more in the marketplace. This is
known as branding , because of which a normal consumer is ready to shell out
more money.
Therefore better the branding process , the better value and services are added to
the brand and this makes it more recognizable in the market.
The more a brand grows the more impact it creates on our inception and more
are we related to it whether directly or indirectly. We [can analysis the brand
whichever way we want and the result will be same.
The name or logo instantly brings to our minds a perception built by the years
of branding cues. These cues include everything from product design to pricing
to packaging, as well as all of the tools in the marketing communications
toolbox, from advertising to promotions to public relations. Any long-term
branding effort is to focus first not on the cues themselves but on the benefits
they communicate. The primary rational benefit for any brand is Achievement.
For Michelin, it's safety.
Whenever we again start working on the branding of a brand we should
consider the primary benefits of the brand provides and what it really add up to.
Then examine the extent to which our positioning passes six key tests:
relevance, simplicity, differentiation, believability, credibility, and defensibility.
http://www.businessweek.com/smallbiz/content/oct2007/sb20
071012_740637_page_2.htm
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CONCLUSION
After doing the project, I realised that brand is much bigger than its
spelling and its life cycle is very much complicated and a lot of
business and corporate dealings depend upon the credibility of a
brand. Through this project I came to know like any human being
even a brand has a life but with a difference cause its life can be
extended. I am really thankful to my sir Dr. Shibashish Chakraborty
to give me the task to do it and also learn from it.
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