• Effective Segmentation Criteria:

• Measurable: size, purchasing power and characteristics of the segments 10-

can be measured.
12
• Substantial: segments are large and profitable enough to serve.

• Accessible: segments can be effectively reached and served.

• Differentiable: segments are conceptually distinguishable and respond

differently

• Actionable: effective programs can be formulated for attracting and

serving the segments.
• https://www.ihcltata.com/our-brands/
• https://www.slideserve.com/erek/forecasting-demand-for-
services
Concepts in Branding
• Brand Identity

• Brand Equity
• Brand Loyalty
• Brand awareness
• Brand’s perceived quality
• Brand association
• Proprietary assets

• Branding Policies
• Corporate branding
• Family Branding
• Individual brands
Brand Development for Existing Services

• Brand Extension
• Multibranding
• Cannibalization
• Cobranding
• Private and generic brands
Word-Of-Mouth (WOM)

• Is the conveyance of information about a company or product from

person to person, often naturally during a conversation rather
than through official promotional materials.

• Starting point
• Understand your customer
• Provide quality service
• Connect with your customers
 Strategies for WOM
• Encourage customers to leave reviews

• Offer incentives to customers who refer others

• Create engaging social media content for followers that causes an emotional response

• Make it easy for users to share their experiences on social media by maintaining a social
media presence and creating a unique tag for images and posts

• Provide products to influential social media users to review for their audience

• Treat customers well and work to provide a positive experience during every interaction

• Understand the customer base and tailor your social media experience and strategies to
them

• Develop and convey unique value as a brand.