Professional Documents
Culture Documents
21st Century Branding : Importance of Being Different Consumer Driven Marketing Cycle Customer Acceptance Cycle Image Building Process : Brand Audit, Scorecard Creating a Connection Traingle Evaluating the Robustness of Positioning
the
Satisficing - purchasing a product that is good enough even if its not the best buy anywhere in the market Optimizing (finding the best buy in the market) requires too much time
Did you satisfice or optimize your spousal purchase? How does satisficing relate to brands?
[Brands] serve as handy identification tags, enabling consumers to save significant amounts of time and energy in making choices.
4
Being different is often more important than being better Operational effectiveness (being better) is usually not sufficient for long-term profitability and sustainable competitive advantage
A brand can outperform rivals only if it can establish a difference that it can preserve
21st Century Branding : Importance of Being Different Consumer Driven Marketing Cycle Customer Acceptance Cycle Image Building Process : Brand Audit, Scorecard Creating a Connection Traingle Evaluating the Robustness of Positioning
Actions
Execute the Tactical Plan
Strategies
Choose a Winning Positioning
Tactics
21st Century Branding : Importance of Being Different Consumer Driven Marketing Cycle Customer Acceptance Cycle Image Building Process : Brand Audit, Scorecard Creating a Connection Traingle Evaluating the Robustness of Positioning
Resonance
Judgements
Feelings
3 Brand Response (WHAT About You?)
Performance
Brand Characteristics & Secondary Features Product Reliability, Durability & Serviceability Service Effectiveness, Efficiency & Empathy Style and Design; Price
User Profiles Purchase and Usage Situations Personality & Values History, Heritage, & Experiences
Imagery
2 Brand Meaning (WHAT Are You?)
Salience
21st Century Branding : Importance of Being Different Consumer Driven Marketing Cycle Customer Acceptance Cycle Image Building Process : Brand Audit, Scorecard Creating a Connection Traingle Evaluating the Robustness of Positioning
Brand Audit
A
good brand audit gives a definite answer about six interrelated equities
Product: Product performance supports the brand? Image: Image is strong and engaging? Customer:Strength of customer franchise? Channel: Leverage in channel environment? Visual : Clear,differentiating presence? Goodwill: Endorsed by influencers in the communities in which it lives?
Product Equity Presents a clear, consistent & differentiating presence. Performs better across all segments
Visual Equity Poor visual equity,in a market full of spurious products Brand does not present a clear and differentiating presence
Channel Equity High affinity and relevance to channel Not well leveraged in channel with issues in location awareness, relationship management, channel conflict & brand display
Goodwill Equity The brand has not made an attempt to seek endorsements from influencers or be involved in the communities in which it lives Residual goodwill of Tata name
21st Century Branding : Importance of Being Different Consumer Driven Marketing Cycle Customer Acceptance Cycle Image Building Process : Brand Audit, Scorecard Creating a Connection Triangle Evaluating the Robustness of Positioning
Connection Triangle
Product Benefit
What I like it
Consumer UHT
Why I value it
Brand
Why I trust it
Connection Triangle:Example
Product Benefit
Quality adhesive
Brand
A bond that will not break
21st Century Branding : Importance of Being Different Consumer Driven Marketing Cycle Customer Acceptance Cycle Image Building Process : Brand Audit, Scorecard Creating a Connection Traingle Evaluating the Robustness of Positioning
that only Tata can deliver No other brand owns the platform
History/experience of delivery
Needs
strong relationship management Needs of industrial segments unlikely to change Needs a sound quality control Technology an entry barrier for competition
Enhances