ssd-bmg-l1 branding basics
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Marketing Basics : ReviewMarketing Basics : Review
Needs
Markets Products
Market Opportunities
Identifying your Market
Buyer Behaviour
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Needs lead to a MarketNeeds lead to a Market
Consumers have needs
Goods & Services which fulfill some function
Have utility for the consumer
Needs backed by willingness to pay = Demand
Sum total of all demand = Market
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Basic definition of a MarketBasic definition of a Market
A market is a group of potential customers withsimilar needs , who are willing to exchange
something of value ( usually money ) , with sellers
offering various ways of meeting those needs.
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Market Offerings (products) can be :Market Offerings (products) can be :
Goods Pen / OHP
Services Coaching / Railway
Information Encyclopedias / YPs / India Today
Ideas Better Living thru Art of Living Events Rock Show / Trade Show
Experiences Adventure Sports / EsselWorld
Property Real or Financial
Places Tourists / Businesses / New Colonization
People Movie Stars / Musicians / Artistes
Organizations Brand Building
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Determining your MarketDetermining your Market
What : Type of Offering : Product / Service Whom For : Type of Customer
What For : Type of Needs (of the customer)
Where : Geographic Availability
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Summary of Buyer BehaviourSummary of Buyer Behaviour
Q. What do customers buy ?
A. Customers buy solutions to their problem.
Q. Do customers buy on the basis of price ?
A. No ! Customers buy Value ( for money ).
Q. What does value mean ?A. Sum Total of all benefits being received
as perceived by that customer.
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Broad Learning ObjectivesBroad Learning Objectives
Understanding Brands : What / Why / When
Process of Creation & Launching
Process of Managing & Extending Brands
Globalization of Brands
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Branding BasicsBranding Basics
Originally : Brand was a mark burnt onto
skin by using a hot iron . !!
Modern Branding has come a long way .
Some connectivity with that process remains .
Mark = Recall
Skin = Mind
Hot iron = Marketing & Positioning Strategies .
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The need for a brand .The need for a brand .
High degree of competition / me-too products
Some kind of uniqueness is required Desperate need for differentiation
Branding makes you unique
Branding is => Differentiation Code => Human DNA
Personal DNA is unique , so is Branding !
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Common Ways of Differentiating .Common Ways of Differentiating .
Thru Almost anything with value / appeal
Product design / communication / selling /
/ Distribution / service / suppliers / HRM , etc.
eg Virgin Atlantic Massage-on-Board - Facility
eg Nike Just do it Attitudeeg HLL Best distribution network Reach => Ease
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Excz 1 : Brand Related RecallExcz 1 : Brand Related Recall
Visualize / Recall the following Brands
Note what exactly do you recall
Could be Visual / Audio / Attribute / Belief
Dettol / Dove
Hero Honda / Kinetic Honda ICICI Bank / SBI
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Brand DefinedBrand Defined
Use of a name , term , symbol , design or
a combination of all or any of these
to clearly identify a product / business
and thereby differentiate it in the market.
Brands , of course , are more than that !
Essentially , a set of promises explicitly or
implicitly being made by the firm. Brands over a period , become a set of
associations in the mind of the consumer.
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What really is Branding ?What really is Branding ?
Process of acquiring enduring emotional
association of a consumer with a
particular company or product & its
lasting impression.
Objective is to identify , create & then
exploit , any sustainable competitive
advantage.
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The Ultimate Brand .AnalogyThe Ultimate Brand .Analogy
The Brand most of us are proud to possess
The Brand most of us may never give up.
The Brand, to many of us ,worth dying for
YOUR FAMILY
YOUR NATION
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Branding DefinedBranding Defined
Branding is a marketing based business
strategy & philosophy , supporting the
very reason for existence(raison detre)
of the product , service or enterprise ,
with a clear focus on consistent differentiation
in the marketplace , thereby building long-term
value in the minds of consumers.
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What should branding deliver?What should branding deliver?
Branding has to be a source of Value
For the Customer a w a for the Enterprise
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What should branding deliver?What should branding deliver?
For the Customer , some simple benefits :
Ease of Identification
Ease of Purchasing
Consistent Quality
Sense of Satisfaction
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What should branding deliver?What should branding deliver?
For the Company , several benefits :
Unique Identity for the Co / Product
Core behind the Product & Promotion Mix
Differentiation for the Product /s
Pull for the Product /s
Entry barrier for Competition
Long Term Relationship with the Consumer
Resultant Annuity Stream
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Branding Successes C SBranding Successes C S -- 11
Did not exist as a Brand till 1990
Yet , dominated its product-category
No tradition of branding in the industry Crushed powerful rivals regularly
Does not always make the Best-in-Class product
Yet , Charges 30%- 40% more than rivals very often
Consumers insist on it , Customers fear it !
INTEL
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Consumers & BrandsConsumers & Brands The InterconnectThe Interconnect
Consumers have varying levels of Brand Familiarity
Level of BF is a key influencer in consumer choices
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5 Levels of Brand Familiarity5 Levels of Brand Familiarity
Brand Rejection : Buying postponed till image changeover.
Brand Non-Recogn : Final Consumers?Middlemen do: School NBs
Brand Recogn : Consumers ability to recall : Unaided / Aided
Brand Preference : Target Consumer chooses over competg brand
Brand Insistence : Existing Customers insist on having it.
Reaching L5 is every brand managers dream.
Is Possible only with enduring relationships.
(Which is what brands really attempt)