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BRAND STRATEGY

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Title: BRAND STRATEGY


1
BRAND STRATEGY
2
Definitions of Brand Strategy
  • A plan for the systematic development of a brand
    to enable it to meet its agreed objectives.
  • The strategy should be rooted in the brand's
    vision and driven by the principles of
    differentiation and sustained consumer appeal.
  • The true brand is the sum total of the
    perceptions of all the constituencies which
    contribute to revenues and profits.

3
BRAND VISION
  • A clean articulation of strategic, financial
    brand goals that management has created for the
    brand.
  • A first step to strategic success as to where the
    brand can cannot go.
  • Provides a vision that forces management to
    articulate what they want the brand to do for
    the organization over the next five years ,
    relative to brand value ,revenue profit
    contributions.

4
BRANDS POSITIONING IS
  • The place in the consumers mind that you want
    your brand to own the benefit you want them to
    think of when they think of your brand.

5
  • A strong position means the brand has a unique ,
    credible , sustainable , valued place in the
    customers mind.
  • Good positioning gives you the direction required
    to focus the organization focused your
    strategic moves.
  • A good positioning is a single idea to be
    communicated to your customers.
  • It revolves around a benefit that helps your
    product or service stand apart from the
    competition.

6
  • Disney- family fun entertainment
  • Wall Mart low price good value
  • McDonalds food fun
  • Apple innovation
  • Google simplicity
  • Toyota -- reliability

7
  • A well crafted brand positioning has three
    primary components
  • A definition of the target market you wish to
    pursue
  • A definition of business your company is in or
    the industry or category it competes in.
  • A statement of your point of difference key
    benefits.

8
Effective Brand Strategy
  • Branding in essence is effective brand strategy.
    It's the application of sound research into brand
    communications, analytical techniques, and the
    development of an improved strategy for your
    brand.
  • Strategy is all about brand positioning. We'll
    identify the key elements of your corporate or
    product brand and develop a branding action plan
    to implement it.

9
Types of branding strategy
  • Normally, a company can opt for one or more of
    the following strategies
  • Product branding
  • Product-line branding
  • Product-range branding
  • Corporate branding

10
PRODUCT BRANDING STRATEGY
  • This type of brand give each individual product
    an exclusive brand name and the company name
    being ignored
  • It allows the brand to have unique values,
    personality, identity and positioning.
  • By doing so, it implies that every new product
    the company brings on to the market is a new
    brand and can be positioned precisely for a
    specific market segment

11
  • It has the advantage of making it easier for the
    company to evaluate brand performance and worth
    and allows better resource-allocation decisions.
  • The major drawbacks are product cannibalization
    if consumers cannot differentiate clearly among
    product brands and involves higher advertising
    and promotion budget and is totally
    self-supporting with little or not brand name
    assistance or assurance from the parent.

12
PRODUCT-LINE BRANDING STRATEGY
  • Here, the products appear under the same brand
    name and possess the same basic identity but with
    slightly different competencies for example
    Follow Me line of hair shampoos. Here the brand
    line comes under the hair-care category but the
    different line extensions cover complementary
    applications of essentially the same product

13
  • Advantages therefore are economies of scale in
    advertising and promotion and each new line
    extension strengthens the position of the brand
    and therefore its image. The line helps defend
    the category from predatory attack. Hence,
    individual product brands can move across to line
    brands as companies find ways of extending the
    brand to different consumer groups or segments.

14
PRODUCT- RANGE BRANDING STRATEGY
  • A number of products or services in a broad
    category are grouped together under one brand
    name and promoted with one basic identity.
  • Compared to product-line branding, product-range
    branded products carry out the basically the same
    functions but at different performance levels
    like various cars in the Mercedes S, E, C and A
    class and Intels Pentium and Celeron ranges of
    microprocessors.
  • Therefore the advantage here is that a single
    brand name allows some economies of scale in
    advertising and promotion as the products tend to
    carry the same overall brand values and
    positioning.

15
CORPORATE BRANDING STRATEGY
  • Two approaches in the Corporate brand exercises
  • First is to promote its name as the main brand
    name sometimes referred to as monolithic or
    umbrella branding.
  • Here the product is not branded individually or
    as strongly as the corporate brand. Companies
    using this approach IBM, Virgin, Sony.
  • The basic principle is that the companies
    believed that the company name is the life of an
    enterprise.

16
  • The second approach which is becoming popular
    whereby the product brand name has a high profile
    but is endorsed by the parent company which gives
    the product a stamp of quality and credibility.
  • Here the product brand is self supporting in
    practically every respect but retains the
    assurance of the corporate brand endorsement.
  • This type of corporate branding is also called
    house or endorsement branding. Nestle uses this
    approach to protect and guarantee the performance
    of their multitude products.

17
  • Also suitable for companies engaged in service
    industries as their products are more intangible
    in nature. When consumers cannot see the
    products, the company name helps to give them an
    assurance of quality, heritage and authenticity

18
What is a brand?
  • A brand is a name, term, sign, symbol, design or
    a combination of the above to identify the goods
    or service of a seller and differentiate it from
    the rest of the competitors

19
A brand comprises of
  • Tangible attributes
  • Product
  • Packaging
  • Labeling
  • Attributes
  • Functional benefits
  • Intangible attributes
  • Quality
  • Emotional benefits
  • Values
  • Culture
  • Image

20
Brand Identity
  • It is the marketers promise to give a set of
    features, benefits and services consistently

21
Brand Building
  • Involves all the activities that are necessary to
    nurture a brand into a healthy cash flow stream
    after launch

22
What kind of activities?
  • Eg.
  • Product development
  • Packaging
  • Advertising
  • Promotion
  • Sales and distribution

23
Brand Equity
  • When a commodity becomes a brand, it is said to
    have equity
  • What is brand equity?
  • The premium it can command in the market
  • Difference between the perceived value and the
    intrinsic value

24
What happens when equity increases?
Commodity
Brand
Power Brands
Presence

Personality
25
What happens when brands have high equity?
  • The company can have more leverage with the trade
  • The company can charge a premium on their product
  • The company can have more brand extensions
  • The company can have some defense against price
    competition

26
Brand Loyalty Pyramid
Committed buyer
111
Likes the brand. Considers it a friend
Satisfied buyer. Would incur costs to switch
Satisfied buyer/no reason to change
Switchers/Price sensitive
27
How does one build brands?
  • Distinguishing it from others value proposition
  • Brand promise must match brand delivery

28
The value proposition
  • Broad positioning
  • Specific positioning
  • Value positioning

29
Creating the brand
  • Choosing a brand name
  • Develop rich associations and promises
  • Managing customer brand contact to meet and
    exceed expectations

30
Considerations in choosing a brand name
  • What does the brand name mean?
  • What associations / performance / expectations
    does it evoke ?
  • What degree of preference does it create?

31
A brand name should indicate
  • Product benefits
  • Product quality
  • Names easy to remember, recognize, pronounce
  • Product category
  • Distinctiveness
  • Should not indicate poor meanings in other
    markets or languages

32
Brand Associations
  • owned word
  • Slogans
  • Colours
  • Symbols and logos

33
Brand Status
E S T E E M


Step up advertising
Cash Cow.Need to Sustain brand building
activities
Troubled brand Product upgradation
required
New Product Or Product should be phased
out
FAMILIARITY
34
Brand Ambassadors
  • Giving a face and personality to the brand that
    is expected to be rubbed off from the brand
    ambassador

35
Brand Vitality
  • Differentiation in consumers need
  • Differentiation relevant to consumers need
  • Brand Pitfalls
  • Brand experience must match brand image
  • Calls for managing every brand contact
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