Branding Strategy - Jaipur Rugs.ppt

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Assessment Solution for Jaipur Rugs

Transcript of Branding Strategy - Jaipur Rugs.ppt

Sagar Agarwal MBA, IIT Kanpur

Contents About Jaipur Rugs Present Branding Issues Work Plan: Branding Strategy Phase 1 Analyze Phase 2 Plan Phase 3 Deploy & ReviewJaipur Rugs: Strategy Work Plan 2013-14 2

Present Issues The Mission and Vision statement: Seems driven by Jaipur Rugs Foundation Lacks any mention of core competencies Low Customer intimacy No channel for end user feedback / review of products Can the users tailor products as per their needs ? Lack of Brand Awareness, leads to lower margins Creating a sense of exclusivity which leads to market pull Creating a exclusive ethnic Indian brand for the west !

Low brand penetration Lack of customized Branding Strategy for different export markets Consumer Behaviour and buying patterns differs across geographical regions A marketing strategy for Americas may not fit European Customers !Jaipur Rugs: Strategy Work Plan 2013-14 3

Phase 1 - Analysis Analyze Corporate Identity - Stakeholders view about the company

and products

Interaction with Customers and Employees Market Surveys and Customer engagement Get review about products through online channels

Facebook page Companys online sales portal

Analyze the branding strategy of key competitors How do customers perceive competitors brand (Perceptual Maps) Branding and communication channels deployed by competitors Analyze the YoY sales and business data for all the regions Analyze in which markets are growing in terms of sales and customer awareness Analyze in which markets we need improvement in sales, marketing, and branding Quantitative Assessment of current brand equityJaipur Rugs: Strategy Work Plan 2013-14 4

Phase 2 - Positioning Converge on the Positioning for Jaipur Rugs, Based on,- Results of Phase 1 - Resource mapping.

Consolidate Positioning, get corporate brand clear within

internal organization, a priori. Internal seminars and workshops to introduce employees

to new branding and positioning strategy Regular mailers to reinforce the message passed in step 1.Jaipur Rugs: Strategy Work Plan 2013-14 5

Phase 2 Action Plan Creating a prominent brand logo which is prominently identified across the Globe Leverage the authentic Indian touch of products Create and ship brochures along with product, depicting the story behind making of product This will create stronger brand association and increase the exclusivity feature Tie up with leading home dcor companies which endorse the brand Jaipur This can be done on regional basis and can be promoted through online portal. Will create a strong perception of quality among end users

Product Categorization Exclusive Products On which company can charge premium Ex Hand Knotted Silk products The Catalog information would be synonymous with exclusive brand image Regular or value for money Products Ex Durries Promotion through Trade Fairs & Art Galleries Brand Associations- Celebrity endorsement [Long Term]

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Phase 2 - Customer Engagement Inform existing & prospective customers about new

product launches and innovations Direct mailers Facebook pages Print Brochures

Selected Magazine Columns.

Collect feedback on the recent purchases through web page Custom Design Option Allow users to create their own design online Jaipur rugs will subsequently ship them customized final product

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Phase 3 - Deploy and Review Deploy the new branding strategy in select regions Evaluate region wise performance of the branding strategy Based on the customer feedback do deployment in other geographical locations Analyze the impact through metrics such as ROM

(Return on marketing) = Increase in sales/ (Branding + Marketing ) Expense Feedback the leanings of the outcomes into the next stageJaipur Rugs: Strategy Work Plan 2013-14 8

Future Brand Extensions Long Term StrategyDepending upon the Positioning [derived from core competency] for Jaipur Rugs, some example for future brand extensions are presented. Interior Designing Services leveraging our design and innovation. Product List Extension to enhancing the cultural richness of our

offerings.

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