Module marketing 1.1
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Transcript of Module marketing 1.1
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Marketing
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• Why is it easy to identify these logos
even when they
are incorrect?
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• Why would you purchase
Adidas/Nike running shoes
over Bata?
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• Why do people ask for a
‘Xerox’ when they want a
photocopy?
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MARKETING:
defined
Fulfilling a need/want or solving a
problem by creating products
& services for the target
audience AND delivering it in a
manner that is relevant and
accessible….
In other words
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Successful
Marketing
Customer
Shopper
Consumer
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Marketing: Work Overview
IDEAS Screening & Mix
Development Launch
Consolidation & Growth
Evolution &
Diversification
Innovation: Creating New Brands
Managing Existing Brands
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Understanding Consumer, Shopper,
Customer & Market/Environment is
fundamental to successful marketing
roles because:-
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•It provides insight into consumer needs,
lifestyles and attitudes, to help discover what
they want and how to talk to them. Key to
successful innovation & growing/diversifying
brands.
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•It provides an in-depth knowledge of the
marketplace and the shoppers within it. Any
marketing strategy / activity is more likely to be
successful, if it is based on reality of how things
really are, and not on assumptions.
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•It provides feedback on how consumers &
shoppers react to our new marketing initiatives.
This allows us to refine and fully optimise them
before they are launched/re launched into the
marketplace.
This greatly increases the chances of success.
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Innovation: Creating New Brands
Innovation Funnel
Idea Phase Concept
Screening Mix Devt &
Testing Capability
Assessment Launch
Opportunity Identification
On average 2 out of 10 innovations succeed i.e. only
20% - Innovation requires patience and
perseverance!!
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Idea Phase
Opportunity Identification
Opportunity Identification:
• Utilize and Correlate different data points to arrive
at areas that show promise for growth
•Broad Spaces/Areas are identified at this stage.
Idea Generation:
• Generating broad product ideas based on the
areas of opportunity identified
• A mass of ideas are generated –
NO elimination/sorting is done at this stage
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>> Qualitative Exploration, understanding
rather than statistical
precision. Small samples;
specialised interviewers to
analyse consumer responses.
>> Quantitative About facts & figures; large sample –
representative of given population, to
Enable statistical analysis. Indicates
consumer behaviour at overall level.
• Open ended focus
groups
• Holistic Consumer
Immersion
•Habits & Attitudes
•Segmentation
Studies
•Preference
Mapping Surveys
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• Databases (AC Neilsen,
Euromonitor, etc.)
• Trend Analysis
• Online Research, Blogs
• Internal Data
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•Past Failures
•Experienced Members
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ON THE GO PROJECTION MARKET
• Mini/Pocket Projectors
• Projector Phones
MID TIER FITNESS MARKET
• Cheap Gym Equipment
• Fitness Drinks & Supplements
FOREIGN EDUCATION MARKET
• Edu Consultants
• Cheap Student Loans
Examples:-
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Concept Screening
Opportunity Areas & Broad Ideas
•CONCEPT: defined
• Simple, understandable and appealing
renditions of your ‘broad ideas’ for your target
audience
• Conveys the essence and salient points that
help consumers evaluate your idea
• A tool that helps to assess consumer interest in
the particular idea and whether it deserves to be
developed further or junked
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Concept Screening
Opportunity Areas & Broad Ideas
•CONCEPT: defined
• Simple, understandable and appealing
renditions of your ‘broad ideas’ for your target
audience
• Conveys the essence and salient points that
help consumers evaluate your idea
• A tool that helps to assess consumer interest in
the particular idea and whether it deserves to be
developed further or junked
Initial
Concept Development
Qualitative Recycling
with Consumers
Fine-tuning preferred concepts & Conducting a Concept Test
Winning Consumer Concept
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Mix Devt & Testing
Consumer
Validated
Concept
Creating the Marketing Mix
• Formally these comprise the Product, Price,
Place and Promotion .
• These defines exactly how and in what
manner your brand will interact with the
Customer, Shopper and Consumer .
Product Price Place Promotion
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Mix Devt & Testing
Consumer
Validated
Concept
Creating the Marketing Mix
• Formally these comprise the Product, Price,
Place and Promotion .
• These defines exactly how and in what
manner your brand will interact with the
Customer, Shopper and Consumer .
Product Price Place Promotion
Tangible good or intangible service. Includes the core product attributes, the proposition, how it will be
differentiated in a burgeoning market and its Packaging
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Mix Devt & Testing
Consumer
Validated
Concept
Creating the Marketing Mix
• Formally these comprise the Product, Price,
Place and Promotion .
• These defines exactly how and in what
manner your brand will interact with the
Customer, Shopper and Consumer .
Product Price Place Promotion
The amount that a consumer pays for the product. Price is affected by competition/substitutes, market dynamics,
target audience, etc. A strong brand can charge a Premium!
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Mix Devt & Testing
Consumer
Validated
Concept
Creating the Marketing Mix
• Formally these comprise the Product, Price,
Place and Promotion .
• These defines exactly how and in what
manner your brand will interact with the
Customer, Shopper and Consumer .
Product Price Place Promotion
Location (Distribution Channels) through which the product is sold. It can be physical (general trade or modern
trade stores) or virtual
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Mix Devt & Testing
Consumer
Validated
Concept
Creating the Marketing Mix
• Formally these comprise the Product, Price,
Place and Promotion .
• These defines exactly how and in what
manner your brand will interact with the
Customer, Shopper and Consumer .
Product Price Place Promotion
Advertising: Paid & Unpaid communication to spread awareness, drive trial for a product (TV, Radio, PR, Internet, etc.)
Promotion: Sales promos, schemes aimed at lubricating Trade
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•Issue detailed product brief to technical/R&D team including product attributes, competition benchmarks, cost details and timelines
•Develop initial prototypes
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•Recycle/Perform iterations after (qualitative) consumer feedback
•Test product in blind (unbranded) form vs. competition benchmark to see if the core offering is at least at parity (preferably better)
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•Create packaging and form that the product will be accessible to consumers in – keep in mind their needs, usage patterns, environmental concerns, etc. A well designed pack can attract/detract shoppers in a crowded store!!
•Test/Recycle and fine-tune
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•Test the product in branded form with the concept vs. competition – Acid test of success. See if product delivers a) vs. the expectations set by the concept and b) vs. competition
• A parity/inferior product in blind testing can often significantly improve/worsen in branded testing depending on perceived brand strength
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A well designed offering will
engage more than one sense in
a compelling manner.
Example:
•iPhone: Visually appealing
design (easily recognizable)
• Touch-friendly/intuitive usage
• Signature
ringtones/sounds/alerts
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A strong and well liked pack can
be a HUGE asset.
• Tropicana introduced its new pack in Jan, 09 as part of a $35
million ad campaign.
• Sales fell 20% in <2 months
forcing it to go back to the
classic design!
P.S – the product was unchanged
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How much someone needs to pay to buy your product/service. Setting a price depends on the following:-
1) Competition & Market Dynamics: How much others are charging can influence your price specially where close substitutes are available
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How much someone needs to pay to buy your product/service. Setting a price depends on the following:-
2) Internal Considerations: Do you have other brands in the portfolio that could be affected? (Eg. Would Cadbury price Silk and regular dairy milk the same??). Cost of production is obviously a key component here.
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How much someone needs to pay to buy your product/service. Setting a price depends on the following:-
3) Brand Strength: How much people are willing to pay for you given your concept and product. Loyalty/strength of existing brand (iPad: would it be as successful if Onida launched instead of Apple??)
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Head (example) MRP (Rs.)
Consumer Price (MRP) 150
Less: Trade Margin 15
Trade Price 135
Less: Distributor Margin 10
Gross Sales Price 115
Less: Taxes 23
Net Sales Price/ Turnover 92
Less: Costs (direct+indirect) 64.4
Profit 27.6
The final Price
is very different
from the
amount a co.
realizes!
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Pricing Strategy Definition
Penetration pricing Low initial price to gain penetration/trial, sales and market share. Post that price may
be increased
Skimming pricing Initial high price and gradual reduction to make the product available to a wider
market. Skim profits of the market layer by layer.
Competition pricing Setting a price in comparison with competitors- parity, x% lower or higher.
Product Line Pricing Pricing different product variants within the same product range at different prices for
a range.
Bundle Pricing Bundled group of products at a reduced price.
Psychological pricing Pricing just below a ‘psychological price band’. Eg. Rs.999 or Rs.990 instead of Rs.1000.
Premium pricing High price to reflect the exclusiveness of the product.
Optional pricing Sell optional extras along with the product to maximise its turnover.
Cost Based/Cost Plus Pricing
Cost of production and distribution, plus mark up % for profit
DISCUSS: What is iPods Strategy?? Does it work for them?? Why??
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How your product gets from the factory to the end
shopper/consumer.
Important to reach the right person at the right
place at the right time!
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• Intensive distribution – Majority of resellers stock the 'product‘ .
• Selective distribution – Selected group of ‘suitable’ resellers
stock the product.
• Exclusive distribution - Only specially selected
resellers/authorized dealers (typically
only one per geographical area) sell the ‘product’
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• Selling to a distributor is not a FINAL sale for a manufacturer! If the
product doesn’t
reach the end of the chain (shopper/consumer) it will be stranded
at some link! Does not attract repeat purchases by distributors!
• Important to motivate and recognize distribution and trade partners via incentives,
schemes – ‘marketing’ to customers(trade) as important as
consumers!
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Inventory management & Warehousing:
How inventory will be stored? When it will be released from factory to depots to
markets?
Transportation: Mode of transport of finished goods to ensure they reach on
time and in the right form (one bad
apple really does spoil the rest!!)
Take Back Policies: How are damaged
stocks taken back?
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(What Aamir Khan is GREAT at )
Communicating your brand offering in a manner that delivers
your brand message holistically and in a manner that attracts trial for the brand.
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Attract Consumer Attention
Heighten Interest in the Brand
Create Desire to Purchase
Push them into ACTION: BUY
DIVIDED normally into 2 parts
Advertising
•TV
•Radio •Public Relations
•Internet •Print
Sales Promotion
•Consumer Based
•Sales Force Based
•Trade Based
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So what really is a goooooood piece of communication??
?Discuss?
Insert 2 videos of the fall ads (then show the last
line)
1) Blackberry boys jingle – by vodafone
2) JK Super Cement – the one with the girl dancing
on the beach!
1) Advertising
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ANSWER: Well it depends!! A Good piece of
communication is one which satisfies the objectives behind its creation!
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1) Advertising
Creating Great Communication starts with a great BRIEF
for the Agency
Typical Agency Brief
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Typical Agency Brief
• What is the Objective that
drives this brief ?
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Typical Agency Brief
•Who is the target audience?
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Typical Agency Brief
•What are the intended
channels of choice (TV,
Radio, etc.)?
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Typical Agency Brief
• What does the audience
currently think and do (wrt
the category)?
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Typical Agency Brief
• What do you want them to
think and do in response to
the communication?
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Typical Agency Brief
• What is the most important
point to communicate?
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Typical Agency Brief
• Why should the audience
believe it?
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Typical Agency Brief
• Cost and time constraints
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Once the above points are mutually agreed
with the agency, should they start making
campaigns!
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Creating STELLAR communication:
Agency
Presents Script
Options basis brief
Mutually
Decide 2-3
options
Create
‘Anima tic’
Versions for Testing
Qual Test
with
Consumers
1) Advertising
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Post qual testing, the winning ‘animatics’ are put into
quantitative consumer testing.
A sample result (called PREVIEW) is given below – basis this
a film is shot with improvements:
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MEDIA PLANNING: Communication through the desired
channels is created in line with the overall marketing and media
plan – HOW WHAT WHEN WHERE and WHY each piece of
communication will be deployed to have the desired effect.
Media Channel selection needs to be done carefully to
maximize chances of success with the given budget:
1) Advertising
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1) Advertising
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1) Advertising
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Sales are generated not only by ‘pulling’ or ‘attracting’
consumers towards your brand but by also ‘pushing’ your brand towards them
2) Sales Promotion
Trade Promotions Consumer Promos Sales Team
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Sales are generated not only by ‘pulling’ or ‘attracting’
consumers towards your brand but by also ‘pushing’ your brand towards them
2) Sales Promotion
Trade Promotions Consumer Promos Sales Team
• POP Display Incentive • Trade Allowance
• Contests
• Trade Shows
• Trade Schemes & Discounts
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Sales are generated not only by ‘pulling’ or ‘attracting’
consumers towards your brand but by also ‘pushing’ your brand towards them
2) Sales Promotion
Trade Promotions Consumer Promos Sales Team
• Samples • Coupons
• Freebies
• Refund/Rebate
• Contests • Price Offs
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Sales are generated not only by ‘pulling’ or ‘attracting’
consumers towards your brand but by also ‘pushing’ your brand towards them
2) Sales Promotion
Trade Promotions Consumer Promos Sales Team
• Target • Achievement
• Bonuses
• Contests
• Incentives/Gift
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Mix Devt & Testing
Consumer
Validated
Concept
Marketing Mix: Does it work TOGETHER?????
• Once the 4Ps of the mix are defined in this manner a
company wishes to know how much they can sell/earn if they launch this mix into the market
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Quantitative Volumetric Testing:
• Done to identify the volume potential of a mix
• Often done at varying prices and market conditions to
find the most suited launch plan
• Gives volume and sales forecast of the mix for 2-3 years
together with key measures like trial and repeat rates
• Done by agencies like
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A Brand must have a unique identity, character and consistency
that shines through in all aspects of its being.
Discuss: Why do you recognize a Nike, Adidas or Blackberry product so easily ??
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Brand Identity Document: a definition of what a brand stands for that
helps it stay consistent and true to itself in future
• Brand Vision and Mission
• Target Audience
• Competitive Environment
• Benefits it Provides – Rational & Emotional • Its Values, Personality and Tone of Communication
• Brand Essence and Promise
• Scope of the Brand – Categories/Services/Offerings it can and
cannot go into • Brand Properties – Signature assets that a brand wants to own
(Eg. Vodafone puppy, Nike Swoosh, Nokia hand-shake, etc.)
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Validated
Marketing
Mix
Once a mix is ready a company
needs to gear up to be able to produce it and be ready to
handle all aspects of the mix
Capability Assessment
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Validated
Marketing
Mix
Capability Assessment
Product Readiness
Supply Chain Readiness
Legalities Competitor Assessment
• Shelf Life/Storage
Test Clearance
• Transit/Transport
Test Clearance
•
•Govt. Safety
Clearances
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Validated
Marketing
Mix
Capability Assessment
Product Readiness
Supply Chain Readiness
Legalities Competitor Assessment
• Raw Material
Sourcing
• Factory Trials &
Sample Batch Production
•Distribution Chain
in order
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Validated
Marketing
Mix
Capability Assessment
Product Readiness
Supply Chain Readiness
Legalities Competitor Assessment
• Govt. Licenses, etc
• Trademarks, Copyright Filing
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Validated
Marketing
Mix
Capability Assessment
Product Readiness
Supply Chain Readiness
Legalities Competitor Assessment
• Assessing Competition Readiness to retaliate
• Drawing up contingency plans
for the same
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What the last 12-18 months
was spent waiting for!!
D DAY!!
Launch
• PRE Launch Sales Briefing: ESSENTIAL to brief the front
end/sales/execution teams about ALL aspects of the launch so that they
can execute it FLAWLESSLY
• Important to get them MOTIVATED and EXCITED about this – A
demotivated sales team can KILL the Best of mixes in days!!
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Test Market launch in a restricted
geography to evaluate in market
performance in a given area. Done to
correct chinks before a full launch
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Complete launch (phased or
simultaneous) in all intended geographies and markets
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• The first 12 Months after a launch are CRITICAL to its success.
Important to have first hand feedback on the brand from:
• The Market and Trade
• Consumers & Shoppers
• Early detection can help correct serious/minor flaws that can make
or break a brand
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A successful launch isn’t always so the first time
round – what makes it so is the BELIEF and
RESILIENCE of the brand owner/manager!!
p.s.- Guess which Pizza brand
you wouldn’t be ordering
from if it withdrew after its initial unsuccessful entry
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• Managing one or a set of existing/new brands consumes the maximum amount of a brand manager/marketer’s time.
• A successful launch is just half the battle won
Launch Consolidation &
Growth
Evolution
&
Diversification
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MANAGE YOUR
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OBSESS over Consumer Understanding:
Understand them completely because you will often need to
make judgement calls without referring to research always
• Meet your Consumers OFTEN: Read what they do, visit the
places they visit for leisure, watch the movies they would – get under their skin. Make sure your you understanding is based
on reality and is CURRENT/UP TO DATE
• Watch how shoppers make their category choices.
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INTERNALIZE your Brand:
Know it like the back of your hand
• Know what users, non users think about you – why they
like/love/hate you
• Track every detail about your brand – sales, shares, distribution,
imagery, trends
• Monitor your finances REGULARLY!
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ENVIRONMENT Understanding:
This is constantly changing.
• Visit the markets often – see what trade and competition is
doing
• Keep track of competitive actions, reactions and new
launches
• How can you stand out in an ever increasing clutter of
brands/products?
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Have a good overview of the different data sources for consumer, market and shopper Understanding.
How to interpret it and how to use it in your everyday work.
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Sustainable
Growth
Sales Objectives
Profitability
= f BRAND
STRENGTH ) (
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Keeping all Ps in line with strategy & modifying
as per the environment .
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Giving a brand enough resources to fuel its
growth and expansion
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Portfolio Management to ensure low cannibalization of
internal brands
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Evolving to stay continually relevant with changing
consumer needs
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Well defined 4Ps keep your brand moving smoothly.
But need regular maintenance!!
Purchase frequency
Purchase Size
How much they buy
Penetration
How many people buy
PRODUCT PRICE PLACE PROMOTION
SALES
4Ps: Impact Al key Attributes
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Why Regular Monitoring is essential ??
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PRODUCT PRICE
PLACE PROMOTION
Reducing price, advertising more, following competition is not
always the answer though – what’s important is that you adapt to
stay consistent with your strategy in changing times
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PRICE
PLACE PROMOTION
PRODUCT
•MSG becomes issue in foods –
continued use would’ve reduced
Lays sales
• Plasma to LCD/LED TVs – Could
SONY afford to fall behind??
• 1MP Camera to 5MP in 14 months –
change or lose out
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PRODUCT
PLACE PROMOTION
PRICE
• Raw Material Prices up 45% -
Increase price (ST/LT) or get wiped
out
• DVD prices fall sharply – Can
VCDs afford to be priced the
same?
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PRODUCT PRICE
PROMOTION
PLACE
• Small (Tier 2, 3) towns sharply
increasing luxury car purchases
ahead of larger towns – can BMW
neglect this?
• Rural banking exploding – Private
banks rush to smaller geographies
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PRODUCT PRICE
PLACE
PROMOTION
• HP, Compaq, others offer MASSIVE
discounts during Diwali – if Lenovo
stays out it mite lose up to 25% of its
sales .
• Luxury travel brands: what are the
risks of not advertising on TLC if your
competitor suddenly decides to
sponsor 5 shows on it?
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Planning Success: Annual Brand Marketing Plans
AUDIT ANNUAL
PLAN BRAIN STORM
RESULT
ANALYSIS
QUATERLY
REVIEW LOCK-IN
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Planning Success: Annual Brand Marketing Plans
AUDIT ANNUAL
PLAN BRAIN STORM
RESULT
ANALYSIS
QUATERLY
REVIEW LOCK-IN
1. Take Stock of all Key Brand Metrics over
last year (and before. Evaluate each P. 2. Evaluate Environment Changes
FIND KEY Issues & Opportunities
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Planning Success: Annual Brand Marketing Plans
AUDIT ANNUAL
PLAN BRAIN STORM
RESULT
ANALYSIS
QUATERLY
REVIEW LOCK-IN
ANNUAL PLAN
1. Identify Goals for the brand to achieve
over next year 2. Define key success metrics &
sales/profit/growth objectives Create SMART GOALS basis Audit
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Planning Success: Annual Brand Marketing Plans
AUDIT ANNUAL
PLAN BRAIN STORM
RESULT
ANALYSIS
QUATERLY
REVIEW LOCK-IN
BRAIN STORM
1. Think of multiple ways to achieve
these goals – be innovative! 2. Cut down and hone into the ideas
that the team agrees on
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Planning Success: Annual Brand Marketing Plans
AUDIT ANNUAL
PLAN BRAIN STORM
RESULT
ANALYSIS
QUATERLY
REVIEW LOCK-IN LOCK-IN
1. Sign-off plans with larger
category/company plans 2. Sign-off resource Requirements
3. Identify detailed targets by month
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Planning Success: Annual Brand Marketing Plans
AUDIT ANNUAL
PLAN BRAIN STORM
RESULT
ANALYSIS
QUATERLY
REVIEW LOCK-IN
QUATERLY
REVIEW
1. Monitor Progress at Quarterly Intervals
2. Course Correct as required
Ensure YEARLY Plan is on Target
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Planning Success: Annual Brand Marketing Plans
AUDIT ANNUAL
PLAN BRAIN STORM
RESULT
ANALYSIS
QUATERLY
REVIEW LOCK-IN
RESULT
ANALYSIS
1. Year End Result Tabulation 2. Identify key sources of success and failure 3. Team Meetings to discuss and plan for the
following year
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A strong financial position provides the fuel to propel a brand further
Managing a Brand P&L
• P & L: Profit & loss. Statement of
financial performance for a
particular time
• Managing this is essential to a
brands survival
Brand P&L:
Affected
by
Marketing
Team
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A strong financial position provides the fuel to propel a brand further
Managing a Brand P&L
Brand P&L:
Affected
by
Marketing
Team
Key Terms
1. Gross Sales Value - Sales at the ‘max
trade price’ before any trade
reductions/discounts
2. TM Inv: Discounts/Promo for Trade
3. Supply Chain Costs - Costs incurred
in producing and supplying
products to customers (materials,
production, buying, planning,
distribution)
4. Advertising and Promotion - All costs
of supporting the product in the
market place through A&P.
5. Indirect Costs - Costs of running
business (except Supply Chain and
Advertising and Promotion Eg.
selling, admin, R & D,accounting,
etc.
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A brand team controls part of the total P&L – but the critical part.
To ensure a healthy trading contribution (margin)/end result, a
brand must deliver on its part of the P&L i.e. Gross Profit and PBI.
HOW??
By Managing Costs
A P&L should be used as an important tool to assess the financial
impact of all key brand decisions like increasing Advertising by 20%,
price reductions by Rs.5/unit, etc.
Each Brand should define a target margin that it should aim to attain in
a given period
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PRODUCT
•Raw Material Costs
• Packaging Costs
• Increase Shelf Life
PRICE
• Price Elasticity – A Rs.xx
increase in price will cause
overall sales growth or fall?
• Can my brand charge a greater
premium
PLACE
•Reducing Transport Cost
• Reducing Inventory
• Reduce Damages
PROMOTION
•Is TV the most cost effective medium?
• Can PR work harder?
• Is price off better or sampling
A Brand Owner should continually ask the right questions to his team
to ensure all the Ps are delivered as cost effectively as possible
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PRODUCT
•Raw Material Costs
• Packaging Costs
• Increase Shelf Life
PRICE
• Price Elasticity – A Rs.xx
increase in price will cause
overall sales growth or fall?
• Can my brand charge a greater
premium
PLACE
•Reducing Transport Cost
• Reducing Inventory
• Reduce Damages
PROMOTION
•Is TV the most cost effective medium?
• Can PR work harder?
• Is price off better or sampling
A Brand Owner should continually ask the right questions to his team
to ensure all the Ps are delivered as cost effectively as possible
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PRODUCT
•Raw Material Costs
• Packaging Costs
• Increase Shelf Life
PRICE
• Price Elasticity – A Rs.xx
increase in price will cause
overall sales growth or fall?
• Can my brand charge a greater
premium
PLACE
•Reducing Transport Cost
• Reducing Inventory
• Reduce Damages
PROMOTION
•Is TV the most cost effective medium?
• Can PR work harder?
• Is price off better or sampling
A Brand Owner should continually ask the right questions to his team
to ensure all the Ps are delivered as cost effectively as possible
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PRODUCT
•Raw Material Costs
• Packaging Costs
• Increase Shelf Life
PRICE
• Price Elasticity – A Rs.xx
increase in price will cause
overall sales growth or fall?
• Can my brand charge a greater
premium
PLACE
•Reducing Transport Cost
• Reducing Inventory
• Reduce Damages
PROMOTION
•Is TV the most cost effective medium?
• Can PR work harder?
• Is price off better or sampling
A Brand Owner should continually ask the right questions to his team
to ensure all the Ps are delivered as cost effectively as possible
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Eg. Category Architecture: Hyundai India
A brand in many companies is part of a larger portfolio of offerings
each with its own role to perform. It must recognize and stick to
that role.
Mass Segment: 60% of Buyers
Offering: Santro, Getz
Mid Tier (25% buyers)
Offering: Verna, Accent
Luxury
(10%)
Sonata
While the mid tier segment is
booming, would SONATA be the brand to cut prices and target
it? Or would an accent or verna
do the job better??
A brand must stay in the
segment defined for it.
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Even after a segment is defined (generally done a for a pd. Of 3-5
years) there is enough room within to decide what a brand
should/should not do
Created for a period of 2-4 years this defines what the brand
seeks to do and a strategy for how it will do so over the said
period. This defines the boundary for a brand
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What it includes:
• Brand Identity Document
• Key Thrust/Focus Areas
• Key Innovations Planned
• Target Consumers
• Target Geographies • Brand Scope (in & out)
• Range Architecture of a Brand
• Key Properties of a Brand
• A&P Spending Guidelines • Communication Guides
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Eg. Range Architecture
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• When each brand stays in its defined segment and
the category strategy is well defined there can
often be a positive rub-off of the mother brand on
each individual brand (called a ‘halo’)
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•The iPhone 5/iPad 3 have barely been
announced yet!! Why are people
DYING to get their hands on it??
•Because APPLE has worked hard to
ensure that all its sub brands (iPod, MacBook, iPhone, etc.) benefit from the positive image it has built for itself.
p.s. – iPhone 5 should be out by mid november
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A brand, however successful cannot survive unchanged,
for a long time.
WHY? A few have been listed below:
CATEGORY EVOLUTION
CULTURE, BELIEFS & TRENDS
ENVIRONMENTAL CHANGES
OTHER REASONS
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CATEGORY EVOLUTION
Categories changes over time acc. to evolving
customer needs. Brands must deliver these to
avoid falling out of their consideration set. Eg. Demand for communication/e-mail/ internet on
the go has led to a convergence in PCs and
Phones with devices like the iPad.
Cars with more fuel efficient engines. (Euro I/II/III/IV) .
CULTURE, BELIEFS & TRENDS
ENVIRONMENTAL
CHANGES OTHER REASONS
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CATEGORY
EVOLUTION
ENVIRONMENTAL
CHANGES
OTHER
REASONS
CULTURE, BELIEFS & TRENDS
Each geography has a unique set of
cultures, beliefs and traditions. These evolve
over time. A number of short and long term
trends also accompany these. (Eg. Trend
towards westernization). Eg. Cadbury
chocolate reinventing itself to leverage
‘gifting’ as a tradition and play in the much
larger traditional ‘mithai’ space during festivals. Fair & Lovely has its core benefit built
from cultural beliefs.
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CATEGORY
EVOLUTION
CULTURE,
BELIEFS &
TRENDS
OTHER
REASONS
ENVIRONMENTAL CHANGES
Sometimes changes occur in the external environment that necessitate a change in a given category and brand to better serve consumer needs. Certain laws/legalities may also come in place that require a brand to change its ways. Eg. Ban on alcohol advertising led to avatars in sodas/music, etc.
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CATEGORY
EVOLUTION
CULTURE,
BELIEFS &
TRENDS
ENVIRONMENTAL
CHANGES
OTHER REASONS
• Exposure to external/international offerings
(& imports) put pressure on local brands to
be more competitive
• Stage of product life cycle
• Negative/Adverse consumer or market
feedback (Eg. Indica launched V2 after
several complaints with their first version)
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Predicting and accounting for these and other
changes help a brand stay ahead of the curve
and remain RELEVANT to its consumer base
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Means of Change:
INNOVATION: Creating an altogether new product to satisfy
new/evolving consumer needs with a new marketing mix (4Ps). (Eg. Fuel
Cell Cars)
RENOVATION/REFRESH: Where there is change in one or more Ps but the
fundamental brand remains similar i.e. it is a relaunch of an existing brand
with some ‘new news’ to stay relevant. Typically done every 2-3 years.
(Eg. Coke launching its slimmer cans that are easier to hold/carry or
Mineral Water companies adding additional vitamins/minerals to water to
tap the rising concerns on health)
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Ever think that the Kindle revolutionized the
way we read?? Think Again!
http://www.youtube.com/watch?v=ISxgVmRnFq8
(play this link)
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Help to give shape the marketing mix with an accent on development of communicationKey Functions:
• Planning: Provide strategic direction to a brand from concept development to post
launch (Brand Identity, tone/manner of communication, etc.)
• Creative Team: Develop communication, scripts, advertising, etc.
• Client Servicing: Bridge between the client and the agency to translate client
requirements to into creative communication
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Similar to Advertising agencies but focus on PR for a campaign
or brand
• Bridge between the client/brand and the external
environment
• Build positive associations about a brand with the public,
media and other key influencers in the external environment via press conferences, pr campaigns, viral campaigns, etc.
• Help mitigate risks, manage negative PR on a brand (eg.
Coke & pesticides)
• Help generate word of mouth
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Specialized agencies ensure that brands get the most relevant media in their budgets to achieve their desired goals/objectives.
Key Functions:
• Client Servicing & Planning (Can be separate too): Understanding client needs (% awareness required, audience to be reached, media budget, etc.) and devising a detailed media plan
• Media Buying: Interacts & Negotiates with media channels (TV, Radio, Outdoor, Online, etc.) and buys spots (Airtime for a 30 sec ad) to fulfill the client’s media plan
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Performing research with consumers, shoppers and trade to help marketeers better understand their audience and the appeal of their marketing mixes. Two key forms:
Qualitative and Quantitative (explained earlier )
Key Functions:
• Client Servicing: Liaison to understand clients needs and translate it to research studies
• Researcher: People who conduct research/studies/surveys in the field with consumers
• Analytics/Analysis Wing: Analyze raw data (qual/quant), create hypothesis and draw conclusions and recommendations for the clients.
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Key Qualities/Skills Needed:
• Great interpersonal skills. I repeat Great
Interpersonal Skills
• Attention to detail
• Ability to multi-task
• Creativity and imagination
• Ability to handle pressure and competition
• Ability to deal with ambiguity
• Adaptability
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Work Hours:
• 9 - 5 for much of the year
• 24*7 at critical points like a
launch/relaunch!
• Travel overseas/domestic
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Career Progression:
• Progression from Assistant Brand Manager
to Brand Manager. Higher Levels include a
Marketing Manager (group o f brands)
followed by a Category Marketing Head
and then a VP, Marketing.
• Some companies may also like cross functional sales roles in the above
progression
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Career Progression:
• Executives within the Sales, Advertising, PR
or Product Design industries with
managerial experience could be
considered for a Brand Management role.
• Fresh Graduates are often considered for
trainee marketing roles (bring new perspective – very important) and are
then put into either of sales or marketing
depending on caliber, performance and
interests
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CREDITS:
• Letsintern.com
• @Laptop_crayons
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