PBM Basic Concepts
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Transcript of PBM Basic Concepts
Product and Brand Management
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SMALL POND WITH BANYAN
Brand: Key Attributes and Traits
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Three key attributescompelling ideaa resolute core purpose and supporting valuesa central organizational principle
Five distinct traits Consistency in delivering on their promiseSuperior products and processesDistinctive positioning and customer experienceAlignment to the internal and external commitment to the brandAn ability to stay relevant
Source: ‘What makes Brands great?’ by Chuck Brimer
Brand MantrasAmerican Express'- "Worldclass Service,
Personal Recognition,”
Brand SloganAmerican Express' "Don't leave home without
it,”
Brand
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FunctionalNon-Functional
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Key TermsProductBrandBrand AwarenessBrand PerceptionBrand ImageBrand KnowledgeBrand AttitudeBrand Consideration SetBrand SatisfactionBrand LoyaltyBrand Score Card
Product Life Cycle
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Introductory stage
Early Growth stage
Late growth stage
Maturity stage
Decline stage
TIME
PRODUCTDEMAND
Faster rate of obsolescence Shrinking PLC
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“Marketing battles take place in the mind of a consumer or prospect. That’s where you win. That’s where you lose.”Jack Trout: Big Brands, Big Trouble
Definitions
Legal Entity /trade-markSignSymbolIdentityMeaning in consumer’s mindPersonalityRisk reduction
Dimensions
Popular terms
Corporate BrandingMother brand and sub brand (
Bajaj and Pulsar)Parent brand- Bajaj Auto
Umbrella Branding (Phillips)Source Branding (TVS Scooty)Endorsement (Cadbury’s 5 Star)Product branding (PulsarRange branding (Himalaya’s Ayurvedic
Concepts)Line branding (Surf)Co-branding (ICICI-XLRI card, SBI-GE, Tata
Docomo)
Brand Senses
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“Almost our entire understanding of the world is experienced through our senses” Martin Lindstrom, Brand Sense
Sensory branding stimulates your relationship with the brand
• Allows emotional response to dominate our rationale thinking
• Different dimensions of a single brand• Ultimate goal: Strong, positive, loyal bond between brand
and consumer so the consumer will turn to brand repeatedly• Goal: Emotional engagement, match between
perception/reality
Brand Iceberg
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Brand Personality Brand Image
Sincerity Excitement
Competence Sophistication Ruggedness
carefree
spirited youthf
ul
Customers are more likely to purchase a
brand if its personality is similar to their own.
Consumers’ perceptions about the brand as reflected by
brand associations held in memory.
Brand Prism
PersonalityPhysique
Self-
ImageReflections
Rela
tion
ship Culture
Cool, Innovative, Funny
Innovation, high quality.
Young, vibrant, dynamic.
Smart youngster who can turn a quirky situation to
his advantage.
Smart, cool, innovative youngster.
Delighting the consumer.
Round-shaped candy.Crunchy outside, soft
inside.
Brand key and branding in the digital age
Learning ObjectivesTo appreciateBrand key
Case 1: Knorr (given)Case 2: Airtel (to be inferred)
Branding in digital age, shift in focus
Brand key documentReflects STP (segmentation, targeting, and
positioning), needed toTransfer, (reach to consumer)Translate, (for stakeholder)Transform, (brand evolution, like for Dove)
Who all are involvedAd agencyMR firmBrand design consultant
For whomBoardroom document
OFTEN USED FOR THE PURPOSE OF BENCHMARKING
Identifying Brand KeyEssence: Medium becoming the messageIdentification of the compelling idea is a key
to the brand key
Branding ObjectivesBrand PremiumBrand ValuationIdentity creationLegal ProtectionRisk reductionImage in consumer’s mindMemory short-cuts (help to recall, act as reminder)Brand personalityRelationship (engagement with consumers)Value additionValue system
Spends on brand building often justified in terms of its impact at the sub-
conscious level
Brand Building Steps- Just to recapitulate
PresenceRelevanc
e
Performance
AdvantageBonding
ADVERTSING/RETAIL/
DISTRIBUTION STRATEGY
FOCUS ON THE RELEVANT SEGMENT
MEETING QUALITY EXPECTATIONS
Trade-OffsBudget Allocation
TVPrintOutdoorPR and Event ManagementDigital mediaRetail activationStaff training for its alignment with the Brand
Emphasis on digital media reflected in the next few slides
• The Internet has changed the way how Consumers engage with brands making many traditional strategies obsolete
• Customers connect with myriad brands via different channels beyond the control of the manufacturer or retailer
• After purchase consumers engage in publicly promoting the product and collaborating in the Brand’s development
• Touch points have changed in both numbers and nature requiring a realignment of marketing strategies and budgets with where consumers are actually spending their time
• Consider Stage– Top of Mind Consideration set: Products and Brands– Assembled by some kind of stimuli like ad exposure or
reference by friend
• Evaluate Stage– Consumer seek input from peers, reviewers, the brand
itself and competitors– Their selection criteria shifts as they learn more about the
product
• Buy Stage– Customers put off a purchase decision until they are
actually present in a store– The point of purchase is an ever more powerful touch
point
• Enjoy, Advocate & Bond stage–A deeper connection begins post purchase as the consumer interacts
with the product and new online touch points
–Consumer happy with a product advocates for it word of mouth which strengthens the brand
potential–Consumers unhappy with a brand severe ties with it or worse spread
negative word of mouth
Implication on Marketing Strategies
• Marketing should target stages in the decision journey rather than focusing on how to allocate spending across different media channels
• Today the single most powerful impetus to buy is somebody else’s advocacy, hence more resources should exploit Enjoy, Advocate and Bond stage
• Yet, 70-90% of marketing spends is for media spends(advertising and retail promotions) rather than driving advocacy
Co-creationFlipkart
5 million user base found themselves the role of a preview audience- albiet in the virtual world, getting a first look at the latest commercials even before they went live on TV.
Taking real time feedback from its viewersOut of nine creatives, three were allocated
greater media spends since they generated positive response, and were liked more on social media
http://www.youtube.com/watch?v=XlwcftfHzL0
CadburyLonely Maa
Core Idea: In today’s technologically overwhelming environment, where the digital media has replaced face-to-face interactions with email or Facebook updates, it is very important to remain connected to your loved ones in person.
Alignment with the brand: Interesting Archetype for the brand in its pursuit of promoting Indian values and tradition such as ‘spending time with Family’, ‘Celebrating Festivals’- all in order to stay relevant in the lives of Indian Consumer
http://www.youtube.com/watch?v=ZrCi_GxHFr0
Hair careTarget Group: 17 year old girl who was just
taking her first steps into independence and adulthood as the primary consumer
“We leveraged the digital medium to connect to our target audience who are plugged into music……” (Sameer Satpathy, VP and head of Marketing, Marico, an alumnus of XIMB)
She sang her first ever original music for the brand’ ‘Just Trust Me’- and released it on her YouTube channel, where it got more than three lakh views in three days
http://www.youtube.com/watch?v=XbsOM5qINFo
MARKETING PROBLEM- HAIR OIL USAGE IS DECLINING
Related FactsMarketing Principle: ‘Fishing where the fish
are’ (Refer to change in Consumer Decision Making Journey)
India will have the largest youth segment in the world by 2020, and 40% of country’s population is the rising middle class
TV Ads-(Passive, however Advertiser funded programming)
Digital-(Active)Other examples: Shoppers Stop (Gift card,
brand e-commerce website, their loyalty programme etc.)
MaybellineBB (Bright Benefit) CreamTG: Aware of International Trends, and who would
be an early adopterStrongest women brands: reaching 95% of all
women on Facebook over the last two years (Source: Leena Shoor, Marketing Manager-Maybelline, New York)
Digital agency FoxyMoron –women take forever (WTF), we are going nude, nude in this implied the benefit of clear skin
5,00,000 people on twitter in India with this trend in 3 hrs!
However
Advent of Anti-Social Media
Even 1% of the consumer base is there we have to be there
Need to be there for 24 hoursHowever, consumer vengeanceNothing goes into oblivion on digital mediaExample of VW:
Negative comments on women driversAngry commentsDeletion of thoseFlood of more negative commentsNeed to admit, be transparent, and act
No need to be there just to follow the trend
Innovations.pdf
How does this impact BJP?
LearningAppreciation of Brand Key and its linkages
with Marketing Programme implementation
Increasing trend in favour of new media
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BRANDING MODELS
Holistic sales proposition
Religious branding
sensory branding
HSPSmash Your brand
HSP NOT LIMITED TO LOGO BUT EMBEDDED IN EVERY ASPECT- MESSAGE, SOUND, SMELL, AND TOUCH
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Bajaj AutoHamara Bajaj toInspiring Confidence? ToDistinctly ahead
Hero HondaFocus on youth andIncredible India
Citizen Brands Model
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Corporate Branding
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HLL to HUL
Why Enhanced focus on it?
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Global requirementRight to InformationCorporate GovernanceCustomers questioning Ethos of the
companyA symbol of continuity or change or bothEvolutionary Marketing knowledge
(Evolution along with customer communities)
Brand Mythology
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BRANDSTORY
BRAND MYTH
BRANDVIEW
BRANDMYTHOLOGY
BRAND NARRATIVE
BRAND CULTURE
Branding
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More about intangible assetsBranding is creation of Myth?Branding is all about
CharacterImage (Persona)Perceptions & EquityLoyaltyIsm, cult
Myth means unreal?
Questions
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1. Do strong brands retain their core identity as they grow and evolve over the years? E.g Splendour
2. Can we distill the core value of a brand which doesn’t change no matter what form it takes? E.g Bajaj
3. Can break away brands ever really divorce themselves from the parental cell? E.g Utsav
4. Can a brand be called the single – cell of the business that be explained further by putting the properties of the single cell amoeba?