Branding & Positioning Strategies

Dr. Prashant MehtaAssistant Professor, National Law University,

Jodhpur

IABCSeptember 7,

2006 Copyright 2006

BUILDING SUCCESSFUL BRANDS

Discuss what branding is…Review successful branding strategyDiscuss SWOT/Marketing analysis to develop your own branding strategy

BRANDS

A BRAND…

Is whatever your customers think of when he or she hears your company name, product or service

Is the promise or expectations you create among your customers for the future performance of your company, product or service. (Your reputation depends entirely on how well you keep that promise)

Builds emotional connections (i.e. relationships) with its customers through perceptions, experiences, beliefs and feelings

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

BRANDS ARE BUILT FROM THE INSIDE OUT

Your brand and reputation starts with your employees, executives, business partners, vendors, editors, advertising, media, web, materials, and customers. All employees should know your value proposition. What differentiates your brand from others.

PROTECT YOUR COMPANY’S REPUTATION

Customers are increasingly making brand choices based on the total reputation of an organization. (How it relates to all internal and external

stakeholders).

BUILD COMPANY’S BRAND AROUND CUSTOMER PREFERENCES

Continually research and respond to changing customer preferences

CUSTOMERS DEMAND BRANDS THAT ARE PERSONAL AND NOT MASS PRODUCED

Customers want more than a transaction – they want an “experience” with your brand

This is the reason iPod is so much more successful than traditional CDs.

ANTICIPATE EVERY ENCOUNTER OR TOUCH POINT A CUSTOMER HAS WITH YOUR BRAND – A 360º VIEW

BRANDS SHOULD CREATE EMOTIONAL TRIGGERS… TO BUILD CUSTOMER RELATIONSHIP

Enhances lives/lifestyles

Helps customers to live more efficiently

People want to be seen with it

Builds community/peer interaction

CONSUMERS WANT THEIR BRANDS TO SUPPORT CAUSES

SUCCESSFUL BRANDS ARE SIGNIFICANTLY DIFFERENT. NOT JUST

A LITTLE BIT BETTER

Differentiate your brand in a way that is relevant, believable and defensible. Most companies and their products fall short here.

SUCCESSFUL BRANDS DELIVER ON THEIR PROMISE

-Don’t just say you are better – prove it

THE IDEAL BRAND WILL MOVE BEYOND MARKET SHARE INTO MARKET CREATION

Understand your customer’s needs and motivations – before they do

Don’t focus on the business you’re in today… design your solution around where you’ll need to be tomorrow

SWOT/MARKETING ANALYSIS

BRAND BUILDING