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Brand Image Building

21st Century Branding : Importance of Being Different Consumer Driven Marketing Cycle Customer Acceptance Cycle Image Building Process : Brand Audit, Scorecard Creating a Connection Traingle Evaluating the Robustness of Positioning

Importance of Difference : Satisficing

For 99% of all consumers, satisficing is the goal 99% of time


the

Satisficing - purchasing a product that is good enough even if its not the best buy anywhere in the market Optimizing (finding the best buy in the market) requires too much time

Did you satisfice or optimize your spousal purchase? How does satisficing relate to brands?

[Brands] serve as handy identification tags, enabling consumers to save significant amounts of time and energy in making choices.
4

Being Better : Not As Important

Being different is often more important than being better Operational effectiveness (being better) is usually not sufficient for long-term profitability and sustainable competitive advantage

That which is superior today is inferior tomorrow, especially in technology industries

A brand can outperform rivals only if it can establish a difference that it can preserve

Brand Image Building

21st Century Branding : Importance of Being Different Consumer Driven Marketing Cycle Customer Acceptance Cycle Image Building Process : Brand Audit, Scorecard Creating a Connection Traingle Evaluating the Robustness of Positioning

Select Valuable Customers : Consumer Driven Marketing Cycle


Succeed And Improve Assess Performance Map the Marketspace

Select Most Valuable Customers

Actions
Execute the Tactical Plan

Strategies
Choose a Winning Positioning

Tactics

Define Performanc e Measures Build Operational Capabilities

Create the Tactical Plan

Brand Image Building

21st Century Branding : Importance of Being Different Consumer Driven Marketing Cycle Customer Acceptance Cycle Image Building Process : Brand Audit, Scorecard Creating a Connection Traingle Evaluating the Robustness of Positioning

From Awareness to Loyalty : Customer Acceptance Cycle

Resonance

Loyalty Attachment Community Engagement

4 Brand Relationships (WHAT About You AND ME?)

Judgements

Quality Credibility Consideration Superiority

Warmth, Fun Excitement, Security, Social Approval, Self-Respect

Feelings
3 Brand Response (WHAT About You?)

Performance

Brand Characteristics & Secondary Features Product Reliability, Durability & Serviceability Service Effectiveness, Efficiency & Empathy Style and Design; Price

User Profiles Purchase and Usage Situations Personality & Values History, Heritage, & Experiences

Imagery
2 Brand Meaning (WHAT Are You?)

Category Identification Needs Satisfied

1 Brand Identity (WHO Are You?)

Salience

Brand Image Building

21st Century Branding : Importance of Being Different Consumer Driven Marketing Cycle Customer Acceptance Cycle Image Building Process : Brand Audit, Scorecard Creating a Connection Traingle Evaluating the Robustness of Positioning

Brand Audit
A

good brand audit gives a definite answer about six interrelated equities
Product: Product performance supports the brand? Image: Image is strong and engaging? Customer:Strength of customer franchise? Channel: Leverage in channel environment? Visual : Clear,differentiating presence? Goodwill: Endorsed by influencers in the communities in which it lives?

Brand Audit : Equity Score Card Example


Image Equity Brand still to develop a strong and engaging image of its own Borrows a lot from Tata mother brand & Tata Steel. SSL ruboff only in industrial segment. Customer Equity Strong franchise amongst medium/ large poultry& grape farmers where the brand offers long life, value for money. Very limited appeal in barbed wires.

Product Equity Presents a clear, consistent & differentiating presence. Performs better across all segments

Visual Equity Poor visual equity,in a market full of spurious products Brand does not present a clear and differentiating presence

Channel Equity High affinity and relevance to channel Not well leveraged in channel with issues in location awareness, relationship management, channel conflict & brand display

Goodwill Equity The brand has not made an attempt to seek endorsements from influencers or be involved in the communities in which it lives Residual goodwill of Tata name

Brand Image Building

21st Century Branding : Importance of Being Different Consumer Driven Marketing Cycle Customer Acceptance Cycle Image Building Process : Brand Audit, Scorecard Creating a Connection Triangle Evaluating the Robustness of Positioning

Connection Triangle

Product Benefit
What I like it

Consumer UHT
Why I value it

Brand
Why I trust it

Connection Triangle:Example

Product Benefit
Quality adhesive

Consumer UHT Bonds of family/ friendship/love usually break

Brand
A bond that will not break

Brand Image Building

21st Century Branding : Importance of Being Different Consumer Driven Marketing Cycle Customer Acceptance Cycle Image Building Process : Brand Audit, Scorecard Creating a Connection Traingle Evaluating the Robustness of Positioning

Positioning Checklist: Example


Does Industrial segment value the positioning? Does positioning exclude competitive offerings? Is the positioning credible?
Critical

premium Cuts across diversity of industrial guys


Perception

property delivery =higher value, justifies

that only Tata can deliver No other brand owns the platform

History/experience of delivery

Can we sustain the position for long?

Needs

strong relationship management Needs of industrial segments unlikely to change Needs a sound quality control Technology an entry barrier for competition
Enhances

Does it fit organizations objectives?

profitability Motivates channel