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?