BRAND BUILDING STRATEGIES ADOPTED BY

INDIAN START-UPS

V.N.L.SAI MADHAV15BSP0731

SET MY CAR

BRAND BUILDING STRATEGIES(OBJECTIVE)

My project focuses on the need for building a brand name in order to sustain in the current competitive world.

This project contains strategies that startups need to follow in order build a brand name for themselves. And some specific recommendations to setmycar.

The analysis or recommendations are practical in nature and can be applicable at various stages of organization ( Introduction, Growth and maturity stages).

WORK DONE Starting with the company’s work and services

provided by the company to its customers. Analyzing the current trend of promotions and

their effect on growth of the organization. Analyzing strategies followed by top brands in

order to build the brand name. Analyzing how they can be implemented in a start up like setmycar.

Focusing more on effective and low cost promotional activities and thus try to grab the customer’s attention.

SWOT ANALYSIS

STRENGHTS WEAKNESS

OPPORTUNITIES THREATS

STRENGTHS

i) First mover Advantage.

ii)Professional cleaning equipment

iii)Innovative cleaning method (Go-green)

WEAKNESS

i) Being a New Brand in the Market.

ii)No R&D team to support its

operations.

OPPORTUNITIES

i) Operating in Mumbai, where people are really

good in accepting new Brands and services.

ii)Support from Govt. Of India for start-Ups.

iii)Having So much space to penetrate into market.

iv)Increasing awareness about water saving.

THREATS

i) Wrong interpretation of services

ii)Threats from competitors like 3M cars and local

Guys.

iii)Low investments and good returns will attract

more players, increasing the competition.

PORTER’s FIVE FORCES

Competition and

Comparison with

Companies like 3M Cars

Threat of New

entrants.

Bargaining Power Of buyers.

Threat of Substitut

e

Bargaining Power Of Sellers .

•Since concept is good and initial investment is low, the threat from new entrants is high

•Usually discounts are given to the customers who are giving more number of cars. So, bargaining power of buyers is medium

• There is a need for huge amounts of liquid, But number of suppliers are more. So, bargaining power is low.

•There are so many kinds of liquids available in the market and number of freelancers are more. So, threat of substitutes is high

ANALYSIS My analysis started with the word ‘brand’. Brand building is generally a three step

process.

Brand Building

Brand Awareness

Brand Recognitio

nBrand Recall

Brand Recall

Brand Awareness

BRAND AWARENESS & RECOGNITION

Brand Awareness & recognition can be combined together to be called as Crafting a Brand.

Brand Pyramid: Tells us various stages of brand building.

CRAFTING A BRAND GTM strategy

Brand communities: brand communities help companies to improve their reputation. Members of these communities will act like customer evangelists. This is a good way to create awareness and recognition of your brand.

MANAGING A BRAND Second stage of brand building. After creating

awareness about your brand , a company has to manage its brand name. Managing rand name means it should not try to change its positioning in the mindsets of customers.

Some of the ways are:a) Build Strong Differentiation b) Viral Marketingc) Brand Relationshipsd) Co-brandinge) Social Marketing.f) Csr Activities.

RECOMMENDATIONS The selfie campaign Brand recall by giving gifts like key chains

and coffee mugs.

Giving stickers to customers and asking them to stick them to their cars. This will create a feeling that they are also contributing something for the environment.

INTERPRETATION The strategies that are been suggested

are low cost yet effective ways to create a brand name.

Brand communities will always help in crafting the brand.

Managing a brand is very important. In order to create brand recall ,be connected with your customers. And let them feel proud to be a part of your community.

Emotional bondage will always help in creating a brand name for your company.

CONCLUSION Branding is an essential thing for each

and every organization. Promotions must be thoughtful. Primary

focus of an organization must be to deliver good quality of products/services.

Over promising will lead to failure of company.

Brand = loyalty = evangelists= Revenue=Profit.