sucessful brand
TRANSCRIPT
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