20140412 brand management chapter 6 iba mba48 e
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Transcript of 20140412 brand management chapter 6 iba mba48 e
Brand Management
Session 6: Step 4 of Brand Building: Positioning
Zeeshan Kingshuk Huq
Guest Faculty
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VISION, MISSION AND VALUES
Before you 'Position' your BRAND, define what your COMPANY should be
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Vision
§ Where do you want to go ... ! Define your long-term aspirations ! Usually very all-encompassing
§ Challenge is to differentiate ! Explain why you’re doing what you’re doing ! And the ultimate good you want to achieve through your
success
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Mission
§ How do you want to go there (to the Vision) ! Steps / actions that will take you to your vision ! Usually specific, functional
§ Challenge is to focus ! Not everything that you want should be here - shorten them ! Can you make them SMART when breaking down?
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Values § Tool: what your company brand ‘means’ and what it ‘is’ § Your brand means
! … ! … ! …
§ Your brand is ! … ! … ! …
§ Now, do it for your competition (at least 2 closest ones)
§ Tips: ! We respond to the best brands because they capture some
aspect of our humanity and reflect back to us
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'POSITIONING' YOUR BRAND What your brand stands for
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Brand Position Statement
§ Brand Name
§ Brand Consumer Benefit
§ Brand Personality
§ Product / Range / Description
§ Major Competitors
§ Target Consumers
§ Reasons to Believe the Benefit
§ Packaging
§ Advertising Property
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The crux is …
What is the single, most compelling PURPOSE for your Brand?
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A Car is a Car … or is it?
Car Brands
§ Mercedes
§ BMW
§ Volvo
§ Toyota
What comes to your mind?
§ Prestige / Status
§ Power
§ Safety
§ Value for money
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The Cornerstone
§ The brand positioning statement is the single most important item in all of marketing.
§ It defines EVERYTHING about what your brand is to the consumer.
§ This is the most important thing I’ll teach you ! It’ll also help you in any function of your job ! This’ll help you bring ruthless focus in your life
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All Elements
§ Packaging, Pricing, Distribution, Manufacturing, Sales, Marketing….
§ All work in unison to the beat of the brand positioning statement.
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Four Elements
§ Target Audience
§ Category
§ Compelling benefit
§ Reason to Believe (Kitchen Logic)
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Outline of a Brand Positioning Statement
§ <brand name> is a <product description> that helps <target customers> to fulfill their need of <need> because it has <reason to believe>
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Evaluate your Brand Positioning Statement
§ Criteria for Evaluation ! Is it memorable? ! Does it focus on the core consumers? ! What picture does it portray in your mind – does that
picture stand out from rest of the competition? ! Does it enable the brand to grow? ! Can it sustain for next 5 years? ! Does this serve as a filter for making decisions about the
brand?
§ Tips: ! Follow the grammar, but be flexible ! Leave it, review it at a later date
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WASHING AGENTS Positioning across Category
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Dow Brand Positioning Statement For homemakers, Dow Bathroom Products are the easy way to get a great clean shine for your tub, tile and toilet. That’s because only Dow Bathroom Products contain scrubbing bubbles that cut through dirt and grime clean to the shine!
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Positioning Concepts § Functional Positioning
! Solve Problems ! Provide benefits to customers ! Get favorable perception by investors and lenders
§ Symbolic Positioning ! Self-image enhancement ! Ego identification ! Belongingness and social meaningfulness ! Affective fulfillment
§ Experiential Positioning ! Provide sensory stimulation ! Provide cognitive stimulation
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FUNCTIONAL POSITIONING Toothpaste Category
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Crest Whitesrips Brand Positioning Statement For consumers ages 16-35, Crest Whitestrips whiten teeth five times better than the leading paint-on whitening gel. Thats because Crest’s gel-coated strips hold the peroxide on teeth longer, to whiten stains below the tooth surface.
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SYMBOLIC POSITIONING Positioning … more …
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The AXE Effect § First launched in France in 1983 § The ‘effect’ is supposed to draw
women in hordes to any male who has sprayed himself liberally with the Axe Deo ! Ads are slick ! Shows hordes of women – almost like
out of James Bond movies – get irresistibly drawn to a man
! The man is a normal, non-Greek-God, man BUT with (axe powered) self-confidence
§ TG (Demographic): Male, 15-25 years, middle + upper middle
§ Brand is normal yet cool, trendy and confident
§ Axe comes as a confidante, being a partner / friend
§ “This world can only be divided in two parts: guys, and gals, and nothing else! Axe helps the guys stay ahead in the mating game”
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NOW IT’S YOUR TURN
1. Draft a Brand Positioning Statement For (a) BRAC Bank (b) Any competition bank with ‘consumer’ banking (Local)