BRAND-RETAIL BRAND MANAGEMENT.ppt

8/14/2019 BRAND-RETAIL BRAND MANAGEMENT.ppt

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RETAIL BRAND MANAGEMENT

Role of Brand

Successful Retail Branding ensures

Stable long term demands Better margins

Differentiation by way of creating long term association

Adds value to the product

Trust of fulfillment of service expectations Protection from growing competition

Image as a company attractive enough to work for

Negotiation with suppliers from a position of improved strength


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Brand Loyalty

Brand or store loyalty will ensure

Positive disposal to the brand based on brand loyalty Brand preference : Frequent utilization of the store over other stores

Brand allegiance : Continuous utilization of the store overtime

Brand loyalty may be expressed for one or more brands

Hard core loyalty : Buying one brand all the time

Soft core loyalty : Buying a combination of two competing brands

Shifting loyalty : Buying preference shifting from one brand to another

Switchers : No loyalty to any one brand based on the deal given.


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Positioning of a brand

Determined on the basis of

1. Product usage

2. Price

For successful brand positioning Brand Managers should

Regularly assess the customers opinions

Clearly identify the target

Plan the brand

Differentiate the brand from others in the sub group

Brand Differentiation X Brand Segmentation = Brand Position


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Personality of a brand

It is created by way of adding psychological values through

Packaging

Advertising

Other aspects of the marketing mix

Importance

Encourages customers to build a relationship with a brand

Gives strength to the brand

Ensures the staying power of the brand

Hence brand personality has developed as a term.


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Brand Propositioning

Propositioning

Combination of positioning and personality

Allows brand to emerge from the fuzziness of competition

Simple proposition assures success. Customers understand

Concept has two non-functional aspects of brands

1. Brand image

2. Brand identity


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Brand Image

Customers regard brands possess human-like characteristics

Customers experience brands as bundles of association

Customers see, hear, smell, taste and get gut feelings about different brands

This profile or essence is called brand image

When a brand image is developed

Customers do not judge the image in relation to others

They adopt best in-class processes

Customers benchmark with world class services

Customers expect stores to deal with their customers as per world class standards


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Brand Identity

Central concept in promoting a brand

Comprises durability, coherence and realism embodying personality of the brand

Sends out signals which the consumers decode and interpret in terms of image

Identity is the solid enduring concept of the brand

It is not subject to idealism, fickleness or opportunism

BRAND-RETAIL BRAND MANAGEMENT.ppt

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