Group Riddhima 20151037Srinath 20151041

Strategic Brand Management

GAINING CUSTOMERS First Job to get New Customers Aggressive Selling is the key to getting new customers.

RETAINING CUSTOMERS Second Part after Gaining Customers Focussed Customer Service Proactive Customer Service is the Key to Retaining Customers

REGAINING CUSTOMERS Constant Touch, Making Amends, Taking Corrective Action, Improving your

product If the cause due to which customer was lost, can be overcome.

Customers

S.No. Customer Code Objective Strategy Result

1. New (Never Used)

C Convert Brand Switch Gain Customers

2. New (Never Used)

A Attract Category Switch Gain Customers

3. Existing (In Use)

I Increase Frequency Switch Retain Customers

4. Existing R Retain Avoid Switch Retain Customers

5. Lapsed (Previously Used)

Re Re-Convert Brand Re-Switch Re-Gain Customers

Brand Switch Module

S.No. What? Explain

1. Target Customer New (Never Used)

2. Strategy Brand Switch

3. Result Gain Customer

4. Triggers Dis-Satisfaction Non-Performance Low Perceived Value Bad Brand Experience Inconsistent Segmentation Overpriced Better Customer Orientation Unfulfilled Needs Increase in Aspirations

Code “C” : Convert

Example: Brand Switch from IODEX to MOOV

S.No. What? Explain

1. Target Customer New (Never Used)

2. Strategy Category Switch

3. Result Gain Customer

4. Triggers Need Gap Filled New Category Created Upwardly Mobile Greater Penetration New Segments Width of Consumption

Code “A” : Attract

Example: Category Switch from DESKTOP to LAPTOP

S.No. What? Explain

1. Target Customer Existing (In Use)

2. Strategy Frequency Switch

3. Result Retain Customer

4. Triggers Frequency of Consumption Depth of Consumption Increase Need More Locations of Consumption More Occasions of Consumption

Code “I” : Increase

Example: Frequency Switch of No. of Times a Family eats Dinner Outside

S.No. What? Explain

1. Target Customer Existing (In Use)

2. Strategy Avoid Switch

3. Result Retain Customer

4. Triggers Loyalty Programme Consistent Quality and Service Care and Share Marketing Keeping in touch – regular

interaction Re-assess changing needs of

consumers

Code “R” : Retain

Example: Avoid Switch from moving out from a bank like ICICI

S.No. What? Explain

1. Target Customer Lapsed (Formerly Used)

2. Strategy Brand Re-Switch

3. Result Re-Gain Customer

4. Triggers Apologise Reconsideration Set New Brand Experience Relaunch Rejuvenate Contemporary Image

Code “Re” : Re-Convert

Example: Brand Re-Switch Bringing Customer Back to LIC