Team: Fresh LIME Soda Team Code: IIMI3069. Live your Passion Objective & Agenda Creativity Vintage...

Team: Fresh LIME SodaTeam Code: IIMI3069

Live your Passion

1

Objective & Agenda

CreativityVintage

Accessible LuxuryClassic

Heritage

Collector’s Value

Handcrafted AutomaticSwiss Geneve’

Industry and Competitor Analysis Understanding the Indian Watch Industry Major trends and perceptual findings Competitive Landscaping – Carving a niche’ for FC in India

Research Secondary Research - Findings Primary Research

- Methodology- Insights

Capability Analysis SWOT analysis

Corporate Focus Pros in segmentation and focus Cons of this segmentation Expanding the focus

New Positioning – Brand Key 8P Framework for FC Associations

Branding & Marketing of FC in IndiaDigital Strategy CSR Watch with Devanagari Script

Utilitarian product(know and manage time)

Wrist Watches

Mobiles

Tablets Laptops

Desktops

Cable TV

Wrist Watches

Lifestyle product

10 - 15% pa

Wrist watch penetration in India*

*Source: Indian Journal of marketing, June 2013**Source: Technopak Analysis

Time

Sale

s va

lue

Continued growth rate every year despite the increase in substitutes*

Market Segmentation by price**

1700

1600

900

370

86.52.1

Rs. 4200 Cr. 460 lakh pieces

Value (Crore) Volume (lakh pieces)

Segment Volume (lakh pieces)

Price Value (Crore)

Growth Rates

Mass 370 <1,000 1700 5-7%

Mid 86.5 1,001-10,000 1600 8-10%

Premium 2.1 >10,000 900 15-20%

10-15%27 %

of the India own multiple watches*3.5 %

Devanagari Watch

Integrated Campaign

STP and Marketing

Mix

SWOT and Brand Equity

Research

Industry & Competition

2

Indian Watch Industry

Low penetration and high growth rate show the opportunity in India

Research


Indian Luxury Timepieces

3 Source: Euromonitor

Trends Luxury brands account for 4% of total

timepieces sales CAGR of 24% Increased presence in smaller cities fuel sales Special events and gifting occasions

supporting growth, particularly popular gifts amongst Senior corporate managers and for Government employees

Men are most likely customers than women Majority of sales from store based retailing

in Tier I cities Green Luxury and Social responsibility is

important factor

Prospects Penetration into leading jewellery and watch

outlets like Malabar Gold in south India and TBZ in north India

Online portals will develop as a retail channel

Various brands cater to different luxury segments like affordable luxury, aspirational luxury and absolute luxury

CATEGORY DATASales of Luxury Timepieces by Category: Value 2007-2012

Rs million 2007 2008 2009 2010 2011 2012Men's 1,089.9 1,438.7 1,467.5 1,731.6 2,077.9 2,452.0

Women's 274.4 406.1 418.3 468.5 562.2 663.3

Total 1,364.3 1,844.8 1,885.7 2,200.1 2,640.1 3,115.3

Sales of Luxury Timepieces by Category: % Value Growth 2007-2012% current value

growth 2011/12 2007-12 CAGR 2007/12 TotalMen's 18.0 17.6 125.0

Women's 18.0 19.3 141.8

Total 18.0 18.0 128.3

Forecast Sales of Luxury Timepieces by Category: Value 2012-2017

Rs million 2007 2008 2009 2010 2011 2012Men's 2,452.0 2,795.2 3,172.6 3,585.0 4,033.2 4,517.2

Women's 663.3 774.8 903.4 1,049.8 1,217.7 1,410.1

Total 3,115.3 3,570.0 4,076.0 4,634.8 5,250.9 5,927.3

% current value growth 2011/12 2007-12 CAGR 2007/12 TotalMen's 13.0 84.2 13.0

Women's 16.3 112.6 16.3

Total 13.7 90.3 13.7

Forecast Sales of Luxury Timepieces by Category: % Value Growth 2012-2017

Devanagari Watch

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Mix


Secondary Research: Published in Indian Journal of marketing, July 2013 edition

Results of a Primary Research survey done to study consumer based perceptions, and predict trendsMethodology: Survey

Respondents: Sample size 100; 50 Gen X, 50 Gen Y

Research


Consumer Perceptions

Consumer

Gen X

Gen Y

Comparative brand hierarchy

Titan Citizen Rolex Timex Tissot Calvin Klein Casio Armani

Fastrack Tommy Hilfiger Reebok Casio Gucci Diesel Calvin Klein Armani

>35 years

18 – 35 years

Duration of brand usage

7 – 8 years High brand loyalty

(Stable) Reason for loyalty:

class, status and image

complement them and their personality

2 -3 years Low brand loyalty

(Open to Experimentation)

Reason for loyalty: contemporariness, influence

Aspiration to buy costlier watches

Multiple watches per

individual

Few people “to own a

watch for a particular occasion”

Few people “to own a

watch for a particular occasion”

Styling aspect

Other factors

Top-of-the-mind recall

Brand tag lines - LOWBrand ambassadors – HIGH Brand loyalty

beyond watches - LOW

Top-of-the-mind recall

Brand tag lines – LOW but better than Gen XBrand ambassadors – HIGH Brand loyalty

beyond watches - HIGH

4

Brand image and status influence the older generation more, while others’ influence has a role to play among the younger generation

Devanagari Watch

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5

Super Premium

Rs 70,000 – Rs 7,00,000

Premium

Success, accomplishment

going beyond one’s limits

Rs 1,20,000+

Super Premium

Elegance is an attitude

Rs 40,000 – Rs

5,50,000

Premium

Made to last beyond time

Rs 6,000 – Rs 1,00,000

Mid - premium

Rs 1,00,000 +

Omega signifies prestige and

accomplishment

Tag Heuer talks of self identity and self esteem

Target Segment

Price Points

Brand Character

Symbol of success; a jewel

Beautiful designs, elegance

A premier well engineered

watch

A Swiss luxury watch;

Spirit of achievement

A sports chronograph,self esteem

Benefits Offered

Swiss Swiss Swiss Swiss JapaneseOrigin

Analysis done through Secondary Research: Studying the advertisements, websites and Social Media

Competitor Analysis

Research


All major competitors have a reasonably well defined emotional space

Devanagari Watch

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6

The grid below shows the top 10 brands in India* in terms of their Products Attributes and Positioning

QuartzMechanical Movements / Automatic

Quartz

Exclusive Luxury

Accessible Luxury

Mass / Lower Priced

Technical Design

Jewellery

Sports

Lifestyle

Fashion

Source: Swiss Luxury Watch making Industry, Karine Gautshi, 2005*Top 10 brands in India as per retailer feedback, as provided in the case

Competitor Analysis

Research


Devanagari Watch

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STP and Marketing

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Primary Research* was done in 2 stages by visiting various watch retail outlets in MumbaiMethodology: Personalised interviews and Observation

Respondents: Watch Stores’ Retailers / Managers Location: At the retail store

Stage 1: Process: Interview with owners/ managers/ sales staff of various luxury watch storesObjective: To determine luxury consumers’ preferences, and develop insights about their consumer behaviour and trends

Stage 2: Process: In depth Interview with owners/ managers/ sales staff of 3 Frederique Constant Stores in MumbaiObjective: To determine profiles of past Frederique’ Constant buyers, and develop insights about customer perception about the brand

Insights:• Luxury customers are extremely brand conscious; One would rather buy a simple watch of a premium brand rather than a fancy watch of a brand not as premium • Luxury customers are not as particular about designs as they are about the brand itself• Indian luxury customers enjoy good deals – are value seekers

Insights:• Frederique’ Constant is purchased / enquired about mostly by corporate people and business executives (clear results of the focus and marketing till now)• An FC watch is not perceived as designer/ fashion piece at all, and more of a classic Swiss watch, purchased for quality• The devanagari script watch found quite a few purchases from Politicians

Research


7

Primary Research

Corporate executives form the chunk of people who consider purchasing a Frederique’ Constant timepiece

*Detailed description and results of research in Annexure 1

Devanagari Watch

Integrated Campaign

STP and Marketing

Mix


• Swiss origin (Geneva)• Handcrafted Automatic

Mechanical Timepieces• Vertical integration

delivering better quality• Heritage value of timepiece• Corporate focus• Classic sedate designs

• New Entrant to Indian Market• Low Brand Awareness• Lower number of mass

campaigns (only focused promotion)

• No high profile ambassador • Not perceived as a young

person’s watch

• Increasing disposable income• More upcoming ventures to

partner• Corporate gifting trend• Target a younger

audience• Communicate the

long term

value of an

FC watch

• Mobile manufacturers entering the watch manufacturing space

• Cheaper substitutes• Counterfeit watch market• Older brands with higher

equity in India

Consumers need to be communicated about FC’s

Differentiators

Growing market potential that needs a good

marketing mix to tap

Need to take up strategic brand building activities

over a longer period

Find ways to overcome effects of weaknesses through innovation / alternate channels

StrengthsGreater if it is a POD

rather than just a POP Can be leveraged upon to

build Competitive Advantage in the long term

Opportunities Highlight new

avenues to build capabilities

Conducive environment changes

ThreatsIncreasing risk of

environment factors

Risk of current brand strategy

Weaknesses Show priority areas or

focus areas for Marketing Highlight wrong

strategies

8

SWOT


Research


Differentiating strengths will form the basis of building brand identity

Devanagari Watch

Integrated Campaign

STP and Marketing

Mix

Understanding Brand Equity of Frederique Constant in India

Research


Brand Equity

Brand Stature (Esteem and Knowledge)

Bran

d St

reng

th

(Diff

eren

tiatio

n an

d Re

leva

nce)

Niche’/ Untapped Leadership

Declining

ErodingUnfocussed

New

Frederique’ Constant in India is differentiated in terms of its design, heritage, corporate focus and value, however, it still remains fairly niche’ due to

the huge untapped potential

Brand Asset Valuator®(BAV)* by Young and Rubicam Group used to measure equity

The long term goal of FC as a brand will be to move into the upper right quadrant (Leadership)

Measuring the Brand Equity

Points of Parity

Points of Differentiation

Swiss WatchSedate, classy,

clear dial designs

Automatic handcrafted

‘Live your Passion’

High quality Corporate Focus

Durable Heritage, story of founders

Collectors’ Value

Devanagari script watch

Points of Parity and Points of Differenceº can help understand brand equity of

Frederique Constant in India

*Detailed description about BAV in Annexure 3ºAs per primary research with watch retailers,

and secondary data analysis

FC’s Brand Equity ObjectiveTo achieve long term leadership in India, Frederique Constant will have to create a strong, differentiated brand positioning and focus on the correct target according to the brand character

Since the luxury watch industry is already crowded with multiple brands, and each of them partly own equities of craftsmanship, precision, quality, and other functional attributes of automatic watches, to create differentiation, instead of competing in the same space, Frederique Constant to create Executional equity of ‘Live your Passion’ with other brand characteristics supporting as functional equities

CreativityLive your PassionVintage

Accessible Luxury

HeritageCollector’s Value

Handcrafted Automatic

Swiss Geneve’

9

Devanagari Watch

Integrated Campaign

STP and Marketing

Mix


Focus on Corporate Sector needs to be expanded to ProfessionalsSegmentation Strategy

STP and Marketing

Mix

Research


• Focussed Identity of a ‘Corporate Watch’• Untapped to a great extent by competition• Offer less expensive means for focussed promotions – as opposed to mass campaigns

• Too focussed, and the target may not resonate the brand as effectively as desired• Segmentation and targeting ideally be based on psychographics for a lifestyle product

Leveraging someof the merits of current

Strategy and rectifying some of the cons, we propose expanding

the target to a larger group of ‘Professionals’ - business executives, doctors, lawyers, journalists,

teachers, artists etc.Demographic Segmentation Mainly corporate executives, however

also including professional businessmen , musicians, doctors,

academicians, sportsmen, journalists etc.

Income bracket: High income

Psychographic segmentationBased on Personality, Values and

LifestylesPassionate and mature individuals who appreciate beauty of niche’ handcrafted automatic designer products. They desire premium products to reflect their passion

LiveyourPassion

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Devanagari Watch

Integrated Campaign

Positioning of Frederique Constant and building the brand

The Brand Key* Model developed by HUL is used

to understand the positioning of the

Frederique’ Constant brand, and to understand strategic fit of ‘Live your

Passion’ for passionate professionals

Research


Brand Positioning

*Detailed description about Brand Key in Annexure 2

Essence

Product Philosophy

Discriminato

rReaso

n To

Believe

Target

Root Strength

Passion (profession, craftsmanship, design, interest) Value through accessibility

Competitive Environment

Classic designs– A reflection of passionate professionals

Handcrafted in Geneva ; Passionate about owning & wearing an FC watch

Benefit

Passionate, Appreciation for Swiss luxury, craftsmanship, classic design

Luxury timepieces - handcrafted with passion

Accessibility

Made in Geneva Passionate endorsers, heritage of

founders

Live yourPassion

A passionate person who has a desire for exquisite luxury and craftsmanship

Insight

Luxury time pieces, ‘’technology watches,

luxury jewellery - bracelets

Valu

es,

Bel

iefs

, Pe

rson

ality

A passionate, confident individual wants a sedate luxury

timepiece – reflection of his own passion and personality

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STP and Marketing

Mix


Devanagari Watch

Integrated Campaign

P

P

PP

P P

PP

PERFORMANCE

PAUCITYPUBLIC

RELATIONS(PR)

PEDIGREE

PERSONA

PRICING

PUBLIC FIGURES

PLACEMENT

Product level (Functional Benefit) - handcrafted, own caliber development, beautiful designs, new technologies

Experiential level (Emotional Benefit) – “Live your passion”

Handcrafted quality constrains mass production

Limited POS

Events Other Associations

The Swiss connection ‘Geneva’ Heritage: Frederique Constant – first

names of great grand parents of founders

Distinctive projection – Passion Coherence across consumer touch points –

events, associations Visual brand identity Long form commercials/ short film videos

targeted towards professionals Activation Programs – ‘Share your Passion’

Garners attention, credibility and impact Personality resonates with brand aura (passionate professionals) – Harsha Bhogle, Chetan Bhagat Weekly podcasts about their stories and life, distributed across digital channels

Retail brand environment – heightening consumer experience

Niche media – events, magazines, In-flight entertainment

Accessible Luxury Price points – Rs. 45, 000 to Rs. 2.25 lakh

Key Takeaways Experiential value is as important as product excellence Pedigree is important but it is also important to generate ongoing relevance and dynamism through Persona, PR Exclusivity and Stature through paucity and placement factor

Research


Marketing Mix 8 P’s

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Re-defining the Marketing Mix according to the 8Ps of Luxury marketing*

*8P Analysis by BPG Group, UAE; Source: Brand channel

STP and Marketing

Mix


Devanagari Watch

Integrated Campaign

Strategic advertising

Events and PR

Point of Sales Promo-tions

CSR

Digital Marketing

Integrated Marketing Campaign Handcrafted for the Passionate Pro-

fessional

Recommendation IMC

Research


Based on the STP and mix towards building the brand, what we propose for the short term is a targeted campaign under theme of ‘Passion’

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• Mobile Devices• Social Media marketing

• Direct Emails• Website and blog• Search based ads

• Corporate executive cricket and golf tournaments, offsites

• Exhibitions in 5 star hotels• Annual Business Quiz – Passion

• • Reducing the electronic waste

campaign• Fund raising for specific causes• Tie ups with hospitals and nursing

homes• Carbon positive manufacturing and

service setups

• Print based • Airlines screens• Airports billboards

• Hotels, lounges and clubs• Exclusive previews and concerts

• Use of technology enabled devices (e-displays) at POS

• Small branded collectibles with every watch (depending on collection)

IMC Media Mix

Liveyourpassion

STP and Marketing

Mix


Devanagari Watch

Integrated Campaign

Advertising and POS

Research


Targeted advertising in specific media will help reflect brand character, and build brand salience; POS will help improve brand imagery

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Get passionate people to endorse the brand – not necessarily high profile celebrity endorsers, but popular individuals who are passionate about what they do

Endorsers Suggested Advertising Communication ThemesGifting during festivalsGift yourself, Gift others - a perfect gift for the passionate professional

Celebrate your Passion professional achievements and milestones (first job, a promotion) - Rewarding yourself with an FC- a timeless masterpiece to celebrate your passion

My Passion – my prideInspirational heritage and story of Frederique Constant founders and their values and passion

Channels for AdvertisingMagazines

• Besides corporate magazines already used, Forbes, Business Today and The Week Magazine• Since the TG is now Professionals, lifestyle magazines like

Chip, Verve, Tehelka can be added• ‘The Little Magazine’ featuring art, films, documentaries,

poetry can be an interesting addition

BillboardsOutside airports, IT parks,

studios, 5 star hotels

In-Flight entertainment for international flights bound into India

Point of Sales MarketingE- displays and screens

At the POS technology enabled electronic catalogues can be used to display various ideas around Passionate.

Branded FC collectiblesRefine packaging to include a

branded collectible with every FC watch – Either it can be standard or varying as per the FC collection

Examples: A Frederique Constant Stamp, a heart shaped ornament

STP and Marketing

Mix


Devanagari Watch

Integrated Campaign

Inspired by passionate individuals, Manufacture is a range of exquisite handcrafted watches that signifies Passion for Innovation

Elegant, Bold; Runabout is a range of handcrafted, hand polished watches for passionate professionals who have an eye for detail

A collector's masterpiece; Vintage Rally is a range of exquisite handcrafted watches which are a timeless signature of the collector’s passion for style and prestige

Feminine and sophisticated, classic and elegant, sexy in every detail; Ladies automatic is a range of fine mechanical timepieces developed with passion by women for women. It reflects the values and aspirations of the modern, independent professional woman

A Swiss masterpiece; Classic is a range of heritage watches known amongst collectors for their exceptional value; for the classic professional!

Liveyourpassion

FC Collections Themes

Research


Under the leitmotif of ‘Passionate Professionals’ a few communication / advertisement themes are suggested for each of the

FC collections

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Devanagari Watch

STP and Marketing

Mix

Integrated Campaign

ObjectiveTo create awareness about Frederique’ Constant among Passionate Professionals in a targeted manner

ProcessConvene professionals who share passions and educate them about FC while giving them a chance to live their passion – brand resonance

Sponsoring Corporate Sports Tournaments. – like Cricket,

Polo and Golf. An FC watch as a winners memento

Bringing the “Passion Awards” to India – Extend the theme to professionals

Starting an Annual Event like a Business Quiz or a Quizzes within specific Professional domains

Strategic Event Partnerships with Car Shows/Rallies which FC does globally – Land Rover

Sponsoring Niche’ Professional Events and Concerts

Niche events like the Mahindra Blues, Jazz concerts etc

FC Exhibitions 5 star hotelsAlso fine dine pubs, lounges

and restaurants can have promotions

Events and Associations

Research


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Promotions through exclusive Events & Associations will improve Persona of the brand

Partner with corporate associations for sponsorship of corporate offsites for executives

Participation in events like Indian Luxury Expo & Mint

Luxury Conference

STP and Marketing

Mix


Devanagari Watch

Integrated Campaign

Big opportunity for brands to play a stronger role on Facebook, Twitter and other platforms70% of consumers prefer to hear about

new products from Facebook friends rather than brands*

*Source: 8thBridge report, 2012

+ 57% have asked their friends on Facebook for advice before purchasing a product* =

“Digital is a common landscape for luxury consumers, so as digital content evolves and the web grows, brands are testing how to interact with their consumers in the digital space”

-- Andrea Wilson, luxury practice lead, iProspect

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Digital Marketing

Continuous engagement

Big, beautiful images Detailed product descriptions Captivating lifestyle content Video and image galleries

Build brand

Communities Loyalists, Frequent customers, Aspirational fans

Enthusiast forums Brand moderators

Digital Marketing

Social media

Search

Website

Email

Content is

the

king

Mobile Apps QR codes

Let’s get

personal Highly targeted High ROI High competition for

attention

keyw

ords

SEO Search guides

FC Smartphone App• Make and share your own FC watch

design on the app• Get information about FC watches and

events

Search Engine Optimization improves through uploading of fresh content on the websiteAds should be strategically placed so as to improve

Emails to be sent to focussed professionals/ groups before and after events to build brand experience

Have an India – specific micro-site on the websiteUpload sponsored news and events to build identity of passion

FC on Social Media Communities of Passionate Professionals Besides brand FC page, FC should have an India specific page – which should continuously be uploaded with fresh content about sponsored events, associations and happenings. Since the new focused target are Passionate Professionals, create forums where they can share stories, and interact with each otherBuild activity through engaging content, promotions, taglines and contestsInvite passionate professionals to share their stories

Research


Mobile Devices

STP and Marketing

Mix


Devanagari Watch

Integrated Campaign

E-wasteCreating awareness about the generation of tremendous amounts of e-waste generated through used cells in watches. Promoting mechanical watches and creating awareness about the longer life and collectible nature of watches. Creation of short films and viral videos to support the cause

Frederique Constant - Heart AssociationSponsor certain fund raising events where charities and associations can put out presentations / shows and wealthy people, corporations and institutions can donate towards the cause. Since FC is associated in a big way towards Heart diseases, partnering with heart research institutes and hospitals is strategic in India as well. Social media can be used for promotions

Be a part of the Heritage: All partnering charities, associations and NGOs to be rewarded with a trip to FC HQ in Geneva

Carbon SurplusAll manufacturing and service centers the world over - to be carbon positive or rather carbon surplus. This can be communicated through different media

Research


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CSR

Recently in August 2013, the Indian Government passed a clause where companies will have to spend 2% of their net profit on CSR projects. It gives an opportunity to Frederique Constant to tie up with corporates for such projects, providing greater brand visibility, as well as strengthening support of the brand towards social causes

CSR is an increasing focus among elite luxury brands and in India this trend is all set to take off in a big way

STP and Marketing

Mix


Devanagari Watch

Integrated Campaign

‘Ethnically Aesthetic’Ethnic: a range of handcrafted watches for the Passionate Indian who attempts to build a connect with his roots while at the same time making efforts to achieve grandeur

Product inline with consumers’ values Indian consumer sees a sign of luxury in Indian

culture/ ethnicity/ royalty Focus on ‘Political class’

Created for IndiaCrafted in Switzerland

For the Passionate Indian

Marketing campaign on Social Media, about Indian-ness

Share why you’re passionate about India!

Imagery to feature ancient royal Indian culture – jewels, ethnic

handicrafts, surroundings

Promotion Campaigns along National Festivals like 15th of August or 26th of JanSpecial strategic promotions during Gifting festivals like Diwali, Holi, Rakshabandhan etc.

Research


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‘Devanagari Script’ watch

Passionate about Indian design – a timepiece handcrafted for you!

Primary Research suggested that the watch was fancied by Politicians

STP and Marketing

Mix


Devanagari Watch

Integrated Campaign

T.H.A.N.K Y.O.U

Annexure 1

Primary Research Details Brand Key Terminology Brand Asset Valuator

Frederique Constant Stores visited in Mumbai – The Collective, Watches of Switzerland.

Interviews with store managers/ sales person

Broad List of Questions / Topics discussed: 1. What do luxury watch customers (watch purchase above Rs.

20,000) prefer the most? – Brand loyalty v/s design of the watch2. What are the most important factors taken into consideration

while making such a purchase?3. What is profile of people who enquire about or consider the

Frederique Constant brand?4. What does Frederique Constant known for the most?5. Does Frederique Constant receive a lot of corporate orders?6. Which collection of Frederique Constant is the most popular?7. About the watch with Devanagari script – did regular FC buyers

buy it or it attracted specific buyers?

Photographs of display Frederique’ Constant Watches at the POS

Annexure 1

Primary Research Details Brand Key Terminology Brand Asset Valuator

Brand Loyalty Design

Results of the Research

Brand Design Celebrity Price range Style/ Type of watch

Brand v/s Design What matters the most while making a luxury purchase

Profile of people interested in FC

Mainly Corporate Executives

What FC is known for the most

• Swiss watch• Sedate clean dial designs

• Quality• Collector value

Most Popular collection of FC

Manufacture’ Collection

Devanagari Script watch - India

Politicians :: and People who preferred something ethnic

http://www.google.co.in/url?sa=i&rct=j&q=&esrc=s&frm=1&source=images&cd=&cad=rja&docid=Aj3IKgTwdn25mM&tbnid=w3Dzye4JZUO68M:&ved=&url=http://www.hodinkee.com/blog/2012/6/5/hands-on-with-the-excellent-frederique-constant-classics-man.html&ei=_48-UrzzH8H3rQex1oHYBQ&bvm=bv.52434380,d.bmk&psig=AFQjCNHi24WaY9ybq8-qDxzROQoA3FMjhQ&ust=1379918208031707

Primary Research Details Brand Key Terminology Brand Asset Valuator and

The Brand Key model consists of ten steps to establish effective brand positioning. The ten steps have been described below:1. Root Strengths- It is the original product, values and/or beliefs that made the brand great and on which

we want brand to build. 2. Competitive Environment – List of competitors, including share of wallet and share of mind3. Target – It’s the person and the situation for which the brand is always the best choice, defined in terms

of their attitudes and values, and not just demographics.4. Insight – The element of all you know about the target customer and their needs on which the brand is

founded. 5. Benefits – The differentiating functional, emotional and sensory benefits that motivate purchase. 6. Values, Beliefs and Personalities – The brand values what the brand stands for and believes in and its own

personality. 7. Product Philosophy – Our guiding product beliefs and principles and how we prove these principles

through product experience. 8. Reasons to Believe – These are the proofs we offer to substantiate the benefits/brand experience9. Discriminator – The single most competing and competitive reason for the target consumer to choose the

brand. 10.Essence - The distillation of the brand into a core idea or promise.

Annexure 2

Brand Key Terminology Brand Asset Valuator Primary Research Details

The Brand Asset Valuator Model (Trademark of Young & Rubicam Group) measures brand equity based on 4 parameters, as explained below:

1. Differentiation: Difference, uniqueness and distinctiveness – Reflecting the brand’s essence and ability to stand out from competition. Also captures the brand’s ability to command a premium.

2. Relevance: Personal appropriation to customers of the target group. Relevance is the source of the brands staying power.

3. Esteem: The degree to which the target group likes the brand, and understands how it fulfils its brand promise. Esteem is influenced by popularity and quality.

4. Knowledge: It means the ability of customers to internalize what the brand stands for. Knowledge is generally achieved over time, and marketing and media is crucial in achieving this.

• Brand Relevance and Differentiation together make up ‘Brand Strength’

• Brand esteem and knowledge make up ‘Brand Stature’

Annexure 3

Team: Fresh LIME Soda Team Code: IIMI3069. Live your Passion Objective & Agenda Creativity Vintage...

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