Young Marketers Elite 3 – Assignment 1.1 - Liêm&Vy&Vân
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Transcript of Young Marketers Elite 3 – Assignment 1.1 - Liêm&Vy&Vân
Without PROFIT, without money from consumer,
company can not survive
To survive, it has to get consumer. By how?
Let consumer knows? By how?
“Good wine needs no bush”. No, lots of luck needed.
DO MARKETING
Company wants more
than to-survive, it wants
more profit. I know.
Do marketing well, win the game of
“having big consumption”
To have more consumption, more profit, company should:
AGENDA
• What is Marketing?
• What is Branding?
• Distinguish Brand and Product.
• Is it better if we have better brand
than better product?
• Why do we have to build brand?
• Brand love curve. How to be a
beloved brand?
MARKETINGMarketing is a process of using all resources of company to satisfy customer’s demand, to be performed by
all departments of the company and based on the strategic planning of marketers, aims to bring profit to
company.
Co-creation Communication Character buildingValue
management
The 4P’s
(Product, Price, Place, Promotion)
The STP
(segmentation, Targeting, Ppositioning)Brand building
Future
Today
Co-create their
own product and
experience
… in their own
communities
…look outside their
communities for
admirable
characters
BRAND
A Brand is what perceived in the minds and hearts of the consumer, consistently delivered by the experience.
A brand helps encourage someone to buy a product but does not explicitly say “buy me.”
SO, what does BRAND say?
It says: “This is what I am. This is why I exist. If you agree, if you like me, you can buy me, support me, and recommend me to your friends.”
The more consumers love brand, the more powerful and profitable that brand will be
Role of the BRAND
Is an object
Product perform a function, => rational decision to compare which one to buy
Is a personality
Brand offers an emotion=> emotional decision
Made by the company, built in factory, can be purchased
Made through consumer’s perception, built from trust and relationships
Quickly out-dated
Timeless
Can be copied, replaced Unique. It can beat the enemies
Tangible to the senses Idea with intangible
fulfill people’s need fulfill people’s want
Ex: What is in Aquafina product? Pure waterWhat is in Sapuwa product? Pure water
Ex: What is in Aquafina brand?
trust
High qualityfashion
pure
activeness
- encompasses marketing and communication message to promote a particular product
- conveys benefits of the given product being marketed.- Return: sales
- Business branding = person building a reputation. It is a driving force behind what, why, how company do- establishes the company's image and strengths- Return: LOYALTY (which leads to more sales)
That’s why:
Don’t misunderstand!
Product marketing Branding
So, having better PRODUCT is better than having better BRAND?
There are no superior product. There are ONLY SUPERIOR PERCEPTION in consumer’s mind=> We need to WIN CONSUMER’S MIND. Occupy consumer’s perception. HOW?
Ex 1: What happened when J.K. Rowling wrote a novel “The Cuckoo's Calling” andhad it published under a different name as Robert Galbraith? "The Cuckoo's Calling" sold less than 1,000 copies by the author Robert
Galbraith Then, word got out that the book was actually written by J.K. Rowling, it jmped
to best-seller lists and 1.1 million copies were sold.So, what's more important, the book or the author? What's more important, theproduct or the brand?
=> BRAND wins!!!
Ex 2: Developing a better smartphone than iPhone is a simple task compared to developing a better perception than iPhone in consumers' minds. In fact, it's almost impossible -- unless Apple does something stupid!
Vs.
Another:
…Brand love curveis a path showing the stronger
connection between brand and
customers’s mind through stages.
Customers go through with the connection-to-brand getting
stronger
INDIFFERENT LIKE IT LOVE IT BELOVED BRAND
Every brand sits at different places
on the curve. Understanding how
beloved the brand is will help
marketers choose strategy to push it
to be more loved
NO OPPINIONNot aware
Confusing
Not interested
Influence by current
brands.
SATISFY NEEDThough about it
Try it
Practical
It makes sense
CRAVE ITGreat experience
Favorite
Emotional Choice
Lifestyle fit
SELF EXPRESSIVE
Outspoken fan
Never switch
Memories
A part of life
More love = more power
= more growth
= MORE PROFIT
Why brand need more love?
exampleUS tissues brands on
brand love curve
Tracked by beloved-
brands.com
fan loyaltysatisfied
buy
consider
search
aware
Through US tissues brand love curve, consumers just KNOW about
Lever/Dial, they SEARCH & CONSIDER about Zest/Neutrogena/Ivory, some
BUY & SATIFIED with Aveeno/Olay but more become LOYALTY FAN of Dove
But even the beloved brands,
there is a battle field in purchasing
and mantaining love (like
Blackberry – the king of mobile
before iPhone)
Which soucers to
build the love in
consumer’s mind?
5 SOURCES OF CONNECTIVITY
Brand
Consumer
Brand
Positioning
Brand
Communication
Brand Plan
Brand Innovation
Brand ActivationExperience
Freshness
Strategy
Story
Promise
MEASURE YOUR BRAND LOVE USING BRAND FUNNEL
Awareness
Farmiliar
Consider
Purchase
Repeat
Loyal
INDIFFERENT
LIKE IT
LOVE IT
BELOVED BRAND
Skinny Funnel
Weak Awareness and
Consideration
Funnel Starts to Narrow
Down at Purchase
Weak Repeat and Loyal
Robust Funnel,
There are still gaps
between each Phases
Funnel Fills out
Strong repeat and loyal
Brand Funnel is a one of a tool to measure Brand
Health, showing the conversion ratio between each
stages of the consumer behavior journey, thus indicating
the strength, weakness, changes over last years and
differences to competitors. See the shape => decision
making
Brand love is identified based on several factors such as
shares, profit/loss, sales; one of which is the shape of
brand funnel
* The Modern
Brand Funnel may
include SEARCH
between Consider
and Purchase
EXAMPLE
90%
85%
66%
34%
16%
5%3%
47%
52%
78%
94%
Awareness
Familiar
Consideration
Purchase
Repeat
Loyal
Brand X currently suffered a big drop in conversion rate
moving from consideration to purchase
Therefore, we can infer that it is at ‘Like it’ stage
STRATEGY
Therefrom, we can decide the
most potential strategy for each
stage
INDIFFERENTEstablish in Mind to Raise
Awareness and Consideration
LIKE ITDifferentiate your Benefits make
them Close the Deal
LOVE ITTug at the Heart to tighten the
connection
BELOVEDContinue the magic to remain as a
beloved brandClick next for more details
INDIFFERENT LIKE IT
HOW
CONSUMERS
SEE YOU
No awareness
No opinion
No interest or confusing
Functional Product
Rational Choice (cheap, convenient, easy to use)
No emotion or feeling
HOW TO KNOW
YOU ARE AT
THIS STAGE
Brand Funnel: Skinny
Hard to maintain sales level
Low profit and contribution margin
Lose shares to other brands
Brand Funnel: Robust
Brand shows little difference
Your counterfeiters sells well
Stagnant shares, cannot increase
WHY YOU ARE
STUCK AT THIS
STAGE
1. You are Selling without Marketing
2. Your product is a Newly Introduced one
3. You have fallen from Grace
4. Having Power but Being Hated
1. Your choices are too safe
2. You are not an emotional marketer
3. A flaw somewhere drive out your consumers
4. You lose customers when starting to differentiate
5. Your brand promise is not consistent
6. Lack Positional Power - technology, distribution or price
7. Your brand is far from the consumers’ daily life.
HOW TO GET
OVER IT
1. Target a key niche a key group of consumers
2. Aim at consumers’ mind, make them believe.
3. Mind Shift, you may need an adjustment.
4. Renew and refresh your brand, bring it to life
5. Listen and get to know what consumers want, do, say and
think. Find their Insight
1. Focus on action to drive Consideration and Purchase.
2. Build around what is already Loved to influence people
3. Step out of your comfort zone. No ‘ok’ choices
4. Fix the flaw that leak out your consumers
5. Build a Big Idea that you can build around and connect.
LOVE IT BELOVED BRAND
HOW
CONSUMERS
SEE YOU
Emotional Connection
Emotional Choice (layered over rational)
Willing to switch stores to find your products
Hard to displace the love for your brand
Blind to Logic
Actual quality -> Perceived quality
Stick to their life
Favorite and Proud
HOW TO KNOW
YOU ARE AT
THIS STAGE
Brand Funnel: Narrow at Purchase
Healthy brand
High profit and margin, strong sales
Winning shares over weak competitors
Brand Funnel: fills out
Measurable Brand Equity
Preferential Treatment
Dominant Shares
WHY YOU ARE
AT THIS STAGE
1. You built an Emotional Connection but it is not deep and
strong enough
2. You can create Consistently Positive Experience but it is still
tied to product3. You have ways to Surprise and Delight Lack Magical
Moments
1. You become an Iconic Brand
2. You managed to win the consumers’ Perceptions.
3. You create emotionally and functionally good experience
4. You start to add new tastes to the power derived from the
tight consumer connection.
HOW TO GET
MORE LOVE
1. Make the Experience go beyond the product.
2. Own an emotional space in consumers’ heart and
cultivate on a deeper level
3. Put the consumer front and center. Fit your brand into their
Life by establishing a routine
4. Add a magic to the value your consumers receive
1. Horizontal expansion - Expand the Audience and Capture
more consumers.
2. Vertical expansion - Broaden the Offering to Attain more
value from loyal consumers.
3. Never be satisfied and complacent, continue to improve
and innovate.
Coca Cola is a company
product
SOFT DRINK
When first began, Coca Cola just bringing each real product to persuade
each people to buy. But Coca Cola wanted Coca Cola wanted to earn
more money, they want bigger consumption.
As a
beloved brandthey can achieve it
Let’s see how cocacola build their brand to become beloved brand as today (base on the history of Coca-Cola & their
marketing stratery through time)
Tight connection with
HAPPINESSAn iconic brand
of US
What you did marketing in Vietnam in 2015, you are now occupy beloved
space of lots of consumer. Wish you earn more profit in this Tet holiday,
Coca Cola!
1886 – Coca-Cola was not different siro juice
1899 – The first Coca-Cola bottle
1900s – Iconic curve bottle was made
Used ambassador
1906 – The great national temperance beverage
1917 – Sell 3mil a day
1926 – It had to be good where it is
Confirmed Coca
Cola is a national
temperance drink
Created a heart-
string with
customer through
functional benefit
“refresh”
1938 – The best friend thirst ever had
1948 – Where there’s Coke, there’s hospitality
1959 – Be really refreshed
1969 – It’s the real thing
1979 – Have a Coke, have a smile
2009 – Open HappinessTighted the heart-
string with a single
emotion: HAPPINESS