Idea to branding

Brands-

From Commodity to BrandsFrom just Products to BrandsFrom Ideas to Brands

Meaningful Differentiation from Meaningless Attributes/Names/Identity

Brand = Product + Image

The Case of the Commodity Trap…….

• Most product-markets in our country are still at early stages of evolution. Therefore there are opportunities for companies to embark on strategic brand building exercises, thereby creating barriers to competition.

HOW THEN, TO BUILD A STRONG BRAND??•What benefits do customers seek in a specific product or service? (For ex. Retailing could be a benefit where brands are being sold by different channel.) There could be different sets of benefits that are sought. Brand building can begin here.

•What attributes and features provide the benefits sought by customers? A good understanding of such attribute-benefit linkages is also required for brand building.

•How does one deliver through your brand what customers seek? Either you do or you don’t. But if you do, there would be lot changes in internal systems and processes to deliver value through the brands.

BE WATCHFUL…..

•DO NOT TRY PEICEMEAL EFFORT OF DEVELOPING BRANDS. IT WOULD TAKE YOU NO WHERE.

•DO NOT TRY TO FIT DECISIONS TO ISSUES.

•BRANDS ARE NEVER BUILT BY ONE SINGLE ACT.

•They are build through a well thought out strategy linked to customer value.

•It is customers who build the brands and company can only provide inputs that the customer would appreciate as value.

What is Brand Equity =

It suggests the willingness to pay a price premiumTangible and Intangible assets associated with the brandAre the brands able to generate future cash flow?It is measured in terms of

Brand AwarenessPerceived QualityLoyaltyHowever they are not indicators of final

purchasing decisions of a consumer

Why is it important to calculate BE?

Brand are built block by block.

It is act of patience and takes lot of time to be built

It requires a team of Product, Brand, R&D, Production, Sales, Consumer Insight, Marketing to make it successful!

Forming a Consideration set of Brand Choice Alternatives

All brands in product class

Unknown brands Familiar brands

Brands found

accidentally

Brands found

through intentional

search

Evoked set (brands activated from memory)

Unrecalled brands

Consideration set of brand choice alternatives