"Happy to help, my foot!"
"As consumers we don't think that much."
Brand Management as an academic offering is pretty new and gaining momentum from the late 1980's to early 1990's.
What is it's level of quality? Is it low, medium, premium or luxury ? A Brand will have to set the standards on which the consumer can perceive the brand to be, it could be any of the four categories as mentioned earlier.
Every brand has it's own merits on which it stands.
A brand's most discriminating quality or benefit is basically the perceived positioning of the said brand.
How you sit in the minds of the customer is positioning, and Apple owes much of it's existence to having gotten their positioning spot on. Same goes for other longstanding brands like Coke which has positioned itself to be a rejuvenating drink, from which you derive 'happiness'.
--> Dove likewise has positioned itself to advocating internal beauty the very opposite of Lux.
--> Louis Vuitton => Accentuating the journey of life.
--> Red Bull => Energize
--> Zara => Democratize fashion trends.
Every brand has a personality, when you treat the brand as a human being what are the personality traits of the said brand.
Brand Imagery is a perception that the brand wants you to perceive them as. If you're a brand then a "crisis will kill you"
The image is subject to change. It is important that brands keep it contemporary, like how Pespsi and Coke have always managed to have keep it contemporary.
Positioning Changes over time but what doesn't change is the values. Positioning is done on the basis of changes in customers and competition. It is also important to know that 'cultural relevance' is an important aspect and never should it be treated otherwise.
Mc Donalds...
The 4 key values that they work on are
- Quality
- Service
- Cleanliness
- Value For Money
but having said that they're positioned around the three main promises of 'Fun, Food and Family'
Brand Concept (Value Proposition, Tangible, Intangible)
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Brand Name and Symbols Products or Service
A brand is an idea, which needs to come alive. Introduction of new products under the aegis of the parent brand.
'Gestalt' is a German word for structure.
A Brand has to have all of this:
- Personality
- Logo
- Emotional, Tangible benefits
- Country of Origin (eg Swiss Chocolates, Watches; Germany's Cars; Japan's technology.)
- Visual Appearance
- Best Costumer Relationship
- Brand Personality
When you buy a Brand, you believe and rightly so that you're invariably reducing the risks in product designs.
Functional Risk => The product does not perform or function up to expectation.
Financial Risk => The product is not worth the price said.
Physical Risk => The product that poses a threat to the physical well being or health of the user or others.
Social Risk => The Product results in an embarrassment for others.
Psychological Risk => The product affects the mental well being of the user.
Time Risk => The failure of the product results in an opportunity at the cost of finding another satisfactory product.
4 Components of Branding...
Building the Brand: Brand Identity is the first step
Leveraging the Brand: Line Extension: Brand Extension : Co Branding
Identifying and measuring Brand Equity: Maintaing good consumer relationships is vital for Brand Financial value.
Protecting the Brand against : Dilution, Legal Aspects.
"Goodwill is a reputation that is untouchable which holds some financial value. Apple is currently valued at 140 $Billion"
"A Brand has to be relevant, different and have energy"
-> Olympics Pitch by Rio was won based on many factors... Which included:
- Social Angle which promised better economy to the host nation..
- Rio is the party capital of the world. It is a vibrant and a colourful cities like few others.
- Olympics is believed to bring about a change in Rio's social fabric and in a good way.
- Tourism will receive a further boost.
"No two brands can have the same positioning"
"A Brand must start with a simple idea, it's actions must tell it's story, meaning it should walk the talk"
"A Brands customer's should want to tell your story"
"A brand should gear up for a marathon and not a sprint"
Brands need to prove themselves over and over again" or watch as they play catch up in a market that they once dominated.
"A brand must know where to play and win" and you play to win. Period.
"A Brands customer's should want to tell your story"
"A brand should gear up for a marathon and not a sprint"
Brands need to prove themselves over and over again" or watch as they play catch up in a market that they once dominated.
"A brand must know where to play and win" and you play to win. Period.
Book Recommendation: 'The Edge 50 tips from Brands that Lead'
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