Branding Strategy: A customer centric approach by Pranesh Misra

DEVELOPING BRAND STRATEGY:A CONSUMER CENTRIC APPROACH

TIE INSTITUTE KNOWLEDGE SERIES ON BRANDING & MARKETING

MUMBAI, 27 NOVEMBER 2010

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WHAT IS A BRAND?

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Brands as signatures have existed for a long time….

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Brands as signatures have evolved over time….

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What is a Brand?

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“A term, sign, symbol or design, or a combination of these, intended to identify the goods or services of one seller and to differentiate it from those of competitors.”

American Marketing Association

WHY BRANDING?

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How Branding Helps the Owner?

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• Functional:– Trade Mark - Protection– Copyright and design protection– Simplify product tracing

• Symbolic:– Emotions– Personality– Belief system– Relationship with the consumers

Branding: How does the consumer benefit?

• Functional:– Identifying the owner to assign responsibility– Defining expectations

• Emotional: – Reassurance – feeling of security– Tribal – sense of belonging

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Two Views of A Brand

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BuyerSeller

FIRST PRINCIPLE…

What companies sell & What consumers buy

Are not the same things…

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Exercise: Write down what you are selling

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Seller?

Write down on a piece of paper…

Charlie Perfume

What they are Selling?

Perfume

What Consumers are buying?

Smelling & Feeling

Attractive

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Pepsodent


Toothpaste


Reassurance

Of Oral Protection

from Germs

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Cleartrip.Com


Online Travel

Booking


Reassurance of most

competitive price

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Tata Nano


The Cheapest

Car


Improved life status

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Exercise: Now ask yourself what the consumer is buying?

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Buyer?

Write down on a piece of paper…

Then, compare with your first answer…

Four Questions of Brand Building

Who Am I?

• Brand Name• Heritage• Category

What can I do for you?

• Product Benefits

• Reasons to believe

How would I make you feel?

• Emotional Benefits


What role do I play in your life?

• The larger purpose

• How do I improve life?

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Pepsodent Toothpaste

Who Am I?











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Who Am I?

• Pepsodent• Challenger to

Colgate• Oral health


• Fight against oral germs longer

• Clinically proven


• Confident that my family is well protected.

• Even when they indulge


• Make me a better mom!

• By allowing occasional indulgences


Who Am I?











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Who Am I?













Who Am I?











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Who Am I?













Who Am I?











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Who Am I?












Branding is about delivering INTANGIBLE benefits

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HOW TO BUILD BRANDS?

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Brand Building Journey

• Deep understanding of the Competition• Define the Target Consumers• Understand Consumer’s Mindset• Zero in on the Key Consumer Insight• Define Brand’s Personality & Core Values• Define Brand’s Benefits (functional & emotional)• Define the source of authority• Identify the key differentiator• Identify the Brand DNA

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Hygiene Factors

CATEGORY GENERICS

Key InsightTHE MOST IMPORTANT CONSUMER TRUTH

THAT WOULD DRIVE OUR BRAND

Brand Benefits:Functional: WHAT THE BRAND DOES PHYSICALLY

Emotional: HOW THE BRAND MAKES YOU FEEL

Proofs:

REASONS TO BELIEVE THE BRAND BENEFITS

Differentiator:

KEY POINT OF DIFFERENCE FROM COMPETITORS – THE REASON WHY CONSUMERS WOULD CHOOSE THE BRAND

Brand Identifier

HOW THE BRAND IS NOTICED BY THE SIX SENSES?

Brand Personality

HOW THE BRAND WOULD BEHAVE?

Brand Essence

DISTILLATION OF THE CORE DNA

Competitive EnvironmentWHO LOSES IF WE WIN?

Target Consumer• DEMOGRAPHICS• LIFESTYLE• MINDSETS

Brand Values

WHAT WOULD THE BRAND DIE FOR?

BRANDMAP : Tool to define Brand Positioning

Hygiene Factors

CATEGORY GENERICS

Key InsightTHE MOST IMPORTANT CONSUMER TRUTH

THAT WOULD DRIVE OUR BRAND

Brand Benefits:Functional: WHAT THE BRAND DOES PHYSICALLY

Emotional: HOW THE BRAND MAKES YOU FEEL

Proofs:

REASONS TO BELIEVE THE BRAND BENEFITS

Differentiator:

KEY POINT OF DIFFERENCE FROM COMPETITORS – THE REASON WHY CONSUMERS WOULD CHOOSE THE BRAND

Brand Identifier

HOW THE BRAND IS NOTICED BY THE SIX SENSES?

Brand Personality

HOW THE BRAND WOULD BEHAVE?

Brand Essence

DISTILLATION OF THE CORE DNA

Competitive EnvironmentWHO LOSES IF WE WIN?

Target Consumer• DEMOGRAPHICS• LIFESTYLE• MINDSETS

Brand Values

WHAT WOULD THE BRAND DIE FOR?

BRANDMAP EXERCISE:

THANK YOU

[email protected]

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Education

Branding Strategy: A customer centric approach by Pranesh Misra