PODUCT AND BRANDING STRATEGIES

By: Barkha Verma Sneha Sahai Himanshu Raj Kundanika Kamewal Kunal Grover

Identifies how the company plan to sell its products to the marketplace Documents how the people in marketplace think about its products and business Documents how its business positions its products and services contains strategies for selling A product strategy can encompass any number of products, depending on the nature of the business The company can have one strategy for each major product or the same strategy for all of them It involves answering the questions like: Who is the product aimed at? What benefit will customers expect? How does the firm plan to position the product within the market? What differential advantage will the product offer over their competitors? Benefits: Helps you analyse know your product - product knowledge Provides client focus Gives shape and form to the sales messages Helps analysing the competition and position the products competitively Helps to price the products competitvely Keeps up-to-date, forward looking and pro-active

COMPONENTS OF PRODUCT STRATEGY

Business objectives The product strategy needs to fit with the general aims and objectives of

the business and help to achieve them Target market(s) It identifies to whom to sell the products. Target market can be described in several ways like geographic, socioeconomic and demographic characteristics Client needs - The needs of the people in the target market are what is selling. It helps in developing later components of the product strategy Product positioning - Refers to the unique position the product creates in the marketplace. It can be based on product features, benefits, needs, or solutions, usage, another product etc. Selling strategy - Tells the strategies that fits best with all other strategies so as to make the most sales Competitor intelligence - It may sometimes happen that the data the company gather about its competition may cause it to rethink its strategies. SWOT analysis is generally used Making product changes Documents the need to make changes to the products or services to keep ahead of the competition

DIMENSIONS OF PRODUCT STRATEGY

Product Positioning: Placing the brand in that part of the market where it will have a

favourable reception Product Re-positioning: Reviewing the current positioning and seeking a new position that seems more appropriate Product Overlap: Competing against ones own brand through introduction of competing products Product Scope: Deals with the perspectives of the product mix of the company Product Design: Deals with the degree of standardization of the product Product Elimination: Cuts in the composition of the companys business unit product portfolio New Product: Set of operations for introducing a new product either within the business or on the market Diversification: Developing unfamiliar products and markets through horizontal and vertical diversification Value Marketing: Delivering on promises made for the product or service

Examples:NIKE

NIKE

Products : every type of sport shoes,sports apparels,sipper s,bags and other sports equipments

Focus is on people who are interested in sports activities

People who want to look athletic and fashionable

Fitness enthusiasts

Innovation is at the heart of NIKE, Inc.'s business growth strategy

Target audience connects the brand with the effort and determination needed to succeed and is motivated to improve their own game, whether everyday running or basketball.

NIKE Commercial

BRANDING

A McGraw-Hill study showed that, four years after the downturn, the companies that had maintained or increased the marketing communications during the economic slowdown typically experienced 14 times more growth than the companies that cut back.
BRAND The American Marketing Association (AMA) defines a brand as a "name, term, sign, symbol or design, or a combination intended to identify the goods and services of one seller to differentiate them from those of other sellers. The total experience associated with a company product or service. BRANDING Its how your customers relate to your company It separates you from your competition The objectives that a good brand will achieve include: Delivers the message clearly Confirms your credibility Connects your target prospects emotionally Motivates the buyer Concretes User Loyalty

Developing Brand Vision Establishing Brand position

Fulfilling Brand Contract Communicating Brand Position

Measuring RoBI

Brand Vision Provides a vision that forces management to articulate what they want the brand to do for the organization over the next five years, relative to brand value, revenue, and profit contributions

Brand Position A brands positioning is the place in consumer's minds that you want your brand to own- the benefit you want them to think of when they think of your brand.

Guaranteed overnight delivery

Family Fun Entertainment

Low prices and good value

Innovation

Five Principles of Effective Positioning Fit: Seek to leverage strengths of existing brand position Value: focus on the percieved benefits that customer value Uniqueness: Go where the customers are not Sustainability: Maximize the length of time this positioning can be hold within the competitive set Credibility: Get a credible fit between who you are and the supplier predicted by the customer model

Brand Contract It is a list of all promises that a brand makes to the customer. Such a contract is executed internally but it is defined and validated externally by the market place.

Implicit Brand Contract

Provide the highest quality coffee available in the market today Offer a wide variety of options in beverages as well as complementary food items Have an atmosphere that is warm and friendly, appropriate for having a conversation with friend or reading a book Its much about the experience than the coffee itself

Successful Brand Based Communication Use all communication strategies to help achieve your corporate strategy and brand vision Web based Print Broadcast Space

Metrics to measure Return on Brand Investment

Acquired Customers Customer Loyalty Financial Value Price Premium

BRANDING STRATEGIES

Individual Branding

Iconic Branding Derived Branding

Crowdsourcing branding

Branding Strategies
Brand Extension

No Brand Branding Multi Brand Strategy Private Labels

Individual Branding : Individual brand names naturally allow greater flexibility by permitting a variety of different products, of differing quality. Unilever is the prime example.

Iconic brands: are defined as having aspects that contribute to the consumer's self-expression and personal identity. Eg Nike, Apple.
Derived Brands: Some suppliers of key components may wish to guarantee its own position by promoting that component as a brand in its own right. For example, Intel, positions itself in the PC market with the slogan "Intel Inside. "No brand: branding may be construed as a type of branding as the product is made conspicuous through the absence of a brand name. "Tapa Amarilla" or "Yellow Cap" in Venezuela was simply recognized by the color of the cap of this cleaning products company. Brand Extension and Brand Dilution: The existing strong brand name can be used as a vehicle for new or modified products. For example, many fashion and designer companies extended brands into fragrances, shoes and accessories. Multi Brand: In a very saturated market, a supplier can deliberately launch totally new brands in apparent competition with its own existing strong brand to soak up some of the share of the market. Eg. P&G have 10 detergents in the market. Problem of Cannibalization. Private Labels : Where the retailer has a particularly strong identity this "own brand" may be able to compete against even the strongest brand leaders, and may outperform those products that are not otherwise strongly branded.

AMUL Utterly butterly Delicious

Brand Identity : Mascot & Tagline

Brand Perception : Most Trusted Brand in taste, quality & value

Brand Promise : Best quality at reasonable price

Family Branding : For most of the products

Advertising Strategy: Unique & contemporary

Branding in recession Fighter Brand

Reduce Price Launch a fighter brand Ex. Marlboros Street Bond Compromise with profits

Eliminates low price competition

Cannibalization Ex Kodak

Protects premium profits

Failure to bury the competition Ex. Mercks Zocor

Opens up a new market for organization

Missing the mark with customer

Adidas Global Brand Strategy

Driving long term development of adidas and Reebok Focus on consumer Brand Architecture and differentiation

Leadership in product innovation to excite and inspire the consumer

Marketing and communication leadership

To fulfill consumer demands Adidas adheres to the following principle

Create the unexpected in terms of product and brand experience

Create highest emotional connection between our brands and the consumer

Be prepared for the next generation, anticipating change

Show excellence in communication

Adidas and Football

Started of supplying shoes to the West

German National team at the 1954 world cup. Since the brand has been synonymous with football and being a sponsor at World cup Sponsor of official kit of Brazil France in the past At present sponsor of European elites like AC Milan, Real Madrid, Bayern Munich and Chelsea Brand ambassador at present include Messi, Xavi Alonso, Del Piero, Thomas Muller, Benzema, Van Persie

THANK YOU!!!