Brand Strategy

There is certainly something in The Name

Brand Strategy
Developing brand vision Establishing brand position Fulfilling brand contract Communicating brand position Measuring Return on Brand Investment (RoBI)

Brand Management Allied fields

Human behavior Communications

Strategic Management BRAND MANAGEMENT

Media

Marketing

Brand Vision
A first step as to where the brand can and cannot go Clear articulation of the strategic, financial and brand goals that the management has created for the brand Forces management to chalk out what they want the brand to do for the organization in the next 5 years

Brand
An Identity that's instantly recalled Has Unique Personality Clear utility Attributes

Brand Positioning
The place in the consumers mind that you want the brand to ownthe benefit you want them to think when they think of your brand A strong brand position means that the brand has a unique, credible, sustainable and valued position in consumers mind

Brand Positioning
Single idea to be communicated Revolves around a benefit that helps your product or service to stand apart

Brand Positioning
Its about being first to occupy that unique space in the customers mind

Surf >>

Detergents

Bisleri>> Pure water Post it>> Stick on notes

XEROX >> Photocopier

Brand Associations
Disney - Family, Fun, Entertainment Club Mahindra Family, Fun, Holidays Big Bazaar Low prices, good value Fedex Guaranteed overnight delivery McDonalds Food, Fun

Brand Associations
Toyota Reliability Sony Quality Apple Innovation Google - Simplicity Kingfisher - Exclusive

Components of Brand Positioning

1. Definition of your target market 2. Definition of business your company is in or the industry or category it competes in 3. Statement of point of difference ad key benefits

Five Principles of Effective Positioning

1. Fit leverage strength of existing brand position 2. Value perceived benefits as seen by the customers 3. Uniqueness Points of difference go where the competition has not gone 4. Sustainability maximize the length of time this positioning can be owned 5. Credibility deliver promises brand contract

Brand Contract
List of promises that a brand makes to its customers Brand Contracts can and should change over time new promises can be added, irrelevant ones deleted Helps define marketplace perceptions and consumer expectations

Baristas Implicit Brand Contract

Provide highest quality coffee available in the market Wide variety of coffee options shakes, slushes, coolers, beverages etc. Ambience that is warm, welcoming appropriate for conversations and reading Recognize that visiting Barista is more about the experience of drinking coffee as it is about the coffee itself

Brand Based Communications

Align communication strategy to the overall corporate and brand vision Use an Integrated Communication Mix to get the best returns from every rupee spent Let your brand position largely determine the right communication strategy

Metrics to measure Return on Brand Investment (ROBI)

Brand name knowledge, awareness, recognition recall measures strength of the brand as reflected by the customers ability to identify brand Contract fulfillment degree to which your brand is upholding its contract Acquired customers counts customers who have come to your company based on the strength of your brand

Measuring RoBI
Customer Loyalty length of time a customer remains with your brand Financial value of your brand in the market place Price Premium - % of price of premium your brand is able command over other key competitor brands