Brand Management

Session 4: Step 2 in Developing / Building a Brand

Zeeshan Kingshuk Huq

Guest Faculty

zeeshan.huq@gmail.com

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DECIDE WHOM TO BRAND FOR Step 2 in Brand Building:

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From KNOWING Your Customer …

We used to look at demographics Are they male or female Where do they stay What age are they at What are their education and income level Do they live in a family or alone Do they tend to follow any particular religion?

Demographic segmentation is the most popular base for any segmentation

We used to do researches in this line Life cycle stage Social Class SEC Lifestyle

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… to UNDERSTANDING your customer

Know the customer, not his/her demographics only When I am at your store, do I feel at home? When I am at your site, do I feel expected? Do you have an app for me? Do I really need an app at all? Can you suggest the perfect lunch for me? Do you know my last ten purchases? Can you predict my

next ten? Do you know my taste? My style? Who inspires me?

Whom I respect? Do you know my network?

Because the better we UNDERSTAND them, the more ways we can make them happy / satisfied

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HOMEWORK RIGHTYou have to do your

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Why?

Customers are far less trusting than they used to be Especially true in industries whose reputations suffered

(banking, pharmaceuticals, energy, airlines and media) Even if you're in an unrelated industry, you’re likely to be

effected Consumers have more power than ever before

Social media, easy on-line comparison-shopping, and a proliferation of choices.

Customer diversity continues to increase Opportunity! putting a premium on micro-segmentation

By increasing the noise-to-data ratio

Customers are confused as well! They are less interested in products More interested in flexible, adaptive solution

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Approaches in doing homework

Stand in your customer’s shoes Look beyond your core business need to look at

customer’s full range of choices, as well as his or her ecosystem of suppliers, partners etc.

Deepen understanding of competitors Staple yourself to a customer’s order

Track key customers’ experiences throughout the life-cycle Note where the experience breaks down

- Actual observation - Role-playing

Merge with the customers Let them take the lead

Lean forward and anticipate Apple

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Research Tips

Choose your target market right Your information will only be as good as your ‘sample’

Design your survey carefully Are you missing the key issues? What are the questions that you need answers to? Don’t offend customers

Keep it short (if not sweet) One pager?

Leave an opportunity for detailed answer too Not everyone will, but the fews will make the more difference

Work out your recording techniques / tools

Invest in the process

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“MEET YOUR NEW BOSS” Case 1: Getting to the context P&G and Lafley

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P&G Turn-around

A F Lafley took over as CEO of P&G in 2000 when the company had lost it’s way Stocks plunged by more than 50% Earning expectations dipped

From deciding how to drive to driving decisions

Simple mantra: ‘The Consumer is the Boss’ Hear the customer what they wanted to say Tease out what they wanted but never could articulate

Spend time ‘living’ with the consumers

Changes came from there Tide packaging Swiffer $1 billion annual revenue

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Word of Caution

Even the most well-intentioned people says things untrue They say they will do things they won’t, and purport to have

interest in things they don’t.

Solution?

Spend time in the market so that you can know the customer better than they know themselves.

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GODREJ CHOTUKOOL Case 2: Focusing on non-consumers

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Godrej Chotukool

Indian market is vast, and a large part still can’t afford refrigerator

Godrej and Boyce went on understanding the ‘untold’ need of this large customer base

Result Chotukool Refrigerator

Designed for 85% of the Indian Consumers who DID NOT buy refrigerators Same benefit of a refrigerator Smaller, more portable Less power-hungry runs on battery! Costs under $70

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GROUP CLASS ASSIGNMENT

Write down five things that a coworker or friend can only do by relying on an expert or going to a central location.

Think about ideas that would let these people do it themselves for any one of the above – something not prevalent in the country.

Chalk a solution for the relevant brand.