20140408 brand management chapter 5 iba mba48 e

Download 20140408 brand management chapter 5 iba mba48 e

Post on 22-Nov-2014

601 views

Category:

Business

1 download

DESCRIPTION

 

TRANSCRIPT

  • 1. Brand Management Session 5: Step 3 in Developing / Building a Brand Zeeshan Kingshuk Huq Guest Faculty zeeshan.huq@gmail.com
  • 2. 2 4/12/14/ZKH Quick Re-cap Brand is a promise Product is the system of delivering this promise Advertisement proposes and makes you believe this delivery of promise Brands build companies Brand Equity Consists of !Loyalty !Awareness !Perceived Quality / Value !Association Brand Manager the sole responsible for the brand
  • 3. 3 4/12/14/ZKH Quick Re-cap Steps of Building a Brand !Step 1: Decide what to brand - Company - Category - Products - Person - Idea / concept !Step 2: Decide whom to brand for - Knowing your customer : from knowing to understanding them - Do you homework right - Keep an open mind go beyond the usual
  • 4. 4 4/12/14/ZKH DEFINE YOUR OFFERING Step 3 in Brand Building:
  • 5. 5 4/12/14/ZKH Chicken or Egg? What comes first: a Product, or a Brand?
  • 6. 6 4/12/14/ZKH Your offerings: Finding the Rational(s) Define the problem !e.g. I want to open a new coffee shop in Uttara but dont know what kind of Coffee Shop might be successful - Is Coffee the problem, or shop the problem? - Is customer the problem, the price the problem? Define the Gap !What is your customer missing? - The case of GP the NY Investment Banker trying to call mom at his home in Narail !What is your competition missing? Sometimes, the entrepreneurial passion just works! !Dont hit. Fall in love! !Follow your guts
  • 7. 7 4/12/14/ZKH A tool in addressing the problem and/or the gap The Box32 Solution! !4 columns of Parameters or Aspects !8 rows for up to 8 possible variables !If you feel compelled, you can increase the number of columns or boxes, but are you losing your focus? Choose the best combination you intend to go for! !You can do a research no substitute for a small customer survey, or !You yourself can be the customer (the challenge is dont mix your choices with the general customer choices!)
  • 8. 8 4/12/14/ZKH QUESTIONS AND ANSWERS
  • 9. 9 4/12/14/ZKH CLASS ASSIGNMENT (GROUP) Choose a Product / Service / Idea that you want to brand. Name it, do a 32 box grid, briefly outline offerings based on it, and do a launch/ promotion campaign for it.