Brand Management
Session 5: Step 3 in Developing / Building a Brand
Zeeshan Kingshuk Huq
Guest Faculty
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 à the sole responsible for the brand
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 à go beyond the usual
4 4/12/14/ZKH
DEFINE YOUR OFFERING Step 3 in Brand Building:
5 4/12/14/ZKH
Chicken or Egg?
What comes first: a Product, or a Brand?
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 don’t 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 à the NY Investment Banker trying to call mom at his home in Narail
! What is your competition missing? § Sometimes, the entrepreneurial passion just works!
! Don’t hit. Fall in love! ! Follow your guts
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 – don’t
mix your choices with the general customer choices!)
8 4/12/14/ZKH
QUESTIONS AND ANSWERS
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.
