Lecture 2 ppt 15th april16 Strategy and Strategic Management

Lecture 2 ppt 15th april16 Strategy and Strategic Management

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  Brand Performance Management Introduction Gauri Pathak 15th April2016
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  GE 9 CELLMATRIX
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  BCG matrix
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  Concepts to beginwith 5. Brand Resolution  How will the new strategy excite people?  Is it inspiring? Does it align with the vision and the purpose of the Brand?  Does it bring focus and substantiation to the conversations taking place internally within the company? Example: Iphone SE
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  Ansoff’s matrix (Product/MarketExpansion Grid)
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   Market penetration:lower left quadrant, safest of the four options. Focus is on expanding sales of your existing product in your existing market: it is known that the product works in that market and hence lesser surprises.  Product development: the lower right quadrant, is slightly more risky, due to the introduction of a new product into the existing market.  Market development: in the upper left quadrant, putting an existing product into an entirely new market. This can be done by finding a new use for the product, or by adding new features or benefits to it.  Diversification: in the upper right quadrant, is the riskiest of the four options, because of the introduction of a new, unproven product into an entirely new market that may not be fully understood. 30.04.18 8
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  Concepts to beginwith 6. Brand Radiation  Will it spread?  Are the ideas in this strategy capable of great mobility?  Will they get people talking?  Will they move the brand beyond the confines of where it now finds itself?  Is there a story embedded within the strategy that people will really want to hear. Example: Airbnb
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  Concepts to beginwith 7. Brand Redefinition  Is it radical?  Does it have stretch?  Will it make people sweat (in a good way)?  Is it disruptive enough to reset the competitive markets? Or is it just rearranging the deckchairs?  What nuances does it unearth?  What new angles about the business does it cover?  How exuberantly does it challenge the status quo? Example: MINI
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  Concepts to beginwith 8. Brand Recognition  Does it still have the brand’s DNA?  Despite everything that’s being proposed, everything that’s being challenged, does it still feel like an iteration of the brand customers know?  Is there enough here for the customers to recognize the brand and enough here for them to get excited?  It may be an extension or an expansion, a shift or a reinforcement but the connection points still need to be there and the departure absolutely needs to go to a better place for customers (which means there’s still clear comparison points with what it was). Example: Harley
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  Concepts to beginwith 9. Brand Extension  Although existing products can further penetrate existing customer markets or push into additional ones, new-product introductions are often vital to the long-run success of a firm.  A brand extension occurs when a firm uses an established brand name to introduce a new product.  When a new brand is combined with an existing brand the brand extension can also be a sub-brand. An existing brand that gives birth to a brand extension is the parent brand.  If the parent brand is already associated with multiple products through brand extensions, then it may also be called a family brand. Example: Carlsberg
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  Concepts to beginwith 9. Brand Extension  Brand extensions fall into two general categories:2 • Line extension: The parent brand is applied to a new product that targets a new market segment within the current product category . A line extension often adds a different flavor, a different form or size, or a different application for the brand (like Pantene Dry Scalp shampoo). • Category/Franchise extension: Marketers apply the parent brand to enter a different product category from the one it currently serves (like Victorinox Swiss Army watches). Example: Victorinox
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  Concepts to beginwith 9. Brand Extension
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  Concepts to beginwith 10. Brand Description A brand description could include the following elements  Leadership team  Company profile  TV advertisements and media communication of the brand  Vision and Mission  Social Responsibility
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  Concepts to beginwith 11. Brand Portfolio  The brand portfolio is the set of all brands and brand lines a particular company offers for sale in a particular category or market segment. Marketers often need multiple brands in order to pursue multiple segments.  The basic principle in designing a brand portfolio is to maximize market coverage, so that no potential customers are being ignored, but to minimize brand overlap, so company brands are not competing for customer approval. Example: Unilever
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  Concepts to beginwith 12. Brand Audit  It is a diagnostic tool designed to assess a brand's sources of equity and it's current position.  It suggests ways to improve and leverage the equity, identifies opportunities for brand extension and image threats, in the form of a strategic plan. • What problem does your brand solve? • What is the brand’s value proposition? What is the brand’s unique selling proposition? • How is your brand priced compared to the market? • Who are the three biggest competitors? • How do competitors define their brands? • What is the most disappointing thing about this brand? • What do you get from this brand? • Are there things this brand should be doing that it is not? • Would you ever use this brand? Why or why not? • If you could do one thing to improve the brand, what would it be?
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  Caselet : Visa: One of the most used credit cards in the world. Issue: Identified an emotional distance between its brand and its customers. Research: Industry research suggested that brands have people’s attention for just 6.5 seconds Resolution: Visa created the GoInSix campaign Description: Brand would generate interactive content designed to motivate people to dine, shop and travel, using either six-second videos, six-image vignettes or six words. The campaign ran across all of its social channels and Visa urged influencers to upload their own GoInSix stories. Brand response: Visa’s Facebook engagement score ranking went from seventh to first in finance’ and climbed to second in all lifestyle brands. The campaign delivered 284m earned impressions, five times more than a previous Visa brand management attempts.