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By:Barkha VermaSneha SahaiHimanshu Raj Kundanika KamewalKunal GroverPODUCT AND BRANDING STRATEGIES

Identifies how the company plan to sell its products to the marketplaceDocuments how the people in marketplace think about its products and businessDocuments how its business positions its products and servicescontains strategies for sellingA product strategy can encompass any number of products, depending on the nature of the businessThe company can have one strategy for each major product or the same strategy for all of themIt involves answering the questions like:Who is the product aimed at?What benefit will customers expect?How does the firm plan to position the product within the market?What differential advantage will the product offer over their competitors?Benefits:Helps you analyse know your product - product knowledgeProvides client focusGives shape and form to the sales messagesHelps analysing the competition and position the products competitivelyHelps to price the products competitvelyKeeps up-to-date, forward looking and pro-active

COMPONENTS OF PRODUCT STRATEGYBusiness objectives The product strategy needs to fit with the general aims and objectives of the business and help to achieve themTarget market(s) It identifies to whom to sell the products. Target market can be described in several ways like geographic, socioeconomic and demographic characteristicsClient needs - The needs of the people in the target market are what is selling. It helps in developing later components of the product strategyProduct positioning - Refers to the unique position the product creates in the marketplace. It can be based on product features, benefits, needs, or solutions, usage, another product etc.Selling strategy - Tells the strategies that fits best with all other strategies so as to make the most salesCompetitor intelligence - It may sometimes happen that the data the company gather about its competition may cause it to rethink its strategies. SWOT analysis is generally usedMaking product changes Documents the need to make changes to the products or services to keep ahead of the competition

DIMENSIONS OF PRODUCT STRATEGYProduct Positioning: Placing the brand in that part of the market where it will have a favourable receptionProduct Re-positioning: Reviewing the current positioning and seeking a new position that seems more appropriateProduct Overlap: Competing against ones own brand through introduction of competing productsProduct Scope: Deals with the perspectives of the product mix of the companyProduct Design: Deals with the degree of standardization of the productProduct Elimination: Cuts in the composition of the companys business unit product portfolioNew Product: Set of operations for introducing a new product either within the business or on the marketDiversification: Developing unfamiliar products and markets through horizontal and vertical diversificationValue Marketing: Delivering on promises made for the product or serviceExamples:NIKE

NIKENIKE Commercial

BRANDING A McGraw-Hill study showed that, four years after the downturn, the companies that had maintained or increased the marketing communications during the economic slowdown typically experienced 14 times more growth than the companies that cut back.BRANDThe American Marketing Association (AMA) defines a brand as a "name, term, sign, symbol or design, or a combination intended to identify the goods and services of one seller to differentiate them from those of other sellers.The total experience associated with a company product or service.

BRANDINGIts how your customers relate to your companyIt separates you from your competition

The objectives that a good brand will achieve include:Delivers the message clearlyConfirms your credibilityConnects your target prospects emotionallyMotivates the buyerConcretes User Loyalty

Brand StrategyBrand VisionProvides a vision that forces management to articulate what they want the brand to do for the organization over the next five years, relative to brand value, revenue, and profit contributionsBrand PositionA brands positioning is the place in consumer's minds that you want your brand to own- the benefit you want them to think of when they think of your brand.

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Low prices and good valueInnovationFive Principles of Effective Positioning

Fit: Seek to leverage strengths of existing brand positionValue: focus on the percieved benefits that customer value Uniqueness: Go where the customers are notSustainability: Maximize the length of time this positioning can be hold within the competitive set Credibility: Get a credible fit between who you are and the supplier predicted by the customer model

Brand ContractIt is a list of all promises that a brand makes to the customer. Such a contract is executed internally but it is defined and validated externally by the market place.

Implicit Brand Contract

Provide the highest quality coffee available in the market todayOffer a wide variety of options in beverages as well as complementary food itemsHave an atmosphere that is warm and friendly, appropriate for having a conversation with friend or reading a bookIts much about the experience than the coffee itselfSuccessful Brand Based CommunicationUse all communication strategies to help achieve your corporate strategy and brand vision

Web basedPrintBroadcast Space

Metrics to measure Return on Brand Investment

Acquired CustomersCustomer LoyaltyFinancial ValuePrice Premium

BRANDING STRATEGIESIndividual Branding : Individual brand names naturally allow greater flexibility by permitting a variety of different products, of differing quality. Unilever is the prime example.

Iconic brands: are defined as having aspects that contribute to the consumer's self-expression and personal identity. Eg Nike, Apple.

Derived Brands: Some suppliers of key components may wish to guarantee its own position by promoting that component as a brand in its own right. For example, Intel, positions itself in the PC market with the slogan "Intel Inside.

"No brand: branding may be construed as a type of branding as the product is made conspicuous through the absence of a brand name. "Tapa Amarilla" or "Yellow Cap" in Venezuela was simply recognized by the color of the cap of this cleaning products company.

Brand Extension and Brand Dilution: The existing strong brand name can be used as a vehicle for new or modified products. For example, many fashion and designer companies extended brands into fragrances, shoes and accessories.

Multi Brand: In a very saturated market, a supplier can deliberately launch totally new brands in apparent competition with its own existing strong brand to soak up some of the share of the market.Eg. P&G have 10 detergents in the market. Problem of Cannibalization.

Private Labels : Where theretailerhas a particularly strong identity this "own brand" may be able to compete against even the strongest brand leaders, and may outperform those products that are not otherwise strongly branded.

Crowdsourcing Branding: These are brands that are created by the people for the business, which is opposite to the traditional method where the business creates a brand.

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Branding in recession Fighter BrandLaunch a fighter brandEx. Marlboros Street BondAdidas Global Brand StrategyTo fulfill consumer demands Adidas adheres to the following principleAdidas and FootballStarted of supplying shoes to the West German National team at the 1954 world cup.Since the brand has been synonymous with football and being a sponsor at World cupSponsor of official kit of Brazil France in the pastAt present sponsor of European elites like AC Milan, Real Madrid, Bayern Munich and Chelsea Brand ambassador at present include Messi, Xavi Alonso, Del Piero, Thomas Muller, Benzema, Van Persie

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