Chapter 3 Lecturer Md Shahedur Rahman *BRAND POSITIONING & VALUES

Brand Positioning3.*Is at the heart of the marketing strategy

. . . the act of designing the companys offer and image so that it occupies a distinct and valued place in the target customers minds.Philip Kotler

Determining a frame of reference3.*Marketers need to know:Who the target consumer is ?Who the main competitors are ?How the brand is similar to these competitors ?How the brand is different from them ?

Target Market3.*A market is the set of all actual and potential buyers who have sufficient interest in, income for, and access to a product. Market segmentation divides the market into distinct groups of homogeneous consumers who have similar needs and consumer behavior, and who thus require similar marketing mixes.Market segmentation requires making tradeoffs between costs and benefits.

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Example of the toothpaste market 3.*Four main segments:Sensory: Seeking flavor and product appearanceSociables: Seeking brightness of teethWorriers: Seeking decay preventionIndependent: Seeking low price

Criteria for Segmentation3.*Identifiability: Can we easily identify the segment?Size: Is there adequate sales potential in the segment?Accessibility: Are specialized distribution outlets and communication media available to reach the segment?Responsiveness: How favorably will the segment respond to a tailored marketing program?

Points-of-Parity 3.*Points-of-parity associations (POPs), on the other hand, are not necessarily unique to the brand but may in fact be shared with other brands. Category Points of Parity: Attributes and Benefits that exist at the generic and expected level

Points-of-Difference3.*Points-of-difference (PODs) are attributes or benefits that consumers strongly associate with a brand, positively evaluate, and believe that they could not find to the same extent with a competitive brand.

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Brand Positioning Guidelines3.*Two key issues in arriving at the optimal competitive brand positioning are:Defining and communicating the competitive frame of referenceDetermine category membershipWhich products or sets of products does the brand compete?different category often result in different competitive frames of reference and thus different POPs and PODS? Choosing and establishing points-of-parity and points-of-difference

Choosing POPs & PODs3.*Desirability criteria (consumer perspective)Personally relevantTarget customer must find the POD personally relevant and importantDistinctive and superiorFind a viable basis for differentiationBelievable and credible

Choosing POPs & PODs3.*Deliverability criteria (firm perspective)Feasible Can firm actually create the POD?ProfitablePre-emptive, defensible, and difficult to attack

Attribute and Benefit Trade-offs3.*Price and qualityConvenience and qualityTaste and low caloriesEfficacy and mildnessPower and safetyUbiquity and prestigeComprehensiveness (variety) and simplicityStrength and refinement

Strategies to Reconcile Attribute and Benefit Trade-offs3.*Establish separate marketing programsLeverage secondary association (e.g., co-brand)Re-define the relationship from negative to positive

Core Brand Values3.*Set of abstract concepts or phrases that characterize the five to ten most important dimensions of the mental map of a brand Relate to points-of-parity and points-of-differenceMental map Core brand values Brand mantra

Laddering the brand Magic*Magic has got spicy mint flavor(attribute) which removes bad breathe (benefit) which keeps my prestige (Values).

Examples: of International brands*Colgate isProtectionLux isGlamourFedexisOvernightAxeis Opposite attractionVolvoisSafety Qatar Airlinesis5 star

Examples: of Bangladeshi brands*Spring isNaturalFruitikaisPureXpelisStops Mosquito IrritationMagicis Removes bad breathe

Brand Mantras3.*An communication of the heart and soul of the brandSimilar to brand essence or core brand promise Short three- to five-word phrases that capture the convincing essence or spirit of the brand positioning and brand values ConsiderationsCommunicateSimplifyInspire

Designing the Brand Mantra3.*The term brand functions describes the nature of the product or service or the type of experiences or benefits the brand provides. The descriptive modifier further clarifies its nature. The emotional modifier provides another qualifierhow exactly does the brand provide benefits, and in what way?

Designing the Brand Mantra3.*

EmotionalModifierDescriptiveModifierBrandFunctionsNikeAuthenticAthleticPerformanceDisneyFunFamilyEntertainmentFunFolksFood

Internal Branding3.*Members of the organization are properly aligned with the brand and what it represents.Crucial for service companies

Brand Audit3.*Externally, consumer-focused assessementA comprehensive examination of a brand involving activities to-assess the health of the branduncover its sources of equity, and suggest ways to improve and leverage that equity

It includes brand vision, mission, promise, values, position, personality, and performance

Importance of Brand Audits 3.*Understand sources of brand equityFirm perspectiveConsumer perspectiveSet strategic direction for the brandRecommend marketing programs to maximize long-term brand equity

Brand Audit Steps 3.*Brand inventory (supply side)How all the products and services sold by a company are marketed and brandedUp to date pofile

Brand exploratory (demand side)What consumers think or feel of a brand?

Brand Inventory 3.*A current comprehensive profile of how all the products and services sold by a company are branded and marketed:Brand elementsSupporting marketing programsProfile of competitive brandsPOPs and PODsBrand mantra

Brand Inventory (Cont.)3.*Suggests the bases for positioning the brandOffers insights to how brand equity may be better managedAssesses consistency in message among activities, brand extensions, and sub-brands in order to avoid redundancies, overlaps, and consumer confusion

Brand Exploratory 3.*Provides detailed information as to how consumers perceive the brand:AwarenessFavorabilityUniqueness of associationsHelps identify sources of customer-based brand equityUncovers knowledge structures for the core brand as well as its competitors

Brand Audit Outline 3.*Brand exploratoryBrand associationsBrand positioning analysisConsumer perceptions analysis (vs. competition)

Summary of competitor analysisSWOT analysisBrand equity evaluationStrategic brand management recommendations

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