Brand Equity Analysis:

Brand equity is an intangible value-added aspect of a product or service offered by an

organization which makes its offers (unique entirely or to some extent) than its
competitors. When a brand is well recognized and preferred by the customers, it refers to
the fact that the company has strong brand equity.

In case of Brand Equity Analysis of Lab Aid, we are considering the following factors:

- How they have positioned themselves in the market and how it is being
recognized by the consumers
- The level of awareness among people regarding the brand
- The level of loyalty among the consumers

When it comes to positioning themselves in the market, Lab Aid portrays itself as an
organization that is looking forward to provide best quality care through efficiency and
kindness in an affordable price.

Now as far as the level of awareness among the consumers is taken under consideration,
Lab Aid have successfully managed to hold a strong position in the context of
Bangladesh where people from almost all social status recognizes the brand whenever it
comes to services like diagnostics in particular.

The achievements can be credited to the doctors to some extent considering the fact that
often they refer their patients to conduct their medical tests through Lab Aid which
helped the organization to create an image in the market that represents it as an entity that
can be relied on and in the long run it has become one of the top 3 brand names in the
context of Bangladesh (particularly in Dhaka city).

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So we can say that availability of its service centers, assurance of quality service and
competitive pricing has made it one of the top three brand names in the context of
Bangladesh in the diagnostics industry.

Brand elements:

As far as Lab Aid is taken under consideration, following brand elements are being used
by this organization in the market:

The name itself

URLs
Logo
Slogan

Name

The name itself is one of the key brand elements of Lab Aid as it is a well recognized
name in our country in the diagnostics industry. The name Lab Aid is assisting the
institution to enhance its brand image in following ways:

- It is memorable and easy to pronounce

- Relevant to the service it offer
- Evoke positive mental image
- Simple
- Sound appropriate
- Possibly, translate well in other languages too

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URL

Lab Aid is consistently trying to make its position stronger in the online world through its
website where considerable amount of information regarding its service, features and
background history can be found.

http://labaidgroup.com/

Logo

Lab Aid obtains a number of logos that represents its key operations. However, the logos
(other than the one for Lab Aid Cardiac Hospital) are not promoted intensely. So they do
have a scope to improve their promotional campaigns by focusing more on the symbolic
representation.

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Slogan

“Care First”- this is the slogan that Lab Aid uses as an initial representation of their
service and its quality to the market. However, just like the logo of its core business
functions, the slogan or tag line itself is not being promoted at the mass level as it should
have been.

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Marketing Mix

Product

Lab Aid is mainly a service oriented organization with key focus on diagnostics and other
medical assistance through its specialized and cardiac hospital. Although medical
products like medicine can be found at their service centers but this is not a part of the
core business function of the organization

Price

In terms of price the entire pricing strategy of Lab Aid is very much complex considering
all the different types of medical and diagnostics services they are offering to the market.
However, in comparison to many others, the pricing is fairly reasonable and considered
as affordable.

Here one thing is necessary to keep in mind the target market of the organization is the
mass population of Bangladesh. They do not target any specific group of consumers.
People from the lower class to upper class, everyone is their target customer. This is
something that justifies their “reasonable pricing strategy”.

Place

Lab Aid offers its service through 6 of its diagnostics centers and hospital. Four out of six
diagnostics centers are located at Dhaka in the following locations:

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 - Gulshan
- Dhanmondi
- Uttar
- Old Dhaka

While two others are resided at Chittagong and Sylhet respectively. The Lab Aid Cardiac
and Specialized hospital division is located at Dhanmondi where the organization offers
its medical service.

Promotion

Currently Lab aid is not giving much emphasizes on TVC, newspaper, billboard or other
conventional promotional tools but is mainly focusing on the reference based advertising.
Under this program Lab Aid has contract with many doctors who refer their patients to
execute medical tests at Lab Aid- a strategy that Lab Aid terms as “indirect advertising”.
The main advantage of such promotional campaign is that people are feeling safer and
comfortable to take the service from this organization as they are being directed by the
professionals, something that is playing a key role to boost the brand image of lab Aid.

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Point of difference:

In terms of choosing points of difference, broadly, the two most important considerations
are, consumers find the POD desirable and believe that the firm has the capabilities to
deliver on it. If both of these considerations are satisfied, the POD has the potential to
become a strong, favorable, and unique brand association. Both of these broad
considerations have a number of specific criteria. The point of difference is a key element
in a positioning statement. It is the most compelling and motivating benefit that the brand
can own in the hearts and minds of consumers relative to the competition.

Differentiation increases margin and customer loyalty, and lessens the likelihood the
customer will switch to another brand, also referred to as Brand Benefits or Benefit
Differentiation.

A company must have some point of difference to better position their brand in the
market place. In case of our brand, Labaid they have several point of differences to
differentiate their brand in the eye of consumer.

Right blend of price and quality: Labaid is claiming that, they are providing high
quality services in an affordable price. They think nobody in the market has this skill,
either others are providing high quality services in a high price or they are providing low
quality services in a low price.

Large number of doctors: Labaid has huge number of qualified full time doctors and
Labaid think that no private hospital has this number of doctors to provide treatment. So
this is also creating a point of difference for Labaid.

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Location: Third and last point of difference for Labaid is their location. They think this is
the ideal location where people can reach and communicate very easily compared to their
main competitors.

Points of Parity:

Points-of-parity are associations that are not necessarily unique to the brand and may in
fact be shared with other competitors. Category points-of-parity are associations
consumers view as essential to be a legitimate and credible offering within a certain
product or service category. They represent necessary but not sufficient conditions for
brand choice. Category points-of-parity may change over time due to technological
advances, legal developments or consumer trends.

Labaid is maintaining their point of parity by designing their service environment. They
also take appointments by phone, they have 24 hour emergency service, ambulance
service, home service blood collector. This all are creating a point of parity with their
competitors.

Brand Identity:

 Excellent customer service

 Strong medical staff reputation

 Preferred hospital provider among physicians

 Reputation for clinical outcomes

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 A leader in healthcare technology

 A teaching and research focus

 Financial stewardship

 Attractive, modern facilities

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Recommendation

Reintroducing Television Ads

Lab Aid has discontinued airing its television ads although they were quite effective in
increasing brand awareness and enhancing Lab aids image as a highly competent and
sophisticated hospital. In a sense it was a bad decision to discontinue those successful
ads. Therefore, it is recommended that, lab aid restart its TVC campaign. It may require
phasing out some of its old ads and coming up with some new ads. The objective of the
TV commercials should be increasing brand awareness, promoting their highly qualified
pool of doctors, state of the art technology and most importantly, informing people about
Lab aid’s ability to provide international standard health care service. Lab aid should
follow continuous promotional scheduling and air ads all round the year with required
level of intensity.

Removing the family brand name “Lab Aid” from its

real-estate SBU

Lab Aid is suggested to remove its real-estate SBU “Lab Aid Properties Ltd” from the
‘Lab Aid’ family brand and give it some other name. By using ‘lab aid’ family brand
name, it has in effect made a category extension of this brand. ‘Lab Aid’ has successfully
established itself as a high class hospital and medicare service provider, in the minds of
the public. Hence, this expansion into an unrelated industry, posse a threat of diluting the
brand meaning.

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Moreover, public image of the parent brand may suffer. People expect hospitals to be
highly responsible, which are driven by a mission to serve the society not only by profit
maximizing motive. Now, the new brand extension may create an unfavorable image for
the brand. So, the real-estate SBU should be disassociated from the Lab aid brand.

Engaging in CSR Activities and making charities in

rural hospitals

Engaging in activities related to Corporate Social Responsibility and charity will greatly
enhance the image of Lab Aid. There is a perception among the general public that, the
sophisticated premium hospitals are charging excessively high bills and making money is
the only concern of these hospitals. Lab Aid can get out of this negative perception by
engaging in CSR activities. It will help to prove itself as a responsible corporation.
Lab Aid is seriously suggested to make some donations to the rural hospitals. This act of
charity will transmit a clear message that, Lab aid supports the cause of ensuring health
care service to everyone not limiting it to the rich.

Introducing a guideline to ethically handle cases of

medical negligence

There has been two incidence of medical negligence that occurred in Lab Aid hospitals.
In Lab Aid cardiac one patient was not properly stitched after operation. In the other case,
a new born baby experienced skin burns due to a misplaced heater. The hospital
administration failed to respond to these cases in a prompt and responsible manner. They
attempted to discharge the patients and hide the facts from the relatives. This approach
instigated spread of a barrage of negative word of mouth, especially in the internet.
Therefore, it is strongly suggested that Lab Aid introduce a guide line to handle these
sorts of incidents, which will ensure the patient full medical support and proper
compensation.
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Launching a new brand extension: “ Lab Aid Maternity
& Fertility Centre”

Lab aid has a strong Maternity and fertility department which has the potential to expand
and become a sub-brand of Lab Aid like the Lab aid Cardiac. Every year a great number
of people from Bangladesh travel to Thailand, India, Singapore and other countries for
treatment of infertility. Lab Aid can attract them by offering the advanced treatment here
in Bangladesh at a lower cost and hassle. Lab Aid was successful with this strategy in
case of Lab Aid Cardiac in the past.

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