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By: Barkha Verma Sneha Sahai Himanshu Raj Kundanika Kamewal Kunal Grover
Identifies how the company plan to sell its products to the marketplace Documents how the people in marketplace think about its products and business Documents how its business positions its products and services contains strategies for selling A product strategy can encompass any number of products, depending on the nature of the business The company can have one strategy for each major product or the same strategy for all of them It 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 knowledge Provides client focus Gives shape and form to the sales messages Helps analysing the competition and position the products competitively Helps to price the products competitvely Keeps up-to-date, forward looking and pro-active
the business and help to achieve them Target market(s) It identifies to whom to sell the products. Target market can be described in several ways like geographic, socioeconomic and demographic characteristics Client needs - The needs of the people in the target market are what is selling. It helps in developing later components of the product strategy Product 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 sales Competitor 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 used Making product changes Documents the need to make changes to the products or services to keep ahead of the competition
favourable reception Product Re-positioning: Reviewing the current positioning and seeking a new position that seems more appropriate Product Overlap: Competing against ones own brand through introduction of competing products Product Scope: Deals with the perspectives of the product mix of the company Product Design: Deals with the degree of standardization of the product Product Elimination: Cuts in the composition of the companys business unit product portfolio New Product: Set of operations for introducing a new product either within the business or on the market Diversification: Developing unfamiliar products and markets through horizontal and vertical diversification Value Marketing: Delivering on promises made for the product or service
Examples:NIKE
NIKE
Products : every type of sport shoes,sports apparels,sipper s,bags and other sports equipments
Fitness enthusiasts
Target audience connects the brand with the effort and determination needed to succeed and is motivated to improve their own game, whether everyday running or basketball.
NIKE 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.
BRAND The 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. BRANDING Its how your customers relate to your company It separates you from your competition The objectives that a good brand will achieve include: Delivers the message clearly Confirms your credibility Connects your target prospects emotionally Motivates the buyer Concretes User Loyalty
Brand Vision Provides 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 contributions
Brand Position A 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.
Innovation
Five Principles of Effective Positioning Fit: Seek to leverage strengths of existing brand position Value: focus on the percieved benefits that customer value Uniqueness: Go where the customers are not Sustainability: 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 Contract It 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.
Successful Brand Based Communication Use all communication strategies to help achieve your corporate strategy and brand vision Web based Print Broadcast Space
BRANDING STRATEGIES
Individual Branding
Crowdsourcing branding
Branding Strategies
Brand Extension
Individual 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 the retailer has 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.
Cannibalization Ex Kodak
German National team at the 1954 world cup. Since the brand has been synonymous with football and being a sponsor at World cup Sponsor of official kit of Brazil France in the past At 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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