• Mauris euismod rhoncus tortor
  • Sed nunc augue
  • Why is it needed
  • Where can I get some
Showing posts with label Strategic Brand Management. Show all posts
Showing posts with label Strategic Brand Management. Show all posts

BRAND TRAPS | What are they ?

We cannot dispute the value of a strong brand image in today's market. Brands like Johnson & Johnson, Marks and Spencer, the Tatas, have proven this theory time and again.
When you are in the process of assessing whether the 'Brand' is perceived by your target audience just  as you intended,  you should, firstly, have a clear vision of what you want your brand to be perceived as.
The communication strategy, tactics all emerge from this. Also, once you know what way to go, you can easily avoid taking steps that will inevitably lead you to the BRAND TRAP - the major cause of brands losing their credibility and the identity.
 
David A. Aaker in his book “Building Strong Brands”, identifies four such traps.

  • PRODUCT FIXATION TRAP
This trap signifies of the brand been defined by only one product. In this case there is a restriction to diversify tangibly and intangibly. The attributes are not the relevant bases for customer decisions and competitive dynamics.  In this case when the product attributes are considered as basis of brand identity are subject to certain limitations, which are as follows: -
  • ·         Can be easily copied
  • ·         They execute a rational customer
  • ·         They lack strategic flexibility
  • ·         The fail to differentiate


E.G: - XEROX- When they came out with this campaign where they give more priority towards the product rather than the intangible factor(The imagery attached with the product). Their identity as a brand suffered. This is because if a product category dies, the brand dies.
The moral is the brands should extend itself within its defined boundaries.

  • BRAND IMAGE TRAP
The brand identity is always forward looking. It is always said that image is short-lived but identity is progressive. If you analyze the strengths of the brand, understand what is and try to work on the shortcoming or the threats it may face in the future. There is a very high possibility of you being the one who is not dictated by the market.

E.G: - Tommy Hilfiger once removed the logo of their shirt to introduce some new design in the market. They did not realize that the identity of the brand as perceived by the customer was a shirt with logo on it. The new strategic move did not go so well, that they had to come back to the logo. This is an answer that Image is a subset of brand identity but not the brand identity.

  • BRAND POSITIONING TRAP

Positioning is a part of the identity. We identify a value proposition for a brand, positioning is done and thus a brand image is being perceived by the target audience.

E.G: - Fevicol is not known as a brand, but by it positioning as “the strong adhesive”.

  • EXTERNAL PERSPECTIVE TRAP

When you are not taking into consideration the opinion of the internal customers that are employee. If Employees are not bind towards the identity of the brand thus they are able to work for it and pass on to the customer.

E.G:- Gillette, in the organization they encourage the employees to grow beard so that they can test the quality of the product and whether it s attributes are in relation the brand identity.



Read More

HARRY POTTER IS HERE TO STAY


They were just kids in 1997 and now these kids have grown up and starting to fading out the limelight and the magical world. The brand Harry Potter has had intrinsic mental associations with its target audience, be it the magical world of Hogwarts, the wand, the breaking walls, good always wins over evil or just a touching story about a boy making big because he was  “the chosen one”. This brand like any other is here to stay with its Potter more website to be launched recently. J.K Rowling venture for bringing about profound social engagement and commercial value to the brand will help the fanatics relive Harry Potter. This is a great idea that the writer has come up to maintain Brand Resonance. A new platform demands a lot of work, but if it proves to be successful, a brand community is here to stay like HOG( Harley Owners Group) of Harley Davidson
Read More

INTRODUCTION TO BRANDING

Branding is an image or perception you built for your organization in the minds of the customer/target group.
Perception determines the inclination towards different brands. Mental Association with each brand keep on changing with the business environment, reaction to changing needs and wants of the customer.
There is a particular cycle that has to be followed: -


The companies advertise after analyzing certain factors like target group, demographics, taste and preferences etc. The help in creating a certain experience so that a particular mental connect between customer and the brand can be built. The mental association helps in establishing a certain perception in the minds of the customer about the brand. The result is a profound bran d recall that helps in the final purchase of the product

Brands are conditional assets, It tells us that if the brands are not support by a good product, after sales service, in the long run it would not exist for a prolonged time period .
E.g. Apple as a brand is being supported by its innovative product and commendable after sales service. This is the reason that it is the number one brand at present. Other examples are Amul, Ferrari, Tata etc

Branding and its relevance to a certain extent goes hand in hand, If the brand is relevant in accordance with the need of the customer and the changing trend the brand prospers and vice versa.
E.g. Polaroid filled a case against Kodak of coming out with an instant camera and from then the brand has failed to exist in the market. It was because to survive in the market you need to change and diversify, which is only possible if you have competition.

The choice that has to made amongst the brands depends on a certain evaluation criteria, which includes the features, price, the way it is has built the mental association etc.  

Point of Parity: -
This explains that certain features are essential for any product to enter into a category plus a certain materialistic pull in the form of features, price , bonus etc, to be distinctive.
E.g. Company A provides you detergent for Rs. 28/kg and Company B is providing you the same detergent with a different brand name for Rs. 28/kg plus a chance to win a Swatch watch.

Branding helps in transforming the product category . E.g. – Starbucks – it started with tea, started providing coffee, sandwiches, Wi- Fi connectivity, convenience in payment etc.
Read More