POSITION THE BRAND
Everything on the shop/ needs to REFLECT THE REQUIREMENTS OF THE TARGET MARKET -
Menus tailored to THE REQUIREMENTS OF THE TARGET AUDIENCE
What is the brand Associated with
The brand is the promise to the customer.
It tells them what they can expect from the products or services and it differenciates the offering from that of the competitors. -
The brand is derive from who you are, who you want to be and WHO PEOPLE PERCEIVE YOU TO BE. -
founsation of the brans it the logo.
Website, packaging, promotional materials – which integrate the logo – COMMUNICATE THE BRAND -
The brand strategy is:
HOW, WHAT, WHERE, WHEN and TO WHOM you plan on communicating and elviery the your brand messages. -
Where you advertise
What you communicate visually an verbally.
What leads to a strong brand quity?
Consistent, strategic branding
Brand equity: the added value the products or services on your company has that allows you to CHARGE MORE FOR YOUR BRAND than what identicial, umbranded products command. The added value intrinsic to brand equity comes in the form of PERCEIVED QUALITY or EMOTIONAL ATTACHMENT. Defining a brand is a BUSINESS self discovery.
BENEFITS and features of my products or services?
What do CUSTOMERS AND PROSPECTS already THINK OF YOUR COMPANY -
What QUALITIES o you want them to ASSOCIATE YOUR COMPANY
Branding is a way to build a reputation, a company asset. -
Brand= idea, image of a product/service that CONSUMERS CONNECT WITH by identifying the name, logo,slogan or design fot eh company. -
Aim is to be recognized by more and more people and IDENTIFIED with a certain service of product when there are many companies offering the same service/product. BRAND VALUE?
The ATTITUDE OF THE BRAND. A foundational component of the brand embraced inside the organization. •
It deepends/solidifies over time
Ex. Never compromising, do more with less, embrace challenges, finger on the pulse
An EXPRESSION of the brand
A VISIBLE ASPECT of the brand portrayed OUTSIDE the organization -
Matures/evolves over time
EG. Inspiring, proactive, steadfast, creative, solution-focused, optimistic, confident, ingenious, vibrand, curious, down to earth, keen, passionate.
Why companies use branding
To create BRAND LOYALTY – a strong brand identity facilitates this •
To DIFFERENTIATE the products. Some markets are very compeitie wih similar products and a brand identity can HELP A CMPANY STAND OUT. •
To DEVELOP RECOGNITION & TRUST in products/services
To develop a BRAND IMAGE – something people can identify with.
Systematic esign, collection,a nalysis and reporting of data relevant to a specific marketing situation facing an organization. -
Help marketers understand CUSTOEMR SATISFACTION and purchase behavior. -
Help tehem asses market potential and market share
Measure the effectiveness of pricing, product, place and promotion activities. Process has 4 steps
Defining the problem and research objectives
Developing the research plan for collecting information
Implementing the research plan – collecting and analyzing the data 4.
Interpreting and reporting the findings
Exploratory research: gather preliminary information that will help define the problem and suggest hypotheses. Descriptive research: describe things, such as the amrekt potential for a product or the demographics and attitudes of consumers to buy the product
Causal research= to test hypotheses about cause and effect relationships. Eg. Would a 10% ecrease in the price increase sales sufficiently to increase profits? •
Secondary data can usually be obtained more quickly an at lower cost than primary data. •
Secondary sources can sometimes provie data an individual company cannot collect – info that either is not direcrtly available or would be too expensive to collect. Eg. To expensive for nestle to...
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