Survey
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
* Your assessment is very important for improving the workof artificial intelligence, which forms the content of this project
Creating value through brand strategies Alok Nanda What is a brand? • A brand is the most valuable real-estate in the world – a corner of the consumers mind. • A brand is a collection of perceptions in the mind of the consumer. Who owns the brand? • Today, we value the brand as an asset in the company balance sheet. • But the asset value is merely a license right to reach into the mind of the consumer where the brand resides. Thanks to the relationship you enjoy with the consumer. • The license is granted by the consumer. What are the elements a brand uses to manifest itself in the consumers mind? A brand identity • • • • • This includes the name The symbol or trustmarks The packaging The elements of purchase experience The product construct itself – its shape, smell, color, sound… • The advertising and PR. What are the strategies a brand creator can use to maximise value of the brand? • The elements of brand identity are very powerful if leveraged well • Advertising is the one most spoken about, but I’d like to focus on the others because: 1) We often confuse advertising for brand building. 2) You’ll see that with the disintegration of mass media – the role of advertising in some cases (not all) has all but vanished. 3) We must know when to use the huge power of advertising and when not (think of all the identity elements as an arsenal). Apple : A case study • The name : In a market full of ‘softs’ , a fruit? • A contemporary ‘lifestyle’ logo in a technology world. • The product shape, texture, functionality design – so uniquely Apple. • The experience : of usage – Ipod. The retail experience. • Oh, yes, the advertising too. Barista: A case study Building communities of consumers without advertising - A coffee bar in a land of tea? Advertising could never do it. - To live the coffee culture, you have to build an experiential brand. Logo No Smoking Signage Self-Service Signage Outside Food Signage Tray Mat New Serving Packaging Red Bull: A case study Building a cult brand • While Coke and Pepsi battle it out in India, making losses, Red Bull sells at Rs.70 a can. How? • We don’t sell Red Bull. We insist you try it when you’re tired. • Sampling post lunch. Or 2 in the morning. • Build mystique – How can you create a cult brand if it is recommended by personalities? • How about making the personality a real consumer? Absolut Vodka: A case study What came first: the bottle or the advertising? • Vodka. It’s colourless. And supposed to have no taste. Talk about building a brand with product parity! • Yet Absolut Vodka is a many million dollar brand. • Packaging can sometimes become the brand strategy. • And advertising merely reflects it. Conclusion: • The brand resides in the consumers mind. • If you don’t engage the consumers he’ll forget its there. • Or worse replace your brand with another more relevant and exciting one. • But engagement in today’s complex world is not possible thru a one dimensional approach. • Remember, if you want to create brand value, you need to leverage as many elements of the brands identity.