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Chapter 7 Branding and Positioning (7.2 Building a brand while the…
Chapter 7
Branding and Positioning
The concept of a brand
-Branding is the use of name, term, symbol or design - or a combination thereof - used to identify a product.
7.2 Building a brand
while the customer component is critical a brand needs to appeal to a broader range of stakeholders to meet the requirements of building a business. These audiences are defines as follows:
Shareholders
Industry regulators
Internal Staff at all levels
Media
Customers
Communities
Intermediaries
Suppliers
Other funders
Industry Analysys
Brand Identity Elements
The identity of a brand is the creation of a persona and visual encapsulation which, over time, customers will use in decision making.
Brand Identity Elements are as follows:
Logotype
The letter form used to express the name of the brand. Some companies devoid logos and just use logotype. i.e.Coca-Cola, Kearney
Colour
Dominant use of color aids customer awareness and recall, forming and integral and critical part of the brand building process.
Name
Brand names can be classified as:
Semi-Descriptive.
The name partially conveys the meaning through abbreviation, use of acronym or deviation from another language. i.e. MTN, Nike
Invented or blue sky.
Names with no direct meaning or derivation. i.e. Google
Descriptive.
The name explains what the company does in general terms. i.e. Standard Bank
Logo
A creative design option available to a brand to symbolize its fundamental values and meaning and set it apart from its competitors.
The Brand Advantage(TM) Model
The three core elements requires for brand building.
Design.
The creative process that brings a brand to life. The design must be a manifestation of the
brand strategy
and not just for the sake of design. It is the initial brand identity or brand rejuvenation process.
Implementation.
The practical and physical aspects of the brand. It is important that marketers dedicate adequate time, resources and commitment to the brand implementation process.
Strategy.
The development of an appropriate brand strategy that is supportive of the business and the attainment of of strategic goals and business metrics.
7.3 Positioning
The position or placement of each competing brand in the mind of the customer.
The positioning process
Deciding on Brand differences.
Points of difference (POD)
are attributes or benefits that consumers associate with the brand which can not be found in the same extent in competing brands.
Checklist for ensuring that differences are customer based:
1.
What are the main benefits you deliver for your most important customers?
2.
Do you deliver these for all your customers?
You should be delivering generic category benefits to all customers.
3.
Do your competitors offer the same benefits?
If they do not then these are not generic category benefits.
4.
How regularly are you monitoring your performance on these benefits?
5.
Are you proud of simply being 'Better' ?
Differentiation of Product/Services.
Physical differentiation.
Can often be evaluated through a set of objective physical characteristics. eg) car features (Table 7.2)
Perceptual positioning
Takes into account the many non-physical, subjective factors that may influence how a customer differentiates one offering from another. *Used when customers cannot identify any direct physical differentiating factors of the product or service.
Establishing Category Membership.
Marketers have the opportunity to assist customers to categorize their product.
Marketers establish a brands
category membership
by employing
Points-of-Parity (POP)
to emphasize the way in which the brand is the same as other leading brands in the category.
Positioning Statement
Once a POP and POD has been established, companies need to establish positioning statement which should answer the following questions:
Who are the chosen customers?
Which set of needs is fulfilled?
Why is this offering the best to fulfill those needs?