EVOLUTION OF MARKETING PRODUCTION CONCEPT PRODUCT CONCEPT SELLING CONCEPT MARKETING CONCEPT HOLISTIC CONCEPT
SIVA MODEL This system is basically the four Ps renamed and reworded to provide a customer focus. Product -> Solution Promotion -> Information Price -> Value Place ->Access Marketing today is done at two levels a)Strategic Marketing b) Operational Marketing
What is a Brand? AMA: “A name, term, sign, symbol to identify and differentiate the goods and services of one seller from those of the competitors.”
Role of Brands Helps consumer Identify and evaluate products Make faster purchasing decisions Reduce risk and assign responsibility to a particular manufacturer Helps firms Simplify product handling Signal a certain level of product quality Brand loyalty provides security of demand
ATTRIBUTES SHARED BY STRONG BRANDS Excels at delivering the benefits consumer desire Stays relevant Pricing is based on consumer perceived value The brand is well positioned The brand is consistent
Scope of Branding It involves creating mental structure & organize knowledge and services. Key is that consumer must not think that all brands in the same category are same. Brand differences often are related to attributes or benefits of the product. It can be applied anywhere a consumer has a choice.
What is brand equity? “ an intangible asset that depends on association made by consumer”.
Building And Managing Brand Equity Introduction Elaboration Fortification
Alternatives Means To Brand Equity Licensing Co-Branding
Managing Multiple Brands Single Brand Identity Umbrella Multi-Brand Category Family Name
Key Challenges In Brand Equity Measurement Measure the importance of “brand” In the consumers product selection. To dissect that measure of “brand” and determine its key contributing content.
A CASE STUDY OF About P&G SLOGAN-Touching Lives, Improving Lives P&G is credited with many business innovations including brand management, and “Connect & Develop” innovation.
OPERATIONS Company ‘s operations are categorized into 3 “Global Business Units” with each Global Business Units divided into Business Segments BEAUTY oBeauty segment oGrooming segment Household care oBaby care and family care oFabric care and Home care
Health & Well-Being o Health Care o Snacks coffee and Pet care segment
MARKETING STRATEGIES OF P&G CUSTOMER KNOWLEDGE-studies its customer both final consumer & trade. It prints its toll free number on every product LONG-TERM OUTLOOK-P&G takes time to analyze each opportunity and prepare the best product PRODUCT INNOVATION-P&G is an active product innovator as well as idea inovator.
STRATEGIES….. QUALITY STRATEGY-P&G designs products above average quality &continuously improves them. LINE-EXTENSION STRATEGY-P&G produces its brand in several sizes and forms. CATEGORY-EXTENSION STRATEGY- P&G often uses its strong brand name to launch new products.
STRATEGIES…. HEAVY ADVERTISING &MEDIA PIONEER-spends $3billion a year. MULTIBRAND STRATEGY-creates several brand in same product category. AGGRESSIVE SALES FORCE-close ties with retailers,notably Wal-Mart. COMPETITIVE TOUGHNESS-spend to out promote new competitive brand.
STRATEGIES…. BRAND-MANAGEMENT SYSTEM-one executive for each brand, now the system is modified so that each brand is run by a category of managers.
IS MARKETING SELLING OR BUILDING BRANDS? While producers selling a product focused on the product getting sold faster and increasing revenues, those offering brands aim at offering a value proposition to the customer in order to achieve total customer satisfaction. It can easily be said that selling is outdated in today’s arena.
Consumer survey The objective of the survey was to find out: Has Branding worked better than selling for both consumers and customers? What do consumers buy today “a product or a brand”? How do consumers react to brands?
Some key questions and their responses Q1.Do you think attachment of a brand name to a product ensures quality? Q2.Do you feel at a loss when you do not get the brand of your choice? Q3.Do you have a problem in buying a brand you did not ask for in the first place?
60% of the respondents ranked Quality as the most important parameter that they look for in a product. 55% respondents said they do not buy unbranded commodities being promoted at different outlets. On being asked to name a company for some specified products each respondent named a BRAND. What would you do if the brand you ask for is not available in the first shop?
Analysis The result of the survey clearly points out that Customers look for Quality and associate Brand with quality. Customers in most cases are brand loyal and apprehensive about unbranded products. Majority of customers would rather hunt for a brand rather than settling for what is available.
Conclusion Branding works more effectively than selling for both marketers and consumers today. Most present day companies are going for branding.