Presentation on theme: "Product & Brand Management The Brains Behind The Brands."— Presentation transcript:
Product & Brand Management The Brains Behind The Brands
My Background 15 Years of Consumer Marketing Procter & Gamble (Consumer Products) Disney (Home Video) Coca-Cola (Olympic Marketing) Feld Entertainment (Live Event Entertainment) Special Olympics (Charity) XFL Football League (TV & Professional Sports) Consulting (eBay, Citibank, Ford, many others)
What Is Brand Management? It is the group that oversee’s all aspect of a product, from marketing, packaging, sales & distribution strategies, pricing, overseeing the P&L, manufacturing and product improvements.
What Is Brand Management? You are literally the “champion” of the brand. It is your job to make sure it performs the best it can. Interface will all aspects of the organization: Finance, PR, Manufacturing, Product Development, Sales, Market Research, Advertising, etc. It’s the hub of the wheel.
Key Learning’s A brand is a living, breathing being. EVERYTHING COMMUNICATES! Packaging Product Price Advertising Word of Mouth Location
Advertising is Losing Effectiveness Too many ads promising benefits that aren’t delivered -- creating increasing skepticism. Internet is proliferating this feeling among consumers. Many think that the internet is a scam waiting to happen. Market fragmentation.
The Age of the Self Reliant Consumer Less reliant on others opinions and recommendations. Wants benefits, not features. Stressed for time. Tired of “data overload”. Wants just enough information to make an informed decision and get on with life.
What Does It Mean? To strike it rich, you have to offer consumers real, meaningful benefits that can make your brand stand out from the crowd to be:
The Importance of New & Different
First Law of Gravitational Marketing BENEFITS: A product is only as strong as the benefits it provides to consumers.
2nd Law of Gravitational Marketing REAL REASON TO BELIEVE – You must convince the consumer of the benefit and explain how you are going to deliver it (the reason-to-believe). Must use “Kitchen Logic”
3rd Law of Gravitational Marketing DRAMATIC DIFFERENCE – The only way to disrupt marketplace equilibrium is to introduce a benefit-and-reason-to- believe combination significantly different from what already exists.
Creating A Unique Brand Identity Find a unique benefit. Exploit that benefit to create a differentiation in the mind of the consumer. Convince the consumer that your brand is Different, Better, Special.
3 Parts For Building Brand Identity Specify a target audience Determine your unique benefit Explain your REASON WHY
Target Audience Who are you trying to sell to? Demographics / Psychographics What kinds of customers do you want to attract? What unique things describe them? Income level, Lifestyle, Priorities, Children, etc.
Benefit What is it you’ll do for them? Is it unique? Functional benefits vs. Psychological
Where To Look For Unique Benefits Problems consumers have with the product or category. Your Pet Peeves.
Life Currencies Money Information Time Energy Space Fun Fear
MY WORLD HEIRARCY My family & home. My job / income. My interests. People or things which can affect my family, home, job / income, interests. My neighbors & community. My state. My country. The world at large.
Passion Points The most successful brands and companies find a unique benefits which touches a nerve in consumers --- that evokes a strong consumer reaction. If your brand can successfully resolve the issue – you’ll win! Example: Krispy Kreme
Brand Positioning: The Cornerstone The brand strategy is the single most important item in all of marketing. It defines EVERYTHING about what your brand is to your consumer.
For homemakers, Dow Bathroom Products are the easy way to get a great clean shine for your tub, tile and toilet. That’s because only Dow Bathroom Products contain scrubbing bubbles that cut through dirt and grime clean to the shine! Brand Positioning Statement
Brand Positioning Statement For cold sufferers, maximum strength Contac offers 12 hours of non-drowsy and continuous Cold relief from congestion and sinus pressure thanks to it’s time-release technology.
NO PRODUCT NAME! WHAT IS IT?
Common Marketing Problems Talk about features, not benefits Fail to Differentiate Fail to communicate in Kitchen Logic Don’t understand the difference between WISHES, WANTS & NEEDS.
Common Factors for Success NEW & DIFFERENT! Address a consumer need BETTER than anything else out there. Communicate it clearly. BRAND IT WITH A GREAT NAME! Demonstrate the benefit with a sound reason why.
Don’t Rely On Low-Price As Your Point of Differentiation Any fool can cut prices. Consumers don’t buy the lowest price, they buy the most benefits for the dollar! The customers you attract with “low price” will leave you in a heartbeat when they find the next deal. Does not build a long-term customer base.
Find A Point of Difference This is the key to long-term growth, building a brand name and image. Communicate this point of difference in EVERYTHING you do. Different, Better & Special.