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WHAT ARE BRANDS
GOOD FOR
MIT Sloan Management ReviewNiraj Dawar.
“BRANDS ARE ANINDESPENSIBLEPART OF MODERNBUSINESS”
BECAUSE WHY GOD
WHY?
HOW ?
EFFECT ?
BRANDS BECAME
“THE INFORMATION REVOLUTION IS MAKINGCONSUMER DISAGGREGARTION VASTLY MOREEFFICIENT & PROFITABLE THAN AGGREGATION,THE TRADITIONAL SOURCE OF BRAND POWERR”
WHAT ARE BRANDS GOOD FOR?
TASKS CAN BE
PERFORMED BETTER
TASK BECOME LESS
EXPENSIVE
EFFECTS OF CONSUMER SEGMENTATION
MORE PROFITABLE
AT THE LEVEL OF
CONSUMER SEGMENTS
WHAT ARE BRANDS GOOD FOR IN ERA OF SEGMENTATION
1. CONSUMER RELATIONSHIP
RELATIONSHIPS ARISE WHEN A BRAND REPEATEDLY AND CONSISTENTLY FULFILLS ITS STATED PROMISE
but such connections are one way mass communication of benefits and association and these
tends to BESHALLOW
TWO WAY COMMUNICATION HAS BECOME A DEFINING FEATURE OF RELATIONSHIP
WHY?
HOW ??
COMPANIES WITH SEGMENTED MARKETING
STRATEGIC TASKS TACTICAL TASKS
BUILD RELATIONSHIP:EARNING TRUST AND CREDIBILITY
DRIVING TRIAL AND TRAFFIC AND INCREASE SALES VOLUME
COMMUNICATING KEY BENEFITS:STAKING A POSITION
BUILDING THE LIKELIHOOD OF REPURCHASE
CJHARGING PREMIUM PRICE RESPONDING TO COMPETITIVE MOVES
EACH BRAND BECOMES A TOOL IN TOOLBOX OF THE MARKETER WHOSE JOB IS TO MANAGE CONSUMER RELATIONSHIPS.
BRAND IS A TEAM PLAYER RATHER THAN INDUVIDUAL
2. CHANNEL RELATIONSHIP
REATAILING NOWADAYS IS NOT ABOUT COLLECTING RENT ON SHELF SPACE
RETAILER MUST ADOPT RELATIONSHIPBASED APPROACH TO MARKETING
RETAILERS EFFORTS TARGETS NOW
CRAETING STORE BRAND AWARENESS
BUILDING STORE LOYALTY
PROMOTING PROFITABLE PRIVATE LABLE PRODUCTS
RETAIL CHANNEL HAS BECOME A MAJOR FOCUS OF MANUFACTURER’S MARKETING EFFORTS
DISAGGREGATION PROVIDES MANUFACTURERS WITH A NEW MEDIUM TO INFLUENCE CONSUMER DECISIONS THAT IS INDEPENDENT OF RETAILER
DISAGGREGATION FAVOURS RETAILERS BY INCREASING THEIR CREDIBILITY IN ASSEMBLING AND ASSORTMENT OF BRANDS
BEFORE
AFTER
MANUFACTURERS REALIZE BRAND’S CHANCE OF SURVIVALWILL BE BETTER IF THEY BECOME PART OF RETAILER’S VALUE PROPOSITION TO CONSUMER SEGEMENT
3. BRAND MANAGEMENT ORGANIZATION
BRAND MANAGEMENT SYSTEMS ARE NOT WELL SUITED TO MAKE GOOD USE OF VALUABLE CONSUMER INFORMATION
WE NEED
SOME CHANGES NEEDED
SO CAN WE SAY BRANDS GOOD IN HERE?
INITIALLY BRANDS WERE AN EXCELLENT MEANSOF DEVELOPING AND COMMUNICATING A DIFFERENT VALUE PROPOSITION IN THE MARKET
NOW A MANUFACTURER’S BRAND MIGHT ASPIRE FOR THE ULTIMATE PRIZE:
A GOOD NEEDED RELATIONSHIP WITH CONSUMERS
CREDITS
THANK YOU >>>>
>> DISCLAIMER
www.IIMInternship.com
DURING AN INTERNSHIP BY PROF. SAMEER MATHUR,
IIM LUCKNOW
CREATED BY :
NAGARJUN KS
SIT,TUMKUR