Young Marketers Elite 3 – Assignment 1.1 - Liêm&Vy&Vân

  • Published on
    10-Feb-2017

  • View
    146

  • Download
    0

Embed Size (px)

Transcript

  • Trng Lim

    Thanh Vy

    Thin Vn

  • Without PROFIT, without money from consumer,

    company can not survive

    To survive, it has to get consumer. By how?

    Let consumer knows? By how?

    Good wine needs no bush. No, lots of luck needed.

    DO MARKETING

    Company wants more

    than to-survive, it wants

    more profit. I know.

    Do marketing well, win the game of

    having big consumption

    To have more consumption, more profit, company should:

    AGENDA

    What is Marketing?

    What is Branding?

    Distinguish Brand and Product.

    Is it better if we have better brand

    than better product?

    Why do we have to build brand?

    Brand love curve. How to be a

    beloved brand?

  • MARKETINGMarketing is a process of using all resources of company to satisfy customers demand, to be performed byall departments of the company and based on the strategic planning of marketers, aims to bring profit tocompany.

    Co-creation Communication Character buildingValue

    management

    The 4Ps

    (Product, Price, Place, Promotion)

    The STP

    (segmentation, Targeting, Ppositioning)Brand building

    Future

    Today

    Co-create their

    own product and

    experience

    in their own

    communities

    look outside their

    communities for

    admirable

    characters

  • BRAND

    A Brand is what perceived in the minds and hearts of the consumer, consistently delivered by the experience.

    A brand helps encourage someone to buy a product but does not explicitly say buy me.

    SO, what does BRAND say?

    It says: This is what I am. This is why I exist. If you agree, if you like me, you can buy me, support me, and recommend me to your friends.

    The more consumers love brand, the more powerful and profitable that brand will be

    Role of the BRAND

  • Is an object

    Product perform a function, => rational decision to compare which one to buy

    Is a personality

    Brand offers an emotion=> emotional decision

    Made by the company, built in factory, can be purchased

    Made through consumers perception, built from trust and relationships

    Quickly out-dated

    Timeless

    Can be copied, replaced Unique. It can beat the enemies

    Tangible to the senses Idea with intangible

    fulfill peoples need fulfill peoples want

    Ex: What is in Aquafina product? Pure waterWhat is in Sapuwa product? Pure water

    Ex: What is in Aquafina brand?

    trust

    High qualityfashion

    pure

    activeness

    - encompasses marketing and communication message to promote a particular product

    - conveys benefits of the given product being marketed.- Return: sales

    - Business branding = person building a reputation. It is a driving force behind what, why, how company do- establishes the company's image and strengths- Return: LOYALTY (which leads to more sales)

    Thats why:

    Dont misunderstand!

    Product marketing Branding

  • So, having better PRODUCT is better than having better BRAND?

    There are no superior product. There are ONLY SUPERIOR PERCEPTION in consumers mind=> We need to WIN CONSUMERS MIND. Occupy consumers perception. HOW?

    Ex 1: What happened when J.K. Rowling wrote a novel The Cuckoo's Calling andhad it published under a different name as Robert Galbraith? "The Cuckoo's Calling" sold less than 1,000 copies by the author Robert

    Galbraith Then, word got out that the book was actually written by J.K. Rowling, it jmped

    to best-seller lists and 1.1 million copies were sold.So, what's more important, the book or the author? What's more important, theproduct or the brand?

    => BRAND wins!!!

    Ex 2: Developing a better smartphone than iPhone is a simple task compared to developing a better perception than iPhone in consumers' minds. In fact, it's almost impossible -- unless Apple does something stupid!

    Vs.

    Another:

  • Brand love curveis a path showing the stronger

    connection between brand and

    customerss mind through stages.

    Customers go through with the connection-to-brand getting

    stronger

    INDIFFERENT LIKE IT LOVE IT BELOVED BRAND

    Every brand sits at different places

    on the curve. Understanding how

    beloved the brand is will help

    marketers choose strategy to push it

    to be more loved

    NO OPPINIONNot aware

    Confusing

    Not interested

    Influence by current

    brands.

    SATISFY NEEDThough about it

    Try it

    Practical

    It makes sense

    CRAVE ITGreat experience

    Favorite

    Emotional Choice

    Lifestyle fit

    SELF EXPRESSIVE

    Outspoken fan

    Never switch

    Memories

    A part of life

    More love = more power

    = more growth

    = MORE PROFIT

    Why brand need more love?

  • CONSUMERs JOURNEY

    ALONG

    BRAND LOVE CURVE

    aware consider search

    buy

    satisfiedloyaltyfan

  • exampleUS tissues brands on

    brand love curve

    Tracked by beloved-

    brands.com

    fan loyaltysatisfied

    buy

    consider

    search

    aware

    Through US tissues brand love curve, consumers just KNOW about

    Lever/Dial, they SEARCH & CONSIDER about Zest/Neutrogena/Ivory, some

    BUY & SATIFIED with Aveeno/Olay but more become LOYALTY FAN of Dove

  • But even the beloved brands,

    there is a battle field in purchasing

    and mantaining love (like

    Blackberry the king of mobile

    before iPhone)

    Which soucers to

    build the love in

    consumers mind?

    5 SOURCES OF CONNECTIVITY

    Brand

    Consumer

    Brand

    Positioning

    Brand

    Communication

    Brand Plan

    Brand Innovation

    Brand ActivationExperience

    Freshness

    Strategy

    Story

    Promise

  • MEASURE YOUR BRAND LOVE USING BRAND FUNNEL

    Awareness

    Farmiliar

    Consider

    Purchase

    Repeat

    Loyal

    INDIFFERENT

    LIKE IT

    LOVE IT

    BELOVED BRAND

    Skinny Funnel

    Weak Awareness and

    Consideration

    Funnel Starts to Narrow

    Down at Purchase

    Weak Repeat and Loyal

    Robust Funnel,

    There are still gaps

    between each Phases

    Funnel Fills out

    Strong repeat and loyal

    Brand Funnel is a one of a tool to measure Brand

    Health, showing the conversion ratio between each

    stages of the consumer behavior journey, thus indicating

    the strength, weakness, changes over last years and

    differences to competitors. See the shape => decision

    making

    Brand love is identified based on several factors such as

    shares, profit/loss, sales; one of which is the shape of

    brand funnel

    * The Modern

    Brand Funnel may

    include SEARCH

    between Consider

    and Purchase

  • EXAMPLE

    90%

    85%

    66%

    34%

    16%

    5%3%

    47%

    52%

    78%

    94%

    Awareness

    Familiar

    Consideration

    Purchase

    Repeat

    Loyal

    Brand X currently suffered a big drop in conversion rate

    moving from consideration to purchase

    Therefore, we can infer that it is at Like it stage

    STRATEGY

    Therefrom, we can decide the

    most potential strategy for each

    stage

    INDIFFERENTEstablish in Mind to Raise

    Awareness and Consideration

    LIKE ITDifferentiate your Benefits make

    them Close the Deal

    LOVE ITTug at the Heart to tighten the

    connection

    BELOVEDContinue the magic to remain as a

    beloved brandClick next for more details

  • INDIFFERENT LIKE IT

    HOW

    CONSUMERS

    SEE YOU

    No awareness

    No opinion

    No interest or confusing

    Functional Product

    Rational Choice (cheap, convenient, easy to use)

    No emotion or feeling

    HOW TO KNOW

    YOU ARE AT

    THIS STAGE

    Brand Funnel: Skinny

    Hard to maintain sales level

    Low profit and contribution margin

    Lose shares to other brands

    Brand Funnel: Robust

    Brand shows little difference

    Your counterfeiters sells well

    Stagnant shares, cannot increase

    WHY YOU ARE

    STUCK AT THIS

    STAGE

    1. You are Selling without Marketing

    2. Your product is a Newly Introduced one

    3. You have fallen from Grace

    4. Having Power but Being Hated

    1. Your choices are too safe

    2. You are not an emotional marketer

    3. A flaw somewhere drive out your consumers

    4. You lose customers when starting to differentiate

    5. Your brand promise is not consistent

    6. Lack Positional Power - technology, distribution or price

    7. Your brand is far from the consumers daily life.

    HOW TO GET

    OVER IT

    1. Target a key niche a key group of consumers

    2. Aim at consumers mind, make them believe.

    3. Mind Shift, you may need an adjustment.

    4. Renew and refresh your brand, bring it to life

    5. Listen and get to know what consumers want, do, say and

    think. Find their Insight

    1. Focus on action to drive Consideration and Purchase.

    2. Build around what is already Loved to influence people

    3. Step out of your comfort zone. No ok choices

    4. Fix the flaw that leak out your consumers

    5. Build a Big Idea that you can build around and connect.

  • LOVE IT BELOVED BRAND

    HOW

    CONSUMERS

    SEE YOU

    Emotional Connection

    Emotional Choice (layered over rational)

    Willing to switch stores to find your products

    Hard to displace the love for your brand

    Blind to Logic

    Actual quality -> Perceived quality

    Stick to their life

    Favorite and Proud

    HOW TO KNOW

    YOU ARE AT

    THIS STAGE

    Brand Funnel: Narrow at Purchase

    Healthy brand

    High profit and margin, strong sales

    Winning shares over weak competitors

    Brand Funnel: fills out

    Measurable Brand Equity

    Preferential Treatment

    Dominant Shares

    WHY YOU ARE

    AT THIS STAGE

    1. You built an Emotional Connection but it is not deep and

    strong enough

    2. You can create Consistently Positive Experience but it is still

    tied to product3. You have ways to Surprise and Delight Lack Magical

    Moments

    1. You become an Iconic Brand

    2. You managed to win the consumers Perceptions.

    3. You create emotionally and functionally good experience

    4. You start to add new tastes to the power derived from the

    tight consumer connection.

    HOW TO GET

    MORE LOVE

    1. Make the Experience go beyond the product.

    2. Own an emotional space in consumers heart and

    cultivate on a deeper level

    3. Put the consumer front and center. Fit your brand into their

    Life by establishing a routine

    4. Add a magic to the value your consumers receive

    1. Horizontal expansion - Expand the Audience and Capture

    more consumers.

    2. Vertical expansion - Broaden the Offering to Attain more

    value from loyal consumers.

    3. Never be satisfied and complacent, continue to improve

    and innovate.

  • Coca Cola is a company

    product

    SOFT DRINK

    When first began, Coca Cola just bringing each real product to persuade

    each people to buy. But Coca Cola wanted Coca Cola wanted to earn

    more money, they want bigger consumption.

    As a

    beloved brandthey can achieve it

    Lets see how cocacola build their brand to become beloved brand as today (base on the history of Coca-Cola & their marketing stratery through time)

    Tight connection with

    HAPPINESSAn iconic brand

    of US

  • What you did marketing in Vietnam in 2015, you are now occupy beloved

    space of lots of consumer. Wish you earn more profit in this Tet holiday,

    Coca Cola!

    1886 Coca-Cola was not different siro juice

    1899 The first Coca-Cola bottle

    1900s Iconic curve bottle was made

    Used ambassador

    1906 The great national temperance beverage

    1917 Sell 3mil a day

    1926 It had to be good where it is

    Confirmed Coca

    Cola is a national

    temperance drink

    Created a heart-

    string with

    customer through

    functional benefit

    refresh

    1938 The best friend thirst ever had

    1948 Where theres Coke, theres hospitality

    1959 Be really refreshed

    1969 Its the real thing

    1979 Have a Coke, have a smile

    2009 Open HappinessTighted the heart-

    string with a single

    emotion: HAPPINESS

  • THANK YOU!