RETAIL BRANDING


Def : Brand is the product’s essence, its meaning and its direction. It defines its identity in time and space.

Successful Retail Branding starts with:

  • 1.      A clear definition of what the retailer stands for
  • 2.      An identification of what the customers associate it with
  • 3.      When customers think the brand is a reflection of them
  • 4.      When the retailer is in the minds of the customer when he think of brand.
Brand
True branding effort

  • 1.      Communication that inspires emotional reaction
  • 2.      Customer Service
  • 3.      How salespersons greet customers
  • 4.      How fast product is shipped and delivered
  • 5.      Involves every single contact occurring between any product and a human

  • Role of Brand
  • 1.      Successful Retail Branding ensures Stable long term demands
  • 2.      Better margins
  • 3.      Differentiation by way of creating long term association
  • 4.      Adds value to the product
  • 5.      Trust of fulfillment of service expectations
  • 6.      Protection from growing competition
  • 7.      Image as a company attractive enough to work for
  • 8.      Negotiation with suppliers from a position of improved strength
Brand Loyalty
Brand or store loyalty will ensure
  • ·         Positive disposal to the brand based on brand loyalty
  • ·         Brand preference : Frequent utilization of the store over other stores
  • ·         Brand allegiance: Continuous utilization of the store overtime 


Brand loyalty may be expressed for one or more brands

  • 1.      Hard core loyalty : Buying one brand all the time
  • 2.      Soft core loyalty : Buying a combination of two competing brands
  • 3.      Shifting loyalty : Buying preference shifting from one brand to another
  • 4.      Switchers: No loyalty to any one brand based on the deal given.

Positioning of brands Determined on the basis of
·         Product usage
·         Price
·         Price
For successful brand positioning Brand Managers should
  • ·         Regularly assess the customer’s opinions
  • ·         Clearly identify the target
  • ·         Plan the brand
  • ·         Differentiate the brand from others in the sub group
Differentiate the brand from others in the sub group
Personality of the brand
  • ·         It is created by way of adding psychological values through
  • ·         Packaging
  • ·         Advertising
  •     Other aspects of the marketing mix


Importance
  • ·         Encourages customers to build a relationship with a brand
  • ·         Gives strength to the brand
  • ·         Ensures the staying power of the brand


Concept has two non-functional aspects of brands
  • 1.      Brand image
  • 2.      Brand identity

Brand image
  • ·         Customers regard brands possess human-like characteristics
  • ·         Customers experience brands as bundles of association
  • ·         Customers see, hear, smell, taste and get gut feelings about different brands
  • ·         This profile or essence is called brand image

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