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Godrej Branding strategies

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A case study of Godrej to discuss the branding strategies.. Only FMCG sector is taken into consideration.
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Module Name: Brand Design

Module code: BEMM 128

Assignment: Branding Strategies of Godrej

Name of Tutor: Dr Sotiris T Lalaounis

Date of submission: 2nd May 2014

Number of words: 2600

Submitted By: Ayush Agrawal

Student Number: 630058475

Candidate Number: 002330

1

BEMM 128 BRAND DESIGN

Branding Strategies of Godrej

Table of Contents 1 Introduction ......................................................................................................... 1

2 Brand Audit ......................................................................................................... 1

2.1 Customer Based Brand Equity (CBBE) Model .............................................. 4

Brand Equity Pyramid ......................................................................................... 4

2.1.1 Brand Salience ....................................................................................... 4

2.1.2 Brand Performance & Brand Imagery ..................................................... 4

2.1.3 Judgement and Feeling .......................................................................... 5

2.1.4 Brand Resonance ................................................................................... 5

3 Brand Development & Strategy ........................................................................... 6

3.1 Brand Product Matrix .................................................................................... 6

3.2 Global branding ............................................................................................. 7

4 Bibliography ......................................................................................................... i

5 Annexure 1 ...........................................................................................................ii

Table of Contents Figure I Value pillars of 'Godrej'.................................................................................. 1

Figure II Godrej's current performance outcomes by consumers ............................... 3

Figure III Brand Equity Pyramid ................................................................................. 4

Figure IV Feeling and emotion for Godrej .................................................................. 5

List of Tables Table 1 Brand Product Matrix ..................................................................................... 6

Table 2 Brand relationship factors for Godrej ............................................................. 8

Table 3 Future Market performance for 'Godrej' ......................................................... 9

BEMM 128 BRAND DESIGN

Branding Strategies of Godrej

Efforts by: Ayush Agrawal (Student No. 630058475) (Candidate no. 002330)

1

1 Introduction

Established in 1897, Godrej is still young even after 116 years of existence. The brand has come

a long way from manufacturing its first safe in 1902 till creating Gojiyo, a free browser-based 3D

virtual world in 2010.

The brand has 7 major companies with significance in real estate, FMCG (Fast Moving

Consumer Goods), industrial engineering, appliances, furniture, security and agriculture with

turnover crossing 4.1 billion dollars. The brand is present in 60 countries and overall overseas

business is around 26%. (The Godrej Group, 2013)

2 Brand Audit

This helps in measuring the health of the brand and revealing the sources of brand equity.

It is conducted in two parts, first the brand inventory, which is companys perspective to

understand how their products and services are sold and marketed.

Godrej rebranded them with the theme called brighter living for the strength to dazzle

consumer with their wide range of products and unparalleled services. Through brighter living

the company is targeting to bring their brand to life. In past lustrum Godrej focuses on building

value pillars of progression, expression, empathy and experience, which results in creating more

contemporary entity from their perspective. (Issuu, 2014).

Figure I Value pillars of 'Godrej'

By Progression they mean taking steps forward with customers. It means challenging prejudice

and confronting convention. The company projects themselves as constant innovator to race for

the future, with the tagline tomorrow is ours, own it today. (Issuu, 2014).

Expression is giving customers the products and services to express themselves. An

initiative called Bedhadak bolo was implemented where the thoughts (expressions) from the

customers and the employees from the company are welcomed. This enables internal marketing

by word of mouth which they believe is more reliable than any TV commercial. The company

thinks that in open speaking of the mind lays the power of all transformation. (Issuu, 2014).

Empathy means taking time to connect with their customers and thanking them. The

agenda is to know the customers thought and understanding how their product is part of the

world.

BEMM 128 BRAND DESIGN

Branding Strategies of Godrej

Efforts by: Ayush Agrawal (Student No. 630058475) (Candidate no. 002330)

2

And finally experience denotes looking at the bigger picture by going beyond the basic

needs. Godrej tries to deliver excellent products and services that customers cant forget and

they believe this will make them hunger for more and they will come back. (Issuu, 2014).

The value pillars mentioned above has forged a stronger connect with the 500 million Indians

whose lives are touched by Godrej group of companies every day. (Issuu, 2014).

To market the master brand Godrej took the initiatives like Khelo Jito Jiyo- an exclusive TV

game show where contestants comprising 3 family pairs contend to be the one worthy pair who

can win a home and everything in it,;

Godrej Power play- a consumer connect initiative which allows its consumers to

participate in the very reputed cricket league called IPL (Indian premier league) by making their

teams and win prizes while creating a lifestyle of their own using the products in the process.

And finally Gojiyo- an online 3 dimensional world. (The Economic Times, 2014).

Godrej is well aware that they have a strong and unique association in consumers mind.

People prefer their products because they are convinced of the advantages over other brands.

The PODs is created due to functionality of their products and services which delivers good

performance. Further Brand Godrej is difficult to attack; their marketing strategy is defensible

hence competitive POPs are established due to eliminated disadvantages.

BEMM 128 BRAND DESIGN

Branding Strategies of Godrej

Efforts by: Ayush Agrawal (Student No. 630058475) (Candidate no. 002330)

3

The second part is brand exploratory, which is consumers perspective to understand their

perceptions and beliefs to discover the true meaning of Godrej and its products to them.

The consumers respect the brand Godrej and prefer buying its products. In order to understand

the reasoning behind the influence, 20 primary surveys were carried out using certain brand

related questionnaires with diverse respondents. (Ref. Annexure 1). Also to gather more inside

information, 2 interviews were also carried out with existing employees of the company. Data

was analysed by comparing responses in percentage basis.

The outcome of the survey helped in getting a coherent picture of the brand as the collected

information relate very well to the outcomes of brand inventory. Some of the analysed data is

shown below.

Figure II Godrej's current performance outcomes by consumers

Because of the century long history and still on, Godrej has strong association with its

consumers. In words of Keller, Customer-based brand equity occurs when the consumer has a

high level of awareness and familiarity with the brand and holds strong, favourable, and unique

brand associations in memory. (Lupisella, April 2014) Hence CBBE is used to further understand

the customers actual perspective for the brand Godrej.

NOTE: Only Indian market is taken into consideration for the survey.

BEMM 128 BRAND DESIGN

Branding Strategies of Godrej

Efforts by: Ayush Agrawal (Student No. 630058475) (Candidate no. 002330)

4

2.1 Customer Based Brand Equity (CBBE) Model

The pyramid (shown in Fig1) is segregated into four levels: Salience, Performance and Imagery,

Judgment and Feeling, and Resonance. It helps in understanding how the foundation involves

achieving brand salience with the ultimate goal to reach at the summit of accomplishing brand

resonance.

Brand Equity Pyramid

Figure III Brand Equity Pyramid

2.1.1 Brand Salience

People are well aware and relate sincerely with the brand Godrej as its products are considered to be iconic. Their products are the first that comes to the consumers mind when considering a commodity in that category. E.g. Godrej locks and safes are considered as first option. (Insights Godrej, 2014)(Surve

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