Date post: | 01-Nov-2014 |
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Business |
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THE 3 P’S OF SUCCESSFUL BRANDING
Based on article “CK’s epiphanies:3P’s of successful branding” by Christina Kerley
Ujjawal BagariaMBA – IInd Year
DMS-SOMPondicherry University
1st P: Promise
Before you can Promote, you must Promise.
A Brand’s promise entails:
Core Competencies: The Brand’s strength areas.
Problems it solves: Solutions being provided to
customers.
Markets served: Targeted audience.
Benefits provided: Advantages offered to
customers.
FedEx: Overnight delivery in the world.
McDonald’s: Country’s best family
restaurants.
Starbucks: The world’s best coffee.
Volvo: Safest automobile.
Examples:
2nd P: Personality
A Brand’s personality is established by:
Design:
Typography, logos, Color palettes, Style guidelines.
Messaging & Nomenclature:
Brand Names, Taglines, Key Messages
Marketing Programs:
Sales Strategies, Promotions, Premiums.
Continued…
Advertising Campaigns:
Jingles, Headlines, Celebrity Endorsements
Brand Affiliations:
Partnerships, Philanthropies, Sponsorships
Don’t forget:
“A Brand devoid of Personality is just like a commodity and Customers will pay a premium for Brands with Personality.”
3rd P: Perseverance
Methods to maintain brand’s perseverance:
Brand Extensions:
- Extending the brand name to complementary products.
Example: Diet Coke under Coca-Cola
Sub-brands:
- Creating entirely new brands under the parent brand.
Example: Friskies & Fancy Feast under Nestle.
Continue…
Co-Branding Partnerships:
- Joining forces with synergistic brands.
Example: Target & Amazon.com
New Product Categories:
- Enhancing the brand through new products & services.
Example: Martha Stewart’s bath accessories.
Continue…
New Distribution Channels:
- Unearthing new methods of delivering the brand.
Example: White Castle – from Franchisee shops to local grocers.
Don’t forget:
“In order to stand the test of time, the brand must change with the times.”
To Conclude…
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