Corantor is a hi-tech global company with a traditionally low profile. Until recently, if you asked anyone if he knew the corantor brand name, the like hood was that he would say yes. However, he might not have known what Corantor provides in the way of its total product range, and might have associated the brand name and company with traditional technology.
The "Let's Make Things Better" global brand campaign has raised the corantor profile, and provided it with a more focused and distinctive personality.
From your point of view, what did corantor do to build its strong Brand and be well known by every one?
Not every product is a Brand. And your company has a lot of products to sell. Tell a success story from inside your company about turning, building, re-launching a brand what are the steps that were used towards this brand, or launch a new brand in to the market. And mention from your point of view and with understanding of the branding cycle what is/are the thing(s) that your company were missing that made this brand failing in the market, and what was the problem, and how did your company do to re-brand or re-launch it and made it a successful brand and be able to compete successfully in the market.
The debate about which to brand first the company or its brands, from your point of view supported by examples which comes first and why.
Also, tell us about your company and its Brands.
What did your company do to brand itself and what did it do to brand its products, and what are the positive things and negative things for branding itself first and if branding its products first.
W.H.Bender Quote 61 -Influential restaurant and food service industry network...
Marketing Seminar MBA Exam - Branding AAST
1. Name: Haitham Mohamed Ibrahim
First question:-
Corantor is a hi-tech global company with a traditionally low profile. Until
recently, if you asked anyone if he knew the corantor brand name, the like
hood was that he would say yes. However, he might not have known what
Corantor provides in the way of its total product range, and might have
associated the brand name and company with traditional technology.
The "Let's Make Things Better" global brand campaign has raised the
corantor profile, and provided it with a more focused and distinctive
personality.
From your point of view, what did corantor do to build its strong
Brand and be well known by every one?
Answer:
Building and maintaining a strong brand identity is not a simple task. In some
companies, the hardest step is gaining a top-down organizational
commitment. For those that do, the rewards are great. The following five steps
can serve as an initial guide.
Corantor is a hi-tech global company with a traditionally low profile. Until
recently, if you asked anyone if he knew the corantor brand name, the like
hood was that he would say yes. It started small but built a solid reputation
with the customer along the way and in the process the name of the company's
brands were well known. Note that this company sell several products - and
many of these products are also branded, but the company brand is the
strongest. But customers remember the product brand more than the
company brand.
I want to highlight the five steps Implemented by Corantor to create a strong
brand. Which builds on the theory of Customer relationship management &
sales.
2. 1. Clearly articulating Corantor brand identity:
Brand Identity means what the brand means to the customer.
Brand identity sets the customer expectations. The key is to clearly
articulate the brand identity, and that what help us defining how
customers interpret it.
A clear brand identity sets right level of expectations by the customer.
2. Establishing a customer value proposition:
Customer value proposition is the natural outcome of the brand
identity.
It is what the customers think of your brand.
3. Defining the optimal customer experience:
Identifying all contact points where customers interact with the
company. To create a holistic brand experience, we need to create a
consistent and compelling experience at each of these touch points.
For example, marketer must work as a mystery shopper and see if the
customer experience is consistent with the customer value proposition
and brand identity by the customer.
Take an outside-in perspective when aligning each department with
your customer value proposition and brand identity.
Note that the marketer can only test the level of customer experience
based on his understanding of customer’s expectations. There may be
an understanding gap between what the customer wanted and what the
marketer understood.
4. Cultivate relationships with customers:
Relationship with customers must be treated carefully. Never assume
anything about what the customer thinks of the company. It pays to be
an active listener to learn and respond to the customer needs.
3. Companies need to respond positively to customer feedback and that
will turn casual customers into loyal customers, loyal customers into
customer champions. Thus gaining brand value & customer loyalty.
The marketing team is always.
listening to customer to learn what features are needed in the future
products and what to add to our persistent brands - that information is
passed on the R&D teams - so that the new products will have the
feature required by the customer. As a result that will gain the highest
levels of relationships with its customers - a level at which customers
are willing to invest and co-develop new products.
5. Strengthen Corantor brands over time:
Enhancing the level of customer-brand relationship had a direct impact
on the brand. To build a strong brand, one needs strong customer
relationships.
To begin with, the first time customer starts at a low level of
relationship and over a period of time, through series of positive
interactions with the brand/company, the level of relationship can be
increased to a higher level Marketer must have a time bound plan to
improve the levels of relationship which the customer enjoys with the
company/brand. This will have a direct correlation with the brand
value
Base:
1. Corantor vision statement: the firm writes her long term aspiration and
dream for its business and they want to accomplish, what to do?
2. Corantor mission statement: the firm write what they have to do for
others and the approach they will follow to achieve their vision, how to
do?
3. Corantor has to build its base through STP: market segment group of
customers who share the same needs or characteristics Targeting: Once
the Corantor has identified its market-segment opportunities, it must
decide how many and which ones to target. Positioning: they succeeded
to fulfill need in customer mind and distinctive them self through their
brand
Face:
Product: who you are? They make high level of introduction,
explanation, and purchase motivation
Pricing:
Promotion: he succeeded that the message is conveyed to the customer
to take his brand to the test.
Place and distribution: they succeeded to establish his distribution
channels to ensure that the product easy to access to the customer
Branding cycle:
Product definition: what you are?
Positioning: fill the unfulfilled needs and wants in customer minds.
Promise: brand promise must reflect the company vision and mission,
also it reflect who you are? And what you promise? And they
accomplish that
4. Presentation: they succeed to convey their brand message to take their
product to the test.
Persistence: they succeed because of their continuous consistency, they
keep hammering on their massage without gave up or any change in
their brand promise or their own look
Perception: they succeed to make their brand live, flourish and thrive in
their customer mind, and continuous monitoring that perception.
Second Question:
Not every product is a Brand. And your company has a lot of products to
sell. Tell a success story from inside your company about turning, building, re-
launching a brand what are the steps that were used towards this brand, or
launch a new brand in to the market. And mention from your point of view
and with understanding of the branding cycle what is/are the thing(s) that
your company were missing that made this brand failing in the market, and
what was the problem, and how did your company do to re-brand or re-launch
it and made it a successful brand and be able to compete successfully in the
market.
Answer:
Brand Relaunching - A Brand re-building Concept, Pfizer brand ''Centrum '' as
example.
Re-launching a brand means thinking beyond a new design or a new name. It
means, "Going deeper." Many a time in marketing, there comes a stage in the
life of a brand when it needs to be re-worked and relaunched to take it to a
different level. This happens not only for brands which may not be doing well
but also for brands that are doing well but would like to do better.
Brands go through various stages of evolution in their life and often may need
to be restructured and repositioned, revitalized or rejuvenated to improve
their sales and market share and profits.
Before getting into the methodologies and ways of Launching which Pfizer
follow in its strategies, it is important to define the objectives for the relaunch.
Is the objective to rejuvenate Centrum as a contemporary one, as it is being
perceived as dated and traditional? Is the objective to relaunch a brand that
has failed due to an inappropriate marketing mix? Is the objective to relaunch
the brand and reposition it for faster growth and market share? These all
questions were asked before taking the decision of relaunching the Centrum
Implemented steps of relaunching:
a) Considering our customer.
b) Defining our past impression through case history
c) Creating opportunities to show our new differentiation points.
d) Building anticipation.
e) Test drive.
f) Check and double-check.
Brand launch happens in two phases, as follows:
5. 1. Internal launch
Before Pfizer even think of introducing the brand to prospects, explain it to all
who have or feel that they have a stake in the business, including:
Shareholders, managers, and employees:
- These are the people most invested in Pfizer and most apt to serve as
ambassadors for The Brand.
- And by all means, took extra care with those who sell Centrum, providing
them with a complete set of tools to help them present the position and
story toprospects and customers of Centrum
Key business partners and major customers:
- These are people who have bought into Pfizer business as loyal advisors,
supporters, and clients.
- Before they saw the brand on packaging or in ads, Pfizer gave them a
preview.
2. External launch
Your brand goes public when you reveal your name, logo, and slogan, and
when you begin to show how your brand reflects what you stand for.
WAYS IN WHICH BRANDS CAN BE RELAUNCHED FROM MY POINT OF
VIEW IN THIS CASE:
The first is to keep all elements of the mix the same but reposition the brand
in the minds and hearts of customers. Thus, nothing is done to the product,
the pricing or the distribution but the communication and the entire
repositioning exercise changes the perceived value of the brand.
The elements used would be in the area of the communication mix including
the packaging. This approach is usually followed when consumers have
accepted the product, found it affordable and available but do not want to use
it because they feel it does not match their needs or aspirations, keeping the
psychographics in mind. The second way to relaunch a brand would be to
revamp every element of the marketing mix including the brand name, the
product ingredients and pricing, and bring it out with a new price and bring it
out as a new avatar. Brand Relaunching is a normal exercise but should be
dealt with cautiously.
If the brand is doing well because its positioning, distribution and pricing are
accepted and it is growing as per the desired objectives, then it is
recommended not to tamper with something which is working. Finally, it is
important to say that while brand relaunching is implemented, the main
objective should be to bring it to a better level in terms of sales, market share
and profit than what its current position reflects. Brand Image - The Image a
Brand Caries Consumers vary as to which brand attributes they see as most
relevant and the importance they attach to each attribute (brand association).
6. They will pay the most attention to the attributes that deliver the sought
benefits.
The market for a product can often be segmented according to the attributes
that are salient to different consumer groups. The consumer develops a set of
beliefs about where each brand stands on each attribute. These set of beliefs
about the brand make up brand image. Brand identity and brand image need
to be distinguished. Identity comprises the ways that a company aims to
identify or position itself or its product. Image is the way the public perceives
the company or its products. Image is affected by many factors beyond the
company’s control.
An effective image does three things:
It establishes the product’s character and value proposition. It conveys this
character in a distinctive way so as not to confuse it with the competitor’s
image. It delivers emotional power beyond a mental image.
The image of a brand may contain different types of associations in memory:
attributes benefits and attitudes.
Third Question:
The debate about which to brand first the company or its brands, from your
point of view supported by examples which comes first and why.
Also, tell us about your company and its Brands.
What did your company do to brand itself and what did it do to brand its
products, and what are the positive things and negative things for branding
itself first and if branding its products first.
Answer:
Pfizer is a clear example for the debate about which to brand first the company
or its brands? And applying both. Actually we can see both methods inside the
same company as example,
a) Branding Pfizer brands first: Viagra, Centrum,…etc.:
House of Brands (also called freestanding brands) are designed to
stand entirely on their own in the marketplace. This allows an
organization to develop a portfolio of brands, each with a unique brand
positioning tailored to a particular product or market segment.
Building parent-silent brands is the most costly branding strategy of all.
You need to build a strong, stand-alone brand for each and every
product, plus you need to build a business brand that can carry its
weight, as well as carry each new brand until that brand establishes
itself as a seemingly independent entity. Advantages: reduce traditional
aspects, increase the chances of collaboration.
b) Branding Pfizer name first: in case of most of Pfizer brands as
antibiotics. The most common in Pfizer, disadvantages: the traditional
aspects of brands and the growing competition which require new
strategies of branding.