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Branding for Export Market) By Ravi Jayawardena
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Points to Ponder … Global vs Local Global Brands vs Global Products Trading vs Brand Building Biggest challenge in Global Marketing Internal Mind Set Objectives based on recourses? Type of control needed
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Going Global..Understanding the basics Market selection market size and growth Risk Government Regulations Competitive Environment/Culture Local Infrastructure Product portfolio management Product cultural challenges Product positioning ( Toyota, Macdonald, Four seasons hotel)
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Components of a Product The product offering Functional Symbolic The attributes of a product Physical (Unique Selling Proposition -USP)
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What is a brand? “A brand is a set of promises. It implies trust, consistency, and a defined set of expectations about the usage experience.” “It is a process by which companies distinguish their product offerings from the competition.” A “trust mark” A “love mark” “A corporate obsession”
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Creating a USP & POD? … Is the image in the consumers mind regarding the products & services This create a strong reliable and unique association Three main attributes of POD Desirability (personally relevant & trust) Deliverability (must have resources) Differentiability ( superior to competitors)
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Creating a USP ? “ The single origin tea” Each box of Dilmah tea contains a folded insert that explains the care that goes into the sourcing, packing and delivery of every cup of tea. “Natural ginger taste” EGB only uses ginger from a sustainable agricultural sourcing initiative -
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What is a Brand Promise? A brand promise is what the company commits to the people who interact with it. It’s a description of the company’s character. It’s how the company creates and delivers value. Coca-Cola: “To inspire moments of optimism and uplift.” Virgin: “To be genuine, fun, contemporary, and different in everything we do at a reasonable price.”
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Brand Promise may go wrong? In his 2013 Forbes articles, Steve Olenski talks about a New York Sushi restaurant They would no longer take tips. However, based on the service levels customers voluntarily keep a tip It’s a performances appraisal and position statement Customers did not value the brand promise They perceived it’s a negative activity .
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Marketing Luxury Brands … Manage the brand image at the highest level (Cartier, Gucci, Hennessy, Rolex, Louis Vuitton) Create value through intangibles & physical evidence. All touch points has to be manage. Logos, brand name, symbols should have a positive link. Marketing mix Pricing - premium, Distribution - selective, Communication enhance inspirational value, Product quality at the highest level Strong legal protection.
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PRODUCT DYMENTIONS Core benefit or service Brand name and image Quality and design Packaging Actual product / service Features Capabilities Customer service components / after sales Augmented product / service Delivery Guarantees Installation Warranty Personnel + Value
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Brand /Market Development - Ansoff’s Market Penetration: –Protect/Build/ consolidate Market Development: –New Segment/territories –New uses Product Development: –Within existing market –With new capabilities Diversification: –With new market –With new capabilities –Beyond current expectations
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TVRadio Cinema PRActivationPOSM Retail fascia Social Media Press Digital Media
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Digital Media Landscape 6 million internet penetration 1 2.8 million Facebook accounts 2 500,000 active Twitter accounts 3 1.3 million Smart Phones 21 million connections 4 1. 4.7 Million users as of 31 st December 2013. This is a forecasted figure 2 Facebook advertiser platform 3 Neo@Ogilvy Surveys/Aggregated Data Analysis 4 TRC SL published data Sept 2014 5 TRC SL published data Sept 2014 6 Facebook advertiser platform 537,000 Fixed internet access 5
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Richard Branson business principles Only man in history so far to build seven billion dollar businesses from scratch Built Virgin Mobile USA into the fastest growing company in history ahead of such companies like Microsoft, Google, and Amazon. Considered by many the most successful, and living life to the fullest person in the world
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Richard Branson Qualities …… A solution focused attitude. ( he never look at a person for the negatives. Always use the positive side of people to conquer the world) An ambitious and passionate nature. ( you will never see Richard in a depressed mood. His enthusiasm is infectious. Always willing to learn. Openly appreciate peoples knowledge) Best Advise from the MOM…
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Thanking you ….
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