RETAIL BRANDING

Def : Brand is the products essence, its meaning and its direction. It defines its identity in time and space. Successful Retail Branding starts with:

1. 2. 3. 4.

A clear definition of what the retailer stands for An identification of what the customers associate it with When customers think the brand is a reflection of them When the retailer is in the minds of the customer when he think of brand.

Brand True branding effort

1. 2. 3. 4. 5.

Communication that inspires emotional reaction Customer Service How salespersons greet customers How fast product is shipped and delivered 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 customers 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 aspects of the marketing mix

Other

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