Unit 5 Marketing and Branding Strategy PDF

UNIT 5 MARKETING A N D BRANDING STRATEGY BSIT - 3 Technopreneurship INTRODUCTION Marketing and branding are essential for technopreneurs to connect their innovations with the right audience. A strong marketing strategy identifies customer needs and effectively positions the produc...

UNIT 5 MARKETING A N D BRANDING STRATEGY BSIT - 3 Technopreneurship INTRODUCTION Marketing and branding are essential for technopreneurs to connect their innovations with the right audience. A strong marketing strategy identifies customer needs and effectively positions the product, while branding creates a distinct, memorable identity. Together, they drive customer engagement and set the foundation for long-term success. TYPES OF MARKETING AND BRANDING STRATEGY I. BRAND LADDER II. VISUAL IDENTITY III. MARKETING STRATEGY I. Brand Ladder What is a brand ladder and how can you use it to build your brand? The brand ladder, introduced by marketing experts like Philip Kotler and Kevin Lane Keller in the 1980s, emphasizes showcasing the unique benefits customers gain from a product or service. This strategy focuses on offering an unparalleled experience, and influencing consumer decision-making by highlighting additional product or brand attributes. What is the purpose of a brand ladder in the marketing planning process? The brand ladder helps create a stronger emotional connection with customers by emphasizing the emotional benefits of your brand, leading to loyalty and trust. For this strategy to be effective, it's crucial to gather real data on how the company and its products are perceived by customers. HOW DOES THE BRAND LADDER WORK? The brand ladder links product and brand attributes to the social and personal aspects of customers' lifestyles. This connection helps align the brand with customers' values and preferences, enhancing relevance and appeal.  The brand ladder is further divided into four steps or categories that specifically point them out so that customers know what they are and are aware of them. Attribute benefits - This first rung defines the unique virtues offered by the product or service that the consumer will purchase. Functional benefits - Beyond solving a basic need or concern with what the customer has just bought, it is necessary to define what the person will obtain with what he/she is buying. Emotional benefit - This may be the most difficult step to achieve, but if we manage to create a sense of security or an emotional connection between brand and consumer, we will achieve a unique impact that will be difficult for the customer to forget. Social benefit - In this last step of the brand ladder we must clarify how our work or our product will be able to transform society and the way it develops a certain activity. As an example we could take Apple with its flagship product, its iPhone Smartphone that changed forever the way human beings communicate.  Three steps of creating a Brand ladder A brand strategy is a framework that determines how businesses present themselves to and stand out among competitors. Your business's brand is more than just its name, logo, fonts, and colors Brand identity is the visible elements of a brand, such as color, design, and logo, that identify and distinguish the brand in consumers' minds Brand marketing is the process of establishing and growing a relationship between a brand and consumers. Rather than highlighting an individual product or service, brand marketing promotes the entirety of the brand, using the products and services as proof points that support the brand's promise. II. VISUAL IDENTITY The Importance of Visual Identity in Marketing and Branding Visual identity is crucial for establishing a brand's essence and making a lasting impression on consumers. This presentation will cover the importance of visual identity and provide guidance on creating a strong one for your brand. Key Components of a Visual Identity Color - Your brand's color palette can help evoke emotions and create brand recognition. Choose colors that resonate with your brand's personality and vision. Typography - The typeface you choose should be legible and consistent across all channels. It should also align with your brand's personality and values. Logo - A logo is the face of your brand. It should be simple yet memorable, and reflect your brand's personality and values. Imagery - The images and visuals associated with your brand should resonate with your target audience and be consistent with your brand's personality and values.  Creating a Strong Visual Identity Research - Understand your brand's unique personality and vision and research your target audience. Create Guidelines - Develop a visual identity guide with clear guidelines for the use of color, typography, logos and imagery across all channels. Consistency is Key - Ensure consistency in the use of visual elements across all channels to establish brand recognition and build brand loyalty.  Successful Example: Coca-Cola Memorable Logo - The Coca-Cola logo is simple yet effective, and has become one of the most recognizable logos in the world. Iconic Imagery - The classic Coca-Cola bottle is instantly recognizable and reflects the brand's personality and vision. Consistent Colours- Coca-Cola's red and white colour scheme is consistent across all channels and has become synonymous with the brand. Strengthening a Brand's Marketing Strategy Brand Recognition - A well-crafted visual identity enhances brand recognition, making it easier for consumers to remember and identify your brand. Emotional Connection - A strong visual identity can evoke emotions, fostering a deeper connection between consumers and your brand. Builds Trust - Consistent visual elements across all channels help build consumer trust and establish your brand as reliable and professional. Conclusion and Key Takeaways Visual Identity Matters - A strong visual identity is crucial for building a successful brand and effective marketing strategy. Consistency is Key - Using visual elements consistently across all channels is vital for establishing brand recognition and loyalty. Align with Brand Values - Visual elements should align with your brand's personality, values, and vision to foster an emotional connection with consumers.  III. Marketing Strategy A marketing strategy is a comprehensive, long-term plan that outlines how a business will promote and sell its products or services to achieve its goals. It involves understanding customer needs, selecting target audiences, and making key decisions about branding, messaging, channels, and tactics. A well-crafted strategy helps position the company in the marketplace, create a competitive advantage, and guide decisions on product development, partnerships, and promotional efforts.  Key takeaways: Marketing goes beyond advertising and promotion; it's about building a connection with the customer. A marketing strategy provides direction for all product and marketing activities, ensuring they align with business goals. By having a strategy, you keep all your efforts focused and on track. Developing a marketing strategy involves: Establishing goals Conducting market research Creating product plans Outlining your marketing initiatives Understanding marketing: Before delving into marketing strategy, it's crucial to understand what marketing truly is and what it isn't. Marketing is about connecting your company with potential customers and meeting their needs through your products and services. It encompasses the entire process, from identifying customer needs to delivering solutions and convincing them to buy. Marketing isn't just about advertising, public relations, or digital campaigns; it's also about everything that supports these efforts, including product development and distribution. Ultimately, marketing should drive your business decisions and guide how you meet customer needs.  What is included in a marketing strategy? A marketing strategy sets the overall direction for various marketing activities without getting into specific details. It helps define key elements for your company, such as the target audience, which is the group most likely to want your product or service, and the value proposition, a concise statement of why customers should choose your offering. It also involves analyzing the product mix to allocate resources effectively, enhancing growth and market share. Brand messaging is established to communicate your value proposition and business values consistently. Additionally, a marketing strategy guides the development of promotional initiatives and content marketing to engage and attract customers. PREPARED BY: VILLAS, ADRIEL JOSE SATOR, BRIDGET VASQUEZ, KEITH ANDREI EBO, NEL JAN ESTREMADORA, NICHAEL