marketing mix and brand identity

marketing mix

shapes every interaction customers have with a brand, by consistently implementing a carefully craft mix

4ps

each element of the marketing mix serves as a building block for brand identity by contributing to a coherent brand, a set of tactical business tools that businesses use to promote and sell their products or services effectivley

product

• the item or service a company offers to meet customer needs

• it includes product design, features, quality, branding and any associated services or warranties

• design, tech, perceived usefulness, convinience of use, quality, packaging, brand utlility, accessories

price

• the item or service a company offers to meet customer needs

• includes product design, features, quality branding and any associated services or warranties

place

• involves how and where a product is sold, which could be through physical stores, online channels or a mix of both

• it also encompasses logistics and the entire supply chain that brings the product to the consumer

• retail, wholesale, mail order, internet, direct sales, peer to peer, multi channel

promotion

• encompasses all activities that communicate the product’s value and persaude customers to buy it

• this can include advertising, sales, promotions, public relations, value and personal selling

• special offers, advertisements, endorsments, user trials, campaigns, joint ventures

7ps

expands on the original 4p’s by adding three additional elements; people, process, and physical evidence

people

• the staff and customer facing teams involved in delivering the product or service

• this includes recruitment, training, and customer interaction

• employees, managment, organization culture, customer service, orientation

process

• the procedures, mechanisms, and flow of activities that lead to delivering the product or service

• this can include service delivery methods, customer experience flow and operational efficency

• uniformity of offering, service delivery, service consumption

physical evidence

• tangible elements that help customers evaluate and experience the service, creating trust and a positive impression

• this can include the environment, branding materials, and any other physical components that enhance the customers perception of quality

• facilities, infrastructure, service delivery

brand

a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers”

• when products look alike, the brand image makes the difference

brand valuation

some brands are more valuable than others, brand valuation can be difficult to measure, since a brand is an intangible asset

values of brands for the consumer

• makes shopping easier

• it identifies the products (tracking)

• it differentiates a product from the other product (positioning)

• it conveys a level of quality and reduces the perceived risk

• higher quality vs value for moneu

• the brand is a source of satisfaction for the consumers

• it allows the consumer to express his personality, reassures the consumer and is a source of positive emotions, aesthetics, design and communication

values of brands for the company

• it decreases price sensitivty and builds customer loyalty

• it limits new entrants

• it offers potential growth; internationalization, extentsion, co branding

• connects employees, managment and shareholders of a company (belonging to a community and sharing its values)

• way of legal protection of products’ unique traits/features (the brand provides a legal framework for the company to limit the copying og its products and services)

• means of financial returns

brand identity

• what makes you instantly recgonizable to your consumers

• your audience will associate your brand identity with your product or service, and that identity is what forges the conncection between you and your customers

• builds customer loyalty, and determines how your customers will perceive your brand

• it includes the elements of the brand policy (name, logo, colour, symbols), the elements of commercial policy (price, distribution, e.t.c), as well as the historical elements of the brand (company, history, campaigns past communication)

kapferer brand identity prism

• physics: tangible items, products or services, symbols

• relationship: implicit exchange between the brand and the consumer

• reflection: the image that the brand gives to its target

• personality: character of the brand

• culture: value associated with the brand

• self image: goal that the consumer seeks to achieve by buying the brand

physics of the brand

• product typology

• physical characteristics (logo, colour)

• character traits of the brand (e.g. sincerity, excitement, competence, sophistication, ruggedness)

brand culture

• values associated to the brand

• it draws from the origin of the brand

brand self image

• this explains how a customer perceives himself by using the brand

• e.g. showing your status by wearing a rolex

• the brand is strong when it is consistent over time