BRAND INVENTORY
What are the objectives for the brand and how has brand management been conducted to achieve those objectives?
Some situation issues
1. Situation Analysis
· Brief History of Organization and selected brand
· Value Chain Analysis
· Environmental Scanning: PEST Analysis (Demographic Analysis)
· Market Analysis
Ø How large is the market for the product in question?
Ø Is it growing, shrinking, or static?
Ø What is the market share of the product?
Ø What are the major factors influencing the level of demand of this product (critical success factors)?
Ø Can the market be broken down into segments? If so what are the most useful bases for segmentation?
Ø At what stage in the product life cycle is the market?
Ø Is demand consistent over time or does it fluctuate in response to random or cyclical factors?
· Competitors Analysis
Ø Who are the competitive brands?
Ø What are their strengths and weaknesses?
Ø What is the basis of competition? (price, quality, economy, service, delivery, real of perceived differentiation, etc.)
Ø How long has each competitor been active in the market?
Ø What is the segmentation & targeting strategy of competitors?
Ø What is the differentiation and positioning strategy of each competitor?
Ø Where is the competition vulnerable?
Ø What is the current and projected market share of the competitors?
Ø Analyze the strength of current and potential competition through Porter’s Five Forces Model.
· SWOT Analysis (for the selected brand and key competitors)
Ø Strengths & Weaknesses: Organization History, Value Chain Analysis, SWOT checklist.
Ø Opportunities & Threats: PEST Analysis, Market Analysis, Competitors Analysis.
3. Analyze Buyer Behavior
· Who initiates the buying process?
· What events or factors stimulate the need to purchase?
· What criteria are used to evaluate alternative products?
· What criteria are most important and will they change over time?
· Who makes the final buying decision?
· Who implements the actual purchase transaction?
· Who uses the product once the purchase has been made?
· How the product is used, evaluated and discarded?
4. Review of Market Segmentation Strategy
· What is the current strategy, aggregation or segmentation?
· What is the basis of market segmentation? (Geographic, Demographic, Psychographic)
· Which segment(s) has/have been selected as the target market?
Positioning Strategy
· What is the intended positioning of your brand?
· What are the all desirable associations which the marketers intend to create in the minds of the target customers?
· Which associations are intended to be strong, valuable and unique?
· What are the intended POPs and PODs?
Brand Elements & Structure
· What brand elements (name, logos, slogans, packaging, characters, etc.) have been used and what image do they project?
· Are they memorable, meaningful, likable, transferable, adaptable, protectable
· What is the brand structure? (Family, corporate, umbrella, etc.)
Product Strategy
· What products bear the brand name?
· What are the services which accompany those products?
· What are the nature and qualities of these products?
· What are the key attributes of the branded products (primary characteristics, secondary features, durability, serviceability, style & design, etc.)?
Pricing Strategy
· What is the pricing strategy (penetration, skimming, etc.)?
- List price, price discounts and allowances?
- What does the price signal about the brand?
Distribution Strategy
- What are the current distribution channels?
CAclubindia
