E-branding Vaibhav Shukla MBA

Download E-branding Vaibhav Shukla MBA

Post on 12-Nov-2014

852 views

Category:

Documents

0 download

Embed Size (px)

DESCRIPTION

its all about s-branding strategy,how it is done,precautions co. has to take & benefits.

TRANSCRIPT

<p>E-branding strategy</p> <p>-</p> <p>a revolution</p> <p>A Dissertation report submitted to the</p> <p>By </p> <p>By Vaibhav shukla, 0709, PGPM 07BS101 marketing</p> <p>ACKNOWLEDGEMENT</p> <p>I also thank to my friends, colleague &amp; my family members for their encouragement &amp; support throughout this project.</p> <p>I also thank to those who has given directly or indirectly any kind of support which lead to completion of this project successfully.</p> <p>Vaibhav Shukla</p> <p>AbstractThis project is all about the E-Branding strategy adopted by company in todays fast moving world &amp; how they expand their market, how they reach to their customer &amp; give them an easy way to do business &amp; thus establish better relationship by providing then time saving &amp; fast online trading/business opportunity. First for this company has to check from all side, study the competitors, make sure about the objective of company, the benefit it is going to do, analyse the current situation. Because one side it save company cost, build relation with client, other side an inappropriate site, move &amp; e-branding strategy can harm company long establish reputation. So how to build it, how to go for e-branding strategy, what factors should be considered, who are helping company to adopt this culture, what can be done to make it a necessary part of marketing process, this all thing has been analyzed in this report. This report present a clear cut idea of the all the points from setting up the platform for going online presence to its marketing strategy &amp; last but not least getting customer feedback, managing database &amp; maintaining a strong relation. In last some recommendation are mentioned which emphasize not only just making it a part of business but also as culture &amp; start it at beginner level to give the coming mangers a idea about this &amp; it also depicts the necessity of this because next generation is moving towards internet so online presence will catch then &amp; cultivate the business &amp; thus leads to organization profitability.</p> <p>Content1)</p> <p>- Introduction</p> <p> About branding &amp; its benefits to business 2) - Literature review What is E-branding? Personal E-Branding Why e-branding so critical? Developing intrinsic value for E-Branding 3) how to grab attention of users Brand Analysis Develop e-brand image Brand development Brand value Brand strategy 4) - Factor to be considered for successful E-branding strategy Strategic internet marketing Online networking site new marketing essential Viral marketing Web marketing strategy Facts 5) - Process in E-Branding</p> <p>6) Findings Successful E-Branding strategy Challenges brand face online Formula for online success 7) - E-Branding interactive service</p> <p>8) E-Branding mandatory</p> <p>9) conclusion</p> <p>10 Recommendations</p> <p>11) bibliography</p> <p>INTRODUCTIO N</p> <p>EBRANDINGBrandingAlmost every business has a trading name, from the smallest market trader to the largest multi-national corporation. Only a minority of those businesses however, have what could be classed as a brand or a brand name. Branding is a word commonly referred to by advertisers and marketing people, but what does it actually mean, how can one get it, and most importantly; how will it benefit ones business?</p> <p>What is Branding?The most effective description or most effective definition is that a brand is a name or symbol that is commonly known to identify a company or its products and separate them from the competition. A well-known brand is generally regarded as one that people will recognise, often even if they do not know about the company or its products/services. These are usually the businesses name or the name of a product, although it can also include the name of a feature or style of a product. The overall branding of a company or product can also stretch to a logo, symbol, or even design features (E.g.: Regularly used colours or layouts, such as red and white for Coca Cola.) that identify the company or its products/services. For example: The Nike brand name is known throughout the world, people can identify the name and logo even if they have never bought any of their products. However, not only is the company name a brand, but the logo (The tick symbol) is also a strong piece of branding in its own right. The majority of people that are aware of the company can also identify it (or its products) from this symbol alone.</p> <p>The clothing and running shoe company Adidas is well known for using three stripes on its range of products. This design feature branding allows people to identify their products, even if the Adidas brand name and logo is not present.</p> <p>How Can Branding Benefit Business? (i) Recognition and Loyalty The main benefit of branding is that customers are much more likely to remember business. A strong brand name and logo/image helps to keep the company image in the mind of its potential customers. If the business sells products that are often bought on impulse, a customer recognising brand could mean the difference between no-sale and a sale. Even if the customer was not aware that one sell a particular product, if they trust on brand, they are likely to trust the company with unfamiliar products. If a customer is happy with products or services, a brand helps to build customer loyalty across business. (ii) Image of Size A strong brand will project an image of a large and established business to its potential customers. People usually associate branding with larger businesses that have the money to spend on advertising and promotion. If one can create effective branding, then it can make the business appear to be much bigger than it really is. An image of size and establishment can be especially important when a customer wants reassurance that one will still be around in a few years time. (iii) Image of Quality A strong brand projects an image of quality in ones business, many people see the brand as a part of a product or service that helps to show its quality and value. It is commonly said that if one show a person two identical products, only one of which is branded; they will almost always believe the branded item is higher quality. If one can create effective branding, then over time the image of quality in ones business will usually go up. Of course, branding cannot replace good</p> <p>quality, and bad publicity will damage a brand, especially if it continues over a long period of time. For example: The Sunny Delight drinks brand was one of the biggest in the UK just a year after its launch. However, constant bad publicity about the quality of the product has severely damaged the image of the brand, and sales have dropped for each of the past several years.</p> <p>(iv) Image of Experience and Reliability A strong brand creates an image of an established business that has been around for long enough to become well known. A branded business is more likely to be seen as experienced in their products or services, and will generally be seen as more reliable and trustworthy than an unbranded business. Most people will believe that a business would be hesitant to put their brand name on something that was of poor quality. (v) Multiple Products If ones business has a strong brand, it allows him/her to link together several different products or ranges. one can put the brand name on every product or service he/she sell, meaning that customers for one product will be more likely to buy another product. For Example: Sony sells televisions, music equipment, consoles, camcorders, DVD players, video players, and etc all under the Sony brand name. one can also create separate brand names for its product ranges, allowing people to see brand name, and then use the range brand name to work out what they wish to buy. For Example: Cadburys makes a range of confectionary under many different sub-brand names such as Dairy Milk, Boost, Flake, and Time Out. All of these are sold under the product brand, but all feature the Cadburys brand name on the packaging.</p> <p>LITERATURE REVIEWWhat is E-Branding?In simple It is electronically branding of company. Mainly the branding over the Internet. The Internet is transforming customer buying behavior, with major consequences for how the new breed of consumer develops familiarity with, and ultimately loyalty to, brand. Marketers who strive to capitalize on these shifts as all successful marketers must do will have to better align their branding investments with new data about how customers shop and buy online. Only by strategically recomposing the marketing mix can marketers drive traffic, build brand equity and capture customer loyalty in the Internet age. According to a recent IMT Strategies research study, there is a severe disconnect between how customers find new web sites and where companies are focusing their branding investments. In a phone survey of 360 web users, customers were asked to identify the primary way they discovered new web sites. Without any prompted choices, fully 45.8 percent cited search engines as their top choice. Another 20.3 percent cited recommendations from friends, and 19.9 percent credited "random surfing." In fact, the 2.1 percent who cited "by accident" as their primary means of finding new sites outranked virtually everything on which marketers are actually spending money television, banner ads, newspaper and radio each of which was the top pick of fewer than 1.5 percent of respondents. Marketers, meanwhile, continue to rely heavily on traditional brand-building investments, including print, TV and radio ads. Consider that 55 percent of ecommerce sites report investment in newspaper ads, 54 percent in magazine ads, 35 percent in radio and TV ads and 35 percent in print catalogs, according to a 1999 Intermarket Group survey. By contrast, "sponsorship on other sites" a powerful mechanism for reaching the nearly 20 percent of customers who find new sites via "random surfing," and roughly equivalent to the affiliate networks discussed below is cited as an investment by only 26 percent of e-commerce sites in the same study.</p> <p>While print, TV, radio and related marketing vehicles are hardly superfluous, the data does suggest that "old media" investments will be less effective in building visibility and brand equity over the web than a range of alternative programs and tools that better align with online customer buying behavior. Successful marketers will experiment with these emerging strategies to reach out to and connect with their web-savvy constituents. The following strategies appear particularly promising:</p> <p>Search engine optimization With nearly half of all web users citing search engines as their primary portals to new sites, marketers must re-examine their strategies for optimizing their rankings in search results. Appearing among the first few pages of search results on the top engines is a black-magic science practiced by (usually expensive) outsourcers who specialize in the realtime adjustments that are the key to maximizing search engines. Such outsourcers include BeFirst.com, Did-It.com, Fat Traffic, SearchEngineWatch.com, Web-Ignite and Web Site Results.</p> <p>Affiliate network Online marketers need to carefully plan and manage partner programs that give them a broad reach of links on affiliate sites across the Net. Where 20 percent of web users cite "random surfing" as their top means of finding new sites, marketers must have extensive links in place to maximize their reach to customers throughout the Internet. So-called "affiliate networks" which typically reward referring sites with a commission or bounty based on click-throughs, sales leads or completed transactions are generally much more cost-effective than standard cost-per-thousand banner campaigns.</p> <p>Advocacy marketing Often the most powerful recommendation for a company is that of a satisfied customer to a friend. With 20 percent of surfers citing word of mouth from friends as their top means of finding new sites, companies need to provide incentives (e.g., discounts, loyalty currencies) and simple mechanisms (e.g., web-based email forms, pass-along email newsletters) to enlist their customers as marketing advocates to their friends, a strategy often referred to as "viral marketing" by online marketers.</p> <p>Permission Email When customers explicitly opt into permission marketing relationships, email can be one of the most cost-effective and brand-positive means of acquiring new customers and remarketing to existing customers. Savvy Internet marketers have realized that "email marketing" does not need to be synonymous with "spam." Instead, a range of strategies such as customer relationship email, corporate email newsletters, reminder services, permission networks, sponsored independent newsletters, discussion lists and partner co-marketing can drive online traffic and enhance brand equity.</p> <p>Personalization and Mass Customization Marketers can dramatically enhance customers' online experience by personalizing their web presence and allowing customers to configure products and services (enabled by mass-customized back-end processes). Sites can improve customer loyalty and build exit barriers with services such as personalized customer interfaces behavioralbased recommendations and individual product configuration. Personalization is the very essence of experiential branding, whereby customers impact a product or service to reflect a bit of themselves through a one-on-one interaction with the brand.</p> <p>E-Care A key component of any brand experience is the quality of customer service and support. While companies have long striven for customer service excellence in the offline environment, they are finding that customer expectations for online service present many unfamiliar challenges, such as managing a torrent of customer email inquiries and enabling efficient self-service knowledgebases. With the proper allocation of resources, however, companies can experience brandpositive efficiencies, delivering quality customer service more efficiently online than through traditional channels. Companies that disappoint user expectations, however, will damage their online brand equity.</p> <p>Personal E-Branding</p> <p>Personal eBranding is the next wave of personal and professional development online. A personal brand is how one market oneself to others, whereas an eBrand is a digital representation of ones online. the brand is who he/she is and what he/she stands for, including values, competencies, attitudes, vision, mission, personality and appearance. The combined sum of everything one is and how one project it to others, whether online or offline, is ones brand. Therefore, if ones name is only attached to a single blog, that blog becomes ones personal eBrand.</p> <p>Why e-branding so critical?The terms Internet Branding and Online Branding may be an unproductive way to think of both the internet, and branding. The internet is a tactical part of business strategy, just like the yellow pages; newspapers; direct mail; a storefront; busines...</p>