brand development(1)

8/3/2019 Brand Development(1)

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BRAND DEVELOPMENT

Selected Product: CAR(Rodex)

The Future Is Efficient


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Acknowledgement

We owe our gratitude to Allah Almighty for His blessings and

kindness that we were able to accomplish the challenging task successfully

and enthusiastically.

We acknowledge with deep gratitude the invaluable help extended to

us by our respected teacher: Miss Maria Naveed whose indispensable and

detailed comments and untiring guidance on various aspects combined with

encouragement made us come forth holding this article.


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EXECUTIVE SUMMARY

The main objective of us is to provide the fuel efficient

car in the market as no one introduce yet in the market in

affordable price we have the full knowledge of the market

and also our competitors products which they are

offering. Our customer must fell our car fuel efficient.

We know we are new in the market may be some

customer take time or search out about our product but

we believe we will create Goodwill in future and achieve

all the goals which we planed out. We are offering fuel

efficient car which is 800 CC and the mileage of the car is

45 KM per liter. The price of the car will be RS. 690,

000.The main players of our brand are Suzuki, Toyota

and ford. We are not targeting the upper class our focus is

on the middle and lower class people. We will advertise

our product (car) through newspapers, magazines,

internet etc. we are offering our best services to our

customers after selling the product. The spare parts of our

car are easily available as compare to the competitors and

also in fewer prices.


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CONTEXT:

1. Introduction.

2. Vision and Mission.3. Our Slogan. ( THE FUEL IS EFFICIENT )4. The Product.

5. 3 Categories of Product: Search Goods.

Experience Goods.

Credence Goods.

6. Main Competitors: Toyota.

Suzuki.

Ford.

7. Benefits of product: Core benefit.

Generic benefit.

Expected benefit.

Augmented benefit.

Potential benefit.8. Price.9. Placement and Positioning.

10. Promotion.11. Challenges:

Savvy Customer.

Maturing Markets.

Increasing Competition.

Difficulties in Differentiation.

Decreasing Brand Loyalty Into Many Categories.

Growth Of Private Labels.

Fragmenting Media Coverage.

Emerging New Communication Options.

Increasing Promotional Expenditure.

Increasing Job Turnover.


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THE FUEL EFFICENT CAR (Rodex)

INTRODUCTION:

The product we are working on is a fuel efficient car. World economy

is in deep trouble now a day and there was need to manufacture low

fuel consuming vehicles. People spend a large amount of theirincome at fuel of their cars. So we analyzed the need of the common

customer and developed a fuel efficient car which can solve their

problems. The brand name we gave it is Rodex.

The car will provide following features to the customers.

Engine of the car is 800cc.

Mileage of car is 45 KM per litre.

It would be fully automatic car.

OUR VISION:

our vision is to make the brand Rodex synonymous with reliability and

efficiency in the mind of the consumer.


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OUR MISSION:

Our mission is to provide the most efficient vehicles at the mostcompetitive prices.

OUR SLOGAN:

The future is efficientLogo:-

THE PRODUCT:

The most important element in the marketing mix is the product. This

is because the product is the core element that the whole brand is

built around. A brand, no matter how masterfully designed and

promoted, will not be successful if the product at it's core is a failure.


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For Example: A car that does not start in the morning will not be liked

by the consumers. Marketing managers develop their products into

brands that help to create a single position in the minds of customers.

There are three categories that products can be classified into:

Search goods

Experience goods

Credence goods.

Our product lies in the 'search good' category. This is because, due

to standardized systems and information available, the customer can

exactly gauge the quality of the product he is buying even before he

has made the purchase. All the benefits that the customer will derive

from this product can mostly be measured quantitatively. This leads to

the customer having a very accurate idea of what he will get from the

product.

Main Competitors of the brand:-

TOYOTA

SUZUKI

FORD


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Benefits of the product:-

There are five levels of a product:

Core Benefit.

Generic Benefit.

Expected Benefit.

Augmented Benefit.

Potential Benefit.

CORE BENEFIT:

Transportation from one place to another.

GENERIC BENEFIT:

An engine, basic body, seats, gear system, steering wheel, lights

and all other components absolutely necessary for the running of the

car.

EXPECTED BENEFIT:

Comfortable/adjustable seats, air conditioner, trunk space, etc.


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AUGMENTED BENEFIT:

fuel efficient engine, solar-powered air conditioning, aerodynamicdesign with better airflow compared to our competitors.

POTENTIAL BENEFIT:

Alternate fuel source integration.

PRICE:

Our pricing strategy is based on the Economic Value to the Customer

model. As such, we will be focusing on creating a differential value,

which is the difference between our product's value and the price of

our closest competitor. This differential value, we will share with the

customer, based on the market situation. The price of the car is Rs.

690,000. Normal car without fuel efficiency cost nearly 6 lac,s but they

consume more than double quantity of fuel. So according to all these

factors the price is quite affordable for the common customer.

Positioning and placement:

Kotler defined positioning as the act of designing the company's offer

and image so that it occupies a distinct and valued place in the target

customers mind.


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In order to do this, we will need to create harmony among the

product, its image and above all, the image of the company.

We will be using strategic brand management to go achieve this.

Our first task will be to identify and establish our brand position and

values. We have already established our set of core brand values.

These include efficiency in all things and attention to detail. This is

what our company and its products exude. Even in this product, we

have used the smallest details to achieve our goal of efficiency. It is

not just about putting in a smaller engine. Light weight and cutting

edge aerodynamic designs play just an important role. So do modern

technologies like solar power that has been smartly integrated into the

system. This attention to detail is the image we aim to project. This is

our mantra.

Promotion:

Our aim is to promote our mantra. To create awareness among the

target market about our presence and instill in their minds the values

of our product and company. More specifically, our promotion

activities will focus on highlighting our strengths along the theme of

efficiency and attention to detail.

Similarly, any other entity we associate ourselves with must also

exude these traits. In this way, we will be creating a link between our

product and them, reinforcing our own mantra/values.


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We will advertise through Media, Billboards, Newspaper, Internet,

Magazines, Facebook, Radio, Pamphlet etc.

We will advertise on the billboards which can be seen by

maximum number of customers.

We will give ad in most famous newspapers and magazines.

We will send emails to the customers of different car companies

by using the secondary data.

Different famous channels of television will be used for the

advertisement of the brand.

Face book and other communities networks will be utilized for

advertisement of the brand.

CHALLENGES:

1 Savvy customer:

Imagine a car that reflects how you feel and what youre doing every

hour, every minute. Our car is just such a car. This car having a

petrol engine and can also be runs on CNG.

This car is having one of several concept cars. "The ultimate in

personalization, the offers the ability to alter the content displayed on

the interior and exterior with the same ease as downloading an


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application or posting to Instagram.

Inside, theres more of the same, with the interior adjustable to match

the mood of the moment. Navigation information is blended into the

interior design through the use of augmented reality and the cars

"navigation concierge" can provide passengers with driving

information and guidance through a vocal interface.

A network update function makes sure the software for the vehicle's

drive, control and multimedia system are always up-to-date.

2 Maturing markets:

After launching in Pakistan, we will also launching in other countries

for maturing our market like other car companies. And for maturingour market we can make this car in those areas of the country which

are tax free and there are low labor costs.

3. INCREASING COMPETITION:

Toyota has a larger market share but we launch the car against the

Suzuki which is 600 CC. And compete Suzuki cars which started

800CC. The size and diversity of Suzuki product offering means the

company competes with the entire world's major car manufacturers.

In addition to these established competitors, Suzuki faces a number


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of regional car companies in developing markets, such as Russia,

China, or Indian, that it seeks to penetrate. The problem is that Suzuki

cars are often expensive for these developing markets, while

companies like Tata Motors (TTM) or produce considerably cheaper

cars that are affordable to a wider phase of the population.

4. Difficulties in Differentiating:

Companies can achieve competitive advantages essentially by

differentiating their products and services from those of competitors

and through low costs.

Our brand differentiation is based on fuel efficiency and easy

availability of spare parts in less price but our competitors in the

market also offering the same things but higher price which create

difficulty in differentiation.

5. Decreasing Brand loyaltyinto many categories:

We are not this stage to decrease our brand loyalty into many

categories because we have only one product at this time but in

future we will launch other vehicles and try to maintain the brand

loyalty.
http://www.wikinvest.com/wiki/Tata_Motors_(TTM)http://www.wikinvest.com/wiki/Tata_Motors_(TTM)


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6. Growth of private labels:

The growth of private labels in the market is highly increasing now

days which are decreasing the brand loyalty of existing brands. We

have little risk which is that may be some other private brand

challenge us and decrease brand loyalty.

7. Fragmenting Media Coverage:

We can promote our brand through fragmentation e.g. At first we

promote our brand in print magazine related to auto magazine then

we cover other media channels and news paper if we think we cover

the customer satisfaction so may be never promoting it more because

we have a customers which is the best way to promote your brand

seriously.

8. Emerging New communication Options:

Now there are new ways of communication in the market through

which you can promote your brand or product according to the

customer mind. We promote our message through Cable channels,

Print media Electronic media, SMS etc. So we have a lot of

opportunity to understand our customer about which we provide

them.


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9. Increasing promotional Expenditure:

Our company has a huge budget for making the product introduction

to make it a brand. Because to make the product a brand you need to

promote at any where you have access to go that promotional

activities increase the promotional expenditures cost which affect the

brand price.

10. Increasing Job Turn Over:

Now a days job turnover increasing due to competitors who are

offering high pays to the existing employees at the same working

position in other firm.

brand development(1)

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