Application Exercise : Strategic Brand Management
Q1 . Identify a brand in your own company. Identify the following : a) Purchase process b) Players in the purchase process c) The influence rs in the Purchase process.
Q2. Identify the factors influencing the brand choice.
Q3. Identify what is the present level of a) awareness b) Preference c) Association
Q4. How does the brand build its awareness ( communication strategy).
Q5. How the communication has changed over time and reasons for the same.
Q6. Propose ways to increase the credibility of the brand.
Brand Equity:
Brand Equity reflects existing market potential or Consumer mind share and is not an exact reflection of sales data. It is the mix of Awareness, consideration and the Association of the customer with a particular brand for a particular product or product category.
Q-1 : Identify a brand in your own company
I am working with Bharat Petroleum Corporation Limited. Our Company is involved in Refining and Marketing of Petroleum products. Pricing and distribution of some of the products are controlled by the Government of India but Lubricants marketing was opened in 1990 and is controlled by market dynamics.
BPCL has established its MAK Lubricants as an Umbrella brand for vide variety of lubricants used in Automotive, Industrial, Marine sector extensively. BPCL has a market share in the range of 5-6% in the domestic market. Thus BPCL Lubricants have been taken as the category while studying the Brand measurement.
Major competitors :
Major players in Indian market in lubricant marketing: Lubricant market in India was opened in early 1990. Till such time the market was dominated by Public Sector Undertaking namely IOCL, HPCL and BPCL. With the opening of the market MNCs viz Castrol, Gulf Oil, Shell, Mobil, Elf etc. entered in Indian market and intense competition started amongst more than 25 players. MNCs were having better technology, Marketing tactis and deep...