The proliferation of technology, with the growing expectations of customers, has led the companies towards a technological revolution across the globe. But the recent trends suggest that a company is driven not only via its technological advancement, but also its brand image that helps it maintain that momentum. And often times, companies are not even well aware about its lessening visual identity until the magnetism fades in attracting the target audiences. It is a slippery slope and requires a lot more to successfully rebrand than merely tweaking the logo and hoping for success. But exceptions are always around to make one believe, even in the face of harrowing odds.
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Published on Jul 21, A case study of Godrej to discuss the branding strategies.. Only FMCG sector is taken into consideration. SlideShare Explore Search You.
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Actions Shares. Embeds 0 No embeds. No notes for slide. Godrej Branding strategies 1. The brand has come a long way from manufacturing its first safe in till creating Gojiyo, a free browser-based 3D virtual world in The brand has 7 major companies with significance in real estate, FMCG Fast Moving Consumer Goods , industrial engineering, appliances, furniture, security and agriculture with turnover crossing 4.
The Godrej Group, 2 Brand Audit This helps in measuring the health of the brand and revealing the sources of brand equity. Through brighter living the company is targeting to bring their brand to life.
Issuu, It means challenging prejudice and confronting convention. Expression is giving customers the products and services to express themselves. This enables internal marketing by word of mouth which they believe is more reliable than any TV commercial.
The company thinks that in open speaking of the mind lays the power of all transformation. Empathy means taking time to connect with their customers and thanking them. The agenda is to know the customers thought and understanding how their product is part of the world. The Economic Times, People prefer their products because they are convinced of the advantages over other brands.
The PODs is created due to functionality of their products and services which delivers good performance. In order to understand the reasoning behind the influence, 20 primary surveys were carried out using certain brand related questionnaires with diverse respondents. Annexure 1. Also to gather more inside information, 2 interviews were also carried out with existing employees of the company. Data was analysed by comparing responses in percentage basis.
The outcome of the survey helped in getting a coherent picture of the brand as the collected information relate very well to the outcomes of brand inventory. Some of the analysed data is shown below. It helps in understanding how the foundation involves achieving brand salience with the ultimate goal to reach at the summit of accomplishing brand resonance.
Their products are the first that comes to the consumers mind when considering a commodity in that category. The Godrej Group, , but the shortcomings lies with effectiveness of the serviceability as company do not provide delivery and installation option in all the places.
They also have nostalgic attachment with the brand as it its products generates a symbolic connection with the preceding generations. Brand credibility is extremely high. Trustworthiness of the brand is reflected as the company prioritise the old suppliers more than the new, despite of the fact that they give less business to the company but yet former were there when company was working on its foundations. Insights Godrej, Finally the likeability is due to the new wash of colours in the iconic logo.
The change- hungry, tech reliant youths are now able to recollect brand easily. Positive feeling is due to the sentimental attachment, warm heartedness and love with the brand. This builds the right emotion. Figure IV Feeling and emotion for Godrej 2.
This is because of the strong relationship that results in loyalty by the users and stronger ability to defy competitive actions taken by rivals. For instance, the behavioural loyalty is extremely high in FMCG sector.
Times, ; the attitudinal attachment is high for Godrej properties; the active engagement with the Godrej Industries is high because of growing share value which promises good returns to the investors. The current position still not makes them complacent as they keep on innovating and upgrading themselves because constant vigilance is indispensable to sustain the present position in the minds of the users.
First is serviceability in brand performance and the second is creating sense of community through brand resonance. Further the strategy should also target to cater different market segments and also to explore the possible opportunities such as penetrating market of different countries. The shortcomings observed from the CBBE model has to be targeted while developing strategy for the company.
But do have a immense scope for extension and going global. The company launched brand Cinthol Ref Tab 1 through just soaps but then ventured into powder, deo spray, gel etc. The outcomes were very fruitful and now the company excels in the all the fields they operate. The company keeps on extending the range of varied products in their list but capping them under the same brand name. Further the company extended their product line by launching a sub-brand called Godrej No. This was done to pursue numerous market segments who desired for a cheaper alternative.
Both of these steps were taken because the company wants to increase their shelf presence. This also helps them in achieving economies of scale in brand development, advertisement, merchandising and obviously sales. Recommendation Presently the company has adopted the brand extension strategy and is following it safely but they can also opt for product flanking for certain brands.
This may cover many market segments by offering same product in different size and prices to tap the infinite market opportunities. This will make the product more affordable to lower segment of consumers. Further the regular customer can use them as a trial or for travel which might build more market in long run. The Godrej Group, The group must try to cater international opportunities by expanding their global reach. One of the reasons to go global is the increased competitors in the domestic market.
The company can diversify their risk by targeting the less developed and developing nations because of their affordable prices compared to their rivals, on which they can compete.
Amendments in the packing and names to fit local populace and market needs. The company should understand the similarity and differences between Indian and foreign market. They should retain their thematic consistency but upgrade their presentation for developing countries and alter them for other less developed countries. It involves a lot of considerations and risks.
Customised marketing campaigns are required to satisfy the local market segment. Creating a marketing infrastructure in a new country is time consuming and involves lots of complications. They can cultivate further brand relationship by creating alliance with companies in developed nations as their product might require up gradation for these markets.
The company should adapt to capitalise on existing marketing infrastructure which can be done by joint ventures or acquiring certain stakes in others holdings. The Godrej Group, This was a poor decision as huge investment was involved and is not successful Insights Godrej, hence not a recommended option for global branding. The brand value will be created by building profitable sales. Customers might shift to other brand due to price increase but on the contrary sales would be augmented on decreasing price Market Share It will increase in developing nations due to the geographic extension strategy Brand Expansion Presently 'Godrej' follows line and Category extension and is very successful.
This adds revenue to the company. Cost Structure Initially this would be high because of advertising. Once 'Godrej' establishes itself in target customers mind, cost can be cut due to economies of scale.
Brand re-invention: Logo is an influential branding instrument
Established in , Godrej Interio is one of India's oldest and most trusted furniture brands. They are considered market leaders in their segment and have an extensive reach across the country. Godrej Interio wanted us to be part of their brand evolution, to create a style that would reflect their ability embrace change to meet their consumers' needs. These meaningful relationships begin with the talented folks who design each piece, and extend to the massive institutions that outfit huge spaces with their work. This is our Brand Mark. We created it using Cera Godrej Interio, a typeface we customised exclusively for the brand.
Godrej - Rebranding
The Rs 7,crore Godrej Group has finally unveiled its brand new corporate identity and branding strategy at itsheadquarters in Mumbai on Friday. It was two years ago that the year old Godrej Grouphadappointedglobal brand consultancy firm Interbrand to reposition its master brandwith a makeover that makes the group identity modern as well as contemporary. Unveiling the groups brand strategy,group chairman, Adi Godrej said, The Indian consumer now has a more demanding and youthful mindset. At Godrej, we have always been at the helm of changing and redefining the marketplace and this will now be reflected in a marketing and branding strategy that accelerates profitable growth. Incidentally, Godrej had closely worked withInterbrand to study the Godrej brand across employees, consumers, investors and business partners and redefine its approach to harnessing the brands intrinsic strengths. Using the Godrej brand as a unifier of our businesses and people made sense because it is our most valuable asset, it cannot be replicated and it spans all our businesses.
Punjab National Bank unveils new logo. Coal India's logo wears face mask on social media. Taxman demands GST on brands, logos. All rights reserved. For reprint rights: Times Syndication Service.
Godrej plans retail rebranding
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