An Introduction To CULT BRANDING Presented by:-Md faruque ansari COCA COLA GROUP What is cult branding?
:- According to oxford dictionary, cult means something
that is very popular and fashionable among a certain group of people.
Cult branding is also known as Spiritual branding
According to some researcher cult brands are well
known brands and some opines that it is the brand with high emotional bonding. When the emotional bond is very strong between brand and customer then they go beyond the co. Policies and organize activities themselves. For instance readers of Harry porter discuss the secrets of latest version and the Nokia handsets owner exchange ring tones and logo with others. The followers of cults are diverse groups, ranging in age from eight to eighty and cut across all ages,races,genders,creed and socio economic background. The motto of cult branding is “Dare to be different”. PROCESS For the last 40 years cult is prevalent in the market. However do not become cult brand overnight. Over the year, they have created strategies, fulfilled a range of needs for the customers and create a sense of belonging among the customers. The customers have very strong belief and moreover the devotedness for the brand. Such like-Harley davidson,Red bull,Volkwagen etc Customers point of view 1) Customers are passionate about the cult brands.
2) These brands belongs to the customer and not to the
marketers or company.
3) Cult brands works to fulfill their customers,
dreams, passions and aspirations. Maslow’s Hierarchy of Needs • At the bottom are physiological needs, which include basic things like food, shelter, and clothing that we all need to survive. • At progressively higher levels are the needs for safety and security, social interaction, and self esteem. • At the top is self -actualization - Maslow's term for the ultimate human need to learn, grow, and reach one's full potential as a person. www.cultbranding.com How Does This Relate To Cult Branding? Higher level needs influence future behavior much more than lower level needs. Cult branders enjoy incredible loyalty because they work hard to connect with their customers at the very highest level of Maslow's Hierarchy. They don't just offer great products and services, but they needs for social interaction, esteem, and self-actualization. They make customers believe that your brand has no equal. BENEFITS 1)The brand and the customer work like a loving Family. Their relationship works on the human Feeling of loving, caring and belonging.
2)Pareto principles(80/20)-small percentage of
Customer can drive over 80% of profitability.
3)The spread of positive word mouth publicity is
Sufficient to gain new customers. SOME EXAMPLES OF CULT BRANDING HARLEY DAVIDSON
This brand come into existence in 1903 and has since
been enticing and charming bikers over the world.
The cosponsored rallies wherein Harley Owner
participate and share their feelings, which become affective means of promotion. VOLKSWAGEN The German automobile company.
In spite of being a shaped like a beetle and no
attractive to the eye intially,it gained the image of being a safe and reliable car.
The new bettle succeeded in attracting the younger
generation also. RED BULL It is an energy drink which has an cult following.
Though the taste of the drink was not so good
consumers were addicted to it because to them it was not a drink, it was a way of life. Strategy Cult brands do not merely sell products or service of the company.
It develop a long term association with the brand.
In order to better facilities the suggestion and feedback
from the customer is considered.
Reward for the best suggestion.
Authenticity,values,reliability,determination and passion
are also important in staying connected with cult brands. Cult brands in India India is segmented and diverse country as it has many cultures, lifestyle and traditions.
There is less homogeneity(a large no of people follow a
common lifestyle and behavior).
Rasna having popular among children couldn’t make cult
brands and also the boll wood stars cannot create a magical effect as Michael Jackson. REASONS Indians are encouraged to fit in rather than standout. Cult brand go beyond this approach because it works in dare to be different.
There are more number of strong regional brands.
Indians think about the value or money and real
worth, when it is a matter of associating with a brand. Strategy which should be made Company need to develop a vision. This need a lot of brainstorming and huge financial support. Too many control exist in the business due to which the brand do not become strong enough to acquire a cult. The entire perceptions of viewing brands need to be changed. People generally like to be different and be a part of community that acts different. Brands must create unique identities for themselves, establish bond with the customers that go beyond just the purchase point and reinforce these bonds constantly to acquire a cult status. The “dare to be different” concepts needs to be used by the company. CONCLUSION So the cult brand is not only related with the customer, it also became a different way for the company in India. It requires huge amount of creativity, coordinated effort and a sustained vision on the part of the companies. As well as the perception of the customers should also be changed. The psychology of customer must be understood by the companies. Like new ideas according to the taste and preference. THANK YOU