Team Code: IIMI3069

Classic
Vintage
Collector’s Value Swiss Geneve’
Understanding the Indian Watch Industry
Major trends and perceptual findings
Competitive Landscaping – Carving a niche’ for FC in India
Secondary Research - Findings
Primary Research
- Methodology
- Insights
SWOT analysis
Pros in segmentation and focus
Cons of this segmentation
Expanding the focus
New Positioning – Brand Key
8P Framework for FC
Associations
Digital Strategy
CSR
Watch with Devanagari Script

Utilitarian product
(know and manage time)
Low penetration and high growth rate show the opportunity in India
Market Segmentation by price**
Tablets
Laptops
Mobiles Wrist
Watches
Desktops
Lifestyle product
Wrist
Watches
Rs. 4200 Cr.
900
460 lakh pieces
2.1
86.5
1600
370
Cable TV
10 - 15% pa 1700
Industry &
Competition
Research
SWOT and
Brand Equity
STP and
Marketing
Mix
Time
10-15% Continued growth rate every year despite the increase in substitutes*
27 % Wrist watch penetration in India*
3.5 % of the India own multiple watches*
Value (Crore)
Segment Volume
(lakh pieces)
Mass 370
Mid
Premium
86.5
2.1
Price
<1,000
Volume (lakh pieces)
Value
(Crore)
1700
Growth
Rates
5-7%
1,001-10,000
>10,000
1600
900
8-10%
15-20%
*Source: Indian Journal of marketing, June 2013
**Source: Technopak Analysis
Integrated
Campaign
Devanagari
Watch

Trends
 Luxury brands account for 4% of total timepieces sales
 CAGR of
24%
 Increased presence in smaller cities fuel sales
 Special events and gifting occasions supporting growth, particularly popular gifts amongst Senior corporate managers and for Government employees
 Men are most likely customers than women
 Majority of sales from store based retailing in Tier I cities
 Green Luxury and Social responsibility is important factor
Prospects
 Penetration into leading jewellery and watch outlets like Malabar Gold in south India and TBZ in north India
 Online portals will develop as a retail channel
Various brands cater to different luxury segments like affordable luxury, aspirational luxury and absolute luxury
CATEGORY DATA
Sales of Luxury Timepieces by Category: Value 2007-2012
Rs million
Men's
2007
1,089.9
Women's 274.4
Total 1,364.3
2008
1,438.7
406.1
1,844.8
2009 2010
1,467.5
1,731.6
418.3
468.5
1,885.7
2,200.1
2011
2,077.9
562.2
2,640.1
2012
2,452.0
663.3
3,115.3
Sales of Luxury Timepieces by Category: % Value Growth 2007-2012
% current value growth 2011/12 2007-12 CAGR 2007/12 Total
Men's
Women's
18.0
18.0
17.6
19.3
125.0
141.8
Total 18.0
18.0
128.3
Forecast Sales of Luxury Timepieces by Category: Value 2012-2017
Rs million
Men's
2007
2,452.0
2008 2009
2,795.2
3,172.6
2010
3,585.0
Women's
Total
663.3
3,115.3
774.8
903.4
1,049.8
3,570.0
4,076.0
4,634.8
1,217.7
1,410.1
5,250.9
5,927.3
Forecast Sales of Luxury Timepieces by Category: % Value Growth 2012-2017
% current value growth 2011/12 2007-12 CAGR 2007/12 Total
Men's
Women's
13.0
16.3
84.2
112.6
13.0
16.3
Total 13.7
90.3
2011 2012
4,033.2
4,517.2
13.7
Source: Euromonitor
Industry &
Competition
Research
SWOT and
Brand Equity
STP and
Marketing
Mix
Integrated
Campaign
Devanagari
Watch

Brand image and status influence the older generation more, while others’ influence has a role to play among the younger generation
Results of a Primary Research survey done to study consumer based perceptions, and predict trends
Methodology: Survey
Respondents: Sample size 100; 50 Gen X, 50 Gen Y
Gen X
>35 years
 Titan
 Citizen
 Rolex
 Timex
 Tissot
 Calvin Klein
 Casio
 Armani
 7 – 8 years
 High brand loyalty
(Stable)
 Reason for loyalty: class, status and image
 complement them and their personality
 Few people
 “to own a watch for a particular occasion”
 Top-of-the-mind recall
Brand tag lines - LOW
Brand ambassadors –
HIGH
 Brand loyalty beyond watches -
LOW
Consumer
Comparative brand hierarchy
Multiple watches per individual
Other factors
Gen Y
18 – 35 years
 Fastrack
 Tommy Hilfiger
 Reebok
 Casio
 Gucci
 Diesel
 Calvin Klein
 Armani
Duration of brand usage
 2 -3 years
 Low brand loyalty
(Open to
Experimentation)
 Reason for loyalty: contemporariness, influence
 Aspiration to buy costlier watches
 Few people
 “to own a watch for a particular occasion”
 Styling aspect
 Top-of-the-mind recall
Brand tag lines – LOW but better than Gen X
Brand ambassadors –
HIGH
 Brand loyalty beyond watches -
HIGH
Secondary Research: Published in Indian Journal of marketing, July 2013 edition
Industry &
Competition
Research
SWOT and
Brand Equity
STP and
Marketing
Mix
Integrated
Campaign
Devanagari
Watch

All major competitors have a reasonably well defined emotional space
Origin
Target
Segment
Swiss
Super
Premium
Price
Points
Rs 1,00,000 +
Brand
Character
Omega signifies prestige and accomplishment
Benefits
Offered
A Swiss luxury watch;
Spirit of achievement
Swiss Swiss Swiss
Premium
Super
Premium
Premium
Rs 70,000 –
Rs 7,00,000
Rs 1,20,000+
Tag Heuer talks of self identity and self esteem
Success, accomplishment going beyond one’s limits
Rs 40,000
– Rs
5,50,000
Elegance is an attitude
A sports chronograph, self esteem
Symbol of success; a jewel
Beautiful designs, elegance
Japanese
Mid premium
Rs 6,000 –
Rs 1,00,000
Made to last beyond time
A premier well engineered watch
Analysis done through Secondary Research: Studying the advertisements, websites and Social Media
Industry &
Competition
Research
SWOT and
Brand Equity
STP and
Marketing
Mix
Integrated
Campaign
Devanagari
Watch

The grid below shows the top 10 brands in India* in terms of their
Products Attributes and Positioning
Mechanical Movements / Automatic Quartz
Exclusive Luxury
Industry &
Competition
Research
SWOT and
Brand Equity
Technical
Accessible Luxury
Design
STP and
Marketing
Mix
Integrated
Campaign
Quartz
Mass / Lower Priced
Source: Swiss Luxury Watch making Industry, Karine Gautshi, 2005
*Top 10 brands in India as per retailer feedback, as provided in the case
Devanagari
Watch

Corporate executives form the chunk of people who consider purchasing a Frederique’ Constant timepiece
Primary Research* was done in 2 stages by visiting various watch retail outlets in Mumbai
Methodology: Personalised interviews and Observation
Respondents: Watch Stores’ Retailers / Managers
Location: At the retail store
Stage 1:
Process: Interview with owners/ managers/ sales staff of various luxury watch stores
Objective: To determine luxury consumers’ preferences, and develop insights about their consumer behaviour and trends
Stage 2:
Process: In depth Interview with owners/ managers/ sales staff of 3 Frederique Constant Stores in Mumbai
Objective: To determine profiles of past Frederique’ Constant buyers, and develop insights about customer perception about the brand
Industry &
Competition
Research
SWOT and
Brand Equity
Insights :
• Luxury customers are extremely
brand conscious; One would rather buy a simple watch of a premium brand rather than a fancy watch of a brand not as premium
• Luxury customers are not as particular about designs as they are about the brand itself
• Indian luxury customers enjoy good deals – are value seekers
Insights :
• Frederique’ Constant is purchased / enquired about mostly by corporate
people and business executives (clear results of the focus and marketing till now)
• An FC watch is not perceived as designer/ fashion piece at all, and more of a classic
Swiss watch, purchased for quality
• The devanagari script watch found quite a few purchases from Politicians
*Detailed description and results of research in Annexure 1
STP and
Marketing
Mix
Integrated
Campaign
Devanagari
Watch

Differentiating strengths will form the basis of building brand identity
Strengths
Greater if it is a POD rather than just a POP
Can be leveraged upon to build Competitive
Advantage in the long term
Consumers need to be communicated about FC’s
Differentiators
• Swiss origin (Geneva)
• Handcrafted Automatic
Mechanical Timepieces
• Vertical integration delivering better quality
• Heritage value of timepiece
• Corporate focus
• Classic sedate designs
• New Entrant to
Indian Market
• Low Brand Awareness
• Lower number of mass campaigns (only focused promotion)
• No high profile ambassador
• Not perceived as a young person’s watch
Weaknesses
Show priority areas or focus areas for
Marketing
Highlight wrong strategies
Find ways to overcome effects of weaknesses through innovation / alternate channels
Industry &
Competition
Research
SWOT and
Brand
Equity
STP and
Marketing
Mix
Opportunities
Highlight new avenues to build capabilities
Conducive environment changes
Growing market potential that needs a good marketing mix to tap
• Increasing disposable income
• More upcoming ventures to partner
• Corporate gifting trend
• Target a younger audience
• Communicate the long term value of an
FC watch
• Mobile manufacturers entering the watch manufacturing space
• Cheaper substitutes
• Counterfeit watch market
• Older brands with higher equity in India
Threats
Increasing risk of environment factors
Risk of current brand strategy
Need to take up strategic brand building activities over a longer period
Integrated
Campaign
Devanagari
Watch

FC’s Brand Equity
Points of Parity and Points of Differenceº can help understand brand equity of
Frederique Constant in India
Points of
Parity
Points of
Differentiation
Swiss Watch
Sedate, classy, clear dial designs
Automatic handcrafted
‘Live your
Passion’
High quality
Durable
Collectors’
Value
Corporate
Focus
Heritage, story of founders
Devanagari script watch
ºAs per primary research with watch retailers, and secondary data analysis
Understanding Brand Equity of Frederique Constant in India
Measuring the Brand Equity
Brand Asset Valuator®(BAV)* by Young and
Rubicam Group used to measure equity
Niche’/
Untapped
Leadership
New
Unfocussed
Declining
Eroding
Brand Stature (Esteem and Knowledge)
Frederique’ Constant in India is differentiated in terms of its design, heritage, corporate focus and value, however, it still remains fairly niche’ due to the huge untapped potential
The long term goal of FC as a brand will be to move into the upper right quadrant (Leadership)
*Detailed description about BAV in Annexure 3
Objective
To achieve long term leadership in
India, Frederique Constant will have to create a strong, differentiated brand positioning and focus on the correct target according to the brand character
Since the luxury watch industry is already crowded with multiple brands, and each of them partly own equities of craftsmanship, precision, quality, and other functional attributes of automatic watches, to create differentiation, instead of competing in the same space, Frederique Constant to create Executional equity of ‘Live your Passion’ with other brand characteristics supporting as functional equities
Accessible Luxury
Vintage
Swiss Geneve’
Creativity
Collector’s Value
Heritage
Handcrafted Automatic
Industry &
Competition
Research
SWOT and
Brand
Equity
STP and
Marketing
Mix
Integrated
Campaign
Devanagari
Watch

Focus on Corporate Sector needs to be expanded to Professionals
Industry &
Competition
• Focussed Identity of a ‘Corporate Watch’
• Untapped to a great extent by competition
• Offer less expensive means for focussed promotions – as opposed to mass campaigns
• Too focussed, and the target may not resonate the brand as effectively as desired
• Segmentation and targeting ideally be based on psychographics for a lifestyle product
Research
Demographic Segmentation
Mainly corporate executives, however also including professional businessmen , musicians, doctors, academicians, sportsmen, journalists etc.
Income bracket: High income
Leveraging some of the merits of current
Strategy and rectifying some of the cons, we propose expanding the target to a larger group of ‘Professionals’
- business executives, doctors, lawyers, journalists, teachers, artists etc.
Psychographic segmentation
Based on Personality, Values and
Lifestyles
Passionate and mature individuals who appreciate beauty of niche’ handcrafted automatic designer products. They desire premium products to reflect their passion
SWOT and
Brand Equity
STP and
Marketing
Mix
Integrated
Campaign
Devanagari
Watch

Positioning of Frederique Constant and building the brand
The Brand Key* Model developed by HUL is used to understand the positioning of the
Frederique’ Constant brand, and to understand strategic fit of ‘Live your
Passion’ for passionate professionals
Passionate, Appreciation for Swiss luxury, craftsmanship, classic design
Luxury timepieces handcrafted with passion
Accessibility
Product
Philosophy
Made in Geneva Passionate endorsers, heritage of founders
Essence
Live your
Passion
Handcrafted in Geneva ;
Passionate about owning
& wearing an FC watch
Classic designs– A reflection of passionate professionals
Luxury time pieces,
‘’technology watches, luxury jewellery - bracelets
Insight
Competitive
Environment
Target
A passionate, confident individual wants a sedate luxury timepiece – reflection of his own passion and personality
A passionate person who has a desire for exquisite luxury and craftsmanship
Root Strength
Passion (profession, craftsmanship, design, interest)
Value through accessibility
*Detailed description about
Brand Key in Annexure 2
Industry &
Competition
Research
SWOT and
Brand Equity
STP and
Marketing
Mix
Integrated
Campaign
Devanagari
Watch

*
 Product level (Functional Benefit) - handcrafted, own caliber development, beautiful designs, new technologies
 Experiential level (Emotional Benefit) – “Live your passion”
Industry &
Competition
PERFORMANCE
 Accessible Luxury
 Price points – Rs. 45, 000 to Rs. 2.25 lakh
PRICING
P
P
P
PEDIGREE
 The Swiss connection ‘Geneva’
 Heritage: Frederique Constant – first names of great grand parents of founders
Research
SWOT and
Brand Equity
 Events
 Other Associations
PUBLIC
RELATIONS
(PR)
P P
PAUCITY
 Handcrafted quality constrains mass production
 Limited POS
STP and
Marketing
Mix
 Retail brand environment – heightening consumer experience
 Niche media – events, magazines,
PLACEMENT
In-flight entertainment
P
P
P  Distinctive projection – Passion
 Coherence across consumer touch points – events, associations
PERSONA  Visual brand identity
 Long form commercials/ short film videos targeted towards professionals
 Activation Programs – ‘Share your Passion’
PUBLIC FIGURES
 Garners attention, credibility and impact
 Personality resonates with brand aura (passionate professionals) – Harsha Bhogle, Chetan Bhagat
 Weekly podcasts about their stories and life, distributed across digital channels
Key Takeaways
 Experiential value is as important as product excellence
 Pedigree is important but it is also important to generate ongoing relevance and dynamism through Persona, PR
 Exclusivity and Stature through paucity and placement factor
*8P Analysis by BPG Group, UAE; Source: Brand channel
Integrated
Campaign
Devanagari
Watch

• Mobile Devices
• Social Media marketing
• Direct Emails
• Website and blog
• Search based ads
Based on the STP and mix towards building the brand, what we propose for the short term is a targeted campaign under theme of ‘Passion’
Industry &
Competition
Research
Digital
Marketing
Events and PR
• Corporate executive cricket and golf tournaments, offsites
• Exhibitions in 5 star hotels
• Annual Business Quiz – Passion
SWOT and
Brand Equity
IMC Media
Mix
STP and
Marketing
Mix •
• Reducing the electronic waste campaign
• Fund raising for specific causes
• Tie ups with hospitals and nursing homes
• Carbon positive manufacturing and service setups
CSR
Live your passion
Point of Sales
Promotions
Strategic advertising
• Print based
• Airlines screens
• Airports billboards
• Hotels, lounges and clubs
• Exclusive previews and concerts
Integrated
Campaign
Devanagari
Watch • Use of technology enabled devices (edisplays) at POS
• Small branded collectibles with every watch (depending on collection)

Endorsers
Get passionate people to endorse the brand – not necessarily high profile celebrity endorsers, but popular individuals who are passionate about what they do
Targeted advertising in specific media will help reflect brand character, and build brand salience; POS will help improve brand imagery
Suggested Advertising Communication Themes
Gifting during festivals
Gift yourself, Gift others - a perfect gift for the passionate professional
My Passion – my pride
Inspirational heritage and story of Frederique
Constant founders and their values and passion
Celebrate your Passion professional
achievements and milestones (first job, a promotion) - Rewarding yourself with an FC- a timeless masterpiece to celebrate your passion
Industry &
Competition
Research
SWOT and
Brand Equity
Channels for Advertising
Magazines
• Besides corporate magazines already used, Forbes,
Business Today and The Week Magazine
• Since the TG is now Professionals, lifestyle magazines like
Chip, Verve, Tehelka can be added
• ‘The Little Magazine’ featuring art, films, documentaries, poetry can be an interesting addition
Billboards
Outside airports, IT parks, studios, 5 star hotels
In-Flight entertainment for international flights bound into India
Point of Sales Marketing
E- displays and screens
At the POS technology enabled electronic catalogues can be used to display various ideas around Passionate.
STP and
Marketing
Mix
Integrated
Campaign
Branded FC collectibles
Refine packaging to include a branded collectible with every FC watch – Either it can be standard or varying as per the FC collection
Examples: A Frederique Constant
Stamp, a heart shaped ornament
Devanagari
Watch

Under the leitmotif of ‘Passionate Professionals’ a few communication
/ advertisement themes are suggested for each of the FC collections
Industry &
Competition
Inspired by passionate individuals, Manufacture is a range of exquisite handcrafted watches that signifies Passion for Innovation
Elegant, Bold; Runabout is a range of handcrafted, hand polished watches for passionate professionals who have an eye for detail
Research
SWOT and
Brand Equity
A collector's masterpiece;
Vintage Rally is a range of exquisite handcrafted watches which are a timeless signature of the collector’s passion for style and prestige
Live your passion
Feminine and sophisticated, classic and elegant, sexy in every detail; Ladies
automatic is a range of fine mechanical timepieces developed with passion by women for women. It reflects the values and aspirations of the modern, independent professional woman
STP and
Marketing
Mix
Integrated
Campaign
A Swiss masterpiece; Classic is a range of heritage watches known amongst collectors for their exceptional value; for the classic professional!
Devanagari
Watch

Promotions through exclusive Events & Associations will improve
Persona of the brand
Objective
To create awareness about
Frederique’ Constant among
Passionate Professionals in a targeted manner
Process
Convene professionals who share passions and educate them about FC while giving them a chance to live their passion – brand resonance
Industry &
Competition
Research
SWOT and
Brand Equity
Bringing the “Passion Awards” to India – Extend the theme to professionals
Sponsoring Niche’ Professional
Events and Concerts
Niche events like the Mahindra
Blues, Jazz concerts etc
Partner with corporate associations for sponsorship of corporate offsites for executives
Sponsoring Corporate Sports
Tournaments. – like Cricket,
Polo and Golf. An FC watch as a winners memento
Starting an Annual Event like a Business Quiz or a
Quizzes within specific
Professional domains
Participation in events like
Indian Luxury Expo & Mint
Luxury Conference
STP and
Marketing
Mix
Integrated
Campaign
Strategic Event Partnerships with Car Shows/Rallies which
FC does globally – Land Rover
FC Exhibitions 5 star hotels
Also fine dine pubs, lounges and restaurants can have promotions
Devanagari
Watch

“Digital is a common landscape for luxury consumers, so as digital content evolves and the web grows, brands are testing how to interact with their consumers in the digital space”
-Andrea Wilson, luxury practice lead, iProspect
70% of consumers prefer to hear about new products from Facebook friends rather than brands*
+ 57% have asked their friends on
Facebook for advice before purchasing a product*
=
Big opportunity for brands to play a stronger role on Facebook, Twitter and other platforms
Search Engine Optimization improves through uploading of fresh content on the website
Ads should be strategically placed so as to improve
 SEO
 Search guides
 Mobile Apps
 QR codes
Continuous engagement
FC Smartphone App
• Make and share your own FC watch design on the app
• Get information about FC watches and events
Mobile
Devices
FC on Social Media
Communities of Passionate Professionals
Besides brand FC page, FC should have an
India specific page – which should continuously be uploaded with fresh content about sponsored events, associations and happenings.
Since the new focused target are
Passionate Professionals, create forums where they can share stories, and interact with each other
Build activity through engaging content, promotions, taglines and contests
Invite passionate professionals to share their stories
 Loyalists, Frequent customers, Aspirational fans
 Enthusiast forums
 Brand moderators
Search
Social media
Digital
Marketing
Website
Have an India – specific micro-site on the website
Upload sponsored news and events to build identity of passion
Email
 Highly targeted
 High ROI
 High competition for attention
Emails to be sent to focussed professionals/ groups before and after events to build brand experience
 Big, beautiful images
 Detailed product descriptions
 Captivating lifestyle content
 Video and image galleries
*Source: 8thBridge report, 2012
Industry &
Competition
Research
SWOT and
Brand Equity
STP and
Marketing
Mix
Integrated
Campaign
Devanagari
Watch

CSR is an increasing focus among elite luxury brands and in India this trend is all set to take off in a big way
Recently in August 2013, the Indian Government passed a clause where companies will have to spend 2% of their net profit on CSR projects. It gives an opportunity to Frederique Constant to tie up with corporates for such projects, providing greater brand visibility, as well as strengthening support of the brand towards social causes
Frederique Constant - Heart Association
Sponsor certain fund raising events where charities and associations can put out presentations / shows and wealthy people, corporations and institutions can donate towards the cause. Since FC is associated in a big way towards Heart diseases, partnering with heart research institutes and hospitals is strategic in India as well. Social media can be used for promotions
Be a part of the Heritage:
All partnering charities, associations and NGOs to be rewarded with a trip to FC HQ in Geneva
E-waste
Creating awareness about the generation of tremendous amounts of e-waste generated through used cells in watches. Promoting mechanical watches and creating awareness about the longer life and collectible nature of watches. Creation of short films and viral videos to support the cause
Carbon Surplus
All manufacturing and service centers the world over - to be carbon positive or rather carbon surplus. This can be communicated through different media
Industry &
Competition
Research
SWOT and
Brand Equity
STP and
Marketing
Mix
Integrated
Campaign
Devanagari
Watch

Passionate about Indian design – a timepiece handcrafted for you!
Ethnic: a range of handcrafted watches for the
Passionate Indian who attempts to build a connect with his roots while at the same time making efforts to achieve grandeur
Primary Research suggested that the watch was fancied by Politicians
 Product inline with consumers’ values
 Indian consumer sees a sign of luxury in Indian culture/ ethnicity/ royalty
 Focus on ‘Political class’
Industry &
Competition
Research
SWOT and
Brand Equity
Marketing campaign on Social
Media, about Indian-ness
Share why you’re passionate about
India!
Imagery to feature ancient royal
Indian culture – jewels, ethnic handicrafts, surroundings
Promotion Campaigns along
National Festivals like 15 th of
August or 26 th of Jan
Special strategic promotions during
Gifting festivals like Diwali, Holi,
Rakshabandhan etc.
STP and
Marketing
Mix
Integrated
Campaign
Created for India
Crafted in Switzerland
For the Passionate Indian
Devanagari
Watch

Frederique Constant Stores visited in Mumbai – The Collective,
Watches of Switzerland.
Interviews with store managers/ sales person
Broad List of Questions / Topics discussed:
1.
What do luxury watch customers (watch purchase above Rs.
20,000) prefer the most? – Brand loyalty v/s design of the watch
2.
What are the most important factors taken into consideration while making such a purchase?
3.
What is profile of people who enquire about or consider the
Frederique Constant brand?
4.
What does Frederique Constant known for the most?
5.
Does Frederique Constant receive a lot of corporate orders?
6.
Which collection of Frederique Constant is the most popular?
7.
About the watch with Devanagari script – did regular FC buyers buy it or it attracted specific buyers?
Photographs of display Frederique’
Constant Watches at the POS

Results of the Research
What matters the most while making a luxury purchase
Brand v/s Design
Brand Loyalty Design
What FC is known for the most
• Swiss watch
• Sedate clean dial designs
• Quality
• Collector value
Brand Design Celebrity Price range Style/ Type of watch
Profile of people interested in FC
Most Popular collection of FC
Manufacture’
Collection Mainly
Corporate
Executives
Devanagari Script watch - India
Politicians :: and People who preferred something ethnic

The Brand Key model consists of ten steps to establish effective brand positioning. The ten steps have been described below:
1. Root Strengths- It is the original product, values and/or beliefs that made the brand great and on which we want brand to build.
2. Competitive Environment – List of competitors, including share of wallet and share of mind
3. Target – It’s the person and the situation for which the brand is always the best choice, defined in terms of their attitudes and values, and not just demographics.
4. Insight – The element of all you know about the target customer and their needs on which the brand is founded.
5. Benefits – The differentiating functional, emotional and sensory benefits that motivate purchase.
6. Values, Beliefs and Personalities – The brand values what the brand stands for and believes in and its own personality.
7. Product Philosophy – Our guiding product beliefs and principles and how we prove these principles through product experience.
8. Reasons to Believe – These are the proofs we offer to substantiate the benefits/brand experience
9. Discriminator – The single most competing and competitive reason for the target consumer to choose the brand.
10.Essence - The distillation of the brand into a core idea or promise.

The Brand Asset Valuator Model (Trademark of Young &
Rubicam Group) measures brand equity based on 4 parameters, as explained below:
1.
Differentiation: Difference, uniqueness and distinctiveness – Reflecting the brand’s essence and ability to stand out from competition. Also captures the brand’s ability to command a premium.
2.
Relevance: Personal appropriation to customers of the target group. Relevance is the source of the brands staying power.
3.
Esteem: The degree to which the target group likes the brand, and understands how it fulfils its brand promise. Esteem is influenced by popularity and quality.
4.
Knowledge: It means the ability of customers to internalize what the brand stands for. Knowledge is generally achieved over time, and marketing and media is crucial in achieving this.
• Brand Relevance and Differentiation together make up ‘Brand Strength’
• Brand esteem and knowledge make up
‘Brand Stature’