Let us begin with smashing some myths associated with brand…….
First of all a Brand is not to be confused with logo. A logo is the symbolic representation of your product. Here are some examples; you may very well know:
Secondly we should note that a brand is not the identity of the corporate house / venture either. Identity can confer to paperwork. Brand transcends physicality.
Finally the last myth to be busted is that ; Brand is never to be considered as a product. product is what you have to give to the customer at the very core of your operations. It is the output and not to be confused at all with its brand at any point of time.
So what exactly does a Brand of a product refer to ?[/b]
In fact it is the innermost feeling about the product , that the customer has ; about the product , the service or the company at large.
The idea behind the terminology is that a parameter was needed that could quantize the feelings of an individual about the core product of a venture contrary to other methods ; despite our rigorous attempts to keep them out. This brand value attempts to gauge people’s intuitiveness and emotional attachment to a certain product.
To be blunt ; it is a concept that takes the talk with which corporate boardrooms go on about their worth and tell us – “What it is “ ; dumps it ; and tells them – “ what the people say about it “ .
Need to cultivate a Brand –[/b]
If you were a firm in the 1940’s in India , you wouldn’t have needed it much. Monopoly was the name of the game. But nowadays there are so many companies offering the same services at the same price ; some may even be lower than your price. The people now have too many choices and too little time to make them. Hence a Trust between you and the customer will lead you to point at your product on the humongous display in front of him/her. This trust is what is essential for you to flourish in the market today. And this trust is what brand value is!
This trust[/b] that I speak of , is like a small child. You need to give them small surprises every week/month ; to keep them delighted don’t you? Be it the trip to Amusement park , a new toy , Ice-cream etc. So this trust[/b] is nurtured by delight.[/b]
[/b]
How significant is Brand Value ?[/b]
[/b]
Brand value is so significant that it is routed to be the single most authentic corporate invention since the spreadsheets. On interband’s list of the top firms on an Average brand value constituted 40 % of the core value.
Looking at this will clear the smoke a bit…..
[/b]
So what is the roadblock ?[/b]
[/b]
The problem arises from the trivial fact that in every company/organization there are two types of thinkers : Strategic and Creative.
Now strategic thinkers base their actions and thoughts on : Analysis , Logic , Linearity , Numbers and Verbal – connotations.
On the other hand Creative thinkers are a different breed altogether. They are fuelled by : Intuition , spatial visualization , emotions , and physicality of things.
To get them to collaborate is a Herculean Task. They are at the opposite poles. Almost every initial attempt will result in a frustrating soliloquy from one side and tactical retorts from the other. You as a manager will be at the centre of this chaos. Helm it right and you can be the next Columbus else a witch-Hunt is never far away.
A Charismatic Brand ?[/b]
[/b]
A Charismatic brand is the one for which people believe that there is no substitute. It sounds easy to read in a single sentence. But managers burn the midnight oil day after day and yet have failed to establish something on the lines of this in the global economy.
Some things that have come close to it in recent times are:
