WHAT IS A GREAT BRAND???
Great brands sell & sell repeatedly generating an ever increasing & sustainable revenue and profit stream and they do this continually dealing value for customers and customers through being relevant and differentiated.
Great brands are great business that has pricing power and staying power they don’t rent volume for short term gains .Great brands make people feel good about the decisions they make .They stand for something that is important to consumers and every action reinforces what the brand stands for. Great brands become icons or symbols against which every other brand is interpreted. Great brands energies people and galvanize action
Brands have to earn trust of their consumer’s everyday in some cases several times a day. Great brands are made by the people who understand the intrinsic value of the brand as a business. Organizing for stability is not a good plan in this environment organizing for change is and brands that think and act like insurgents in this environment giving people reasons to vote for them will win.
Brand Equity and brand value is not about intention or attitude it is about preference and usage.
Great brands understand that!!!!!
Great brands sell & sell repeatedly generating an ever increasing & sustainable revenue and profit stream and they do this continually dealing value for customers and customers through being relevant and differentiated.
Great brands are great business that has pricing power and staying power they don’t rent volume for short term gains .Great brands make people feel good about the decisions they make .They stand for something that is important to consumers and every action reinforces what the brand stands for. Great brands become icons or symbols against which every other brand is interpreted. Great brands energies people and galvanize action
Brands have to earn trust of their consumer’s everyday in some cases several times a day. Great brands are made by the people who understand the intrinsic value of the brand as a business. Organizing for stability is not a good plan in this environment organizing for change is and brands that think and act like insurgents in this environment giving people reasons to vote for them will win.
Brand Equity and brand value is not about intention or attitude it is about preference and usage.
Great brands understand that!!!!!
(Excerpts from Vinita Bali’s Interview)
Posted by:- NAMRATA.S.BAHIRSHETH
PGDBM
4 comments:
Quite a interesting read namrata. I would like to know the rise of brands in sectors which already have an existing superbrand. What kind of marketing strategies did they use, how did they overcome the task of building a brand in the face of a daunting competitor?
Wish if you could throw some light on that with some supporting examples.
But anyway, it was quite a good read.
Rocky Paul
Rocky with the objective of answering your query i did some research and came up with this I hope this will answer your query.
Incase it doesnt please let me know.
The one interesting Superbrand that i have come across recently is the Asian Paints Brand...
The Asian Paints brand started in 1942 in Mumbai in a garage and now a brand name which has established its presence in the market and now it is a 1000 crore brand.The name Asian paints was picked randomly
from a directory.
Indian paint industry can be broadly divided into two segments
a.Decorative segment which constitutes the wall paints : exterior and interior, wood paints etc
b.Industrial segment which consists of automotive paints, and paints for industrial sector.
Decorative segment constitutes around 75 % of the total paint industry and Asian Paints is the market leader with around 44% share.
In the Industrial segment, Nerolac is the market leader.
Paints are usually considered a low involvement product.
In early sixties the choice of the Brand was taken by our own contractors builders and interior Decorators but during sixties Also Asian paints felt the need for brand Building.They even had a mascot called " Gattu" created by famous Cartoonist "R.K.LAxman".
They repositioned their brand for the mass market as well for the rural areas.But soon realised this was increasing their volume but not improving the mind share of the brand Asian paints. The Mindshare was also low.
During 1983 the company tried to repostion the brand as a premium brand.
The objective was to upgrade to a more margin premium product marketer .The corporate campaign " Spectrum of Excellence" was aimed to increase the Salience of the brand in a quiet market.
But this campaign failed to inspire any interest in the consumers and the company felt that the market is moving towards a commodity market where price is the most important differential. Asian Paints undertook a consumer research aimed at understanding the perception of consumers about the product category. The research revealed lot of interesting insights. Consumers felt that paints could change the mood of the space and it was a sign of festival and plenitude.It could make a gloomy place bright and pleasant. From this insight came the campaign of Asian Paints associating itself with festivals. Research also confirmed that customers tend to repaint their houses on the occasion of festivities. Thus born the campaign "Celebrate with Asian Paints". The campaigns were carefully crafted and there were different campaign for different regions. These campaigns effectively enhanced the brand equity of Asian Paints and established itelf as a premium brand. More than that , these campaign ensured an emotional connect with a brand in a low involvement category.The brand also phased out many subbrands and rest of the subbrands was brought under Asian Paint's umbrella brand.
Thanx
Namrata S Bahirsheth
hey namrata,
that was great read, i think that brought out the point pretty elaborately. While reading this article another challenger brand challenging the supremacy of the leader that came to my mind was that of Hero Honda and now fast rising Bajaj. There was a time when there was just the Hamara Bajaj scooters in the country and the company was so arrogant that they made customers wait for years to send their scooters. Later Hero Honda took away their market under their nose by tilting the whole market in favour of bikes rather than scooters. But now the once leader brand has woken up and dusted off its soiled clothes to fight a tough battle with the now leaders in the market, Hero Honda. The Gap which was once in lakhs of units has now closed in to just 35,000 units. Hero Honda now better sit up and take notice of this, coz now it is not just a question of who is the market leader in India but also of who is the largest maker of motorcyles in the world!!!
wow, namarata's reply was a blog post in itself!!!!
Rejoy
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