05/02/2013
The Philosophy behind Branding.
.......................................................
Branding is not just one way to distinguish one product from the next. Brand names are present in just about any aspect of our lives, from person to corporate identity.For companies to be successful strong brands is an essential factor, just like the saying “Rome is not built in a Day “ , a brand is not the product of a single days work but it’s the step by step approach to attain the ultimate aim.
Technically, branding is just the mix of symbols, names, terms and designs that companies use to differentiate its products from others but practically it’s action/process/system oriented which we follow to execute our task. A quality system of ex*****on will act as a catalyst to our branding.
Branding takes a copious amount of research, a lot of money and a lot of brainstorming to do right. Yet successful people go for branding since they are aware of the scenarios given below,
Branding helps distinguish you from your competitors. What sets you apart from generic products is your brand. A baby dipper is not just any baby dipper but an Pampers in Indian markets. It basically helps you fence off your customers from competition.
Branding means communication. Done right, your brand can easily communicate your company’s values, principles, message, and even characteristics. What do you think about when you see Wall Mart, or a Costco in the western market ? With a strong brand, you do away with having to bludgeon people about your company’s good characteristics and you can concentrate on your product’s selling points.
Branding helps you establish a reputation. The mere mention of a restaurant’s name makes some people to crave for their food. Branding helps people have these associations with and feelings about your products. For instance, in international market Nokia is known for durable mobile phones, while “you’re in good hands” with Allstate.
Brands promote customer loyalty. When a consumer has a good experience with your product, he or she will probably remember your brand, not your product. People would learn to trust your brand, so the next time they have the need for certain products and services, they will look you up. This loyalty would help you create an attachment among your customers and influence their emotional decisions.
Brands make it easier for you to introduce a new product. Strong brands pave the way for your business growth. Once people trust your brands, you can easily add another product to your product line or even get into a different area. Dove may have started off selling soap, but because consumers trust the Dove brand, they snatched up Dove body washes, lotions and deodorants when these new products were introduced.
Brands insulate you in times of crisis. Just imagine that you are a milk manufacturer in a country without brands. In it, groceries sell milk labeled only as “milk”. Now comes the contaminated milk scare from China. What happens next? Yes, do not expect that your product will sell!
Brands help you in times of trouble. When Toyota had to recall several of its cars, Honda overtook in terms of sales. Without brands, Honda cars would have been lumped together with Toyotas!
A strong brand can help you win in your consumers’ purchasing decisions. This is especially important in a market that allows for little differentiation in terms of product benefits and features. For instance, a white cotton undershirt. Without branding, people would just pick up the nearest package of undershirt they can get their hands on. However, having a strong brand, consumers would have certain expectations from your brand and some level of emotional buying, so they choose yours over the others.
So the philosophy of branding is simply being successful under all adverse conditions. You don’t have to bother the chicken crisis happen in china or the recall of Toyota cars even if you are owing a brand of car or a chain of chicken product centers.
