How to Contantly Renew Brand Differences
a brand is not just giving a name to the product and making it known to
the general public of the world. It is not just informing the public about
the organizations service or product either and branding is much
more than that. Brands and brand names play a vital role in any marketing
and in the areas of product differentiation.
Consumers have many expectations and it is the job of the companies to devise ways and means to satisfy and fulfill the particular category of customers expectations. The companys success lies on its ability to fulfill the various needs of the customers on an ongoing basis and that too in consistent manner and for achieving this many companies follow different methods and strategies, use many tangible and latent resources, and many practical solutions.
Catching a market share and a place for the brand name are the two main necessities of a company and all companies work tirelessly towards achieving these two goals. When you look into the original meaning of brand or the act of branding, it refers to the process of making an indelible stamp make using heated instruments on the bodies of animals such as buffaloes, to claim ownership or establish identity.
Hence in any brand analysis the job of defining precisely the brand name with its product will have to be achieved and to know how the brand transforms the scenario, you should know and analyze the following:
What are the evolving traits
· What could be the emerging benefits or advantages
· What are the results
· How good is the brand name in creating a fascination
Knowingly or unknowingly all the above-mentioned concepts are either not followed or totally ignored. And that could be the probable reason for many of the distributors owes in pushing certain companies products in the market. Any brand name is not a just an external thing meaning that the brand name doesnt just end with the packing or labeling. It has got more than that and should be specific in relation to the contents of the package.
The brand name should be able to make a customer relate to the identities of the product and make the thoughts of beneficial or the unique aspects surface in the minds of the customer the moment he/she sees the brand name, be it on the label of the product or on any advertisement. Further, any product that is devoid of any brand name or a label would be considered as just another general product in the crowd.
Any product that doesnt carry any label will be considered as worthless irrespective of the contents inside the package. When you consider the popular brands such as Lacoste or Adidas in sports wear category, you cannot just deny the confidence or the values that these brands can instill in the minds of the general public.
Despite the circulation of imitations, these brand names still carry an invisible yet strong message to the consumers. On the contrary, the imitated brands, whatever may be the level of its presence, the effect of brand name will be absent and hence that makes such counterfeits to be available at cheaper rates.
There are many marketing strategies such as slogans that has contributed to the success of a brand and it also proved to be instrumental in propagating ideas about the product. You can even see that brand is responsible for market trends and in many cases it is driven by vision and organize and revolutionize markets.
All the brands, in fact, aim at identifying fully with the product category, with an idea to have an effective control. And very often the brands end up disappearing within the product category and you can understand this better if you consider why brands such as Frigidaire, Xerox, Caddy, Scotch, Kleenex have become generic terms. The main purpose or the objectives of the brand is to transform the product category and to have an identity of its own. Hence a good brand will result in a strong product and a weak brand will thus result in a transparent product.
A Brand is a Long term Vision
The main criteria about the brand is that it should be specific to the category of the product and you can see why certain major products compete and dominate the markets just because of their strong brand names. Well-positioned and well-conceptualized brand can feed the transformations, which are implemented for matching the brand manufacturers ideas and ideals. This particular concept is responsible for the brands existence and success, for ruling the market and for providing guidelines for its lifecycle.
Making profits and giving employment are the two major goals of any company but when it comes to brand it is quite different. Strategies adopted for establishing a brand is completely different from that of strategies established for running the company. Offering better customer satisfaction could be one of the strategies for company and where as in brand related strategies defining and re-defining are a must.
The very concept of brand purpose is not at all discussed in detail in any of the textbooks. In an emerging market, the concept of brand is to create and influence the market more powerfully so as to prove the old saying of where there is power there will be energy. It is a well-known and accepted fact that companys financial position and the human resources form a base for a strong brand, but the brand derives its energy from the niche area occupied by the product category.
A brand derives its strength from this niche area and grows strongly. The leadership potential and the energy will necessitate the brand drive in the market. In the modern brand management this particular dynamic dimension is accorded a top priority that in turn is driven by the purpose and the vision of the product.
Further, when it comes to multi-segment brands the purposes are to be predetermined and to understand this you can take the example of cars. The available multi-segment brand is to be covered in all markets and each and very model with various versions should be made available in the markets so a to woo and garner the support from potential buyers.
In order to crate a continuous demand for the various versions of the cars, the company should be able to bring out various brands and type so as to cater to the needs of people of different categories.
Today meaningless slogans that are not capable of conveying any meaning or do not carry any sense can no longer convince investors or consumers and hence there is a need for a thorough and thoughtful search for meaningful slogans while promoting brand equity.
For example the slogan automobile spirit can neither tell you anything about the automobile brands ideal, nor help to guide consumers in knowing and making choices based on feature such as comfort, sturdiness, special features, etc. The spirit behind a brand can certainly be judged in a more precise manner from the products involved and through the style of advertising.
The idea about the content of a brand is to create a cumulative memory through unified ideas and other governing guidelines. A brand name is closely correlated to the product itself and it can bring forth a long lasting or a permanent memory about the product and stays in the minds as a very stable reference.
In case of advertising, consumers will be at best able to recall only the last few words or at best the last sentence and it can never register a permanent memory about the product. On the other hand the brand is a stronger message that can create permanent impressions and be able to bring the cherished ideas to surface by mere hearing of the brand name.
Constantly Renewing Brand Differences
There are few critical thoughts or arguments pointing out to the presence of various brands all centered around one similar product or in other words there are identical products with different brands. Hence, this situation has made critics to refer to branding as another gimmick or a gross violation that thwarts customers confidence and such critics also argue that because of this, todays market is flooded with similar products with different brands.
However, this thought or the view cannot hold water when you take into consideration the time factor and the rules governing competition or the MRTP (Monopoly Restrictive Trade Practices) act. Brands are meant for drawing attention towards a particular product and to create a market for them.
Stiff competition in market and any brand innovation will certainly result in copying act or plagiarism. Any quick responses made towards a particular aspect will soon become a standard and the customers or the buyers also get accustomed to it very fast and hence it will become a necessity for the competitor to adopt to the changing trends to make his presence in the market.
There may be an instant acceptance to few of the innovative brands but to enjoy a continuous patronage in the market, the brand name should be made to make a mental patent in the minds of the customers. If this could be achieved, then the first such innovators product will linger in the minds of the people as a pioneer product even when many such similar products enter into market at a later date.
Whenever the market is flooded with similar types of products, the prospective customers will always be interested to cross check the brand name that has entered into their minds long back as first or as a pioneer product and the shift will be in favour of the old product always. Hence the brand is capable of providing a sort of protection to the original innovator against the possible downfall and at the same showers the benefit of exclusiveness with regard to the product type. It is a well-known fact that an established brand will serve as a cushion for any of the threatening competition.
It is a well understood concept that the brand cannot just be considered as an another name or sign pointing towards a product. Brand creation is a creative process that may yield to new products such as product A today, then few new products such as product B and product C tomorrow, and so on.
are brought out on an ongoing basis and they come to life, live and disappear,
but brands are not so and brands are meant to endure and only such an
enduring angle alone can give the brand its real meaning and
purpose. A brand to acquire such a phenomenal place, purpose and meaning
will take enormous time but once achieved the brand position can never
get diminished in its value.