The world of branding, re-branding, equity, marketing (including online), after sales services (ASS), salesmanship and advertisement (printed salesmanship) are inseparable and interconnected. In the ancient times the production preceded the marketing but today marketing precedes production. Any entrepreneur commencing a new venture studies the present and future market of the product (local and abroad) which he wants to manufacture. He will like to have a situation where the demand of the product exceeds the supply. The entrepreneur needs to make deep and wide studies of the market and all related aspects, inputs, competition and government policies in the product line. If one wants to have a upper hand then he must stay ahead of time . That is possible when we anticipate the future scenario and have innovative, inventive, intuitive (III) skills . We need to conduct marketing studies , consumer research , branding studies.
Now directly coming to BRANDING it is to say that we are living in an era of branded goods, products, commodities and services. People have become brands minded. The brand has become so much deeply rooted and embedded to our life , that we cannot think of life without that particular brand. For some people it becomes an identity of their personality. The presence of a particular product brand in life determines its powers. Today we are living in an era of aggressive marketing and cut-throat competition. By the entrepreneur there is multi-pronged attack to enhance turnover, by cutting costs, enhancing quality and other sales promotional activities etc.
Today companies are spending huge sums of money on marketing and branding research and studies to enter in to the consumer’s mind to know his tastes and preferences. Today to enter the market is one thing and to stay there is another. It is same thing as to reach the CLIMAX and stay there. Staying at the top is a herculean task which only can pay you rich dividends. Customer feedback is invaluable. One must listen from the other that if you want to buy a shirt then buy a particular brand only because it is so well stitched & finished , soft, cozy and comfortable, that you cannot miss it and will like to own it.
BRANDS beautify and identify your life. Sometimes it adds aura, charisma and glow to your personality . Although the word personality has both aspects inner & outer . Outer relates to your looks, dressing and body language whereas the inner relates to traits and values. Brand must have the powers to delight the customer and deliver an effective after sales service (ASS). ANY BUSINESS GOES / DEVELOPS BY ITS CLIENTS. IF YOU WANT TO PROSPER & BE SUCCESSFUL AND HAPPY, TAKE CARE OF YOUR CUSTOMERS. BRANDING is an ongoing process of innovations leading to Re-Branding . It helps indirectly in strengthening your EQUITY. PRIME & PREMIUM BRANDS get sold on its own. In the last I will say that to stand in the market go on REVIEWING YOUR BRAND periodically and regularly as it is your greatest asset . The brand only gets you business. The pricing and the quality are the important aspects need to be taken care of. PEOPLE MUST TALK OF YOUR BRAND IN THE MARKET. The building of your business is standing on the strong foundations of BRAND.
Today brand, fashion and style seem to have become synonym and sometimes we think that we are tied, typed and wedded to a particular brand. As the brand is applicable to the product , the same way it is equally applicable to services too. We need to make deep and wide studies and research on brand models, display and packaging methods . We need to insert in the mind of the consumer / customer as to how their branded product will enhance life quality and life longevity. In the days to come we have definitely to link our branded product with these aspects and concepts to stand for long in the market.
Today the survival of the fittest is replaced by the survival of the wisest & smartest. Today the entrepreneur needs to step in to the shoes of the customer to know his mind / psyche / thoughts and feelings etc. In the modern times the branded product is not a luxury or a comfort product , but a necessity product. Sometimes we cannot think of life without a particular branded product.
In Economics , we used to ask explaining one statement as to cheap labor is costly labor and costly labor is cheap labor. And we used to conclude that costly labor is cheap labor. The same way I will say that the branded product is cheaper than the locally made product due to the reasons to its quality & lifespan of the product. Definitely the cheap or locally made product one will be buying number of times and moreover it will not give comfort, quality will be low, utility will be low , lifespan will be short. So, keeping the same in view the branded product is cheaper exactly the same way as costly labor is cheaper.
BRANDING indirectly strengthens your goodwill and thereby EQUITY. Today we talk of hi-society and walk in hi-society and brand has become a status symbol. In Malls we go for branded shopping. Today one is known by the brand one chooses and the shoes or the dress one wears. It means brand has become so important for which we must know our customer and deliver him what he wants.
Today BRAND has impacted our life to a greater extent that directly or indirectly it adds to our success. Today we also talk of value based products and that is why we need to focus on values based brand . We need to continuously review our branding in the light of the latest market feedback , studies and researches.
The real, great, powerful, prime and premium brand carries the reputation / goodwill of the company, its people , its products, its values etc. This all delights the customer as the worthiness of his spending is justified. It quenches his thirst and hunger deeply . The entrepreneur need to manufacture eco-friendly & life-friendly products so that it enters and catches the psyche of the customer and empties his pocket (de-pockets) him. It is called daytime or open eyes robbery. The customer to be made to think that he can no longer live or feel comfortable without a particular branded product. THE RULE OF SUCCESS IS CONTINUOUS INNOVATION , R&D , LATEST S&T TO STAND IN THE MARKET. WITH LOT OF THANKS & REGARDS,