Branding

With the liberalisation of the economy, our country was exposed to brands from all over the world - from apparel to automobiles, consumer goods, electronics and even services and restaurant chains. These brands were not built in a day. It may have taken some meticulously worked out strategy, massive media spends and several years of consistently delivering value to make them the by-word of consumers today. Every great success story began with a modest beginning.

The starting point of a successful brand is its very name. What does the name communicate? Does it resonate with the purpose it serves or the values it embodies? Does the name catch the attention of the current and future customers and/or employees? Does it generate intrigue or interest in the minds of the target audience?

If the name ticks on any of these boxes, it's almost a good brand to start with.

A brand is like a reputation - it is an opinion and that can change. It can either be a good brand or a bad brand. So having a great name is just the beginning of the Brand Strategy. The only way to make a brand a good or big brand is by consistently delivering on the values promised by the brand to its buyers. The way to do it is to start doing what the brand promises exactly the way the consumer understands it or expects it. If the brand promises 'cheapest' then there should not be another vendor offering the same commodity any less than this brand. There are no ifs and buts when it comes to delivering on the brand values.

The brand itself eventually ends up becoming synonymous with its brand values. Finally, the brand needs to be reiterated so many times in the minds of the target market and general public that it has an instant recollect. This is done using a visual aid like a logo or symbol, audio clip or jingle and presented repeatedly via various media channels. Brand Recall is created when a common person can instantly relate the visual or audio cue to the brand. The frequency and timing of the advertisements also influence the impact of the Brand Recall.

Creating a successful brand is not the final end. In fact that's when one needs to be more vigilant to ensure that the brand is protected from fake/

from fake/counterfeits; cheap replicas using similar sounding brand names and even using similar visuals; and one's own complacency in not upholding the inherent/now established values that the brand represents. It is easier to destroy or lose a brand in the din of new brands constantly getting created in the marketplace. Hence, the struggle is maintaining the brand as much as establishing it. It's as fragile as the morning due on the petals of a flower. No sooner does the sun rise than the due evaporates.

A brand may be considered truly successful when it becomes generic to the category. Where that's the only or first name that one thinks of when considering buying that category. Xerox, Colgate, Surf, Bisleri etc are examples of generic brands.

Building a good brand is like boring a hole in a stone using drops of water. The focus is on velocity, frequency and consistency to drive a successful brand strategy.

'Your brand is the single most important investment you can make in your business ' - Steve Forbes

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