4PS B&M Consulting Editor Endeavours to Unravel a new-age, Revolutionary, Path-Breaking Philosophy put forth by an Ad Guru that Puts The Age-old and much-revered concept of Branding to Sleep… Well, at Least if you Believe us Blindly !
Branding, for decades, has been hymned, celebrated, exalted, venerated and worshipped as the gospel truth by any marketer worth his FMCG lapels! The high priests have pronounced that the ‘Brand’ is ‘God’ and the ad executives, GCROEs (God’s Chosen Representatives On Earth!). For decades, the ‘brand’ has been acknowledged as the single most important aspect of business. Its success equals the business it drives. Branding’s prime objective remains the same – to make a product look distinct & different from competition and epitomise the vision & values it represents to gain that decisive cutting-edge lead.
The textbooks, to gloat over it, pronounce its value, power and criticality in no uncertain terms. Author Sanjay Tiwari in his much acclaimed book (The Uncommon Sense Of Advertising – Getting The Basics Right) offers his informed take in style: “Brands rule the world of marketing today because they rule the world of consumers today. They have not only changed the way we shop & buy, or consume, but have also had a profound effect on the way we live. Just count the number of brands you interact with since getting up in the morning till you sleep in the night.”
For some of us, he says, it might be more than the number of people we interact with in the same time. We don’t drive cars any more; we drive our Mercedes, Hondas & Toyotas. We don’t wear shirts, jeans or sneakers, but wear our Arrows, Allen Solleys, Levis, Wranglers, Nikes & Reeboks. We don’t drink cola, eat chips, burgers & chocolates, rather we drink our Cokes & Pepsis, eat our Ruffles, Pringles, McBurgers & Kit Kats. The brands that promise us a unique offer of utilities, benefits, values, personality traits, images and associations, that will satisfy our given needs (functional or emotional) and that we can relate to (consciously or subconsciously), are the ones that we identify with and show preference for. Therefore, more often than not, the brand (and its promise) extends beyond the product core. Successful brands often transcend their physical existence, take on a life and build relationship with their consumers. The positive experiences, values & associations that consumers perceive the brand brings to them leads to fulfilment of their expectations. The feeling of fulfilment becomes the reason for the success of the brand, and the basis for the relationship.
Ultimately, building brands is about running a marathon. And it makes huge business sense to invest in brand building. In fact, strong, reputed brands have a lasting bond with their consumers. Their brand loyalty is very difficult to break. The loyal consumer base raises the entry barriers for the competition and enables the company to enjoy benefits like premium pricing and sustained market share over longer periods of time. All these put together result in the brand being able to leverage in equity with the consumers and reap long-term profits for the company.
Branding, for decades, has been hymned, celebrated, exalted, venerated and worshipped as the gospel truth by any marketer worth his FMCG lapels! The high priests have pronounced that the ‘Brand’ is ‘God’ and the ad executives, GCROEs (God’s Chosen Representatives On Earth!). For decades, the ‘brand’ has been acknowledged as the single most important aspect of business. Its success equals the business it drives. Branding’s prime objective remains the same – to make a product look distinct & different from competition and epitomise the vision & values it represents to gain that decisive cutting-edge lead.
The textbooks, to gloat over it, pronounce its value, power and criticality in no uncertain terms. Author Sanjay Tiwari in his much acclaimed book (The Uncommon Sense Of Advertising – Getting The Basics Right) offers his informed take in style: “Brands rule the world of marketing today because they rule the world of consumers today. They have not only changed the way we shop & buy, or consume, but have also had a profound effect on the way we live. Just count the number of brands you interact with since getting up in the morning till you sleep in the night.”
For some of us, he says, it might be more than the number of people we interact with in the same time. We don’t drive cars any more; we drive our Mercedes, Hondas & Toyotas. We don’t wear shirts, jeans or sneakers, but wear our Arrows, Allen Solleys, Levis, Wranglers, Nikes & Reeboks. We don’t drink cola, eat chips, burgers & chocolates, rather we drink our Cokes & Pepsis, eat our Ruffles, Pringles, McBurgers & Kit Kats. The brands that promise us a unique offer of utilities, benefits, values, personality traits, images and associations, that will satisfy our given needs (functional or emotional) and that we can relate to (consciously or subconsciously), are the ones that we identify with and show preference for. Therefore, more often than not, the brand (and its promise) extends beyond the product core. Successful brands often transcend their physical existence, take on a life and build relationship with their consumers. The positive experiences, values & associations that consumers perceive the brand brings to them leads to fulfilment of their expectations. The feeling of fulfilment becomes the reason for the success of the brand, and the basis for the relationship.
Ultimately, building brands is about running a marathon. And it makes huge business sense to invest in brand building. In fact, strong, reputed brands have a lasting bond with their consumers. Their brand loyalty is very difficult to break. The loyal consumer base raises the entry barriers for the competition and enables the company to enjoy benefits like premium pricing and sustained market share over longer periods of time. All these put together result in the brand being able to leverage in equity with the consumers and reap long-term profits for the company.
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Source : IIPM Editorial, 2011.
An Initiative of IIPM, Malay Chaudhuri and Arindam chaudhuri (Renowned Management Guru and Economist).
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