Today is the time of infinite opportunities. On the one hand, there is globalization and on the other hand, there is Make in India and Aatmanirbhar Bharat Initiative. On the one hand, there are successful established corporates, on the other hand, there are start-ups that are showing signs of success. On the one hand, there are experienced eyes and on the other hand, there are young wings who are ready to give new ideas, new systems, processes, new products, services to the society every day.
We are not living in a time where there is only one monopoly business; Such as one insurance company, one big bank, one automobile company, one FMCG company etc. Today is the era of open market and in it we have more than one company in each category, sector, let’s say multiple players are playing in the market and fighting for their own market share. This leads to a healthy competition and benefits the consumer.
When such time comes where the market becomes competitive, one can experience the birth of the above-mentioned new alphabet. This alphabet plays an important role in any business, sector, category.
We are familiar with adage “out of sight is out of mind”. Advertising works to keep my product awake and to make sure it doesn’t get out of people’s minds. But is that all I have to do? Because in this market my competitors do the same thing that I do. So, what should I do differently? Brands are born at such times. This word is not new these days, because people want a brand, not a product. Ask any business person today and they will say we want to build our brand. Good thing! But am I ready to make it? Making a brand is like chewing iron chickpeas. It’s not as easy as we say. The biggest factor in creating a brand is investment. Apart from the capital investment one requires more investment of patience and time than that. It takes time and patience to be a brand.
Many would argue that a brand can be made overnight. There are many brands that have become overnight, but whether to really call them brands is a different question.
As some plants grow faster and wither, still they can be considered in the category of plants. Likewise, in some cases they can be said to have become a brand, but the question remains whether they have been established or not. The brand can be compared to a banyan tree and not to such a plant. Just as a banyan tree needs to be cared for in a certain way, so too needs special care to be used to establish a brand. As the banyan tree slowly bears fruit and once takes full shape, people can enjoy the shade for years. Same way shade and fruits can be felt after a brand is established. When years after years, after all the seasons, after seeing the sunshine, after sweating the hard work, the brand that is ready does not only become a market leader or a category leader but it also becomes a synonym of category.
Just like when we go to get chocolate, we don’t say give chocolate, but we ask for Cadbury, Similarly for Colgate for toothpaste, Xerox for photocopying and so on for many other categories. These brands have made a home in our minds. This is the criterion of a successful brand.
Another comparison of the brand can be made with humans. Just as a man differs from another man by his name, appearance, temperament, character, behavior. Brands differentiate themselves in the same way. Man is created by nature. When man creates a brand, he is vigilant to create something different. When this differentiation arises between two products, it is established as a brand. A different name, appearance, color, packaging, and most importantly its positioning.
When the brand is ready with all the above, Advertising does its job to keep the brand awake and reach the minds of the people and to stabilize further.
Advertising and brand complement each other, brand takes the help of advertising to promote it and brand is established through advertising. There are two terminologies; established brand and brand building. Both are contradictory words but, in this way, even an established brand has to continue to do brand building consistently; this is called a brand sustenance strategy. This means that the work of advertising is not limited to launching the brand, it also does the important work of sustaining it. And so, it is said that brand building is a continuous process.
The person thinking for the brand, has to decide WHETHER I WANT TO JUST CREATE A BRAND OR WANT TO ESTABLISH A BRAND. “To grow a plant which wither fast or to plant a banyan tree.”
So, with that note; start learning the new brand alphabet, learn by heart and pave our foundation. So, say A for…
Some parts of this article are excerpts from the book “BRAND BANSHE, BUSINESS VADHASHE”, written by Sameer Joshi, Founding Partner – Sam & Andy.