The most important part about a brand is not what it is but why is it important to brand something. There is a huge overflow of products in the market and most people get confused about which product is better, the measure being the price paid and the use of the product. However, with changing mindset, increase in the power of money and with constant efforts by companies to beat their competition, branding has become one of the most inevitable phenomenon for all companies.
The concept of branding in India dates back to 1100 B.C.E to 500 B.C.E, when the saints invented a herbal paste known as Chyawanprash, which was considered to benefit the human health in numerous ways. In terms of trademark, the British firm, Bass & Company, claims their red-triangle to be the torch bearer.
The market is highly competitive in today’s date. Everyone wants to be better than the rest and to be on the top, branding is the basic necessity. Today all companies are recognized by their brand name, i.e. the bigger the brand’s visibility, the better they sell. So, what should a brand do to better their branding? Develop a good branding strategy? Create an attractive logo? Establish an easily memorable trademark? Or develop a catchy tagline? Actually, the answer is all. It is not enough to simply have a logo which is beautiful or a tag line which is attractive, if people do not get to know about it. Marketing your brand right is what makes great names. For example, why is it that we remember Starbucks so prominently and not other coffee shop brands? It is purely because of the constant interaction that the brand has with its customers and the beautiful service they provide. Obviously, performance is important along with good advertising.
Importance of Social Media
Have you ever thought, why is social media the centre of almost everything in today’s date? Well yes, it is free publicity and your audience is huge. Once your brand is out there for people to criticize, applause and talk about, you know you have high chances of being popular. This can at times get tricky, as you need to have a dedicated team, just to take care of your Facebook/Twitter pages and other social media channels so that your customers do not feel neglected or unnoticed. If your brand can establish the fact that you are transparent and care about what your customers actually want, you are sure to be a favourite.
What People Think about Brands?
Why exactly do people wear branded clothes or buy branded goods? This is primarily, because they trust the products to be of good quality and secondly because it is something that defines ones social status. Others also try to bring in factors such as consistency in fitting, the quality of the cloth, the options of exchange and availability in various places and more. However, if we notice the actual reason, this is simply psychological. Brands project themselves as their customer’s friends and take care of their needs consistently. This increases the faith of the people on the brand and instigates further purchase and once a person gets habituated to a particular brand, leaving it becomes a little difficult. This habit formation, in marketing language is called brand loyalty.
It is actually the non-tangible aspects that a brand needs to touch, while interacting with their customers to make sure that they get noticed and believed. This does not only include trying to put forth the products and services the brand sells but rather, the values and beliefs of the brand. These also need to visible in the ads and brand statement projected by the company. For example, Fastrack’s brand statement “Move On” is in alignment with the young mindset of the nation and their ads are completely in line with this. Displaying rebellious attitude towards highly discussed issues such as ‘gay sex’, or ‘being confident about who you are’, has worked immensely in favor of the brand.
The Solution
For a brand to be successful or rather stay successful, it is not enough to simply establish itself as a desirable brand. Instead the challenge is to keep sustaining as the most sorted after brand. This can be achieved through consistency and frequency of content which the brand puts out via social media channels.
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