We all know that Brand exists in the mind of the customers. It is the customers who make or break a brand. So it is imperative to understand the parameters which affect the customers to endorse a product and take the product to its zenith i.e. Brand status.
Some of the important parameters to assess a brand are:-
1. Visibility (on roads, showrooms, shelf etc).
2. Media Presence (TV, print, outdoor etc).
3. Advertisement Likeability (customers understanding the ad message).
4. Sales/Market share captured (as Late adopters or Laggards go by this rule).
5. Parent Company (Customers’ belief in the parent company).
6. Benchmarking with other similar brands.
1. Visibility (on roads, showrooms, shelf etc).
2. Media Presence (TV, print, outdoor etc).
3. Advertisement Likeability (customers understanding the ad message).
4. Sales/Market share captured (as Late adopters or Laggards go by this rule).
5. Parent Company (Customers’ belief in the parent company).
6. Benchmarking with other similar brands.
These six pointers may act as a framework to develop a brand; and due importance to any of the pointers depends on the market it will be catered.
5 comments:
dude i dont agree with ur 4th and 5th point in this, they need not be in favor of the company, especially the 4th.
Actually the 4th point is primarily for the late adopters (remembering the bell shaped curve of customer types and these types of customers constitute a major chunk) are the skeptic lot and after much speculation they go in for the product which is also another fallout of WOM (word of mouth..example would be "Reva" as people have started buying it as sales of the product has caught on..
And the 5th point tells about certain customers who will initially look at the company image first like in case of cigarette as customers dont think twice about their brand because they know it comes from a reliable source.
I hope I have been able to clarify the points.
hello friend, i beleive in short run for brand development sales/revenue is not a parameter.
as u have mentioned yourself that its for laggards and late adopters but as per my experience they do not check out these things they believe in visibility & word of mouth..
As you have mentioned brand related to parent company, in some cases it not true who knows about candy i.e. fresh is from ITC even for few days even we dont know..
Let me tell you frankly many of us how are here dont about parent companies of many brands (in indian context).
In India major parameter is
1. Visibilty
2. Reach
3. Buzz
4. Media
5. Quality
In getting ourselves define things sometimes we tend to forget the fundamentals. Any brand is as good as the value it gives to the user, once this fades its off the shelf. Now the definition of this value is where we have to find out how it is going to act, whether quality, safety , lifestyle eg merc or economy, compact eg maruti. so I strongly feel that its this value tat dectates all other things. Every other factor which u had described is a derivative of this. In this it can be of two ways identify a new value and cater or create a value and generate demand eg Air Deccan.
straight out of the textbook, and into your blog...
Be a bit more innovative, buddy.
Suggest something radically different ... like anoter way to assess brands, and how to build 'em.
Cheers,
kundan
Post a Comment