Are you just producing Product or "Brand"?

"People will forget what you said, people will forget what you did, but people will never forget how you made them feel"                                                               -- Maya Angelou

Brand

Cococola, Adidas, Pepsi, Puma, Sony, Apple, Cadburry, India...what you think they are mere words or more? Yes they are not just words, they are "Brands". So what you think Brand is? As per American Marketing Association "Brand is a  "name, term, sign, symbol, or design, or a combination, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.” But is it so only differentiating element make some word to Brand? Brand is much more than that. In simple words Brand is something which acquires unique space in consumers mind and which makes selling price of 1$ product to 10$ or more.

Consistent, strategic branding leads to a strong brand equity, which means the added value brought to your company's products or services that allows you to charge more for your brand than what identical, unbranded products command. The most obvious example of this is Coke vs. a generic soda. Because Coca-Cola has built a powerful brand equity, it can charge more for its product--and customers will pay that higher price.

What is Branding?

In simpllified lanuguage Branding means process of converting "word"(Coco cola) into Brand (). Branding is entire process involved in creating a unique name and image for a product (good or service) in the consumers' mind, through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers.

Why Branding is necessary?

1) To familiarize target customers with the symbol or logo, the brand's concept and making them knowledgeable enough to expect a certain set of benefits.

2) A rational claim of superiority isn’t possible. So the brand positioning is the primary differentiator.

3) By positioning, marketers try to occupy a portion of the mindspace of customer and create the brand image and brand personality in the long run

4) Brand Communication(BC) aids in achieving “intangible” positioning. The BC and the style of BC both contribute to articulating and embodying these differences

5) Consumers are becoming increasingly fickle and savvy. For organizations this implies placing more emphasis on consumer needs and expectations as well as heavily investing in advertising.

6) Volatile markets and increasing product parity.

Some Branding Examples.

1) "Amul - Taste of India" having Single theme for 42 years, More than 3 generations, Highest brand recall ever, Recognized and appreciated for consistency , wits and innovation, Always focus on “Common man”, Consistent through its advertisement on all contemporary issues like sports, society, politics, entertainment.

2)Cadbury in India - Some initivatives/Campaigns for Branding are "Snacking ka meetha funda", Real Taste of Life' campaign, shifting the focus from `just for kids' to the `kid in all of us','Khanewalon Ko Khane Ka Bahana Chahiye' campaign', Celebratory occasions- “Pappu Pass Ho Gaya” from all Cadbury India establish itself as a Brand.

3) Is there any another company in the world that works harder to build genuine relationships with their customers than the Harley-Davidson Motor Company? Harley-Davidson is an outstanding example of a company that has created loyalty through a pattern of steadfast interactions with its customers. How easy is it for your customers to interact with you? Could you reinvent the customer experience in ways that would strengthen the sense of affiliation that the customer has with the products and services of your company? The sponsorship of a "Harley Owners' Group" has been one of the most creative and innovative strategies that has helped create the experience of this product.(Source: Case study: Harley Davidson by Josef Schinwald)

4) There are many Good Branding examples like Apple, Dell, Incredible India, Cococola, Sony, Tata, Airtel, Vodafone.........

So What you want your company be simply word or Brand?.