Brand name is not merely a symbol but a psychological attribute of a product. It is a status symbol that gives an identification mark to a product. Branding is the process of creating distinctive and durable perceptions in the minds of the consumers. Intelligent effort, time and money spent on branding can leave a long lasting effect on the consumer and its value comes back many a times over a period of time.
Mr. Sanjay Chakraborty, the Associate Vice President for Brand services at Triton communications Pvt. Ltd taught the effect of attitude on perception. He emphasized that the only disability in life is negative attitude. As we see brand and brand management from the eyes of this gentleman, he explains it with the most common yet most effective ways. He describes that good branding can be done only with the presence of five senses of human beings namely sight, sound, taste, smell and feel.
Sight- as we all knows that a picture is worth a thousand words. Therefore, it is very important to get the right and attractive logo for the brand in order to capture the minds of the consumers. Ex- Nike, etc.
Sound- a good rhythmic jingle works wonder and attracts the consumer. Ex- Airtel , etc.
Taste & smell –this has become a very important part of good branding as many brands can associate a specific aroma or taste with the values that their brand tries to project.
Feel- it is one of the most important part of the product because at the end it holds the maximum significance that how a product feels, the level of comfort the final consumer have when they eventually use the product. As the right use and feel of the product can set the standard of a particular brand and makes it unique among the competitors.
Contributing to the history of branding, the process was remarkably used in 1200 BC by goldsmiths and silversmiths to build their brand image through recognition seals. Later the process of branding was followed in late 1900’s and early 21st century to build strong products like AMWAY, Coca-Cola and AMUL.
Success of the brand depends only if the consumer can deliver benefit out of it. Building such brand equity influence substantial competitive barrier, differentiate product by strengthening brand image, attract consumer trust and loyalty. He concluded that positive experience with the brand motivates them to buy the product/service with higher priority as compared to other available brands. Branding also helps in setting the price of the product where loyal customers are willing to pay higher price.
His lecture titled “Brand Baaja Baarat” gave newer perspective and wider horizons to understand the dimensions of branding and brand management.
Harsh Saini and Rohit Jain
MBA First Year, 2012-14.