Various Forms of Shareholders Ownership
The previous articles discussed how shareholders play an important role in promoting good corporate governance. This article looks at the patterns of shareholder ownership that are prevalent in organizations in the corporate world. To start with, any company whether it is private or public limited needs to have shareholders who contribute equity to the setting […]
Retail Merchandising
Merchandising Retail Merchandising refers to the various activities which contribute to the sale of products to the consumers for their end use. Every retail store has its own line of merchandise to offer to the customers. The display of the merchandise plays an important role in attracting the customers into the store and prompting them […]
Gathering Information and Measuring Market Demand
In this dynamic market with the free flow of information and innovative marketing programs, needs and wants of consumers are always changing. As per capita income increases consumers are willing to explore more alternatives for purchase decision. Companies should be aware of changing situation all the time to take the right decision. This calls for […]
Driving Value Proposition through Operations Excellence
Leadership at the market place doesn’t come by easily. Organizations have got to work towards it by innovating their product and value proposition all the time. Establishing customer relationship with a long term perspective becomes imperative. Today the customers are highly knowledgeable and demanding. The rules of the game have changed along with the change […]
What is Influencer Marketing and Why it is so Important for Marketers in the Digital Age
As Social Media Grows in Importance, Marketers are Turning to Influencer Marketing We live in times when social media is all pervasive and all important not only for individuals, but also for business entities. Indeed, no business can afford not to have a presence on social media which translates into mandatorily having a Facebook and […]
Are brands built or do they just happen over a period of time?. Well, this is a difficult question to deal with for, both are true.
One of the essential characteristics of successful brands being the fact that they withstand the test of time, we should agree that in many cases the brands actually become successful due to the customers and the achieve a cult status over a period of time.
Look around some of the most famous brands that have not only created a cult and global fan following, but have become closely associated with the lifestyle and social culture of individuals and society.
Brands like Marlboro, Harley Davidson, Apple, Mont Blanc etc have become a part of the psyche and culture of communities across the world. Most often you will find that the individual pegs his success by owning a Harley Davidson or a Merc. Only when he has purchased and possessed one of these brands does he consider that he has made it in life or has arrived.
Ask the owners of these brands whether they had thought of building the successful brand at the beginning of their success story and in all probabilities, they would never have expected to do so. In the natural course off business, these Organizations have rolled out products to further their business.
In order to build loyalty and deliver increased value to the customers, they would have invested in enhancing the value proposition continually and focused on promoting the brand.
Over a period of time, the promotional activities and the product would have matched with the aspirations and expectations of the customers leading to intense loyalty on the part of the consumers with the particular brand. Thus the brand acquires the power and status. We must at this point of time recognize that the empowerment of the brand has happened from the customer’s end.
Realizing the phenomenon of increased brand power, the Organizations would have engaged in building the brand and advertising to increase its reach and acceptance. Slowly with more and more customers enlisting their loyalty to the brand, it becomes a cult.
When a brand commands huge popularity and becomes a cult, you will note that the organization has been involved in sustaining and growing the brand. They invest into the brand interms of its utility, features, quality and promise as well as build some of the implied values or soft values that appeal to the customers and makes the brand endearing.
Harley Davidson promises a certain kind of adventure, freedom and spirit, thus appealing to that adventurous streak in men who begin to identify with it and thus form communities and groups to celebrate the brand.
Take the case of Mac, you will find techies being die hard apple fans across the world. The product is distinctly different from the rest of the computers in the form of its operating systems and capabilities.
Customers are hooked to Macs not only for the ease of use, but for the technical capabilities, superior performance and unmatched quality. The brand comes with a guarantee and no Mac user ever thinks of comparing Mac with others or even contemplates doubting the capabilities of a Mac. You can see in this case, that the brand is backed by the superior product quality and performance as well as contains an unsaid promise from the brand owners.
Your email address will not be published. Required fields are marked *
