Brand Building Brand Essay

tapping the full benefit of what liberalisation did to the modern Indian fascination with technology.

The IT companies, without having to spend heavily on brand building, were ideally placed to take advantage of this change. The provision of low-cost services to a global market provided them with opportunities that lead to their rapid growth. The growth of these IT companies translated into higher share prices which in turn strengthened the brand. When employees were given the stock option, that attractiveness of the brand grew further. Normal advertisements for jobs in these companies then became advertisements for the brand. Further, once the IT industry caught the imagination of the ordinary people the politicians also stepped in to help

There are other industries like the garments, gems and jewellery which have also scripted success stories in the global market by taking the low-cost advantage. However they have not received the public acclaim that would allow them to build their brands inexpensively. Most Indian companies, but for a few exceptions, have to spend heavily if they wanted to develop their brands. Such substantial expenditure, as a result, could hurt the company’s prospects of competing on price. Indeed, even IT companies could find that their brand building costs are rising as the more from relatively low-cost services to

IMPORTANT FACTORS IN BUILDING BRAND VALUE

Professor David Jobbar identified mainly seven factors in building successful brands.

1.12.1 Quality

Quality is an important variable of a good brand. The “core benefits”-the things that the consumers expect, must be delivered well and consistently. The branded washing machine that leaks or the training shoes that often fall apart when wet will never develop a brand equity. It has been confirmed through research that help quality brands achieve a higher market share and higher profitability when compared to their inferior competitors.

1.12 .2 Positioning

The position that a brand occupies in the minds of consumers in a market is called positioning. Strong brands often have a clear and a unique position in the target market. Brand name, service, image, standards, product guarantees, packaging and the way in which it is delivered to the customer are some of the means by which positioning can be achieved. Successful positioning, in fact, usually requires a combination of all these things.

1.12.3