Influence: Important Factors In Building Brand Value

1.12. IMPORTANT FACTORS IN BUILDING BRAND VALUE

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

1.12.1. Quality

Quality is a vital ingredient of a good brand. Remember the “core benefits” – the things consumers expect. These must be delivered well, consistently. The branded washing machine that leaks, or the training shoe that often falls apart when wet will never develop brand equity. Research confirms that, statistically, higher quality brands achieve a higher market share and higher profitability that their inferior competitors.

1.12.2. Positioning

Positioning is about the position a brand occupies in a market in the minds of consumers. Strong brands have a clear, often unique position in the target

Long-term perspective

This leads onto another important factor in brand-building: the need to invest in the brand over the long-term. Building customer awareness, communicating the brand’s message and creating customer loyalty takes time. This means that management must “invest” in a brand, perhaps at the expense of short-term profitability.

1.12.7. Internal marketing

Finally, management should ensure that the brand is marketed “internally” as well as externally. By this we mean that the whole business should understand the brand values and positioning. This is particularly important in service businesses where a critical part of the brand value is the type and quality of service that a customer receives. Think of the brands that you value in the restaurant, hotel and retail sectors. It is likely that your favourite brands invest heavily in staff training so that the face-to-face contact that you have with the brand helps secure your

Marico 's own manufacturing facilities are located at Goa, Kanjikode, Jalgaon, Pondicherry, Dehradun, Baddi, Paonta Sahib and Daman. The organization holds a number of brands including Parachute (brand), Saffola, Hair&Care, Nihar, Mediker, Revive, Manjal, Kaya Skin Clinic, Aromatic, Fiancee, HairCode, Xmen, Hercules, Caivil, Code 78 and Black Chic. Parachute is the flagship brand of Marico and consists of a line of edible coconut-oil based hair products. Marico’s brands and their extensions occupy leadership positions with significant market shares in a number of health and beauty areas.

Saffola is essentially blended refined edible oil which is claimed to be beneficial for Heart health. It is marketed under the names of New Saffola, Tasty and Active. All of them contain blended vegetable oils in various proportion. The main type of oils which are blended include Rice Bran oil, Kardi oil or Safflower oil, Corn oil and Soya oil.

In addition to being a producer of consumer products the organisation also