A product is what a company makes. A brand is what a consumer buys. A brand is a set of perceived values, which the customer develops for a particular product. It is not the product, but its source, its meaning and its direction which defines its identity on time and space.
In the light of the above mentioned, during the post liberalization period, the Indian brands have not done too badly. Look at Telco, Onida, Vicco, Dabur, Dey’s Medical etc. who have been able hold their own against multinational brands in their own ways. At the same time some of the MNC brands such as Ray Ban, Kellog’s, Sony had initially fallen victims either to Indian customer’s equations of value for money or fake rivals or the engrained consumers habits.
On the other hand, local brands have one common advantage – their intuitive understanding of the local markets. Some of their winning strategies are indigenous engine research and development (Telco), leveraging ethnic connections (Dabur and Vicco), capturing niches (Dey’s medical with Keo Karpin), encashing on the large-scale consumption of commodity items (Tata Tea, Tata Salt, etc.) Strategic alliances (Titan with Timex for plastic watches), consistent promotion (Amul, Frooti, Rasna etc).
To understand whether a brand will survive, you have to go to the core-beyond the great product and the core benefits, the continuous improvements per changing needs of the consumers, the continuous additions of distinctiveness through effective communication; the image of the company behind it and not least of all the people behind running the company and the brand.
Effective Branding is the continuous process of wrapping distinctiveness and add values around products and services that are highly appealing, themselves, to offer consumer’s quality, delight and feelings of faith and confidence in meeting their aspirations. Finally it is only the fittest brands that survive aren’t it? The secret lies in invigorating and rejuvenating to keep the Brands in a fit condition. More than a century old Brands like Coke, Levi’s etc. are still young and kicking. Aren’t they?
