Brand management is of key
importance in today's stiff
competitive corporate world. In today's borderless business
world, wherein innumerable new products are being introduced into the
market, which are quite similar to each other, management of brands
becomes very important for survival. A big, powerful brand is the best
protection that all companies can think of for defending their market
share and also to protect the interest of their franchisees.
Brand building is an important function in any organization.
A strong brand can bring back customers repeatedly, thus, creating a
loyal base. Organizations spend a huge amount of money and make
all-out efforts towards branding their product and service brands.
Organizations use innovative promotional campaigns with popular
superstars and top ranking sportspersons as brand ambassadors to build
brand image. And while these activities create a positive brand image, they
require huge expenditures.
But, in recent times, many organizations have realized that
internal brand building is also equally important as external branding, and
that employees too can play significant role in brand building. A
prominent example is that of Country Club India Ltd., whose founding Chairman
& Managing Director, Rajeev Reddy, acts as brand ambassador for
his company (See Exhibit). As brand ambassador, he has built
considerable credibility among customers. In a similar way, faculty and students
can be the brand ambassadors for an educational establishment.
Competent faculty always add value to an educational institute and attract good
students. The students, in turn, act as brand ambassadors through their
performance in their careers. |