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"A
boy wakes up to the alarm set on his Titan watch. He quickly
wears an outfit which he purchased from Westside; sprinkles
TATA Salt on his breakfast meal, he then sips some TATA tea.
Later he uses his TATA phone to talk to people, wears TATA
foot wear, drives a TATA car the story continues till he switches
off TATA BP Solar light to retire for the day".
This
is a classic way of illustrating the depth to which a brand
can penetrate into its customer's life.
According
to Hulbert, Capon and Piercy, marketing has been emerging
as the most crucial functional area of a business, and requires
constant innovations. Among all marketing activities performed
in an organization, branding has emerged as one of the important
decision areas. Innovative techniques and practices have emerged
in the design and application of newer and improved branding
strategies. In an attempt to bring out innovation in the pursuance
of brand building, the managers are in search of more effective
branding strategies. "Brand indispensability" is
one of the effective strategies which marketers are aiming
to pursue.
The
American Marketing Association defines branding as the process
by which a company or a product acquires meaning over a period
of time. Branding is the process of making sure that perceptions
of the customers about the company are shaped by a name, logo,
color, form, symbol, design, or any a tangible way rather
than by default. If one thinks of "branding" as
a strategy that's relevant only for big businesses, one needs
to rethink. Any company, regardless of its size, must take
an active role in shaping the perceptions of its customers,
and prospects of its products. |
