#4 Things for Entrepreneurs to Remember While Building Their Brands
For any brand to be prosper, the golden rule is to remember that product is the king
The importance of a brand is said to lie in its product, while other aspects come later. People start trusting the brand if the products are as effective as the promises and claims. Secondly, people are now much more aware of the products available in the global market. Hence, experts feel that new age products should be of high quality, in keeping with international standards.
Visibility and commitment should be at the core of building brand
Core values for a brand should always be the essentials to build it. The purpose of the brand can already create a differentiator between your brand and others. Faber-Castell has its legacy built on being the world's oldest and largest pencil making company. The tradition of being a superior writing brand and the mindfulness of this sound know-how already gives it a high sense of credibility. Therefore, for a brand, competence is an important aspect.
Nisha Sarah Jose, Category Head at Faber-Castell India, feels a brand is built by the people making it and by those who use it. "Visibility is one of the single most exercises, and if done well leads to a good brand building. In-shop branding, merchandise planning for channel sales will automatically create a brand zone distinguishing it from others," she shares.
She also considers it essential for the brand to be committed and feel obliged towards the community that built it. Social and environmental responsibility is another essential component of brand building. A reforestation project by Faber-Castell was started about three decades ago in Brazil, making the sustainable forest absorb far more CO2 than what we emit on a global scale. "This makes us one of the only stationery brand a carbon neutral brand," she enthused.
Digital amplifies connect
Shubho Sengupta, an independent digital brand consultant, who has previously worked with organisations like Ogilvy and Coca-Cola says branding is all about engagements and connections. According to him, digital strengthens connect between brands, customers and products. "Branding other than being your product or service promoter also includes social commitment, sales process, customer services, employees and everything in between," he asserted.
The digital world has changed too much too fast
Today's scenario has changed completely as compared to 10 years ago. The digital world has changed too much too fast. However, it is now easy to strategize and execute plans. Gaurav Aggarwal, Director, Lasons India Pvt Ltd, a leading manufacturer of Vitamin B3 from India since 1979, is learning the dynamics of brand building each day.
"For any brand to be established, the golden rule is to remember that product is the king. Compromising on quality or not being able to deliver to the consumer his/her expectation from the product is not an option. You have to be confident about what you are making and selling to be able to make a brand out of it," Aggarwal shared his learning.
The market is extremely competitive and quick. Entrepreneurs need to consider every idea that crosses their mind and work on it or decide to let it go. Each day counts because your competitor is right behind you in most of the cases. Make sure you know the product and have identified the target customer very carefully. The packaging too needs to be extremely attractive and yet informative without losing the customer's attention.
Unique features often help build brand name
According to Debyani Banerjee, Founder, Club Salon, creativity, innovations and new products make businesses dynamic and help to build the brand. "Creating and catering to niche marketing may also help. Some unique features often build the brand name. For instance, we became known for an integrated system and ranges of services, as well as specialized and therapeutic treatments for specific skin and hair problems," illustrated Banerjee.