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Foreword
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Understanding
Brands
Though enough has been written about the WTC attack,
it is important to note that it was not just an act
of terrorism; it was an attack on consumer sentiment
and confidence. It was a body blow to consumer psyche.
The need of the hour is to reinvigorate and rekindle
that confidence in such a way that it leads to an
investment in the brand. This is particularly so when
most companies are on this tighten-the-belt spree
to remain afloat in the market. They must understand
that rationalising cost without taking into account
the implications of the long-term impact on the brand
and on customer satisfaction, could be foolhardy.
Perhaps one can take a lesson from the case of Formula
1 car driving. When an F1 car meets with an accident
on the track, the cars behind it slow down, except
the leader who actually accelerates. Similarly, in
times of dipping market conditions, smart companies
invest in the brand. Their strategy is simple: it
is better to move ahead with an agile strategy rather
than wait helplessly on the sidelines, hoping for
better times.
A brand is also a symbol of a kind of assurance of
quality, continuity and emotional links. When it shows
robustness in the form of investment and increased
optimism, it engenders consumer confidence. This might
take a beating on profit, but in the post-recessionary
phase, these organisations would survive competition
better.
Keeping this in mind, this issue of Strategic Marketing
deals with brand culture and confidence. We have S
K Palekar talking about Listening to the Customer
for Successful Marketing; Effectiveness of the Net
in reaching out to the Masses by Madhabi Puri Buch;
Benefit Laddering in Brand Positioning by Vidya Sen,
and Turn your Brands into Celebrities by Vinita Bangard
to name a few. We also have the invigorating discussion
that took place at the Strategic Marketing Forum held
by this magazine on Brand Culture and Brand Rituals.
I hope this issue of Strategic Marketing whets your
appetite for all that is known about brand management.
As usual, we welcome feedback and suggestions on the
subjects you want covered. After all, Strategic Marketing
has always believed that to be successful as a brand,
it must take the customer’s word as gospel truth.
Bhaskar Das
bhaskar.das@timesgroup.com
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