Lets drill down some practical marketing steps........
This is a greatest dilemma that drives companies and management, more specifically the marketing bodies to vacillate most of the times, especially when someone wants to market a product in a global market.
“World’s Local Bank” isn’t it sounds great? Especially to Honkong Shanghai peopleJ Kidding!!! Yep it may be!! But how do we cater markets of diverse taste and choices.
I would like to cite an example, Huawei, a networking giant, does have pretty large scale operation in India. But what is its brand value to the local customers, and the people hailing from India. It is far lesser than Lucent (currently Alcatel) or Cisco.
There are so many Chinese farms operating globally and also has huge stand in India. But how many of us are aware of those conglomerates? Recently the Chinese delegates visiting India has expressed their concern regarding the mentality of the Indian customers towards Chinese products, which they considered as cheap and low quality good.
Some Brand factories use the local names to reach different customer base, like Unilever has done in different countries, e.g. Liver Brothers in Bangladesh and HLL in India.
Yes; it works!
But what’s wrong with Citi, one of the most successful American banks in Asian Sub-continent? Nothing really they are also doing as good as HSBC is doing.
I am sure by this point readers are quite confused; I really wouldn’t like to express my stand over here.
But definitely I would like to express some of my investigations.
Marketing or building a brand is an art rather than a typical business process.
Let’s start a Hotel or fast food center in New York. It’s a typical sunny winter and we two US citizens, plan to freak out and have some nice food. What would be our typical choice …. Chinese…….. Indian …….. Vietnamese …..
We choose a hotel called Punjabi …. And don’t know what it is and we surely will go for a dish which does not sounds like typical US foodies.
That means if I start a hotel in Bangalore with a name “Tickfustu” – “ Taste from Tickfustu a land of dead” , will surely attract more customer than the a typical Bangalore Hotel.
But same strategy may not work if we try to brand a car, with same features like Audi a4, with an unknown name.
That’s the essence of Branding, it can not be summarized, and neither can be predicted with mere confidence. But surely this has to be done with passion and also by knowing the customer and brands closely.
I don’t want to add much on this topic…. Let’s continue sharing our views….
4 comments:
Yep, I do agree with you, but simeltaneously I would also like to add that, "The success story lies behind several factors. One of them is definitely branding."
Keeping in mind that the product or the service is a class, it can be generalized; Offcourse keeping in mind that exceptions do occur everwhere, that Branding depends on the mentality, acceptance attitude and the culture of the customers whom you want to serve or sell your product.
Again I would add one more point to my first quote: "The success story lies behind several factors. One of them is definitely branding, which can't be kept isolated from Marketing."
If you term a"Brand", I refer a "brandname" keeping in mind the acceptance attitude etc. of the customer, but gradually lagging in proper marketing via media, posters, internet, one-to-one interaction, etc, then obviously your Great "Brandname" too won't find that much popularity as it was supposed to!!!
One thing more I would like to add that, At last it all comes on to customer service:- How much you are capable of retaining your customers? How much you have improved within the timespan? How you deal with your veteran as well as new customers? And obviously how you make relationships with your customers and clients? What satisfaction level you reached and what satisfaction level you owe to your customers?
What do you think?
Nirel
nice comment from mr JOY,
Thanx to Nirel...
Yes But I think we are forgetting some valuable points.
The imp keys are ...
1) non obviousness of any factor of a product released by a novice company.
2) obviousness of a product launched by veteran.
I would like to explain those two points in brief.
Point 2 first.
McKinsey launches a product range of television!!! wow is nt it a surprise? Insted of that if the release a software or a monthly on equity it will be more widely accepted by Customers. (Atleast for those who knows this company's line of operation). For rest of the Customers basic rule applies.
Lets discuss the point 1.
Company X launches a range of soaps and toiletries, what will a customer expect from X?
It is very hard to bypass the companies like ULL and Palmolive etc and get a pie of their share. SO the key for coming to the lime light may be a product , more precisely a soap which will give sizling sensation while taking bath :)
Refering to Shyam's second point:
What if McKinsey launches a product range of television, with an attractive brandname (not mandatory), with good marketing, value added facilities and new features with sleek look that too with a comparable price slot??? (what you referred in your last pointWon't it work in the Market??? I mean, if it had been as per what Shayam is refering, then conglomerated wold never bloomed!!!
Refering to Shyam's first point:
If it would have been so then I don't think thr would have been any space for newcommers!!! Definitely it requires a stratagical initiatiave.. After all big names also started from ground level.
Nirel
Extremly sorry for the spelling mistakes that I did in my prvious comment :) I hope its understandable :)
Nirel
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