How to Develop Branding Plan in Indian Scenario

Businesses introduce new products or enter new markets to push growth but not all moves lead to success. There are a number of instances when companies failed to understand new markets or did not design products which could be accepted in market.

Companies need a sound go-to-market strategy to introduce new products or take existing products to new markets. The reason is not only increasing cost of bringing new products to markets but also the role of customer perceptions formed during initial period after product launch. Not making it right first time has stark implications.While understanding customers is important to create an attractive value proposition, go-to-market strategy has to also account for competitors’ response to new launch. 

Brands have become part of our life in almost all product categories. The role of brands is not limited to products and services, it now extends to people, places, countries, charities and governments.When all suppliers in the market can deliver the same functional benefits customers require, it becomes desirable to go beyond rational aspects of selling and connect with the customers at an emotional level.

But what exactly is a brand? Those who think of assets only in terms of plant , machinery and buildings have a tough time answering the question. No wonder they equate brand with a logo. People who go beyond logo may believe that high pitch advertising or ‘splash of colours’ is branding. While all these are elements of branding, they do not make a brand. A brand is a sum total of associations developed over time in a customer’s mind. More positive and relevant associations lead to greater brand equity. 

Inno Garage is a management consultancy with special focus on India.We believe that brands are strategic assets of a company; they should be treated that way. Research shows that value of brand assets may be as high as 70% of total asset base for luxury goods companies. Our Brand Consulting Services includes: 
  • Brand strategy
  • Positioning and Personality
  • Brand architecture
  • Portfolio management