Getting a consumer durable brand in the market meant significant investments in distribution, on-ground displays, marketing and everything else that was traditionally associated with the launch of a consumer durable brand.
I.e. creating a consumer product brand required large capital, and therefore was not something that new and emerging entrepreneurs without access to capital could aspire to do.
Xiaomi just debunked that theory with a model execution of a creative & unconventional strategy.
Without opening a single store, without keeping the products on shelves in physical stores, without spending on advertising, this China-headquartered company has already become the world’s 3rd largest handset manufacturer in just under 3 years time since launch.
Continue reading “Guest Post – Building a Consumer Product Brand with Virtual Infrastructure: Going the Xiaomi Way”
What is a brand?
A brand is a set of values that are associated with a company or product or service. E.g. dependable, reliable, fast, elegant, expensive, high-value, etc.
In effect, a brand is the sum total of the perceptions about your product or service or company that different people have. These perceptions are a result of the brand’s look & feel and communication, including PR, as well as the customer’s experience with the product and the service. All of these have to work in sync for a brand to establish positive equity with all stakeholders.
What is brand management?
Simply put, brand management is about managing the perceptions about the brand that different stakeholders have.
Continue reading “A brand is a critical asset of any company, and so too for startups.”
A logo is one of the most visible faces of your brand. In other words, the logo is most likely to be your most frequent and most visible brand representative. Hence, a logo should clearly state the following:
How well the logo is designed and how well the messaging is in the tag line will create the first impressions about the brand’s personality.
Right from the time you exchange business cards, or when you release an ad – in print, TV or online, or when someone visits your site, it is often the name of the company, represented by the logo + tag line that will be noticed for the first time.
For startups, it is critical that the logo and the tag line be designed well. This is because when you are new, most people would not know what you do and who you are. Hence, when they interact with your brand for the first time, it is usually the logo unit that will set the first impressions about what you do.
While a badly designed logo may not necessarily send the wrong impression, a well-designed logo will most certainly create a favorable impression.
Similarly, with tag lines. Tag lines should be used to communicate clearly what you do. E.g. “Online fashion store”.
Often entrepreneurs make the mistake of using a tag line which is nothing but a smart set of words with no reference to what you do. This is of little use in brand management. E.g. for a healthcare brand, if the tagline said ‘We care for you”, it really means nothing to anyone and does not establish what the brand does. Instead, if the tagline were to be specific saying “Your neighborhood childcare clinic’, there is specificity in communicating what the promise is.
It will be ideal if your tag line can also communicate your value proposition. E.g. “Affordable cardiac care.”
How important is the role of PR and Marketing in acquiring customers? Tune in as Prajakt Raut discusses how you can plan your PR and Marketing roadmap.