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.”