1. Branding
The Objective of Branding is to create distinctive identity
of Company for and its Products to create trust between users and Market Participants
like Distributors and Resellers for Right Quality, Right Price and Effective
Performance that shall translate into Premium Earning based on performance
parameters and preference for Buying due to greater visibility and Trust
Building Activities to project best business practices along with
overall welfare oriented approach of operations. This Translates into following
objectives:
1.
Industry Specific and Product Segment Specific
Brand Creation based on Functionality of Products/ Services e.g. Most
Technologically Advanced Products or Cost Effective Products etc.
2.
Use of Most Effective Branding Technique
3.
Concentrated Branding for User Specific
Profiling
4.
Social Image Building with Association to Human
Values
5.
Trust Building in Minds of Users-Customers for
Reliability, Genuineness and Care for Human Life
6.
Does Branding Reflects Core Values of Company
7.
Does Branding banks on Corporate Vision and
Mission
8.
Does it attracts People to work for Company
9.
Does Branding Reflects Corporate Social
Responsibility of Company
Important aspect needed to be considered by SME is the effectiveness of Brand into creating edge in Business Process particularly in increased turnover, AS Most SME are B2B there brand simply depends upon Reliability of Products and Services and a single failure case study can hamper Brand more a very long period of time and also becomes a personal pint point for many Directors even into unrelated activities, thus while building brand; the pool of people who are going to make decisions regarding Availment of Products and Services of Company needs to be identified very carefully and VALUE PROPOSITION for this people shall be targeted with Branding Exercise. E.g. Distributors often affect buying decision of users for sake of Margin or Moving Inventory thus company who’s Goods fall under Consumable or Intermediate Assembly category has to focus on Solution Building Aspects of Brand than personalized statement like Kirloskar Pumps Tag Line Invisible but omnipresent (Copying GOD himself) But if a Company supplies goods/ services that are the routine part of further production process then it is more cost effective to develop personalized branding effort towards identified business decision makers with use of Personalized Branding Merchandise with integrated CRM use and constant follow up of with definitive protocol of product presentation and feedback recording.