A word called ‘Brand’

Whenever I try to associate myself with my last employer, I always relate to the colour of my company’s logo. A grayish green clearly defined on CMYK scale. It reminds me of a sense of how and what that Company used to do and look like and sale and grow in business.

An earlier Company I worked with used to have a deep violet colour for its logo. Now when I recall the Company, I remember the sweet whirring and whizzing of hi-tech CNCs continuously manufacturing metal components which were integral to that Company’s product.

That was my first association with the brand the Company had created, well, that and all the other infinite number of associations that any Company continuously creates to build the brand!

Brand is one of the most commonly used words in businesses and markets. However not everyone can understand and build a successful brand. A brand defines everything an enterprise, a product or a service stands for in the market it is catering.

It may be a term, a sign, a symbol. It may be an experience, an association or a story. It is how you as an enterprise differentiate yourself with your competitors.

People are driven by the value any product or service is capable of creating. Is your product worthy of offering that value, that experience to the customers? Even if the value is created, is it possible to communicate that association and penetrate through the customer segment of that product?

You have to continuously think of how to communicate and inform that value to your prospective customers. It may of course be told by sharing the experience, but a business should not be satisfied with mere few words of mouth.

Large enterprises have enormous budgets to keep their brand equity steady, steer their products through the thick and thin of fierce competition. A small or medium enterprise however may or may not think of building its own brand. But, why not?

With globalized forces of competition at work, incredibly conducive technological environment and virtually the world being your prospective customer, it is an exciting time to build the steady and solid SME brands through extensive marketing efforts and strategies.

A growing user base of internet has created a solid opportunity to anyone who wants to be at the top of their business game.

Building a brand may be a slow and elaborative process for any enterprise. The SMEs and MSMEs face many challenges of product, pricing and distribution along with unorganized competition.

A long term relationship is defined by the value your brand creates in the minds of your customers.

Thinking of SME, I am always surprised by a recent value created by the brand of Shree Datta snacks. Shree Datta snacks have close to or more than a decade old association with its customers on Mumbai-Pune express highway.

It has shown great promise with its simple but effective food menu, excellent taste which reminds you of a home outside home and quick service at rush hours too.

Some may differ with this kind of experience, and have come across a different and likely unpleasant experience. That may be a representative case and does not affect the overall experience created by this small outfit in the middle of an always busy express way. Though it has a limited customer base restricted to the expressway commuters, it has a definite standing in that market.

The competition there is no less intimidating. Local as well as international brands such as Macdonald’s and Subway have been trying to steal the everyday business, but this enterprise has still remained popular throughout.

It is always bustling with loyal brand customers. Their taste palette is satisfied by one or the other products on offer by the enterprise.

Increasingly more and more such SME or MSME brand stories are likely to influence creative entrepreneurs to inspire from them and try to navigate their way through the great ocean of business.

The way ahead is not always easy. A strong product at the right places will slowly create and enhance your value in the market. Carefully formulated prices and innovative promotion will create the awareness in the minds of its customers.

It will be a long journey of creating an experience called as brand!

Abhay Arun Inamdar
Email : inamdar_aa@yahoo.co.in
Contact: +91 72080 86110