Strategising a Brand – Strategy Consultants in India
Brand Building Strategy / February 20, 2016

Theoretically, brand strategy is a long-term plan for the development of a successful brand to be able to achieve specific goals. On paper, and in the market place, it is a lot more than that. A ‘brand’ then, goes beyond simply the logo, the name, product or website. It isn’t wrong to say that a ‘brand’ is mostly the intangible x-factor that separates the mediocre from the extraordinary brands. It is akin to cooking a meal versus putting together a gourmet gastronomic experience. Just as we collect the ingredients before we set out to cook, a brand building strategy also involves certain ingredients. These are: Purpose: Why do you want to talk to your audience? Why should they buy your product as opposed to a competitor’s? In the interest of long-lasting profitability, it is important to create an inspiring statement of mission and vision. Customers admire brands that want to go beyond making money, because it is reflective of the long-term relationship a brand wants to build that goes beyond the point of sale. This sets your brand apart from competitive brands. Target Audience Just collecting demographic information about a market won’t help you develop a brand building strategy. Visualise the unique individual…

Market Research, Insurance for New Product Developments

A product is an amalgamation of many features just like our own human body; the heart , the brain, nervous system and many other components that constitute the human body. While most may argue that the heart is the most important component of the human body, some may even say brain. Well… try asking that question to a daily wage laborer, he will probably say hands; without this fundamental part he’s dead. Can’t earn, can’t eat and can’t support his family. Other organs become supporting. Similarly different products mean different to different people. For a particular class of people attributes that may be fundamental to one; most basic may serve as delight factors; add ons for others. For a perfect new product development plan it becomes imperative for managers to marry the respective class of people to their respective class of attributes. HOW DO WE DO THIS? By getting closer to the consumer. At Coral we have helped companies marry target audiences with their perfectly attributed product or vice versa. A travel portal desired to launch a new Hindi app for ease of booking for many Indian consumers. This was at a time when aviation industry was experiencing a boon…

Why Research is Essential in a Brand Building Strategy

Research is an essential tool in brand building strategy. It is an indispensable source of data that helps us plan, evaluate and improve our approach. Brand development has emerged as an essential part of marketing.Given the immense competition and constant bombardment of information, your brand must carve out its own niche in the market. Fortunately, research has made this much easier. Market research is today an inseparable part of any brand building strategy. Research provides one with the data that is so essential when developing a plan. So what are some of the major benefits of researching before you begin: Find your standing: Before you start, it is essential to know where you stand in the market. Remember, a brand is not just a name. Brand position relates to how the consumer sees you, the general perception of your trustworthiness, reliability and image. For instance, are you known as the reliable name that lasted the race or the exciting name that comes up with innovative products. Once you know how your brand is perceived, you can move on to other issues –– do you exploit this position further or do you go for a course change. Finding the right market:…