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Branding in the New Era
by Nitin Parab

Branding in the New Era

The world is undergoing a transformation, unprecedented change, the very art and form of doing business is undergoing an evolution which is forcing us to address issues and challenges underneath a new light.

"The Art of Marketing is largely brand building. If not, a brand will be viewed as a commodity." Philip Kotler.

Branding both at the personal level of the entrepreneur and at the level of the enterprise is taking a new dimension and defying all previous theories. Few of us give enough consideration to the amount of detailed thought that needs to go into building a convincing brand. Today the brand is a way of communication whenever dialogue is established between the organization and the consumer which can last over a lifetime. The challenge will always be to sustain and make relevance of the brand conversation to render a dialogue so engaging it renders the brand unforgettable. This is to say the brand makes us experience a situation thereby creating a good feel factor.

In the new age one needs to turn the very business into a brand experience. Understanding how people think is crucial for it is one of the vital keys to knowing how to brand a business. Human psychology is a rare ingredient in marketing in today’s time. It needs to be addressed in its totality to create new frontiers in the world of marketing. Today we are experiencing the 5th wave in business which is transiting into the sixth wave namely e commerce. In a heavily information driven world which keeps on pouring conflicted opinions given from our so-called distinguished experts. It is the personal experience one has with the brand that matters at the very end.

The internet is heading to somewhere 80 billion pages and newspapers have the choice of 3000 magazine titles to choose from. In our fast paced hectic, stress filled lives it becomes difficult to form a logical decision about

anything. The confusion builds up as we are bombarded with all types of theories.

Whatever may be the situation the brand stands out and the weak cling to what it communicates to make our decisions. Thus, the brand has come centre stage. This constant play with our senses, repeated, replicated, duplicated, determined to carve a niche find a place, open a filing cabinet and create a spot however tiny it maybe in the part of the human neural network which we come to know as long term memory. The brand resides in the mind and not in the factory or showroom.

In today's digital society it is the brand, the whole brand and nothing but the brand. If one has to survive in the new era of business one needs to get over with the bland insipid way of presentations to the new dynamic energy filled expression that the brand communicates.

Benefits of Branding
  1. Distinguish from only price of commodity, heightens awareness of product and service, establishes loyal and long-term customer base, and helps to fetch a premium pricing.
  2. Helps to create a dedicated workforce who come to work for they understand the brand, believe in it and feel a part of it.
  3. When the brand achieves status and stature it becomes part of the intellectual property which gets reflected on your balance sheet.
  4. Brand valuation becomes the game and perceived values supersedes the imagination
Finally, in the world of Business it is only the BRAND that acts as a differentiator and will create the magic in your Business. Thus, nurture it and let it leave behind a legacy.