JAGDEEP KAPOOR is a Brand Guru and CMD of the successful Samsika Marketing Consultancy
A lot of marketing people believe that it requires tremendous amount of money to build brands. They have been misled into believing that spending of money is critical to good brand building and may be the most important factor.
This is not true. In my opinion, the least important factor in building a good brand is investment of money. This does not mean that money is not required but it also does not mean that money is the most important factor. In my opinion, the investment of time, investment of effort and the investment of dhyan are far more important factors to build winning brands.
Dhyan or focus or concentration is to my mind the most important factor in building good brands. When the mind gets diverted and de-focused, the brand suffers irrespective of how much money is spent. This investment of dhyan has to be packed by adequate and sufficient time and effort so that there is successful brand building. This leads to single mindedness of purpose and hence ensures success.
The focus and dhyan should be on the customer and consumer needs. This means that on a regular and constant basis it is important to have assessment of consumers, desires, wants, aspirations and expectations. This requires a feel and touch of the market on a regular basis so that the changing needs of consumers can be understood.
Apart from dhyan, it is also important to have gyan in brand building. Knowledge, in the form of product knowledge, as well as knowledge of processes and service knowledge helps build brands. Gyan cannot be acquired instantaneously and requires persistent efforts to gain it over years.
Gyan is important so that the customers can be served well and the marketers should not be clueless.
Thus a combination of dhyan and gyan work as an extremely vital pair of ingredients to build brands successfully. Marketers must definitely use gyan and dhyan for building brands.
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Jagdeep Kapoor can be contacted at [email protected]