Continuous innovation

Restage

New product to current category

New product to company category

New product to world category

Stand out examples like the one of TATA Safari and Splendor were shown to emphasize on the various theoretical aspects. TATA Safari which earlier used to have a sales base of around 3000 cars per year after repositioning in terms of an advertisement, catapulted to 7000 car-orders per day. In the same way Splendor sold more when it came out in Red colour.

Mr. Puri also threw light on the pyramidical structure on which Brand Equity is built which are -

Bonding

Preference

Advantage

Relevance

Prominence

Before ending the discussion session, Mr. Puri looked at the finer aspects of packaging and how relevant it is in the growth of a brand, and it was made clear that the "customers would not pay a premium for any product, unless it looked premium on the shelf!" So you might go for a Nirma even if it looks mud-stained on the shelf but you would never go for a Surf Excel if it had the same appearance... So it's the perception of the customers about the brand and the need it satisfies, and if the brand meets the needs and satisfies the customers, it is bound to go up the ladder of success.

The students at Sydenham Institute of Management were enlightened on the topic and were impressed by the way Mr, Aseem Puri discussed the topic, which was not only thorough but also entertaining.

Concluded.

Click here to post your views/ comments/ experience on this...

Contributed by -
Rahine Bose,
MBA - Final Year,
Media Committee,
Sydenham Institute of Management, Mumbai.