What is the name of the original shop that started selling peda in Barmajiya? If you are clueless, you are not the only one. ‘Barmajiya ko peda’ is very famous. More than 4 dozen shops are competing in one place. Each claiming to be original. They are using words like ‘Asli’, ‘Purano’ ‘Budha’ and ‘Vaidyanath’. But is there any particular shop that comes to your mind? If you ever visit that area which shop, would you like to buy the peda from? These examples are enough for you to understand the significance of Brand and Branding.
What is Brand?
American Marketing Association defines brand as “name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition”.
In simple words, you put a mark on your product to make sure that people recognize it.
Origin
The word brand has been derived from the Old Norse word “brandr”, which means “to burn”. In order to identify livestock, owners burn the skin of animals with special symbols.
What is branding?
Branding not just putting the name on your products. Branding is the process through which we put value in that name. Often called as brand equity. Value may come across as preference, Premium pricing, or WOM.
Why Branding?
To go for branding or not is not always an obvious question. There are customers who are not brand sensitive and products with name but no brand equity are banal in the market. But if you as a brand are being preferred and you have not yet created an identity for yourself, you will soon be lost in the clutter.
The story of Barmajiya ko peda is a reminder of the importance of branding for businesses. If a business does not take steps to protect its brand identity, it is at risk of being lost in the crowd.
‘Indra Chowk ko Lassi’ represents a very similar scenario. Initially there was only one. We have started to see more lassi outlets mushrooming in Indra Chowk area. Soon an outlet will name itself Indra Chowk ko original lassi and many more me-too lassi brands crowd that area. And the original will become just another Indra Chowk ko lassi.
Can you think of other such examples?
What do you think brands should do to protect their identity?
#marketing #brand #branding #advertising #marketingconsultant #marketingtips #brandidentity #brandawareness #mentalavailability
0 Comments