Another nice read. Authors Chris Zook and Nikhil Ojha say the ground will continue to move under our feet. But continuous improvement is the best way to survive — and thrive — in times of rapid change
Which is that aspect of branding that most underplayed or ignored as corporations continue to chase the bottom line?
To me it is probably the product. It is one of the most important things. When it comes to branding, people sometimes get so caught up in the name, the logo, the advertising, that the image that the product, which is so central, has to take a backseat. You have to give a good product and make sure the design falls into place as well. Sometimes marketers ignore that a little bit more than I like.
The other most ignored aspect is that of channels — things like distribution, retailing, where you sell. In India, it is changing rapidly. Till now, it was very fragmented. Yes, there has been some consolidation but we will see what happens going forward. It is important to get your product out there in the right way, to the right people.
In general, if there is one area that gets overplayed, it is communication. Everyone’s enamoured by advertising, digital and social media. In the process, they tend to ignore the hugely important aspects of channels, products, and even pricing.
Look, we, as marketers (especially services marketers) get into this vortex of ‘brand, brand, promote, promote’ that we tend to forget or ignore some basic tenet.
- Why should you do it?
- How will the promotion help?
- How could it harm?
- Do we have the delivery capabilities (or a concrete promise and roadmap for delivery capabilities) to back the promotion?
- What does the client want?
- Does your promotion map to the want?
Please ask yourself these few questions before you start any marketing campaign. And offshoots of these questions, which you should figure out as relevant for you ….