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The business of brands

Innovative ideas and smart observations emerged as young minds from business schools got together at PSGIM

PHOTO: K. ANANTHAN

COMMUNICATING VALUES The team from Amrita.

When the makers of Dettol wanted to market their new range of toiletries in the `beauty soap' category, consumers simply refused to accept it.

For them, Dettol is always a germ killer.

That explains the `P' in branding strategy — perception. "There is sometimes a difference in perception between the makers of the brand and takers," said Nisha P Lakshmi, from Amrita School of Business as she made a presentation on strategies for building sustainable Indian brands at the All India Management Association (AIMA) contest conducted at PSG college of Management (PSGIM).

Studying brands

AIMA organises the event every year to identify young talents from Indian Business Schools. Her team-mate S. Vidhyashankar spoke of the `P' factor in the McDonald's chain.

"When the brand fell short of customer satisfaction — its core value — business went down", he said. In India, Onida had to revert to its trademark devil mascot when other branding strategies failed. In corporate branding, creating a living brand is important. "Invest in employees, empower them and they will lend life to the brand. The success story of the First Direct Bank, recognised as best recruiters, is an example," Jayshankar said and added, "communicating the products and services through a proper channel would lead to consumers becoming brand ambassadors like in the case of Harley-Davidson bikes".

Selecting partners with similar core values is also important to maintain the corporate image. "Ratan Tata foresaw this trend of positioning the brand as a citizen, commanding respect", said the students from Amrita.

When the jury wanted them to elaborate on the role of celebrities in sustaining a brand, they said that it was important to get the consumer to talk about the strengths and credibility of the brand. How would they showcase their college as a citizen? "Focus on getting individuals to stick to timeless values and not just be future managers." This answer won them the southern region round.

From 48 papers received from management schools such as ISB, Hyderabad, Green Lakes Institute, ICFAI, Amrita and PSG, 12 were short-listed for the southern region round. Three teams from here will take part in the finals in New Delhi.

All it takes is a unique DNA, said B. Srinivasan and R.Vijayraj from Suverna International Institute of Management Studies, Ooty. " D for distinctiveness (eg. Basmati), N for novelty (eg. Apple I-pod) and A is attributes," they elaborate.

All about trust

C.V. Ramachandran and S. Srivathsan from Great Lakes Institute of Management brandished a Rs. 500 note and said, "It is your trust in the Government that makes you believe that it is a Rs. 500 note. Building a sustainable brand is all about such trust." The students also spoke of the new Indian consumer — the `hybrid' whose roots are Indian but mindset global.

"As the social setting changes, give them new experiences. Like the Johnson's range of baby products which diversified and brought into its fold mother care products," they explained.

When the panel asked them to explain brand success and corporate failure, they said, "Great brands just happen", to which one of the jury quipped, "In that case, your job opportunities are bleak."

Why do brands fade out? "Lack of romance between the consumer and the brand," said Manan Sharma and Geetha R. from Great Lakes. And the solution? "Spice up the relationship." This team also gave the vintage Lambretta scooter a retro look.

"One common thread that ran through all the presentations was excellence", said N. Krishna Kumar of Akarsh Advertising, one of the jury. "Picking popular success stories from books should be avoided. The teams with new ideas emerged winners," he said. Another jury member, Locus Communications' Mervyn Jussy's remark that "it was an emotional, rational and passionate presentation," summed up the experience.

K. JESHI

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