New Delhi, July 24: In a marketplace of choices, how can a brand make a place for itself in the consumer's mind and ensure that she keeps coming back? By putting into practice the 4 new Ps of marketing, says Ramesh Juda Thomas, CEO, Equitor Consulting, a leading Bangalore-based brand consultancy. These are: Promise, Processes, People (HR) and Property (the brand, that needs to be invested in, just like an asset).The Promise should be unambiguous, distinct and based on a brand's strengths, from which would flow the relevant processes to deliver the promise. Similarly, the processes should be easy, understandable and well-defined.
Another tip: The first customer should be your employee, the other three being the distributor, retailer and the end customer. Good companies realise the importance of carrying all the four customer segments with them. Says Thomas,``A brand is dead if there is an iota of dissonance between these customer segments.'' HR, therefore, needs a relook, with a clear focus on orientation, selection, training and a constant upgradation of skills.
Finally, the last P: building the brand property. To make a brand tick, companies need to look far beyond the traditional approach of using only heavy advertising. With the increase in brands and choices, mere advertising cannot do the trick any longer. Communication can be used only to communicate the promise, the rest is taken over by behaviour and processes.Thomas' caution: The point of purchase is the moment of truth, which with inadequate focus, can undo even the strongest and most expensive of advertising. Thus, if a Rs 3,000-crore company, for example, keeps the retailer out of the loop, the chances are that this segment will `unsell' the product-no matter how heavily advertised it may be.
Thus, the relationship with the retailers should be the same as with the end customer as they are the real ambassadors of the brand.
McDonald's is a classic example of a global brand that has survived on the basis of well-defined processes and trained manpower, and minimal use of advertising, says Thomas. A $33 billion brand, with 27,000 outlets (none of which it owns) across 83 countries, it has limited advertising only to communicate the promise. The rest is done by well-defined processes and behaviour.
Colorplus is another excellent example of a strong homegrown brand which can take on the best of the MNCs. Despite being an upmarket brand, it sells well nevertheless. ``That is because it communicates successfully not a lifestyle, but the product. The staff is trained to have all the information on the product, the fibre, weft and weave. So it strengthens the company's standing and makes the buyer an empowered buyer instead of a casual buyer.''
Equitor Consulting is headquartered in Bangalore and has a wide range of clients like BPL Appliances, 3M, TTK, Prestige, IBM Education, Kirloskar and Pepsico. Last year it did business worth Rs 100 lakh, and is targeting Rs 175 lakh this year. With the belief that a corporation's long-term competitive advantage is the value of its brand, Equitor Consulting, addresses the needs of clients faced with brand-related problems. It works mainly in three areas: brand audit, brand strategy and brand valuation.Thomas has 17 years of experience in areas of consumer behaviour, strategic planning and brand development. He has worked in the domain of FMCG, durables, service industry retailing and dotcoms.
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