- Management Basics
- Management Functions
- Organizational Behaviour
- Marketing
- People Management
- Personnel Management
- Human Resource Management
- Human Resource Development
- Compensation Management
- Job Analysis & Design
- Performance Management
- Rewards Management
- Competency Based Assessment
- Employee Development
- Training & Development
- Participative Management
- Employee Relationship Management
- Career Development
- Talent Management
- Human Capital Management
- Knowing Your Employees
- Relationship Building
- Employee Behaviour
- Workplace Efficiency
- Employee Engagement
- Knowledge Management
- Employee Retention
- Social Entrepreneurship
- Youth Entrepreneurship
- Operations
- Supply Chain Management
- Inventory Management
- Enterprise Resource Planning - I
- Enterprise Resource Planning - II
- Business Process Management
- Globalization
- International Business
- Business Process Outsourcing
- Disaster Recovery Management
- Business Continuity Management
- Project Management
- Production & Operations Management
- Management Information System
- Database Management System
- Business Process Improvement
- Total Quality Management
- Six Sigma - Introduction
- Six Sigma - Define Phase
- Six Sigma - Measure Phase
- Six Sigma - Analyze Phase
- Six Sigma - Control Phase
- Six Sigma - Team
- Import & Export Management
- Finance
- Economics
Building Strong Brand Equity
Brand knowledge alone cannot be enough to build consumer based brand equity rather other attributes associate play a critical role. Marketing programs developed has to clearly highlight qualities of product in a consistent manner throughout marketing programs. Furthermore, marketing programs should highlight product related and non-product related features as to create impact in consumer mind. Marketing programs developed should not just focus on the differential effect by highlighting a point of difference from competitors but also show points of similarity that has to maintain focus on the product category. Brand equity equates into in-numerable advantages for the company. Brands which enjoy strong brand equity charge a price premium which is not available to other players in that category. Products with strong brand equity can command great respect and attention in the distribution channel. Furthermore, marketing programs developed by the company always receives a favorable response from consumers. Brand with strong brand equity can take the brand extension decisions with considerable confidence. Brand can be built only after persistent and well thought out strategy framework. Brand building starts with the choice of brand elements like symbol logos, etc. which transfer into a significant, unforgettable, defendable brand. Formulation of marketing programs which highlight benefits associated with the product at the right price includes a distribution channel and perfect mix of communication in the form of advertisement, hoarding, etc. In addition product’s secondary connection like corporate brand, country of origin can be used to create more value for the brand. This was the first step in brand building exercise. The second step is to develop marketing programs, which focus on brand awareness and brand image. Brand awareness provides brand with power of identification, power of recall, choice of purchase and consumption. Brand image provides brand with power to be associate with consistent quality, benefits, point of similarity and point of difference. If the company is successful in implementing above to two steps then it has created strong brand equity. This brand equity will create loyal consumer whose first preference is the said brand, whose consumer is willing to pay a premium and support the brand through all marketing programs. However, again the company has to monitor this brand equity and make sure it does not lose its prowess. This requires measuring of brand equity and management of brand equity. Measuring of brand equity involves calculating financial cash flow which marketing programs have been able to generate. It also involves a brand audit where every marketing plan is evaluated and benefits recorded. Management of brand equity involves expansion and extension plans, creating strategies to cater to different segment and markets. If companies are not able to comprehend fully nature of the brand and its potential, if they are not able to invest time and resources, if they are not able to adapt with the dynamic environment then it more than likely that brand will fail. So companies have to be on their toes all the time.
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