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(By, Ganesh Raj, Founder, Smart Consulting)

A Brand is an identity / recognition derived over a period of time through characteristics of the product
and the advertising and promotional efforts made to build the brand. It is also an intangible asset for a
company developed over a period of time. The contributing factors to the recognition of a brand (either
a product or a company) are, the quality of the product, utility of the product, the potential the product
has in the market.

Companies generally follow two strategies in developing a brand.

1. At the launch of the product the companies invest hugely on Marketing, Advertisement, promotions.
2. Companies follow strong sales and distribution channel and take time to develop the product as a
brand.

Developing a product and positioning the product in the market so that the consumers identify the
brand by its utility is an essential point to be considered while developing a new product and branding
the product.

The necessary characteristics that go into the branding of a product are the target markets including the
size, region, and segment of the consumers (either B2B or B2C), the utility it has to the consumers, any
differentiating factors and of course the quality.

Brand Communication either through advertisements or promotional activities should be specific and
clear in communicating the product characteristics. Effective communication ensures clarity about the
product and reduces the efforts required to establish the brand. The characteristics of the product and
positioning the product in the market need to be in tune with each other.

The activities carried out such as Advertisements including - news papers and magazines, television,
Radio & hoardings, Promotions, Exhibitions, Packaging should be in tune and complementary in nature
to efficiently manage the resources. The locations, segments, demographics, timing and cycle of the
branding activities have to be well defined. As and when there is an improvement in the product or
significant developments in a company / business it is important to carry out marketing activities to
leverage the goodwill of the developments and the improvements in the company or the product.

Companies invest hugely in branding the products released in the market from time to time. Companies
carry out marketing, advertising and promotions, exhibitions on the branding. Hence it is necessary to
constantly monitor the returns received on investments. The constant monitoring of the returns will
help the branding activities to be carried out with increased efficiency.

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