MNCs' Branding Strategies - India

MNCs' Branding Strategies in India: Product Perspective M Thirulogachander The success of MNCs entering into a country lies in their clear vision and well-planned strategy. It is important that they understand the preferences and lifestyles of the local consumers to be sucessful in the local market. MNCs also require continuous support from the parent organization, which will enable them to bring in the best practices across the world to the local management. With the arrival of MNC brands, Indian consumers have become more brand conscious. They now spend enough time to acquire knowledge about a brand. Though consumers in India are price driven, MNC brands have persuaded them to give value for money.

MNCs' Branding Strategies in India: Product Perspective - M Thirulogachander
http://www.icfaipress.org/606/mm.asp

Branding Insights

To me brand is a myth like life, more you probe the more you understand, in outside view it may look like lifeless object, which stand aside from its peer group.

Who create a brand?
Is there any systematic and scientific approach to create brand?
Does time dimension impact brand sustainability?
Can we create an immortal brand?
Why major giants had encountered brand failures?

These are few questions, which has no single answer to explain it nature. But we need to get the optimum answers to make predictions with accuracy.

Let us take each one and discuss in details.

Who create a brand?

Not all brand are created by the marketing budget of the company or the mass who endorse the brand. Brand evolves over a period; the duration is critical and dependent variable. Creating great brand will be determined by three major factors, in right time, at right palace, to right people.

This equation should have maximized value to build great brands (Maximized value is a relative factor).

Is there a systematic and scientific approach to create a brand?

Of course, everything is this world has to obey the rule of its nature, but brand is highly related to sixth sense, understanding its system is complex and require right approach to do that.

Does time dimension impact brand sustainability?

Time is very important factor in creating successful brands, brand has to change with change and adapt to time factor.

Can we create an immortal brand?

I don’t think we could do that but we have great experience in creating immortal brand that exist for long measurable – all our immortal gods that we created in past still live with us.

Why major giants had encountered brand failures?

There are simple and complex factors to the failure of brand, major companies missed to address these factors.