Brand can be defined as “a name,term,sign,symbol, logo, image or a design which is used to identify the goods or products in the market strategy. Brand plays a vital role in marketing environment. Brands guarantee Quality evokes desire. Brand works with different ways, such as brands helps us to find the quality,info,selling stuff, adding knowledge etc. in ways never could before.
Brands attracts the customers, it shows the quality and gives the assurance. Brands are belonged to farmers, manufacturers,advertisires,organizations,companies and more. There are many objectives of brand they are:
1.Motivating the buyers.
2. Highlights loyalty.
3.Messages are delivered clearly about the product.
4.Shows the innovation of the product.
“How do the brands survive in the market. What are the factors….?”
For the success and survival of brands we must understand the needs and wants of the customers. Because customers are the primary bridge for the marketing. It is important to spend time and make research on brands like investigating, researching for the better development of brands. Companies like Apple, Samsung, Cocacola,Audi,Harley Davidson,Amazon,Tesco,Sainsbury etc. are in the top of the global market economy. All these comes in their brand and also the service they provide to the people.
The key factors to the success of brands are:
4.Strong support culture.
““Failures of Brand in the market…”
There was a brand called “HMT” Watches an Indian company established in 1961.It had its unique brand name from decades. But it lost its brand image after some time because many other Watch companies came in to market creating new innovations in brand images like Sonata, Fast track, Timex etc. The HMT had the same style of models in their productions. So they lost their market on the brand. But still the brand image can be saved by implementing some new ideas like:
1.Adapting new styles and models.
2.Changing the quality.
3.Providing offers and discounts.
4.Advertising in media and shopping malls by using good models.
Failure of brand causes and effects the performance of the company it may lead to the closure of the company. Let us take the example of “Kingfisher airlines “company which has drastically fallen in its performance and also in its market place. The airline has experienced loss more than 600 crore rupees(Indian currency).The main reason for the loss is it is the company which has no control on the costs(finance).The basic expense for running the airlines is oil. And the oil rates in recent years has gone to high rate to around 120 dollars per barell.The airlines have no control on this price. Higher the rate goes the expenditure also goes high. The major problem found was the airlines dint had its own oil sector. It used to get petrol from the other sectors like when it was landed in England from there it is used to fill likewise from other countries also.So,the oil companies refused airlines to provide oil. This was the major aspect for loss of the company. So now the question arises how the Kingfisher can airlines can avoid these