Brand Equity

The value premium that a company realizes from a product with a recognizable name as compared to its generic equivalent. Companies can create brand equity for their products by making them memorable, easily recognizable and superior in quality and reliability. Mass marketing campaigns can also help to create brand equity. If consumers are willing to pay more for a generic product than for a branded one, however, the brand is said to have negative brand equity. This might happen if a company had a major product recall or caused a widely publicized environmental disaster...


The purpose of brand equity is to measure the value of a brand. 
A brand encompasses the name, logo, image, and perceptions that identify a product, service, or provider in the minds of customers. It takes shape in advertising, packaging, and other marketing communications, and becomes a focus of the relationship with consumers. In time, a brand comes to embody a promise about the goods it identifies—a promise about quality, performance, or other dimensions of value, which can influence consumers' choices among competing products. When consumers trust a brand and find it relevant, they may select the offerings associated with that brand over those of competitors, even at a premium price. When a brand's promise extends beyond a particular product, its owner may leverage it to enter new markets. For all these reasons, a brand can hold tremendous value, known as brand equity


Strong brand equity  provides the following benefits:

1. Facilitates a more predictable income stream.
2. Increase cash inflow.
3. Brand equity is an asset that can be sol or leased.

Indian FMCG Industry.....

The Rs.85,000 crore FMCG market in India is growing at a fast pace despite of the economic downtrend. The increasing disposable income and improved standard of living in most tier II and tire III cities are spearheading the FMCG growth across the nation. The changing profile and mind set of the consumers has shifted the thought to “Value for Money” from “Money for Value”.

Over the years companies like HUL, ITC and Dabur have improved performance with innovation and strong distribution channels. Their key categories have strengthened their presence and out performed peers in the FMCG sector. On the contrary, Colgate Palmolive and Britannia Industries are strong in single product category i.e. tooth pastes and Biscuits. In addition companies have been successful in reviving their presence in the semi-urban and rural markets.

FMCG Sector is currently going through a drastic change in its approach and the market it is catering, the demand of the customers is changing and so  the need arise for a change in the product or the way it is marketed.

One More interesting trend to note is in the advertising because we all know a major success reason of any F.M.C.G. product is its advertising. In advertising on one hand we can see that the market of Television with youth is decreasing because of Fast lifestyle and availability of most of the interactive media on Internet. So there is an emerging trend whereby F.M.C.G. players have increased their focus on online advertising which is expected to grow at 30% a year. While on the other hand the inclusion of Television is increasing with the fall in the Television prices and comparative increase in the Purchasing power but still to attract that segment advertising solely on T.V. would be an expensive proposition and its reach would also be limited to the upper strata rural people. So, here companies are employing the rural media to increase their product awareness by employing the rickshaw, auto, Walls of houses and shops banner which have a higher reach and these mediums in village do attract attraction.

Importance of Digital Marketing

With the advancements of new technologies, business trends and strategies are also changing fast. Before, a business used to be limited to a particular area only, now it has global reach, addressing customers worldwide. Thanks to the digital news Media marketing, you can now store and use data in digital format that can be released to the targeted audience anywhere, anytime.

  

In digital news media marketing, you can store and use audio, graphics, video, and text data according to your own marketing convenience, and can direct them to the desired area, even globally through the internet.

For greater impacts and for the sake of good presentation, one can combine data like text, audio, video, and graphics and offer their product or service to the potential customers. What used to be once the efforts of many to present a product or service, has now become an automated procedure since you do not need a huge number of manpower to reach even globally.

  

Marketing has started its travel from a physical showroom and has reached to its current destination of virtual showroom, enabling a faster, professional and wider reach much economically.

The world of internet has offered enormous ease when it comes to marketing. The digital news media marketing has tremendously benefited from the internet. While sitting at the comfort of your own office, you can now market your product to the other corner of the world. This is the great benefit of digital marketing through internet.

Digital marketing should not be confused with the internet marketing as different marketing approaches are made in both of the cases. While digital news media marketing is not just limited to the internet, the internet marketing is just limited to the internet where you can display whatever information you want for the targeted viewers, anywhere in the world.

The importance of digital media marketing has proven itself as an essential part of a business and as a fast mean of transferring information.

The strategy of digital marketing is based on two types - ‘pull digital marketing’ and ‘push digital marketing.’ In Pull Digital Marketing, it would be possible for any potential customer to reach to the source that provides details of the product or service.

Advertisers use different media to attract and direct the customers to the targeted source, such as websites, blogs, other audio and video sources, etc. In Pull Digital Marketing, you actually have to ‘pull’ the customers to the targeted area. On the other hand, in the Push Digital Marketing, customers are provided the required information through any digital advertising media. By using RSS, SMS, Cell phone calls, etc, you have to ‘push’ the potential customers towards your products or services. While digital news media marketing has changed the whole concept of marketing, it is necessary to employ multiple channels of delivery while using both Pull and Push digital marketing techniques.

The digital media marketing will be more advantageous and yielding if carefully and sensibly planned and presented to the targeted customers. The use of graphics, audio-visual displays, animated or impressive text, etc certainly do a great job to attract and persuade potential customers towards your targeted goal....