The Hindu Business Line : "Brands should intersect with customers' daily lives"

CHENNAI: Companies should deeply understand customers and position brands in such a way that they would intersect with customers in their daily lives, marketing expert and CEO of Vivaldi Partners, Dr Erich Joachimsthaler said today.

While positioning brands, companies should also develop strategies to capture more share of customers' life, he told delegates at the two-day 'CII Brand Summit', which began here.

Some of the world's most successful brands including Nike, Hewlett-Packard, Harley Davidson and MasterCard have adopted different strategies to create their own identities but all these brands understood their customers in context. This has helped these multi-billion brands to gain higher market share for their products, Dr Joachimsthaler said.

Nike, in fact, become a billion dollar brand, without spending a single dollar on advertising, he said, pointing out that advertising was not very important in creating a brand. The brand should have a personality of its own, it must have an attitude and a value proposition, he said.

Companies in India, which is home to the world's second largest number of brands, have created successful brands by starting on a small manner from rural markets.

"Here low price products contribute majority of the sales volume. Lower income and lower middle income groups account for 60 per cent of a sector's sales", he said, adding that companies should have this in mind, when positioning brands. - PTI

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