| ashu |
Posted
on 25-Jun-03 04:41 AM
Hi all,
65 participants, owners of businesses in Nepal, showed up, each paying Rs. 5000 ro hear Neel speak.
A very special thanks to ad-man Navin Joshi and his colleagues at MaxPro for pulling
this workshop off really well.
Now, the idea is to take this concept 'downmarket' to small and medium businesses across Nepal through Nepali experts.
oohi
ashu
ktm,nepal
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Branding vital in todays market
Post Report
KATHMANDU, June 24 : Product branding in todays market is vital, especially in the light of the fact that competition amongst different similar products is intensifying all around the globe. Such a view was that of Neel Chatterjee, an Indian guru on marketing and advertising.
Speaking in an interaction programme held in the capital on the importance of "branding", Chatterjee stressed that no product can survive in competitive market without uplifting its image to that of a good brand amongst customers.
Chatterjee, who currently is the regional head of corporate affairs in Standard Chartered Bank, said that branding and naming are in no way similar terms as the former is far more important for sustainable business.
"Brand itself reflects the quality of the product. And so non-branded products cannot survive in the market in the long run. Consumers are gradually becoming more conscious over the quality of products they use or consume," he added.
"While in one hand companies are competing stiffly amongst themselves, they are at the same time pushed to the edge due to growing brand awareness amongst consumers," he explained.
Companies, therefore, for survival need to strategically tackle this challenge by keeping in mind both the company as well as consumers, said Chatterjee, who had held senior positions in Pepsi-Cola International in Colombo and New Delhi.
When asked how companies can establish the brand image of their products, Chatterjee explained that the bottom line is manufacture quality products.
"Once a brand name is established, companies definitely will be earning regular stream of revenue for long term," said Chatterjee, elaborating the direct profits that companies earn in the name of good brands.
Chatterjee highlighted the need to work for branding in Nepal especially in the light of the fact that Nepal is doing homework to acquire the membership of the World Trade Organisation (WTO).
"WTO allows foreign companies to make their way in Nepal. And this could be a great threat to those local companies that are not taking brand as their part of long-term strategy," he added.
Talking to The Kathmandu Post exclusively after making his presentation at the programme that saw participation of a large number of domestic marketing professionals, among others, Chatterjee pointed the need to protect brands after establishing it. He also said that many companies are facing difficulty in protecting their brands.
However, he added, "Brand protection is not as hard as companies think. A simple way can work it out and that is through regular investment on brand, including extending product-lines, among others." Chatterjee, however, expressed satisfaction over the positive response of the new generation of businessmen on branding.
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