Recently I read 24 Brand Mantras-Finding a Place in the Minds and Hearts of Consumers, a book on Brand building by Jagdeep Kapoor. As the author rightly claims, the book puts forth 24 mantras for building brands in a lucid way. The 24 mantras, well illustrated with examples, will be an interesting read for management students, and all those who are/will be involved in one or another way in marketing including building brands. Wait… before you think this post to be a review of this book, let me surprise you saying that I have no intentions to do so :). There are a plethora of websites where you can find reviews of this book. In this post, I am just penning down those 24 mantras, which by mere headings will convey you their essence. Presently, I am trying to understand these mantras further in the light of the insurance industry.
Brand Mantras for the Mind
- To build a big brand, adopt a short brand name.
- Do not let jazzy research replace common sense.
- Use benefit segmentation to build brands.
- Sample, to sell ample.
- Do not hesitate to communicate.
- Like salt, use advertising in the right proportion.
- Jo dikhta hai, woh bikta hai (What is visible, sells).
- Brand images are fragile, handle with care.
- Your consumer’s needs come first.
- Do not underprice yourself.
- Brands must make profit, not only noise.
- Focus on Consumption rather than purchase.
Brand Mantras for the Heart
- Be humble, or you will tumble.
- Build relationships to build brands.
- Respect your retailers.
- Avoid generality to give your brand a personality.
- Nurture your brand as you would a child.
- Service is a first step to a great brand.
- Remember, consumer look for perceived value in brands.
- Do not sell the right product to the wrong audience.
- Pay heed to consumer emotions.
- Do not pre judge your consumer.
- Respect the local consumer.
- Be honest, do not con.