Colloquium: October 31, 2007
Mr. Omkar V.Sankar
How to create successful brands?
On October 31, 2007, Amrita School of Business organized a colloquium which was presided by Mr. Omkar V. Sankar, Chief Executive of Sankar Foundation, Coimbatore. He holds a Masters Degree in Sciences (Tech), finance from BITS, Pilani and MBA from University of North Carolina at Greensboro, USA. He has worked with Compaq Computer Corporation and Hewlett Packard for a while. He is a Member & Co-Chair, Youth Affairs of the Coimbatore chapter of Young Indians, a part of the Confederation of Indian Industry.
He had come to ASB to deliver a talk on “how to create successful brands”. His main emphasis was on how important brands are in our day to day life. He started by discussing about a product called Tylenol, a liquid alternative to Aspirin for children. Tylenol was the largest single brand used by Americans. It was acquired by Johnson & Johnson in 1959 which contributed to 8% of its sales. In 1982, seven people died by Tylenol because of cyanide present in it. Johnson & Johnson was compelled to withdraw itself from the market. The company to regain its credibility used various ads, offered free Tylenol to customers, etc. and finally in 1993 gained its reputation. This case was an example of how important branding was for a company.
A brand is a product with added value which differentiates it from all other products in the market. Anything can be branded from physical goods, services to sports and entertainment. A brand can also be a person. It not only defines the product but also defines the people consuming it. Brands are important as it helps to gain people’s loyalty towards the product. He emphasized on creating brand awareness as the more a consumer experiences a brand, the more likely it will be registered in his mind. This can be done by using brand elements like brand name, logos, symbols, slogans, jingles, packaging, etc. He also discussed about the 4 Ps of marketing which are product, pricing, placing and promotion and how these 4 Ps influence a brand. At last he concluded by saying that at any point of contact with the customer, brands should communicate the appropriate message as it should deliver the customers experience.
R. Gayatri (I MBA)
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