VGSOM, IIT Kharagpur hosts Viren Razdan of Interbrand on 'Brand Power'
| September 10,2012 05:56 pm IST
When a person says pizza the first thought that comes to our mind is Pizza Hut..
Such is the power of a brand and we at VGSOM, IIT-Kharagpur learned this through a fabulous guest lecture session by Mr. Viren Razdan, Ex-M.D., Interbrand. Mr. Viren Razdan has a career spanning 20 years in varied roles which include communication, brand and marketing strategy initiatives, design management for power brands like Pepsi, Coca-Cola, Nestle, Samsung, Hyundai and the Commonwealth Games Delhi 2010.
The session started with Mr.Razdan asking the students how much more we are willing to pay for a coffee from Starbucks over a coffee that has the same quality and taste but unbranded. A brand as we see had and continues to have legacy for many years as is the case with previous example. Apart from the common old brands like Sony, Nike, etcin the recent years many disruptive brands like Apple, Under Armour, PETA, Zip Car, Wii, Amazon, etc have been able to penetrate deep into the minds of the people.
Brand as Mr.Razdan explained is the living asset of an organization brought to life across all touch points like identification, differentiation and value. Further, they must be credible, relevant, different and stretching. He explained that brand is a powerful engine to the business strategy which has the ability to create market opportunities in the future but also has the ability to achieve organizations vision by satisfying customer demands and needs. A good example cited in this regards is Mr. Kishore Biyanis Future Group.
Mr. Razdan recognized that many companies which are prominent in todays market have been able to constantly create, implement and evaluate the brands. Indigo airline is a classic example. He explained how they started as a low cost carrier and now they transformed themselves in being the cool carrier. He also discussed why some brands like Bata, Bombay Dyeing, etc failed to maintain their legacy and elucidated how various brand consulting firms attribute the reason for this by valuing the brand across these 10 brand factors: Authenticity, Differentiation, Relevance, Clarity, Understanding, Consistency, Presence, Protection, Commitment and Responsiveness.