Does my brand enjoy a positive, distinctive image?

How is the image of my brand different from that of competitors?

What does my brand stand for, and is it consistent with my brand's positioning?

Market research can provide the answers to these questions. Research can measure what values and attributes are most relevant and believable to the consumer. It is important to measure both the external and internal audiences' attitudes toward the brand along with the brand equity which involves the utility estimation, measures the value (utility) of product features, price levels, and measurement on the overall utility of a product. Aside from utilities, contributing factors such as current awareness levels of each brand and overall perceptions of each brand are also important parameters. Brand names are indeed company assets which must be invested in, protected, and nurtured to maximize their long-term value to the company.

Some brands get this right. Some brands speak to people. These are called as VISIONARY BRANDS. Only if the marketers deliver a value advantage over the new brands entering the country, either in terms of superior benefit or better costs or some combination of both creating the brands as "Visionary Brands", will the Indian brands gain an advantage over the overseas brands.

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* Contributed by: -
Prof. Sapna Modi,
Asst. Professor (Marketing),
Guru Nanak Institute of Management, Mumbai.