There are several well established hosiery & apparel manufacturing companies struggling to go up the value chain on the benefits of clear differentiated brand identity. Branding brings repeat purchase and also delivers financial benefits in terms of higher margins & customer loyalty.
There have been several discussions organized by various stakeholders in the process to enlighten the entrepreneurs about the value of investing in brand building but nothing noticeable has been achieved till now. On the contrary many established brands have lost their equity to poor management of the brand. Some companies did take help of major advertising agencies but the results are not very encouraging.
Ludhiana industry has been serving as sourcing base for many global brands for couple of decades now but it has failed to create a brand of the same stature. There is no dearth of manufacturing excellence but no manufacturer has been able to succeed in building powerful brand.
Moreover many established local brands have lost out to the global brands. Accepted that customers have fetish for the foreign but that’s only one factor which exists along with many others. Lets us try to find out those other factors that could get you well earned brand equity to ride the market.
Let’s agree that Ludhiana hosiery & apparel manufacturers have the requisite technical knowledge & technology to produce great products for the most demanding buyers globally. But can we say the same when it comes to the marketing excellence?
Foremost challenge to poor branding is the lack of a differentiated equity. To begin with a brand requires a clear enunciation of what it stands for. For example, ‘Sporty’ brand must offer major products for the sports segment. A ‘hi-fashion’ brand could occupy a distinct fashion style amongst many on the offer. The customers must be able to associate a brand with some particular set of satisfiers s/he is seeking.
The quality of advertising would be needed to build great brands. How could you believe an advertisement that promises a discount of 65 per cent? , customers are no fools. Messages like get 4 on purchase of 2,
could never build trust & loyalty in the market. A serious business would never treat their customers with such utter disdain. There are many ways to promote your brand without diluting the trust of customers.Your marketing could create a continuous evolving differentiation for your brand. Though Indian market would continue to offer volume growth at the lower end of the value chain for quite some time to come but the benefits of power branding would be long term and more exciting.
Anahad MC would assist you in designing a marketing strategy that would propel your brand into the right segment for years to come. Please call us for a preliminary meeting to demonstration of how could we assist you in dominating the market like never before.
Our innovative per day based service could help you get a preliminary check up of your marketing needs. We would analyze the problem & suggest remedial actions at a very nominal day based charge only.
Whenever you feel the need to revisit your marketing plan, please feel free to ask us for assistance, Thank you.