Branding has become even more critical to financial management decision-making in the age of disruptive technological change. When we buy a top-end mobile phone, branding rather than technology, appears to be the critical factor for us to make the purchase decision.
Branding is not a selective set of marketing activities, nor a good-looking logo and a well-liked slogan. "If you are not a brand, you are a commodity. Then price is everything and the low-cost producer is the only winner." said Philip Kotler.
We may contribute success of a company to innovative leadership, best operation practices, good location, superb qualities, awesome service..., without noticing that all these factors are inherent to a brand.
Well, branding is a strategic and emotive value attached to the customers, how would a financial consultant advice a company on branding strategy? If branding helps a company generate super-normal stream of cashflow as compared to its closest competitor, we should be able to assess its value.
When I take up "Kairos", a Greek word meaning "opportune time", as my company name and later my own personal name many years ago, very few people knew this word. If we search for "Kairos" as part of a company name now, there are more than 2,000 entities. You may set up another "Kairos" company tomorrow, if you like this name too. I also choose a tag line "Best of the time" which not only restating the meaning of the name, but it is also the value my company intends to give to my clients.
Branding is, however, more than a name and a slogan. It is a personality, an emotive relationship, and a promise we have had with our stakeholders.
Branding itself is a business process which should be well-planned, strategically focused and integrated throughout the corporates. Branding establishes the direction, mission, and inspiration for a company's most important asset - its brand.
With our experiences and track records as a management consultant, we would be glad to audit your brand inventory, conduct research on your customer profile and advise you on a brand strategy that will improve and re-design your product provisions, pricing, delivery channels, risk mitigations and your processes.
WhatsApp me at (65) 8825 6627 for a chat!