Date: November 06, 2009
Prof. Amitava Chat-topadhyay is an alumnus of IIM Ahmedabad & University of Florida. He held academic positions at McGill University, Mont-real & University of Brit-ish Columbia prior to his present position at IN-SEAD. He has a large number publications in leading refereed journals, and participation in refe-reed conference proceed-ings. He has also been as-sociated with many con-sulting projects and devel-opment of pedagogical materials.
Brands exist as network of associations in the minds of the target consumers.
Brands are taken as powerful assets built by the company.
The three elements of Brand- Brand Identity, Brand Image and Brand Positioning contribute to developing a strong brand.
Brand Identity needs to be articulated taking into consideration the consumer needs and company capabilities.
Emotional reactions play a crucial role in driving choices
Brand Identity & Positioning have a key role to play in coherent strategic formulation.
Prof. Amitava commenced his talk with a question “what is a brand”? Generalizing on the opinions put forth, he talked about brand and how to build strong brands .He further emphasized on brands to be constructed on four parameters of what people see in public, one’s experience with the product, personal interaction with the company and what we hear from others. He further opined about branding as a strategic process and how each and every function within the organization is responsible for brand building. Adding to the fact, he talked about brands, if managed properly can give better stock market returns exemplifying with facts & figures. He further talked about Brand Identity and how to build Brand Identity on a set of values which the brand wishes to offer to its target consumers. He also talked about Brand Image and how it needs to be brought close to Brand Identity. Lastly, he emphasized on Brand Positioning, the third important element of building strong brands and based the statement on four factors-target consumer, value proposition, competitive set and capabilities. In short, he focused on brand, its importance, and how business happens when we are able to build a brand and manage the same.