#CMCEvenings

Mr. Rakesh Vanarse tells us how Brand Management takes place in the 21st Century and why brands today have a stronger voice than before.

TSCMC as space believes in the ecosystem of education, which is why bringing the industry to the classroom is as imperative as introducing the concepts and theories taught to the students.

Announcing the “Brand Strategy Workshop” was a kind of fun and challenge at the same time. The idea was to discuss – Real Brands. Real Analysis. Real Learning.

The idea cropped when Harsh Desai from TSCMC suggested the thought of conducting a workshop where participants could really engage in real brands and understand how Brand Strategy really works! The scope of the workshop covered the process of observing a brand strategy, analysing brand’s current position, brainstorming over the strategy and recommending a forward strategy for the brand.

We started the workshop with an interesting mix of students and professionals among the industry. Here, the idea was to cut across age, experience and skills to establish the importance of ‘Brand Strategy.’

The session started with a discussion on the term ‘Brand’. We discussed and understood the importance of Brand Valuation, the end-result of all Brand Management. Here, participants understood the importance of building Brand Equity to achieve Brand Valuation. The valuation of the leading brands in India and the world was discussed. Here, we also observed that even micro, small and medium enterprises could now get into the brand building and achieve a brand valuation across their lifetime. An individual desirous of achieving life and career targets could also be done via brand building.

The next key area discussed was Brand Equity – the sum total of all value that a brand could achieve across its lifetime. Here, understanding of Brand Equity was that brand managers, organization heads, planners and other should concentrate on building their Brand Equity with a single-minded focus. The sharper the focus, the better the chances of building brands in a long-term sustainable manner.

Finally, Brand Strategy was described as the starting point to help build Brand Equity and held achieve Brand Valuation. Here, the emphasis was predominantly on understanding ‘Strategy’ on various areas such as product and service offerings, communication programs, consumer insights and the “Rational-Emotional-Subliminal” layers of Brand Building in the consumers’ minds.

All in all, the session ended with a positive response by the participants. Being an interactive session, they expressed their joy and thankfulness in learning and sharing various facets of Brand Building. Must say, a journey of a thousand miles begins with a single step.