In pursuit of brand harmony

Written by
Chetana K.
Image reference: https://www.theguardian.com/business/gallery/2012/jan/19/eastman-kodak-history-pictures
Image reference: https://www.theguardian.com/business/gallery/2012/jan/19/eastman-kodak-history-pictures

Usually, happy & harmonious life is a combination of good health & wealth, although the definition of the term "good health & wealth" might differ from person to person. This applies to brands as well. Only the definition changes a bit. The health of a brand is its product or service & the wealth of a brand is its positioning.

The health of the brand depends on what you offer. Your product or service is in a good health if it is solving a problem faced by a sector of the human population, with attention to detail. When your product or service is doing this, then any marketing strategy will garner more desirable results, since the customers can trust & rely on your brand.

The wealth of the brand depends on how exceptional what you offer is. Brand positioning decides how people think about your brand (or do they even think about your brand?) Factors that make the brand positioning are the target audience, the product's uniqueness, pricing, quality, etc. & customer service.

Let's look at an example to see how this works. Kodak company was a pioneer of film photography. By making it possible to capture moments in a film, it stood different & carved out its place in the minds & hearts of its audience. The picture, however, changed eventually. Gradually, digital photography started taking over the markets. Kodak did not promote its digital products & while ignoring the change in the trend, decided to stay put with its film photography products. Soon, the brand positioning of uniqueness used by Kodak was making less sense, since people did not need what they offered anymore, & the other alternative was more favorable to them. This became one of the prime reasons why Kodak failed.

To conclude, a brand is successful if its product or service is evolving with the market needs.