One can end up with a powerful brand strategy by selecting the right type of brand.
Let’s discuss the types of brands that are generally studies by management students in top management colleges in Delhi
Disruptive brand deals in the principle of - “Customer is always right. It also transforms industry with a customer centric approach. By giving customers what they really want is the best way to enjoy success. These disruptive brand delivers something that already exists in much better way to create disruption in that market.
Eg- The most high valued startup, Uber - The taxi hiring app which added convenience in the life of commuters.
Conscious branding is about building strong values and leaving a positive impact. It turns ambiguity into clarity, disorder into stability and ideas into reality. Conscious brand fosters positive values and relationships with all stakeholders. This type of brand is future for all brands as Conscious branding supports positive change in customers, business and society.
Eg- Slumlove Sweater Company which provides stylish and quality products for both men and women
The aim of service brand is not only to deliver outstanding service but also high-quality customer service. One has to be proactive, responsive, anticipate needs and delight the customers. A strong service brand will be developed if all above activities are done consistently over time.
Eg- Airtel - The fastest growing telecom network which is now also a payment bank
Innovative brands involves innovation of new ideas and methods by creative thinking. The purpose of an innovative brand is to reinvent their industry by introducing a new line of products or making changes in existing products. To strengthen the brand, the company needs to increase sustainability which leads to a future growth of the product.
Eg- Tesla's innovation which are transforming the auto industry
Value brand is also termed as Brand Equity. Value brand can generate more revenue by offering commodity at a lower price for basic quality. In case of consumer products, brand value is measured through customer loyalty and staff retention.
Eg- Uber- The smartest way to get around
A luxury brand offers high-quality products that are usually in a higher range. They have perceived the rarity, extraordinariness and a high degree quality in the mind of consumers. Luxury brand target the People with higher income as these products are the status symbol for them.
Eg- Bentley - One of the most high end luxury cars around the world
Top management colleges in Delhi
keep on competing to be a valuable service brand although they should thrive to be a disruptive one as only few b school in Delhi
like NDIM can set an example being a Disruptive Brand. New Delhi Institute of Management is committed to deliver the highest quality of education and corporate exposure to help develop the next generation of global business leaders.