Wednesday, August 27, 2008

What a BRAND means for a common person?

For a common person or the people at the bottom of the pyramid a BRAND is an association, an emotion, an attitude and a sense of ownership. A common person associates his emotions with a Brand then relates his story with the Brand, this translates in the sense of ownership of the Brand, ultimately with a sense of ownership comes attitude.

Over the years even the common person has changed, his knowledge has evolved with the information available through TV, Radio, Internet and Newspapers. Also the outside world has changed quite a lot, even this made impacted on his knowledge. The common man is no longer common he might earn $ 50 (approx Rs. 5,000/-) per month but dreams to become a millionaire (Crorepati, thanks to Kaun Banaga Crorepati). The common man dreams to drive a 4 Wheeler (Nano, the Rs. 1 lakh car, new offering from Tata Motors). So dreams are being blown out of proportion by media. Banks are offering EMIs on anything and everything from buying mobile phones to buying houses, from blowing money on weddings to entry in elite clubs and all this drives the common man towards Brands.

The common man's aspirations towards Brands have led to Brand categorisation from super luxury and elite Brand to the most fashionable Brand. Marketers and Brand managers have differentiated Brands for each segment catering to different strata of society.

To take care of the common persons aspiration about Brands, stores like The Loot (Discount store, offering 25% to 80% discounts on international brands like Levis, Pepe, Banana Republic), Big Bazaar (Offering everyday discounts on grocery, utensils, electronics, etc: it provides common people shopping mall experience), Seconds outlet of Bombay Dying towels and bedsheets have been launched, etc. These stores to provide the COMMON PERSON experience on owning a BRAND and a sense of attitude about the BRAND.

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