DIU Activities > Ranking
Ranking The Brands
shibli:
All revenues cannot be measured in short-term perspective. Once a brand name is established, revenue is a logical sequence. Also, cost saving brings revenue. For example, if any construction work or renovation work or development work is done unplanned or unsystematic way, a lot of costs are incurred in renovation and decoration which, sometimes, involve in doing the same work again and again. Cost Minimization is the biggest challenge as far as organizations in Bangladesh are concerned. On the other hand, if some quick revenue comes in the short term, paradoxically it may Not bring real value always in the long run. So, planning for long-term revenue by establishing brand image should be the key to success for entrepreneurs.
shibli:
The most misused and least understood word in the business is branding._Austin McGhie. If i judge my own company's brand myself, that would be the most stupid thing. Let the people judge it. If my products and services are sold increasingly, that indicates my company's brand image to be established.
Suppose, I am doing international linkage. Whether I am doing it rightly will depend on the people's feedback or recognition.
Many times brand value is misjudged. If i think public relation or advertising or foreign collaboration will increase my company's brand value, that might be wrong judgement.
Real brand value can be judged if we do quantitative research. For a university, the rate of admission or students' rush for admission test is the first indicator. Secondly, getting awards and recognition. Thirdly, public word of the mouth or feedback. Fourthly, research activity.
Point is: Never judge your own brand yourself. Let the people judge it. If they don't give feedback, ask them.
shibli:
Many leaders may misjudge brand. They think if they can bring brand ambassadors, guests, spokespersons, it will increase their company's brand name. They want to judge the present value ignoring the future permanent value of their company. However, Experts say brand is created by continuous brand experiences. If Shahrukh khan comes to a place once, that will not increase the brand value of the program permanently. Because people tend to forget instant experience. But if SHAHRUKH comes regularly and continuously, people will remember these experiences. The point is: if you want to increase your company's brand value, please think about the customer equity, that is long-term future value of the customers, that can be created by continuous superior services towards the customers and by motivating the customer-oriented people who provide the services.
goodboy:
Yes sir, the stable & top quality service of an organization can surely add the brand image & permanently can fix it up.
shibli:
Most leaders pursue wrong and vague brand value. For a service-oriented company, services should be given one and only priority. And, for a service company, brand value depends on the following things:
1. Service differentiation, i.e., providing something different and extra than the competitors do.
2. Service quality, i.e., Not compromising with quality.
3. Service productivity, i.e., The people who deliver service should be motivated.
4. Service should be made as memorable experience: customers should be provided with these services in a way that they remember them as memorable experiences and share others about their experiences
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