'Building Brand Value', the third book by M G Parameswaran, Executive Director, FCB-Ulka, was launched on November 25 by Sebi Chairman, M Damodaran. While the earlier two books were also on brand building, the third one promises to be interesting given the Brand Building Pentagon specified in the book, which draws a roadmap for building new brands or strengthening existing brands.
Explaining more on this, Parameswaran explained that following substantial reading that he had done on national and international brand building, he had arrived on the fact that internationally a brand could be built in three stages, as they began with perhaps the second or the third stage.
However, in India, we still had some basics to observe and hence, these five steps. "'Brandification' is low is India yet," observed Parameswaran, adding, "We have to bring some fundamentals in order before the brand can be built."
According to the book, the first block of the pentagon was Brand Appraisal. This is followed by Brand Definition, Brand Articulation comes next and the fourth step is Brand Measurement. Brand Expansion is the final step, but according to Parameswaran, the most important was what followed the Pentagon – which was Brand Execution.
The book is woven around a model that has been developed for building brands in an Indian and in a developing economy environment with a strong Indian flavour in its application of the many branding concepts. India offers great opportunity for branding. This book has been designed to help marketers to build better brands and brand values.
A point that Parameswaran makes here is that, emerging from the time he has spent on the book is, "The brand building theories have largely been developed in the US. Britian and Europe, too, have seen some work. However, developing economies like India have done much on original works yet and that is what is required."
Parameswaran is already thinking on his next mission. He divulged, "The first book, which was largely case studies of brands is now almost eight years old. I think it is about time we can do update there."
The first book was titled, 'Brand Building Advertising: Concepts and Cases'. It emerged from the fact that Indian advertising presents a kaleidoscope of imagery – global brands batting local brands, regional brands battling national brands, 'value' brands battling 'better value' brands.
'Brand Building Advertising' wades though this complexity and shares with the practitioners some of the success stories of FCB-Ulka. The book dwells on the process of genesis of a brand, where it emerges from the shadows of anonymity into limelight of brand equity.
Parameswaran's second book was 'Understanding Consumers: Building Powerful Brands using Consumer Research'. This book looks at questions like 'Who is my consumer?' 'Why does she buy my brand?' 'Why would she continue to buy it?' and other such questions which are critical to creating the building blocks of successful brands.
'Understanding Consumers…' aimed at helping marketers understand the process of creating a template to find answers to various questions using marketing research.