Patience is imperative in building a brand. This was the thrust of the presentation by Peter Hammond, Regional Director, Esprit, Asia, on the second day of the 7th KSA Retail Summit in the Capital on Thursday. Speaking on "Building a Retail Brand in India," Hammond laid stress on the similarities and differences between India and China in positioning an international brand like Esprit.
"Customer relationship marketing is essential for communicating and understanding the consumer," Hammond said, enumerating certain issues, which are vital for the success of an international brand in India. "Don't compromise your international image, be patient, fine tune your product to optimise sales, maintain intimacy with customers - these are some of the factors that international brands should look into to achieve success in India."
The day began with a session on 'Writing and rewriting rules of retailing.' Farooq Kathwari, Chairman, President and CEO, Ethan Allen, USA, elucidated the importance of consistence brand reinvention and create differentiation in order to meet the competition. "Our main objective is to bring people to our stores and maintain the leadership which is possible through excellence, innovation, hard work, confidence, internal and external communication, prioritising the differences between big and small issues and being just to your employees," he said.
William Pace, Chief Executive, Kurt Salmon Associates, USA, in his address on 'Competing successfully in a competitive world,' drew upon the history of Wal-Mart and stressed the need for "successful hyper strategies of suppliers." He cited the examples of Proctor & Gamble, Gillette, Hallmark Cards, Nike and Dean Foods.
Graham Hales, Executive Director, Interbrand, UK, in his address on 'Creating and sustaining value through branding,' underlined the importance of "thinking differently" and explained the need for "a brand to own a place in the hearts and minds of people."
Hales cited "credibility, differentiation, relevance and stretch" as the four key factors that one needs to keep in mind while looking for a great brand idea.