Building border less brand Rethinking Innovation
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The document discusses rethinking innovation for global brands by devising solutions to customers' unmet needs and linking products to customers through effective communication while avoiding challenges like unkept promises, negative publicity, and counterfeit products. It emphasizes that innovation requires going beyond surface-level gestures like chocolates on pillows to truly understand customer needs on a global scale in this interconnected world.
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Building border less brand Rethinking Innovation
- 1. Building Border-Less BrandRe Thinking Innovation
- 3. “Brand is not new”
- 5. Innovation 1. Solution devising Customers unmet needs
- 7. Challenges 1. Linking Product to Customer 2. Communication Challenges 3. Un-kept Promises 4. Negative Publicity 5. Counter-feit products
- 8. Thank You Chocolates on the pillows are not enough Rethinking innovation Nitika Garg& Alok Mahajan
Editor's Notes
- Nitika:”I would like to share an interesting story that I m sure you will find an connection with .I woke up half heartedly today as my Nokia’s alarm rang. I used Colgate to freshen myself. After getting ready I turned on MTV to listen to some nice music. Then I started my Honda-ACTIVA and rushed to my college. Reaching college I opened my HP laptop and the first site I opened was facebook” <pause//give audience time to think> As you must have noticed that global brands have seamlessly created a space for themselves in our life and I am sure the above routine also stands correct for a resident of Asia, America or Australia. << Clapping Clapping Clapping Clapping Clapping Clapping >>
- Nitika When Ratan Tata was asked what brand is all about, he said: “The brand is something you can hang your hat on.”Brand is a promise made and a promise kept. It is just like a friend, a friend from a school who is still a friend of yours and ,you still want to maintain that momentum, maintain the values and adjust as you go through different ages and keep that relationship as crucial.
- Alok Concept of brand is not new. Even in Shri Madbhagwat geeta there is an incident which says that on gandeeva of Arjun, symbol of Lord hanuman was present an .it signified the support of Lord Hanuman and where Lord Hanuman is present Lord Rama is also there. So Arjun was directly getting support of Lord Krishna as well as Lord Rama.<more R&D needed> Who doesn’t know About Thomas Edison’s characteristic signature executed with a flourish and duly trade marked. Which later on turned to become the most recognizable logos in American manufacturing history.<shabash shabash > Now I would like to take you attention back to 21st century.
- Alok <let me again tell u a story> 14 years ago when India celebrated the 49th independence anniversary,Sh. H D Deve Gowda, then the prime minister, stood at the ramparts of New Delhi’s 16th century Red Fort and delivered the traditional Independence Day address to the nation in Hindi, India’s ‘national language’. Eight other prime ministers had done exactly the same thing 48 times before him, but what was unusual this time was that Deve Gowda, a southerner from the state of Karnataka, spoke to the country in a language of which he hardly knew a word. Tradition and politics required a speech in Hindi, so he gave one – the words having been written out for him in his native Kannada script, in which they, of course, made no sense. Such an episode is almost inconceivable elsewhere, but it represents the best of the oddities/innovations that help make India a unique nation. http://tharoor.in/2008/08/celebrating-indias-linguistic-diversity/ Similarly global brands can be called king of the kings just because of sheer innovation . They have challenge the conventional thinking and in the process have changed rules of the games. One thing that consumers always want is “The Impossible”. They want something that they can be confident and has worked well in the past. A brand new product goes a long way when it has a trusted and familiar brand name and goes a long way towards satisfying this acute contradiction in terms. Just a look at Tata Nano on your friendly neighbourhood or a device by Nokia lying in your pocket is enough to stir the essence of innovation. Today, innovation is about much more than new products. It is about reinventing business processes and building entirely new markets Get more examples just in case where rules were changed first mover advantage/or aloo example this at meet untapped customer needs. Most important, as the Internet and globalization widen the pool of new ideas, it's about selecting and executing the right ideas and bringing them to market in record time. Champion brands have re invented them continuously. Be it jit,kaizen or oobeya < from a company which has redefined the automobile to connect to a million people of the world. Yes I am talking about Toyota. Samsung making a dent in global markets as well as in people’s mind by giving us first bend able OLED Screen, or reactix- a TV that lets viewers move what’s on the screen with the wave of the hand. ,E-Bay’s story from online bazaar to virtual community where some 48 million active users are willing to participate in an online market with strangers they have never seen before , Spanish brand Zara’s speeding bullet supply chain or unconventional fabric driven concept , HCL’s employee first philosophy or directions which is brainchild of its vice chairman Vineet Nayar, never hesitated from challenging the conventional thinking . . These brands have realized that chocolates on the pillows are not enough so innovation is their life line. Those who are do not discomfort themselves are well on their way to become next kodak or K-Mart. Steve Jobs have rightly said that “Innovation distinguishes between a leader and a follower.”
- Nitika The people are no longer bound by territorial restrictions any more, getting the world closer. It's no longer about 'my country and me’; it's now more like, 'the world and us'. People are no longer bound by territorial restrictions-unless of course, there are security issues. The businesses are expanding, the horizons are widening, and the people are coming together to form one homogeneous unit – HUMANITY.This is known as globalization. This was the biggest spark that helped brands become universal citizens The global playing field was being levelled with globalization and the arrival of the Internet. Country borders were no longer relevant. Individuals from different corners of the world could work together to create products and services for customers anywhere in the world. Many Japanese companies’ electronic giants have R&D facility in Silicon Valley and U.S electronics design centres in Japan. A liberalized policy has created a tunnel or superhighways that facilitated trade and hence facilitated building of global brands. For e.g. With the liberalization of policies in countries like India, Sectors like telecommunication, information technology, banking, insurance went for a major overhaul overnight and the stock market started wearing a different altogether with newer and better investment avenues opening up. If it was not for the telecom revolution brought up by Liberalized policies in 1991 it would have been very difficult for Nokia to achieve the paramount status it has achieved today in Indian . Same theory is applicable to the automobile industry as well. Who could have thought of seeing a Jaguar or a Land Rover on Indian roads 30 years back?
- Nitika A borderless brand also faces borderless challenges <hehehehehhe> Today the basic challenge of trading, or engaging in any other global business activity, is the same – linking products to customers. Where Can companies find the best products in the world? How can the right products are delivered to customers at the right Time and at the right price? What are the best routes through this world? But the paths through this world are affected by the trade environment. For example global giants like Tesco, Carrefour are having a tough time in entering Indian retail sectors because of FDI policies. According to a survey on an average a person sees 600 brands a day . In India with more than 40,000 newspapers, 1400 television channels and mammoth number of websites are present and invention of remote control and Wi-FI switching between different media channels is becoming easier and same stands true for different countries. So communication of being heard is rising out as a challenge. Company policies are not aligned with countries operating protocol. Black berry controversy in India , U.A.E and Google’s exodus from china are few examples where companies took the flak. Negative publicity also deteriorates the brand equity of global brands like Association of tiger woods’ with Accenture and partnership with Woods and Henry has led to a rash of negative publicity after they were both embroiled in scandal and controversy last year. People do not like corporate greed and by advancement of interactive platforms like twitter and negative publicity spreads faster than a fire. Counterfeit products also give tough time to global brands. Microsoft taking the beating of Piracy across the globe. Market is flooded with copy cats of Apple Products. Fake Gucci’s and Rolex. But one thing is for sure you can copy a brand but cannot copy the experience. As the saying goes “You could take the boy out of the Brooklyn, but you could not take Brooklyn out of the boy”. Problems are directions and every unsolved problem is an opportunity. “With great power come great responsibilities “-quotation enjoying cult status among the fans of Spiderman (which again is an classic example of borderless brand) stands true for these giants .In the current scenario borderless brands work assiduously across the borders to preserve their legacy and follow their never ending pursuit to excellence. IMC,Ask Dr.Sharma Change the language word not striking mind