Wednesday, January 07, 2009

Iconic Brands

There are great brands and there are iconic brands. What are this iconic brands and can you try to think of some iconic brands that come to your mind?

Well here is a list of what I think is a Iconic Brand.

1. A brand that lives up to the brand promise. Is the brand promise well envisioned and documented. Do all employees have a knowledge of the brand promise.
2. A brand that generates trust. Customers don’t ask about any aspect as they are sure they will be delivered what has been promised.
3. Consumer Loyalty : There is exceptional Consumer Loyalty to the extent that customer becomes a brand champion for the brand and generates goodwill through blogs and word of mouth.
4. Unparalleled Customer Engagement : Consumers give valuable info and insights on their experience with the brand.
5. Continuous Customer Delight : Customer is delighted every time and comes back more often ( Sticky ) and buys more, recommends and up scales and cross scales.
6. Mind space Invasion and Customer Talk point : Magazines, Newspapers, Journals talk about the product giving free PR and the product becomes the talk of the globe.
7. Viral : All this gives rise to viral marketing effect and associated gains.

Some Iconic Brands and lessons they teach, which come to my mind are

1. Google : How one product can create an empire
2. Microsoft: How marketing prowess and capital are more important than innovation to marketing
3. Harry potter: A story worth told is worth a Billion
4. IPCL : How a unique concept can make a brand iconic overnight. (Entertainment marries Cricket and Diversity)

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