Today, The Economic Times, came up with a very interesting article on how India’s most reputed and top three technology brands have ignored branding and have suddenly woken-up to realize that their deliberate oversight could now backfire.
The insights were sighted from a study done by the publication, titled BrandFinance report on India’s Most Valuable Brands. The report says that India’s top three tech giants are now beginning to sense that they can no longer under-invest in their brands, both in terms of management bandwidth and money.
On the other hand, the report also cited example of Cognizant, a much younger brand suddenly grabbed the forth position with the help of a well thought-out marketing strategy and investment on branding. The companies choose to sow back over 20% of their annual profits in brand awareness as compared to the 10-14% invested by others.
With more and more foreign IT companies looking at India as the growth market are aggressively setting-up their own R&D and customer service center across India. They are now turning out to be as good as the Indian companies. At the same time developed markets have not remained that attractive to our Indian companies anymore. So the fight is here and winner will be the one who is more visible.
So my dear branding gurus, here’s an opportunity that can bring in change in the mindset of Indian companies to look at PR and marketing as a part of their business strategy. Good news for us.
What’s your take, I am eager to know.
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The article: http://economictimes.indiatimes.com/news/news-by-company/corporate-trends/Failure-to-build-brand-may-cost-TCS-Wipro-Infy-dear/articleshow/6832234.cms