The Game of Technology Branding.
Hi-tech products can be an outcome of a fantastic innovative idea, superb technological breakthrough but if customers don't accept the value proposition because they don't perceive the same, it will not last long with sustainable revenue model. The technological products can be substituted very quickly as technological advancements are very rapid also these products can reach the maturity levels quickly and can become obsolete in no time. Today it is much easier for a competitor to copy your products, services and systems. Technology is becoming a commodity business, and the relatively established hi-tech companies find themselves being sucked in to the commodity trap.
In such business scenario of crowded market place no one can be sure of a position in the market or who the competitors will be. The world is getting closer by better connectivity, Internet, globalization and consolidation in technology business. These different conditions call for new ways of seizing and sustaining competitive advantage and branding is the weapon of choice in this fierce battle for survival, sustaining growth and standing out from the crowd.
Branding has been one of the most talked about subjects. Branding has evolved mainly in the fast moving consumer goods industries, where substantial profits accruing from brands have attracted a great deal of attention. Brands are now treated as strategic assets in their own right by many firms, and brand valuation is a rapidly emerging business.
A brand is the medium through which consumers identify their experiences with the product offerings of a company. Brand equity on the other hand can be called a set of intangible assets and liabilities attached to a brand name and symbol that contribute to the value offered by the products and the services under the name. The main assets of a brand...