RateGain founder on gaining in the world market
Bengaluru, India | Red Newswire |Dec 16, 2015 Last Updated at 3:15 PM IST.
Bhanu Chopra, Founder and CEO of RateGain, talks about the nuances that need to be kept in mind in order to build a successful global brand by saying that the secret lies in the mindset of the founder, right from day one. He offers a few tips that will prove to be helpful for those who want to develop a brand in the world market. He points out seven intricacies that may seem simple, but are indeed core facts for developing a successful brand.
Firstly, he states that everything that the company does must be on a global level. Be it their products, the plan, the steps to market their products or the vision and mission of the company, everything must be done with the world as the forte, instead of constricting to certain regions. Secondly, he says that it is not important to just have a “goal” to achieve success. He says that the strategy involved is important and in order to build a successful strategy, it is sagacious to make the full team involved, as brainstorming ideas will prove to be beneficial in an indelible basis. Thirdly, he says that the ranking of the company must be equal across all countries. He says this in a foreseeing manner, because if the brand has the same position across the world, then the same marketing strategy can be made use of everywhere.
Next, he says that it is necessary to understand the customers. While customers all over the world will look for reliable and efficient products, it is not necessary that their choice of color, style and culture are the same. Hence, designing the products according to the market and also the customers’ needs is prudent. While understanding the customers is on one side, understanding the market is on the other side. Depending on the choice and culture of the location, the market strategy needs to be built. By researching on the region and its facilities, the foibles of the market must be grasped and then, the strategies must be constructed.
Then, the name of the brand plays a major role in making it a success. Naming the brand on a regional basis is definitely not advisory because, let’s look at the following situation. Naming a brand that sells flowers as “phool” may sound cool in Delhi, but you know the reaction that the brand would get from English speakers! *wink-wink*! Finally, Mr.Chopra concludes by saying that having business acquaintances from different regions is a canny move, as they will have deep knowledge about their areas and the steps that will be required to make the company’s product a hit in their area.
By: Ranganayaki R @Rednewswire