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PRESENTING YOUR EMOTIONS AS BRAND


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In today’s cut-throat competition, the companies are competing to establish themselves as brands. The competition has compelled the companies to create POD (Point of Difference) to achieve a unique position in the market. Since times immemorial, the market has suffered and been affected by different trends which have revolutionized the market to a great extent. From the barter system to production concept, to product concept, selling concept, and further to marketing concept followed by customer relationship marketing, market has been revolutionized from time to time. The next concept that is emerging at a rapid rate is emotional branding concept.
The concept of emotional branding refers to make an organization/company a brand by using customer’s emotions. These emotions can be triggered through sense organs and psychology. The sense of sight, hear, smell, touch and taste may affect the customer to a great extent, so much that he/she might prefer that particular product or service over his/her existing loyalty towards some other brand of that product or service. Though psychology of customers does vary, when psychology is merged with emotions of customers, it may result in a great combo for providing great profit to the companies. This merging of psychology with the emotions of the customers may contribute the organization to transform into the brand, thereby predicting the importance of emotional branding.
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There is an increasing need for emotional branding in today’s market because different companies know how to act according to the emotions of the customers. But, this “different” action needs strong strategies backed up by strong management with great execution of plans. When the companies are aware of how, when and where to use strategies to manipulate the emotions of the customers effectively, they can gain greater market share along with earning good revenues. The emotional branding is basically a sandwiched term between financial branding and custom branding. Here, financial branding refers to monetary benefits that the company gets out of its product or service, while customer branding refers to making out needs, desires and wants of customers by creating/developing a good product or service.
Not only the companies can get tangible benefits but also intangible benefits like good market value, brand value, goodwill, through emotional branding. The companies can get good customer loyalty as well as a huge number of new customers through word-of-mouth. The emotional branding has great potential for earning and retaining customers in a world where people are running and switching from one brand to another brand. If the company can get good customer loyalty, then it is very much possible that the company can establish itself as a brand and differentiate itself from other companies as well.
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With respect to India, people out here are more emotional than practical. If anything strikes with the chords of their heart, they are bound to be swayed by it easily. So, it’s beneficial for the companies specifically domestic companies who are well-versed with the demographics of the country and are also aware of the factors that can touch the emotional parts of the customers. Though emotions vary per age, gender, educational qualifications and other related factors, emotions can go a long way to bring in as well as retain customer loyalty for a particular product or service.

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