Since the time I have been transferred to Raipur, I am literally trying to understand one thing that how and why some product is not doing well in other part of the country is doing extremely well here in Chattisgadh? In search of the answer of this, I am trying to spend more time with the trade to understand the evolution of product to brand.
Products basically can be differentiated into two category :-
1. Product for Mass
2. Product for Niche.
If the product is for mass, it is definitely the Rural Market of the Country which makes it brand. This is for the simple reasons that still more than half the customers and consumers are residing in the rural part of all the developing countries.
While trying to understand what influence customer to buy and use any particular product, I really have lost all my little knowledge. Even people cannot be able to explain the fact why they are using any particular product. They are really not very much aware of the attributes of the product. At least in the market where I worked this holds true. It is only a habit which leads them to buy any particular product and make it a brand and then a big brand. But how does this habit towards any product develops? In the market where I worked had given me a very unique answer to this. It is not heavy marketing support, not the great multiple attributes of the product, not the multiple utility of the product, not even the heavy media spend influence the buying of the product by the customers. It is only and only a right price point product available in right place at right time for right period or band of time decides the movement of product from the shelf of the stores to the house of the customers. And with its continuous availability at the stores first takes the “Share of Shelf” of the store to “Share of Spending” of the customers to the “Share of Mind” of the consumers. This at the end, over a period of time makes any product a big brand. And if one need to break the existing line of Share of Mind of the existing product, will have to play very skillfully. This would happen if one could be able to take the same path of Share of Shelf to Share of Spending to the Share of Mind of the market and the customers & consumers. Means will have to wait for the exact time to make a right move into the market to take a competitive advantage over the competitor product. Or else to create a situation where the stock weight of the competitor product gets thinner and that of new product improves.
Though the market experience for establishment of the product into the brand looks very easy but it takes not less than 2 – 3 years to make any product a brand and not less than 5 – 6 years to displace any existing brand which actually have became brand in shorter span of time. Perhaps for any brand longer than 10 years of brand span, it takes more time to displace it.
These findings would be premature but I am still in the process of learning and understanding things better.
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