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BW Businessworld

How Can Brands Consistently Innovate And Give Value To Customers

In order to make a brand appealing to the contemporary market, it is important to think creatively by keeping the customer at the center of all approaches, which is what innovation can truly help achieve in order to advance the brand

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Over the years, brand owners have realized the importance of “following the customer” approach. This has led them to delve deeper into the hearts and minds of the customers, paving way for brands to devise newer ways and means to analyze all the relevant information pertaining to the customer. To innovate successfully, brands need to know two critical factors, firstly, understanding and evaluating their existing brand presence, and secondly, knowing who the customer is and what is it that they expect from the brand. Therefore, true value can be created by focusing on, (a) customer experience, (b) customer’s benefit, (c) the impact these experiences and benefits have and their lasting effect on the customer.


Brands today are continually striving harder than ever to remain vital, relevant and fresh in the eyes of the customers. With the ultimate aim of delivering the perceived value, brands are evolving and devising new and innovative means to engage with both their existing and potential customers in order to provide them with an unmatched experience. As customers are obtaining exposure and becoming more knowledgeable about brands and their offerings, expecting brands to deliver on their promises at par with that of the global chains, it is becoming all the more challenging yet interesting for brands to deliver ‘true value’ through all its engagement touch-points with the customers. Owing to this, while price once influenced a customer’s choice greatly is beginning to be overpowered by experiences that are truly different and valued by the people.


Innovation and especially disruptive innovation knows no bounds. As positive emotions continue to drive experiences from good to brilliant, brands need to reciprocate those live emotions and present its personality through all its activities in order to communicate with humans and make them their ‘true friends’. Therefore, apart from providing new and innovative products and services it is important for brands to continually think of novel ways to also communicate and interact with the customers. Every aspect of the brand, be it the logo, the product features, the demo’s or after sales support and so forth must focus on valuing the customer and providing them a comprehensive brand value (as well as an ‘added value’ from time to time) to earn the desired revenues and ultimately retain customer loyalty in the long-run.


In order to make a brand appealing to the contemporary market, it is important to think creatively by keeping the customer at the center of all approaches, which is what innovation can truly help achieve in order to advance the brand. Every day people are engaging in activities seeking experiences that they can narrate as their own unique story to the people around. Thereby, encouraging others to also go ahead and indulge in similar experiences. This chain reaction induced by innovation can ultimately enable and benefit brands to shine with loyalty by delivering true value to all customers and ensuring their happiness.

Disclaimer: The views expressed in the article above are those of the authors' and do not necessarily represent or reflect the views of this publishing house. Unless otherwise noted, the author is writing in his/her personal capacity. They are not intended and should not be thought to represent official ideas, attitudes, or policies of any agency or institution.


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branding

Sona Mazumdar

The author is Chief Partnership Officer at KidZania India

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