Brand of the Year 2016
Date: Monday , January 02, 2017
Everyone is looking for that sweet spot where an unfilled need or desire leaves consumers primed to buy as soon as a good option presents itself. But identifying your niche isn\'t enough. So often in life, going against the grain has a negative connotation to it. Thoughts like \"What if I fail?\" or \"That\'s not what our competition is doing\" can deter companies from venturing outside of their \'that\'s-what-we\'ve-always-done\' comfort zone. But being different is vital for value growth as it helps to make brands creative, in control, and trustworthy in the eyes of consumers.
A strong brand can create referrals or viral traffic because people love to tell others about the brands they like. People eat, listen and wear brands, and they are constantly telling others about the ones they love. In fact, 84 percent of consumers have said that they \'always or sometimes\' take action based on personal recommendations.
In a nutshell, a brand is the way in which your customer perceives you. This includes everything they think they know about your brand- both factual info, such as the bright yellow packaging, and emotional info, for example, it\'s luxurious. A good brand won\'t manifest overnight, it is a result of a meticulous planning and development, which is why, companies, mostly start-ups and small businesses employ diverse marketing strategies to add value to business, well beyond physical assets.
For 2016\'s \'Brand of the Year\' issue, we have listed those organizations that have mastered the art of branding and proved their brand value to the world. Scrutinized by a distinguished panel of industry\'s topmost CEOs, CIOs, VCs and analysts, as well as siliconindia\'s editorial board, most of the organizations we have chosen here are the ruler of their realms that need no introduction. Besides such resilient brands that withstood the test of time with a successful track record, we have also included the rising brands that have enthralled their target customers\' minds by blazing a trial for their industry to follow them. We hope that this will educate aspiring business magnates to choose the right path and consumers about the right brand to rely on.