Given this situation, business survival
leave alone growth and profitability, is
no longer guaranteed if one does not
offer a distinctive product and spend
resources on marketing it. This is what
the discipline of branding brings to the
party. A tool marketers can leverage to
assist them distinguish their products in
the market place as this task falls squarely
in their in tray.
The question then is; what are the
characteristics of a strong brand and how
did the late Bob Collymore exhibit them?
A strong brand is characterised by high
awareness (Bob was well known even to
non - Safaricom subscribers), high usage
and high loyalty.
They have a clear promise and the buyer
knows what to expect when they buy it.
Strong brands also live long outliving
their founders. For example Coca Cola as
a company was founded in 1892. When
they make mistakes consumers find it
easier to forgive them rather than switch
to competition.
These characteristics accord the brand
certain advantages that give the marketer
a reason to spend resources building
and maintaining brands. They also have
advantages to the consumer as well. Let’s
start with the brand owner.
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Strong brands care and use their power and
influence to find solutions to challenges fac-
ing the larger society therefore impacting
many lives positively. Those he engaged
with from the high and mighty to the com-
mon mwananchi said he was genuine. That’s
what strong brands are… anchored on au-
thenticity!
Strong brand and the brand
owner
Firstly they have leverage with their
business partners and many therefore
negotiate business terms that favour
them. However they must be careful not
to create an image of taking advantage of
their muscle and employing arm twisting
tactics. In the long run this will work
against them.
They are also easier to sell to prospective
customers mainly due to high awareness
and a clear benefit. They are to a certain
extent insulated against price wars that
their competitors might be tempted
to start. They have what is called in
economics high price inelasticity. They can
keep their prices higher, to the extent of
the elasticity, than competition without
losing market share. This is very evident
in the telecoms industry in Kenya where
the market leader charges the highest rate
per call without affecting their bottom
line despite the competition having lower
call rates.
A combination of these factors means
that most strong brands have high share
of market and indeed most tend to be
leaders in their category.
Another advantage is the ability to attract
talent as they tend to offer better benefits.
Benefits aside most people are proud
to work for a recognised, prestigious,
and respected organisation which most
strong brands tend to be. Attracting and
retaining the best talent further gives
them a competitive advantage.