The Game of Assumption (GOA) in Building Brands
Understanding Brands and Brand Value:
A brand is more than just a logo or tagline. It’s the sum of all experiences a customer has with a company, product, or service. It encompasses the emotions, values, and personality associated with the brand. Brand value is the intangible asset that stems from these experiences and perceptions. It reflects the customer's perceived premium compared to a generic product. A strong brand commands a loyal following, higher price points, and a competitive advantage in the market.
Creating Brand Assumptions:
The Game of Assumption (GOA) involves strategically crafting a narrative around a brand that influences how consumers perceive it. This can be achieved through:
Benefits of Creating Brand Assumptions:
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Example: The Modi Factor - BJP's "Ab Ki Baar 400 Paar" Campaign
The 2014 Indian general election is a classic example of the GOA in action. Prime Minister Narendra Modi's campaign slogan, "Ab Ki Baar 400 Paar" (This Time, Beyond 400), created the assumption of an ambitious BJP/NDA aiming for an unprecedented majority (400 seats out of 543). This strategy had a two-fold impact:
While the NDA did not achieve the assumed target of 400, they comfortably crossed the 272 mark. This demonstrates the power of GOA in shaping perceptions and influencing outcomes.
Conclusion:
The Game of Assumption is a powerful tool for brand builders. By creating strategic assumptions, brands can influence customer perception, gain a competitive edge, and build trust in the marketplace. However, it’s crucial to ensure brand actions align with the assumptions created to maintain long-term success.