All choices made by consumers, and the resultant transactions, are driven by perceived Value, where Value is (Perceived) benefits divided by price. Strategies focused on altering value through pricing are about commoditisation, where products from one source can be easily substituted by another.
Consulting firms with their roots in the accounting profession have traditionally used cost reduction processes to enable their clients greater manoeuvrability in the area of pricing. Branding, on the other hand, is about enhancing sustainable benefits – rational, sensory and emotional- to enhance perceived value, and thereby minimise the chances of substitution. Embrand utilises the concept of Brand Identity to understand the value creation process through the six facets of a brand’s identity:
• Culture, Personality, Self Image, Relationship, Reflected Image, Physique and Relationship.
This is a holistic approach that impacts all business processes of a client for the long term, and therefore requires involvement of client personnel with the holistic overview, and authority, to ensure thorough implementation of recommendations. Embrand, on its part, brings to bear equally senior personnel, with sufficient depth and width of business experience to understand the sensitive nature and criticality of changes that are often called for. Case in point - VLCC, which empowered Embrand’s founder-director as a de- facto CEO of its first overseas venture at a critical stage, until financial success of Embrand’s recommendations was demonstrated.