|Branding in renewable energy sources|
Branding has a vital role to play in the renewable energy sector as well.
Increased competition in the renewable resources market makes it critical for companies to develop a Unique Selling Proposition; chiefly to attract and retain customers as is the case with consumer goods manufacturing companies.
Various facets need to be considered to create brand visibility - the target audience, product line, role of the organization and plans for the future. It is the brand which is the most precious asset of the company and can be viewed as a tool that creates familiarity and develops a sense of loyalty in the consumers.
Suzlon, for example, is among the top five companies in the wind energy segment and aims at becoming the most respected brand for its stakeholders, potential partners and prospective consumers. The symbols, the logotype, the corporate font and the colors stimulate corporate identity and also the company’s vision of a ‘greener tomorrow’. In addition a company like Schlumberger, which is a big giant in oil and gas industry, presents its brand as a commitment to deliver best performance anytime, anywhere.
Branding has become a vital strategy for any organization’s success. It’s about making a difference in the market and can encompass pricing, novelty, catchy logos, recall value and marketing campaigns.