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The Psychology of Brand Perception: Shaping the Right Image for Success

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brand perception

When we think about our favorite brands, what comes to mind? Is it the products they offer, the logos they sport, or is it something deeper—a feeling, a story, a sense of belonging? Brand perception, the way consumers view and interact with a brand, is a multi-layered concept that delves into the intricate workings of human psychology.

So, let’s explore the intriguing realm of brand perception, the underlying psychology, and how organizations may create the ideal image for long-term success.

1. The Power of First Impressions

First impressions are vital in both personal interactions and brand perception. Research has shown that it takes only 50 milliseconds for users to form an opinion about a website, and the same principle applies to brands. Consumers often make split-second judgments about a brand based on its visual elements, such as logos, colors, and website design. It’s crucial for businesses to ensure these elements convey the right message and align with their target audience’s expectations.

2. Emotional Branding

People connect with brands on an emotional level. Emotions play a significant role in brand perception, and businesses can leverage this by creating authentic and relatable brand stories. A compelling narrative that taps into human emotions can create a strong bond between a brand and its customers. When people resonate with a brand’s values and story, it can lead to brand loyalty and advocacy.

3. Brand Trust and Credibility

Building trust and credibility is essential for positive brand perception. Consumers are naturally drawn to brands they perceive as reliable and authentic. This perception is developed through consistent product quality, transparent business practices, and ethical values. Brands must deliver on their promises to foster trust and maintain a positive reputation.

4. Cognitive Dissonance and Brand Loyalty

Cognitive dissonance occurs when consumers experience a misalignment between their beliefs and actions. Brands can use this psychological phenomenon to their advantage. For example, loyalty programs and customer rewards can create a sense of commitment and reduce cognitive dissonance. Customers may continue to support a brand because it aligns with their self-image, and this loyalty can overcome discrepancies in brand actions or values.

5. Perceived Quality and Pricing

Perceived quality plays a crucial role in brand perception, influencing purchasing decisions. A brand that is perceived as offering high quality can charge premium prices. On the other hand, consumers may perceive lower-priced products as lower quality. Striking the right balance between quality and price is essential for shaping a brand’s image and market positioning.

6. The Role of Social Proof

Consumers often rely on social proof as a psychological shortcut to make decisions. Brands that showcase customer reviews, endorsements, and social media engagement can benefit from the positive opinions of others. This social validation can reinforce brand perception and create a sense of safety for potential customers.

7. Consistency in Branding

Consistency in branding is a psychological anchor for consumers. It helps create a familiar and dependable image. Brands that maintain a consistent tone, messaging, and visual identity across all touchpoints (online, offline, and in marketing campaigns) are more likely to establish a clear and memorable brand perception.

8. The Element of Surprise

Surprise and delight are potent tools for shaping brand perception. Brands that go above and beyond in delivering unexpected positive experiences can leave a lasting impression. This can lead to customer loyalty, word-of-mouth marketing, and a positive reputation.

The brand perception is a complex interplay of psychology, emotions, and cognitive processes. Understanding the psychology behind brand perception enables businesses to craft the right image for success. It’s about creating a consistent, emotional, and trustworthy brand that resonates with its target audience. By tapping into these psychological elements, brands can cultivate enduring relationships with their customers and pave the way for long-term success in the competitive world of business.

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Gordon Ramsay launches his first steak restaurant in Louisiana

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Gordon Ramsay Steak restaurant
Gordon Ramsay Steak restaurant

British chef and television personality Gordon Ramsay is set to open his first Gordon Ramsay Steak restaurant in the US state of Louisiana.

Situated at the Horseshoe Lake Charles Hotel, the restaurant will have the ability to host over 200 guests. It will showcase a full bar offering visually appealing cocktails and an extensive wine selection. Starting next month, the restaurant will be open for business.

Reservations can be made by guests using OpenTable.

Ramsay said, “I’m honoured to open a Gordon Ramsay Steak at the brand-new Horseshoe Lake Charles.

“My continued partnership with Caesars Entertainment has provided many exciting opportunities and I’m thrilled to introduce Louisiana to Gordon Ramsay Steak and bring world-class dishes and impeccable service to our guests.”

The upcoming steakhouse will present a diverse menu to patrons, featuring options such as Louisiana Blue Crab Cake, dry-aged prime beef, American and Japanese Wagyu, chops, and crispy skin salmon.

Diners will have the opportunity to savor Ramsay’s iconic Beef Wellington, expertly cooked to medium rare perfection and accompanied by glazed root vegetables, potato purée, and a red wine demi-glace. For a sweet finish, they can indulge in the signature sticky toffee pudding dessert.

Horseshoe Lake Charles senior vice-president and general manager Russell Deaver said, “Gordon Ramsay is one of the most decorated chefs in the world and we couldn’t be happier to welcome his culinary vision to Lake Charles.

“The addition of Gordon Ramsay Steak will only strengthen the amenities our visitors can experience with us here at Horseshoe.”

In May of this year, Gordon Ramsay announced the establishment of two new restaurants at The ROW in Reno, Nevada.

The two dining establishments, Ramsay’s Kitchen and Gordon Ramsay Fish & Chips, are scheduled to open later this year within the Silver Legacy Resort Casino.

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Domino’s appoints Sam Jackson as new Executive Vice President of HR

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Sam Jackson
Sam Jackson

Domino’s Pizza Inc, the largest pizza company in the world, has appointed Sam Jackson as its Executive Vice President of Human Resources. Effective November 4, he will report directly to Chief Executive Officer Russell Weiner.

In 2018, Jackson became part of the Domino’s team as the Vice President of Human Resources, where he played a pivotal role in formulating and executing talent strategies for the company. In this capacity, he spearheaded the Human Resource Business Partners’ teams and took charge of the company’s initiatives related to the pandemic and the future of work.

His most recent role was as the Vice President for the Office of the CEO, a position he has maintained since April 2022.

“Sam’s many years of global experience in human resources across organizations and roles, as well as his understanding of our company, our business priorities and strategies, make him uniquely qualified to fill this role,” Weiner said.

Before joining Domino’s, Jackson dedicated nearly 12 years to Target, where he occupied diverse positions encompassing real estate, supply chain, store design, and human resources. This journey also included a significant responsibility of overseeing human resources for Target’s headquarters in India.

Jackson possesses a Bachelor of Arts in international studies from Brigham Young University, in addition to a Juris Doctorate from Hamline School of Law, with a specialization in dispute resolution and employment/labor law.

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Minister Nitin Gadkari inaugurates CaratLane’s second Nagpur store

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CaratLane

CaratLane – a Tanishq Partnership has unveiled its second store in the bustling city of Nagpur. As India’s pioneering omnichannel jewelry brand, CaratLane was founded in 2008 by the visionary duo of Mithun Sacheti and Srinivasa Gopalan.

With a strategic investment from Titan Company, CaratLane has entered into a partnership with India’s largest retail jeweller, Tanishq. Known for its signature jewelry-buying experience across all platforms, CaratLane has solidified its presence in the market.

In addition to the website, which stands as India’s foremost online jewelry destination, CaratLane’s network of over 240 stores throughout the country offers a seamless jewelry buying experience.

The newest store was inaugurated by customers and the Hon’ble Minister of Road Transport and Highways of India, Shri Nitin Gadkari. To mark this special occasion, a traditional coal-breaking ceremony was held at the store’s location, signifying the birth of the new store and the prosperous times that await.

Mr. Avnish Anand, Chief Executive Officer at CaratLane, added, “We are delighted to inaugurate our new store in Pratap Nagar, Nagpur and increase our foothold to 58 stores in the West region.”

“With every new store, we are enabling more and more consumers in a catchment to browse and discover jewellery designs they like and try the designs in a store near them using features like Try At Home and Find In Store”, he added.

This location has consistently attracted a strong customer base for the brand, making it the perfect choice for this store. The brand is committed to offering trial opportunities for its products in every area with significant customer interest, and this store will cater to the requirements of one such thriving catchment.

Mr. Atul Sinha, Chief Operation Officer at CaratLane, said, “Seeing the overwhelming response at our first store and the growing interest from customers in the pin codes near Pratap Nagar, we felt the need to expand. As the festive season approached, it seemed like the perfect time to open our new store.”

“Having Shri Nitin Gadkari and our wonderful customers inaugurate this new store together is a true honour. It’s a testament to the amazing support we receive from our community and our excitement to serve them better”, he added.

Customers will have the opportunity to explore and experiment with designs from CaratLane’s renowned collections, including Butterfly, Ombre, Adaa, and the exclusive Harry Potter x CaratLane collaboration. Additionally, they can discover the latest collection, Alpona, which takes inspiration from the enchanting traditional Bengali art style and features eight distinct motifs crafted with a modern aesthetic.

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Poshmark pulls out of India, UK, and Australia: Social shopping platform shifts focus to North America

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Poshmark
Poshmark (Representative Image)

Poshmark, the American social shopping platform, is discontinuing its services in India. Starting from November 2, 2023, Indian users will no longer be able to access their accounts, marking the end of its almost two-year presence in the country.

In addition to India, Poshmark is also discontinuing its operations in the United Kingdom and Australia.

The company explained in its FAQ that it is withdrawing from India to redirect its focus towards its North American operations.

“In order to focus on Poshmark’s North America business and drive meaningful growth in its core markets of the United States and Canada, the company has made the difficult decision to close the Poshmark marketplace in Australia, India, and the UK,” the website read.

The website also conveyed that, starting from November 1, 2023, both buyers and sellers from India, Australia, and the UK will no longer be able to access the marketplace through the app or website. Poshmark, as stated on the website, will continue to handle return requests for orders placed before October 26, 2023.

Poshmark enables its users to engage in transactions involving fashion, home decor, and beauty products. Nevertheless, the startup has experienced a gradual decline in its user numbers. According to data from Sensor Tower, Poshmark’s global presence has dwindled to less than 50,000 users in India, the UK, and Australia.

The development comes after nearly a year of Naver, a South Korean giant, acquiring Poshmark at a reduced valuation of $1.2 billion. Poshmark had once been valued at $7.3 billion.

“I know this is especially hard news for those of you across the globe who have come to know and love Poshmark—please know that I’m incredibly grateful for you and for the community that we’ve built together. We hope to be back at some point in the future,” wrote Manish Chandra, Co-Founder and chief executive of Poshmark, in a blog post.

Poshmark now joins the ranks of major companies exiting the Indian market. Just last year, Singapore’s e-commerce giant, Shopee, ceased its operations in March 2022, a mere five months after its launch. Shopee’s decision to wind down its operations coincided with India’s ban on Free Fire, a game operated by Shopee’s parent company, Sea Ltd.

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Rahul Gandhi tries his hand at dosa-making in poll-bound Telangana

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Rahul Gandhi
Rahul Gandhi

On Friday, Rahul Gandhi, the former chief and prominent figure of the Congress party, ventured into the world of culinary arts as he attempted to prepare a dosa at a street food stall in Telangana’s Jagtial district. A video shared by the news agency ANI captured the moment when he skillfully ladled the dosa batter onto the pan and expertly spread it with a bowl, demonstrating his proficiency akin to that of a seasoned chef. The shop’s owner was on hand to offer guidance and support to the Congress leader throughout the process.

While on his ‘Vijayabheri Yatra’, Rahul Gandhi made a brief stop at the Nukapally bus stand and engaged in a conversation with a street vendor who was preparing dosas.

He inquired about the dosa-making technique and even attempted to prepare one, which greatly surprised the local residents. The Member of Parliament also inquired about the dosa vendor’s earnings and the challenges he encountered. Furthermore, the Congress leader engaged in conversations with people passing by and shared chocolates with the children.

Rahul Gandhi continues his campaign in Telangana for the third consecutive day. Following an overnight stay in Karimnagar, he departed for Jagtial on Friday morning. He is scheduled to visit Armoor district as part of the bus yatra before heading back to Delhi.

The elections for the 119-member Telangana Assembly are set to take place on November 30th.

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Udaan likely to secure downround funding, valuation expected to dip below $2 Billion

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Udaan
Udaan (Representative Image)

Udaan, the B2B ecommerce giant, which has been grappling with fundraising difficulties for some time now, might finally see a ray of hope.

A Bengaluru-based unicorn is currently engaged in discussions with M&G Prudential, a UK-based savings and investment company, about potentially spearheading an equity funding round, as reported by ET.

The upcoming funding round, expected to range from $100 million to $150 million, is likely to result in a reduction of Udaan’s valuation to under $2 billion, down from its previous peak valuation of $3.2 billion. If the round does indeed conclude with a $2 billion valuation, it would represent a 37% decrease in valuation.

Currently, M&G is in the process of conducting due diligence, and there is a likelihood of new investors joining the startup’s shareholder table in the upcoming days.

Last year, M&G had extended its support to Udaan through the issuance of convertible notes.

In January of last year, Udaan successfully obtained $200 million in debt financing through the issuance of convertible notes to five new investors, including Tor Investment, Arena Investors, and M&G Investments.

The report further mentioned that all of these investors, including M&G Investments, are poised to convert the debt into equity as part of the current ongoing funding round.

The potential funding round coincides with the startup’s significant overhaul of its top leadership and operational structure. In September of this year, the company merged its Essentials business, encompassing FMCG, staples, and pharma categories, with the Discretionary business, which encompasses general merchandise, lifestyle, and electronics categories.

In the process of combining these two divisions, Vivek Gupta, who previously headed the Essentials business, stepped down from his position while retaining an advisory role with Udaan’s board.

During the fiscal year 2023, the B2B ecommerce unicorn witnessed a 43% reduction in its operating revenue, which decreased from INR 9,897.3 Cr in the preceding year to INR 5,609 Cr.

In FY23, the startup implemented a workforce reduction strategy, letting go of approximately 350 employees in a bid to reduce costs. Nonetheless, certain media reports speculate that the total number of layoffs could have reached as high as 1,000.

Established in 2016 by Gupta, Sujeet Kumar, and Amod Malviya, Udaan specializes in facilitating supply chain and logistics operations geared toward B2B commerce. The platform boasts the capability to facilitate daily deliveries spanning more than 1,000 cities and encompassing 12,500 pin codes via udaanExpress.

Up to this point, Udaan has secured $1.8 billion in funding and boasts prominent supporters, including Lightspeed, Microsoft, Tencent, and others. It engages in direct competition with companies like Dealshare.

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EatSure partners with IRCTC to offer food delivery at 100+ railway stations across India

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EatSure
EatSure (Representative Image)

EatSure is revolutionizing the dining experience during train journeys by introducing a new feature on its app. Customers can now conveniently order food from a variety of restaurants and have it delivered to their seats using their PNR numbers while traveling on the Indian Railway Network.

The food ordering functionality will be accessible at over 100 railway stations spanning more than 75 cities, encompassing major urban centers such as Hyderabad, New Delhi-NCR, Jaipur, Kolkata, Mumbai, Bangalore, Nashik, Vizag, Faridabad, Vijayawada, Mangalore, Kanpur, Lucknow, Ahmedabad, Pune, Chennai, Tirupati, Mysore, and many others.

This unique partnership marks a significant milestone for EatSure, well-known for its innovative foodcourt-on-an-app concept. It positions EatSure as the pioneering foodtech platform to collaborate with IRCTC, aiming to revolutionize the dining experience for train passengers. Through EatSure, travelers will have the convenience of ordering from multiple food brands in a single order, eliminating the need to make difficult choices about their meals while on the go.

“We are truly honoured and humbled to embark on this proud partnership with IRCTC, expanding our reach to serve an even larger number of passengers across 100 railway stations through the EatSure app. Over the past four years, we have diligently worked alongside IRCTC, emerging as a leading partner in the e-catering category. Initially, we were fulfilling orders received from the IRCTC app and website independently,” shared Sagar Kochhar, Co-Founder, Rebel Foods.

With a vast user base of more than 75 million active travelers, IRCTC is poised to provide its passengers with a selection of renowned brands, which will include Behrouz Biryani, Faasos, Oven Story Pizza, Sweet Truth, LunchBox, The Good Bowl, and several others. Utilizing the EatSure app, these travelers can conveniently order their preferred dishes from a variety of brands to match their mood or the occasion during their train journey, with the added convenience of direct delivery to their seats.

Apart from its lineup of brands, EatSure remains dedicated to catering to both individual and group travelers. Furthermore, the company is committed to elevating the passenger experience by introducing special offerings for festivals and celebrations. This includes the provision of unique vegetarian and Satvik thalis during occasions like Shravan and Navratri, the delivery of cakes for birthdays, anniversaries, and other similar events, ensuring a memorable experience for travelers.

Passengers can enjoy the convenience of placing orders in advance or just one hour before their upcoming station using their PNR numbers. This is made possible through a range of features such as real-time order tracking, multi-brand ordering, and customer support. To ensure smooth integration with IRCTC, EatSure riders possess valid passes issued by IRCTC zonal offices, facilitating seamless commercial operations at the stations and enabling timely delivery of orders upon the train’s arrival.

“Our vision is not only to enhance the entire travel experience but also to address the longstanding challenges of food ordering during long-distance train journeys. Currently, while serving passengers on trains via the IRCTC app, we have garnered immense customer appreciation and love across every corner of India. This strong customer support fuels our confidence in the potential of our partnership, and we remain committed to constantly exploring innovative ways to serve our customers with extraordinary experiences” he added.

In 2020, Rebel Foods, the world’s largest internet restaurant company, introduced EatSure with the goal of addressing customer challenges when ordering food. This app has achieved over 10 million downloads and boasts an impressive rating of 4.3+. Offering distinct features like the delivery of multiple restaurant options in a single order, free deliveries, and a variety of dishes, EatSure has revitalized the food ordering experience. The app follows the ‘Foodcourt on an App’ philosophy and is presently catering to customers in more than 80 cities across India.

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Starbucks set to delight coffee lovers with second location in Faridabad

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starbucks
Starbucks (Representative Image)

Starbucks, the renowned American coffee shop chain, is preparing to launch its second establishment in the city of Faridabad. This new store will be located within the recently inaugurated shopping center, The Mall of Faridabad, situated in NIT, Faridabad, Haryana.

A store bearing the Starbucks brand on the ground floor of the mall is presently undergoing fit-out work. Starbucks made its debut in Faridabad earlier this year in March, when it inaugurated a store in another newly established shopping center, Pebble Downtown Mall.

The company is now poised to unveil its most recent store within the recently inaugurated Mall of Faridabad. The Mall of Faridabad welcomed its first visitors on Monday.

Starbucks made its debut in India through a partnership with the Tata Group. The very first Starbucks store in India was inaugurated on October 19, 2012, at the Elphinstone Building, Horniman Circle, Mumbai.

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HUL Q2 earnings soar 4% to INR 2,717 Crore, dividend set at INR 18 per share

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Hindustan Unilever
Hindustan Unilever (Representative Image)

Hindustan Unilever Ltd (HUL), a leading company in the fast-moving consumer goods (FMCG) industry, has announced a 4% increase in its independent net profit, reaching INR 2,717 crore for the quarter concluding in September 2023, compared to INR 2,616 crore in the corresponding quarter of the previous year.

In the reporting period, the company experienced a 4% year-on-year (YoY) increase in its sales, reaching INR 15,027 crore.

The board has announced an interim dividend of INR 18 per equity share for the fiscal year ending in 2024, with the record date for this dividend scheduled for November 2.

The underlying volume growth for the September quarter was 2%, falling short of analysts’ anticipated 3%.

The EBITDA for the quarter reached 3,694 crore, with margins at 24.18%, surpassing the estimated figures of INR 3,609 crore and 23.5%, respectively.

Breaking it down by segments, the home care business saw a 3% increase, driven by mid-single-digit volume growth. Within this sector, fabric wash experienced mid-single-digit volume growth, and the premium portfolio continued to deliver strong results. Household care volumes grew in the high single digits, primarily due to the performance of the dishwasher segment.

In the second quarter, the beauty and personal care business achieved a 4% growth, primarily driven by mid-single-digit volume growth. Skin cleansing, on the other hand, experienced low-single-digit volume growth, with Lux and Hamam brands consistently delivering strong results.

Revenue decreased due to additional price reductions in the soap segment. However, there was double-digit growth in skin care and color cosmetics, attributed to strategic efforts in exploring new demand areas and future channels.

Hair care registered robust high-single digit growth, with Clinic Plus and Indulekha brands maintaining their strong performance.

“We delivered resilient and competitive growth whilst stepping up our EBITDA margin in a challenging operating environment, marked by subdued rural demand and heightened competitive intensity,” said Rohit Jawa, CEO and MD, HUL.

Within the foods and refreshment business, which expanded by 4%, the tea segment experienced moderate growth as consumers continued to opt for lower-priced options. In contrast, the coffee segment saw a double-digit increase.

Looking ahead, HUL expressed a cautious optimism, expecting a gradual recovery in FMCG demand. This positive outlook is bolstered by the approaching festive season, sustained strength in services, and the government’s emphasis on capital expenditure.

“At the same time, we need to be watchful of volatile global commodity prices as well as the impact of monsoon on crop output and reservoir levels,” the FMCG major added.

On Thursday, HUL shares closed flat at INR 2,550 on NSE.

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