A CRITICAL ANALYSIS OF THE BRAND MANAGEMENT OF THE TAJ GROUP

Brands never die. They are meant to live forever. However, their luster fades by the imprudent decisions of brand managers who fail to see the future unraveling.

The concept of branding is not new; many famous brands have been with us for some time. Many developed as the result of the energy and enthusiasm of the entrepreneurs behind them. As the companies grew the responsibility of maintaining the brand tended to fall to others from which the brand-management system emerged. How the brand is managed is crucial to its success and there are many advantages of the brand-management system.

Brand Management is as dynamic a subject as any. It is as dynamic in its changes, as is society itself. Brands need to change and adapt to their customers and consumers. They need to be in sync with the psyche of their target segment. Rigid brand mangers are the biggest liability to the brand.

Brand management may be described as adaptive, responding not only to the actions of competitors, final and intermediate customers, and other stakeholders, but also to its own past actions and reputation. It is a continuous endeavour in which marketers turn levers to create and s

As the Taj moves into the 21st century it will consolidate its position not only in India but also in other parts of the world moving closure to its vision. The Taj has transformed itself repeatedly over the last hundred years because it has always stayed ahead of its time. Taj will transform itself once again. This time to go beyond India to establish magnificent hotels in different parts of the world.

Brand associations can span a variety of classifications. As noted above, positive brand associations should be unique, strong, and most importantly, favourable. Unique brand associations have been classified into three major categories: attributes, benefits, and attitudes.

The most important aspect of brand awareness is the formation of information in the memory in the first place. A brand awareness memory node is necessary before any brand associations can be formed. Without an established brand node in the memory, it is impossible to build a brand image.

The brand may additionally represent a certain culture. The organisation’s culture encompasses employees’ values and assumptions, which also guide their behaviour, particularly in novel situations (Wilkins and Ouchi, 1983)4. Managers need to be attentive to their organization’s culture and its alignment with the brand’s values, since this could result in inconsistent behaviour and detrimentally affect stakeholders’ perceptions of the brand. Corporate culture can represent a source of competitive advantage (Bettencourt and Brown, 1997)5, but the culture needs to be appropriate, adaptive and attentive to the needs of all stakeholders (Kotter and Heskett, 1992)6. Managers thus need to agree on the few core corporate values that will remain unchanged, and the less central values that need to adapt to changing circumstances.

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