The logo defined
A logo (or logotype) is a design or symbol used by an organization to identify its products, programs, corporate identity and so on. The graphical mark called logo helps identify a company, product, brand, or organization. A logo may be a wordmark or shape or combination…it is used to help impress target audiences, create a memory hook, build trust, strengthen brand registration and recall, provoke purchase-pull, and adds to the intangible assets of a company. A logo is part of the overall branding process and the brand itself.
A logo is responsible for recognition and trust building, when appropriately used in marketing communication. TV channels have standardized logos to help viewers locate and stay on with the broadcast content. Logos of TV channels build up a reputation for standing up to certain values and offerings. Egs.,: the logo of MTV stands for English music and is youth-centric nature. CNN stands for accurate and stylish newscast. Recognition through logos makes a customer or prospect comfortable with the offered product or service.
Logo marketing for differentiation
Logos can go a long way in creating differentiation, trust and market-pull. The best logo example is the green dot for vegetarian food packs and red dot for non-vegetarian food packs. This has helped customers make their choice. Similarly, ISI is a special mark indicating the acceptable and approved quality of a product. The logo concept builds identity, trust, and reputation, and has helped in consumption of products.
The marketing of products with logos that stand for a certain assurance of quality or function helps in strengthening customer choice towards the marketed brand. A logo is a graphical representation of a brand promise. The successful marketing of a product is boosted by a recognized and trust-inspiring logo.
A new market segment and a new logo based system of marketing
Pharma companies have to make the inevitable choice to offer lower priced branded generics (these can be through umbrella branding or individual product branding), given the push for such products by Governmental policy makers. There is sufficient evidence that an ecosystem for ‘lower priced branded generics or unbranded generics’ is being encouraged by the Govt. of India. Hence, it is essential to wise up to this new market trend. To enable brands, in this new market segment, gain recognition and trust at patient level, uniform brand colours, fonts and brand presentation needs to be done. Along with this, the development of a logo will go a long way to sustain repeat purchases by customers and attract prospects towards the promoted branded or unbranded generic range of a company.
If the government is serious on building a “low cost generic (branded or unbranded) market” it can also launch a logo similar to ISI and encourage pharmaceutical suppliers to use this logo on their products to enhance patient/customer trust!
IT IS LOGO TIME!
The logo concept does to this new generic pharma market segment, what the MTV logo does to their TV channel. NEW MARKET CHANNEL … NEW LOGO!!
One interesting logo concept used by Bangalore based Group Pharmaceuticals:
The above is a logo for assurance of quality and reinforces brand identity of the dental range from this company.
The following are interesting newspaper article foto posts on the raging generic medicines issue, a logo concept will certainly help differentiate low cost branded or unbranded generic medicine offerings by various companies (including Jan Aushadhi) for ensuring quality, trust, purchase-pull, and building reputation.
The first one is from Deccan Herald, page no. 11, second and third ones are from Business Standard, 4.5.17, page no. 12
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