CEO’s Secret Weapon: The Chinese Strategy for Brand Building
Once upon a time in China, there was a farmer who planted a tiny bamboo seed. Every day, he would water and nurture the seed, but despite all his efforts, nothing seemed to happen for the first year. The second year passed, and still, there was no sign of growth. The farmer continued to care for the seed, watering it and providing it with sunlight and nutrients, but there was no visible progress.
The third year and the fourth year passed, and still, there was no sign of growth. Yet, the farmer persisted. He kept watering the seed every day, even though it seemed like nothing was happening.
And then, something incredible occurred.
In the fifth year, the bamboo tree suddenly shot up from the ground, growing over 80 feet tall in just a few weeks!
Think over! Why did it take five years for the bamboo tree to grow so rapidly? The answer lies beneath the surface. While it may have seemed like nothing was happening during those first few years, the bamboo tree was actually developing a strong and extensive root system underground. It was building a foundation that would eventually support its rapid growth.
Year 1 – No visible growth above surface; but below, roots, the foundation is getting strong
Year 2 – No visible growth above surface; but below, roots, the foundation is getting stronger.
Year 3 – No visible growth above surface; but below, a robust root system is getting built to support the bamboo tree when it grows eighty feet.
Year 4 – The bamboo tree is growing both ways: Growth above the surface does not seem to be satisfactory, but below, the root system is getting sturdier.
Year 5 – The Chinese bamboo tree is ready for a sudden spurt
Now, let’s draw a parallel between the growth of a Chinese bamboo tree and the growth of a brand:
1. Patience and Persistence: Just like the farmer who patiently nurtured the bamboo seed for years without seeing any visible results, building a successful brand requires a brand manager to be patient and persistent. It takes time to establish a brand identity, gain recognition, and build a loyal prescriber base. Consistent effort and dedication are key.
2. Investment in the Foundation: In the case of the bamboo tree, the years of apparent dormancy were actually spent building a strong root system. Similarly, when building a brand, it’s essential it’s essential for a brand manager to invest in the foundational elements such as market research, product development, and patient-centred marketing and more. These foundational efforts may not yield immediate results, but they are crucial for long-term success.
3. Sudden Growth: Just as the bamboo tree experienced rapid growth once its root system was established, a brand can experience sudden growth or success after years of groundwork. This growth phase can be exhilarating, but it’s important to remain grounded and continue nurturing the brand to ensure sustainable growth.
Our farmer used composted horse manure, high nitrogen grass fertilizer. He considered a balanced NPK (Nitrogen, Phosphorus, and Potassium) ratio. Nitrogen promotes leaf growth, phosphorus aids in root development, and potassium enhances overall plant vigor. However the farmer exercised caution when it came to nitrogen. He was aware that over-fertilizing with a high nitrogen type fertilizer like urea can burn the bamboo and cause the leaves to drop off. So also lop sided investment in branding can be a deterrent to build an eternal brand.
4. Resilience: Bamboo is known for its resilience and ability to withstand adverse conditions. Similarly, successful brands must be adaptable and resilient in the face of challenges and setbacks. They should be able to weather storms and emerge stronger on the other side.
The Indian pharmaceutical industry is a complex one, and several factors can hinder your brand’s ability to become resilient. Just consider these factors! Price pressure, extensive competition, the regulatory environment, frequent policy changes, and limited F&D and R&D investment, API from China counterfeit drugs, unethical practices, and more.
How will you make your brand resilient? Ensuring the resilience of your brand entails a strategic approach incorporating innovation, good branding and marketing practices, dedicated patient-centered initiatives, and periodic brand audits to gauge progress. Additionally, prioritizing investment in learning and development (L&D) activities for both medical representatives and front-line sales managers will fortify the brand’s adaptability and competitiveness.
In essence, the story of the Chinese bamboo tree teaches us valuable lessons about perseverance, patience, and the importance of laying a strong foundation for growth and resilience, which are relevant to building a successful, eternal brand.