http://www.yoursmartbrand.com/blueprint -FREE BRANDING BLUEPRINT
Branding - its importance and what a brand is from a marketing perspective.
Branding is paramount to any business and its success. From a marketing perspective how can a brand or branding of a product be such an integral part? Branding is the heart of your company and the path to success but not every company needs it and some will need it far more so than others. Branding suggests a way and a method to how you best please your customers and what your business means to them.
Your business needs to set itself apart from the rest, in other words your competition. If your branding is effective then you can stand out from the crowd. In any business there are several companies offering the same service but why should a customer choose your business over any of the others? Simple, you have a good branding, or at least you should have.
Branding comes in several forms. It is not simply the name of your company or the design of your logo but the way you have feedback from (hopefully) satisfied customers and testimonials. The way you advertise is part of your branding too. How are you marketing your business? These important factors tell customers who you are and what you represent. Your task when branding is to get into the customer's mindset what you are all about.
You will need to be confident and give the potential customer a feeling that you are proud of your business ethic. This installs confidence in your customer too. It is no good advertising your weaknesses or shortfalls. Remember when Gerald Ratner, owner of several branches of jewellery stores in the United Kingdom, labelled his stock as "just crap?" It was a branding disaster and one that ultimately finished off the chain as a viable business. Branding involves the promotion of your strengths and where you and your business can benefit potential customers.
Every business needs to make customers feel at home when they utilise its services or buy from its stores. If you get the branding right, then this can go a long way in creating that successful marketing strategy. When you have a successful branding of your product or service you will find your customers will pay more for your business services or products as opposed to a service that does not provide any kind of branding. Branding helps to install confidence in the customer, otherwise what else makes them buy branded products more confidently than unbranded ones?
Branding is one of the most important components of how successful your business can be and if done correctly then, the opportunities are endless. It's a fallacy to think that, the best companies in the marketplace are the wealthiest, it's the ones who use branding correctly using the right channels that, reach out to the largest and targeted audience who enjoy the most success and profits. Its a branding game.
Everything you do with your business will effect how your brand will be perceived by your future customers, so finding the right building blocks and gathering a good reputation along the way will greatly enhance your changes and will determine who successful you'll become in your niche.
What is Branding and why is it so important to build a good Brand.
Many companies have devoted millions (if not billions) of dollars to develop their individualistic brand names to the stature that they are now.
What has it taken to build the branding and brand names/vision from the CEO and founding members, untold extensive marketing strategy, years of continued focus and determination, passion, sweat, and hard work, and most importantly, a solid product that performs in the market.
The above is just but a glimpse of what it has taken companies, with strong brand names, to reach where they are.
Let us break down this 'branding' issues and see what it is, what it takes to make it, how to maintain it and increase its growth in the market.
Definition of a Brand and branding
The wording might differ as you move from state to state but the basic idea is still the same. A brand is a word, letter, symbol, design, color, phrase, or any other feature that is unique to a certain company\person.
This is what identifies the seller's goods or services and distinguishes them from other similar products in the market.
The genesis of the word goes through the years back to 1200s and the name has slowly changed to include many things. With each civilization from the 1200s, the brand has acquired new meaning and new dimension.
This is primarily what has helped it to become so important in modern business culture. The word has now become synonymous with the word 'identity' when it comes to modern business culture.
Branding can stand for, product company or service
Companies have been known to pump millions of their revenue into shaping the perception that is created when the brand is shown. E.g., the name Microsoft invokes images of computers, software, technology etc.