The Importance of Branding

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For those of you who are new to the world of business and do not yet quite understand the whole concept of branding, as good a place as any to start is with how the American Marketing Association defines the word: "Name, term, sign , symbol, design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers. "

In simpler terms, branding is the art of creating a name for yourself that sets you apart from the herd. You want to not only strive to have your target market choose you over the competition, you want them to see you as the only one who can provide the product, service, feeling or solution they desire.

As examples, take a look at some wildly popular brands. What comes to mind when you think of tissue? Why, Kleenex, of course! In fact, Kleenex has done such a stellar job of branding that Kleenex has practically replaced the word tissue in the English language. Ditto with Windex. Do you need to clean your windows? Most people do not say, "I need glass cleaner." They say, "Hand me the Windex." Then there's Kool-Aid. Kids do not say, "Mom, I want a glass of that powdered stuff you add sugar to." They say, "Mom, I want some Kool-Aid."

Can you imagine what it would feel like to have that sort of sway over consumer decisions? Heady stuff, is not it? Are you getting excited? Can you hear that money machine going ka-ching, ka-ching?

So maybe your product or service will never replace a word in the English language. I'm here to state, however, that shooting for the stars is the best way to insure that you will at least make a name for yourself, one that will not be easily forgotten. To secure this exalted state requires passion, time and research (and possibly a little luck) to make sure that the brand you choose perfectly exemplifies your company, its offering and its goals.

Can one successfully brand a small business? Absolutely. The leading example is probably Starbucks. Utilizing almost zero advertising over their first decade, they developed such a strong brand that their competitors got the shakes … and today are all pretty much just lumped together products in the Big Guy's rear-view mirror. (And these people are not closer than they seem or would have you believe!) From Howard Schultz, CEO of Starbucks, "A great brand raises the bar – it adds a greater sense of purpose to the experience, however it's the challenge to do your best in sports and fitness, or the affirmation that the cup of coffee you're drinking really matters. "

We all know that competition in the business world is stiffer than ever. Neverheless, if you do your homework, if you create a brand that is strong, clear, concise, memorable and impressive, with a reputation to back it up, before you know it you will have customers knocking down your doors.

Okay, so maybe that was an exaggeration. Forgive me. I get excited about this branding fixation, but only because I know how well it works.

Now get busy creating! And holler in the direction of an experienced professional if you want some assistance in crafting your branding strategy. They know people, which means you've got people … which (with a nod of recognition and tribute) is H & R Block's latest marketing campaign. That's yet another company that's done a wonderful job of branding over the years; where else does one get their taxes prepared? See? This stuff works!

Source by Lee Cooke

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