Importance of branding
You strengthen your brand by constantly reinforcing your brand promise.
- As you venture into the world of branding, keep these truths in mind: You establish your brand by building trust in a one-of-a-kind promise
about who you are, what you stand for, and what unique and meaningful benefits you deliver.
- You build your brand by living up to your promise every single time people come into contact with your name, your message, or your business.
- Building brands takes focus, passion, persistence, and diligence. Plus branding requires effort and money.payoff, and it’s a big one, is that
strong brands build business and equity for their owners. The following section shed light on what brands do and why they’re such a big deal.
What brands do ??
Brands create consumer trust and emotional attachments. As a result, they foster relationships between consumers and products that withstand pricing wars, transcend offers from new competitors, and even overcome rare lapses in product or service excellence.
Great brands aren’t just known and trusted. They’re loved.
For examples of brands that enjoy strong bonds with customers, the next time you’re stuck in traffic, look at the logos posted in the windows of the cars around you. Each time you see a logo decal, try to think of that brand’s chief competitor. Then ask yourself “What’s the chance that a buyer of the competing brand would ‘wear’ the brand’s logo with such pride?” Only brands that strike deep emotional chords with customers make their way into hearts, minds, and car windows!
As you develop your brand and it gains strength and loyalty in your market area, look forward to reaping the following benefits.
Many people think that the logo is the brand, but, in fact, the logo is just one representation of the brand. Your brand isn’t how you look or what you say or even what you sell. For example :
- Starbucks sells coffee. It stands for daily inspiration.
- Apple sells computers. It stands for thinking differently.
- Disney sells animated and amusement park family entertainment. It stands for making dreams come true.
Your brand lives in consumer minds, so branding is the process of developing consumer beliefs and perceptions that are accurate and in alignment with what you want your brand to be :
- Brands make selling easier
- Brands are a big business today because they make selling easier in person and online. People prefer to buy from companies they feel they know and can trust, and brands put forth that assurance.When people are aware of your brand, they’re aware of the positive characteristics you stand for. Long before they get ready to make a purchase, they feel they know who you are and what unique value they can count on you to deliver.
Brands trump commodities.
In the marketplace, you have either a one-of-a-kind brand or a one-is-as-good as-any-other commodity. When it comes to creating a marketing success story, there’s no question that brands fare better because .
- Brands are products defined by and chosen for their unique distinguishing attributes.
- Commodities are products that are easy to substitute and hard to differentiate .
Brands build equity
- Brands that are preferred and valued by consumers deliver a long list of business benefits that translate to higher sales, higher profit margins, and higher owner value. Consider these brand advantages as proof:
- Consumers are willing to pay more to buy brands because they believe that the brands deliver outstanding and desirable benefits.
- Consumers stay loyal to brands, buying them more often, in greater volume, and without the need for promotional incentives.
- Retailers provide brands greater store visibility because they know that brands drive sales and result in higher store revenues.
- Brand owners don’t need to launch new offerings from scratch. They can grow their businesses by leveraging their brands into product and line extensions.
- Brand owners find it easier to attract and retain good employees because applicants believe in the quality of the workplace based on advance knowledge of the caliber of the brand.
- Brand owners run more efficient operations because they align all decisions with the mission, vision, and values that underpin the brand promise.
- Brand owners benefit from increased market share, increased investor support, and increased company value.
So these were the basic things that one need to keep in mind . Implement this and make your organization more successful .
- The Power of Kaizen And How It Will Change Your Business ForeverThe post The Power of Kaizen And How It Will Change Your Business Forever appeared first on Greendot Management Solutions.
- A Guide to Implementing Lean ManufacturingThe post A Guide to Implementing Lean Manufacturing appeared first on Greendot Management Solutions.
- Dangers for not implementing Lean manufacturing in down economyThe post Dangers for not implementing Lean manufacturing in down economy appeared first on Greendot Management Solutions.
- What Is Your Finished Goods Strategy?The post What Is Your Finished Goods Strategy? appeared first on Greendot Management Solutions.
- Will a Software System Improve Your Production Planning and On-Time Delivery?The post Will a Software System Improve Your Production Planning and On-Time Delivery? appeared first on Greendot Management Solutions.
- Regularly Spend Time on the Shop Floor (Gemba walk) & increase ProfitThe post Regularly Spend Time on the Shop Floor (Gemba walk) & increase Profit appeared first on Greendot Management Solutions.
- Develop a Simple Measure of Production OutputThe post Develop a Simple Measure of Production Output appeared first on Greendot Management Solutions.
- Deciding where to start your lean journeyThe post Deciding where to start your lean journey appeared first on Greendot Management Solutions.
- 7 Types of Waste in Small ProductionThe post 7 Types of Waste in Small Production appeared first on Greendot Management Solutions.
- VSM- A Value Stream Structure for Middle ManagementThe post VSM- A Value Stream Structure for Middle Management appeared first on Greendot Management Solutions.