Branding
Branding is “The American Marketing Association defines a Brand as a name, term, sign, symbol or design or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors. Since marketing is actively promoting a product or service. It’s a push tactic. It’s pushing out a message to get sales results. Branding should both precede and underlie any marketing effort. Branding is not push but pull. Branding is the expression of the essential truth or value of an organization, product, or service. It is a communication of characteristics, values, and attributes that clarify what this particular brand is and is not”.
First and for most you need a successful product to sell. I tend to agree with the theorem that successful brands are built on successful products. “A brand will help encourage someone to buy a product, and it directly supports whatever sales or marketing activities are in play”. A brand will communicate to the customer if you agree with me if you like me so you can buy me and support me and finally recommend me to your friends and family.” Marketing may contribute to a brand, but the brand is bigger than any particular marketing effort. The brand is what remains after the marketing has swept through the room. The brand is ultimately what determines if you will become a loyal customer or not. The marketing may convince you to buy a particular product. The brand is built from many things. Very important among these things is the lived experience of the brand”. For instance, if you are in the market to buy an automobile and wish to buy a foreign car like Honda, maybe this is your first foreign car purchase. At this juncture, it is a brand that will determine whether you buy Honda rest of your life. Is the question did the Honda deliver its promise on reliability and gas mileage? Did the Honda manufacturer continue to uphold its quality standards that made you buy a car? You can also judge Honda by the reception you receive from the dealership and the service you receive after the sale. Honda brand is built on the car that delivers low prices, reliability, safety and gas mileage. If those promise where satisfied than Honda has received a valuable customer for now and future. Honda will also get good reviews and recommendation from this customer. There is a debate as to how to allocate the cost of branding in an organization? On the surface, it can be yes, but the return on this investment via customer loyalty and repeat business is priceless. Brand loyal customer can become brand ambassadors and can be an advocate of the company or product. The branding of the product can perform some function for the company. “Branding simplify product handling or tracing. Brands help to organize inventory and accounting records. It can also provide legal protection for unique feature or aspect of the product. Brand loyalty provides predictability and security of the demand for the company. A strong brand is invaluable as the battle for customers intensifies day by day. It's important to spend time investing in researching, defining, and building your brand. After your entire brand is the source of a promise to your consumer. It's a foundational piece in your marketing communication and one you do not want to be without”.
For a brand to achieve positive impact for the company, it must achieve the following five objectives:
1. Delivers the message clearly: means the message should be clear, concise, and short to the point.
2. Establishes your credibility: for any business this is the cornerstone that they must protect. A brand confirms and adds value to it.
3. Connects your target prospects emotionally: “A brand ultimately resides in the minds of a customer”.
4. Motivates the buyer: A brand signals a certain level of quality so satisfied buyers can repeat the purchase. A brand offers certain familiarity to the consumer, so it makes is