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How to Create a Business in a Brand

These days many businesses are thriving and striving hard in order to create their presence and enjoy higher sales. The business branding overall has become an eternal need of every business and without which it would be more difficult for any business to survive.

Earlier, people thought that branding is only required for the large businesses, but as the time moves on it is proved that branding is not just required for large businesses, but also for the small businesses.

However, it doesn’t matter whether you are heading a large business or a small business, but most important is that you should have a detailed strategy of branding your business in order to achieve success.

Below are the steps that will help you to create a better business brand

Follow KISS:
KISS is a most prominent branding terminology which stands for Keep it Short and Simple. Use Kiss while defining the name of your business because it plays an important role in your business branding. Most of the successful business brands usually have very short and simple names which are easy to pronounce and remember. Just remember the names like BMW, Audi, Intel, Google etc. The longer or complicated business names are much difficult to pronounce and recall.

Use a creative logo:
People usually identify a business not only form its name but also from its logo. A business logo is the identity of every business that why special cares to be taken while designing the business logo. Remember, if somebody takes the name of Mercedes then the immediate thing that comes to the mind is the very famous three spoke Mercedes Benz logo. Same is with BMW and Audi. But this is not restricted to the automotive brands only, but other companies also like Microsoft, Apple, Nike, Mac Donald’s etc.

Choose the right color combination:
It’s not just the logo or business name, but the colour theme of your business also plays a major role in its branding. Once you have identified your business name and logo then all your branding and promotional material should revolve around the colour scheme that you have used in your logo. For example, most of the Mac Donald’s outlet uses the shades of Yellow in their interiors and promotional merchandise and even on the food packages because that colour represents their business. Same is done by other brands like Dominos, Shell and DHL etc. The colour of your business has a psychological impact on the minds of the consumers and that’s why it is important not to choose more vibrant or difficult colours. Use solid and simple colours like Blue, Green, Red, Yellow, White and Black in their different shades.

Choose your USP and stick around it:
USP or a Unique Selling Proposition is a very small word but it has made a huge impact on many businesses. These days competition is intense and therefore in order to stand out from the competition, you need to have a USP of your business and your entire branding strategy revolves around the USP. The brand like BMW and Mercedes has its USP, as they offer premium and high safety products. While brands like E bay and Ali Baba has the USP as they offer a wide selection of very affordable products. Similarly, Mac Donald’s have their USP of providing the delusions burgers. The USP helps people to identify your business with a product or services. For example, when someone talks about a burger then first thing comes to the mind is the Mac Donald and when someone talks about the sports shoes then brand name comes to mind are the Nike, Reebok, Adidas, and Fila.

Do brand hammering:
One of the most important things for every business is the brand hammering. The brand hammering involves continues to push to the brand to its target audience so that people could easily connect with the brand. Although sometimes a brand hammering proves quite expensive because it requires many promotional and marketing exposures. In order to make your brand stand apart from other brands, you need to create a chain of TV commercial and print advertisements so that it will hammer deep into the minds of the consumers. Although, today in the modern age there are many digital marketing channels which are very much affordable and good for brand hammering.

Bring emotion to your brand:
These days because of the excessive stress and hectic lifestyle people are getting more emotional even for the small things. Anything that connects to their emotion brings out more success to the brand managers. If you have a product or services then create an ad commercial keeping in mind the emotion of the consumer. These types of emotional ads would more connect with the consumer. The people who are emotionally attached to a product or a service were more likely to remain loyal towards them for many years. Example of an emotional connection could be seen in many car advertisements these days in which marketers put more focus on the safety of your family, especially your kids instead of talking about the luxury features of the car. This brings a sense of emotion and responsibility in the parents towards their family and that highly influences their buying decision. Sometimes they even ignore the most important factor i.e. price while buying a car based on their emotional concern.

CreativeClick has experience in various cutting-edge technologies like Graphic Designing, Printing, Publishing and Digital Marketing Services. CreativeClick has been started with a goal of providing creative and technical expertise to Local and Global Clients with a zeal of promoting their products and services.

Making Your Brand Stand Out in a Tough Market

There are many different ways that you can make sure that your brand stands out among your competitors. You may be doing well in that particular area but there are always other ways that you can differentiate your brand even more for greater and greater success.

Consider marketing your brand with videos
Depending on how savvy you are with technology, you may not have made videos to market your brand up to this point. In fact, you may not even have considered it. Well, it is time that you jump on that particular bandwagon because it will take you very far as far as brand recognition and loyalty from other people are concerned.

When it comes to effective ways to communicate about your business, videos are certainly at the top of the list. Your videos should not be long because very few people have the time or the patience to sit and watch for too long. A maximum of 2-3 minutes is perfect. In addition to no time or patience, people also don’t have a long attention span when it comes to videos.

It is important to keep in mind that your videos have a very specific purpose in mind. Many different techniques may work well for your brand. Animation can be extremely effective for certain businesses. If your message and story are strong and your animation technique is sophisticated, other people will most likely be interested in what you have to say as well as being interested in how you are expressing your message.

Highlight your brand’s uniqueness
You really need to convey exactly how and why your brand is different than everyone else’s. Even though other businesses claim to do exactly what your business is doing, you have a responsibility to demonstrate (or express) why the other person should consider you above all others.

The concept is really that simple. Before you can accomplish that, of course, you will need to wrap your mind around your target audience. You will need to learn what they want and need and what they like and dislike. If you are able to do that, you will be able to customize your content marketing materials to the point where you are speaking to each person individually (at least, in the minds of your target audience members).

Another thing that you should keep in mind is that along with your brand’s uniqueness, you must also demonstrate transparency and credibility. By reaching your audience members, you are establishing an emotional connection with each and every one of them. Put another way, that means that you are helping them to solve whatever problem they are experiencing at the time. As you are building a solid relationship with the other person, you will want them to get to know you as much as you want to get to know them. The only way that you are going to successfully forge a relationship with the other person is to let them into how you think and what you feel.

Be consistent
If you market your brand correctly, people will come to count on your posting content at a particular time and they will learn that they can count on you and your brand to keep them standing tall. The one thing that you never want to do is to create that impression once. If they are all excited about what you are sharing with them and they can’t find anything from you the next time around, that is basically the kiss of death. This is all part of building your relationship with the other person. They should be able to count on you and you don’t want to disappoint them. You want them to think about you first when they need what you are offering.

Give them something that they find valuable
Everyone knows how much information is at everyone’s fingertips online. However, that does not mean that all of that information is valuable and useful to other people. In fact, a large percentage of information is not worth much at all. There are many people who are clueless about what constitutes great-quality content. If you go by the premise that whatever you have to say should be valuable to at least one other person, it is worth expressing. If you aren’t sure that it is the case, you should probably think twice before you do anything. That is a simple rule to follow.

When you sit down to create content, if you ask yourself if you would like to read the content that you are about to create and the answer is yes, go for it. You should never offer any lower-quality content to the other person than you are will to accept yourself.

Conclusion
Doing whatever it takes to stand out and above your competition is the way that you will get ahead in your business and successfully promote your brand so that you are able to bring your business to the next level. You need to make sure that your unique selling proposition (USP) is really unique and compelling so that people stand up and take notice. That is exactly why other people will want to relate to you. So, build those relationships and build them well. Take your time when it comes to marketing your brand. It is much better to do it slower and more thoroughly than to rush and forget some important aspects of your branding. The relationships that you share with other people are what will help you to make your dreams come true!

Michael Cohn is the founder and Chief Technology Officer (CTO) of CompuKol Communications. He has over 25 years of experience in IT and web technologies. Mr. Cohn spent a significant amount of time at a major telecommunications company, where his main focus was on initiating and leading synergy efforts across all business units by dramatically improving efficiency, online collaboration, and the company’s Intranet capabilities, which accelerated gains in business productivity. He also reduced company travel and travel costs by introducing and implementing various collaboration technologies.

His expertise includes business analysis; project management; management of global cross-matrix teams; systems engineering and analysis, architecture, prototyping and integration; technology evaluation and assessment; systems development; performance evaluation; and management of off-shore development.

Mr. Cohn earned a Master’s degree in project management from George Washington University in Washington, DC; and a Master’s degree in computer science and a Bachelor of Science degree in electrical engineering from Fairleigh Dickinson University in Teaneck, NJ.

The Importance of a Brand Audit to Keep Your Business

Brands just like any other things in the world come and go. Brands like humans have their own lifespan. Some may last for months and some fade away. This is a sad reality that businesses and organizations should take into account. But with the emergence of products and services online, there has to be a better way to keep your brand in the market for a lifetime.

A brand audit is an effective way to keep your brand in its strategic position in the market. It is part of marketing strategy and helps you act on possible ways to remain on the top. It involves analyzing, assessing and evaluating the condition of your brand online, and the real situation of your website.

It is a tool used by organizations and businesses to know the position of their business in the face of surmounting online competitors. It is based on the compilation of data gathered from your website guests and customers. It gives you an idea on how to improve your brands or services to them to meet their expectations.

Your main concern is to give satisfaction to your customers by getting their opinions. Through an effective brand audit you will have an idea on how to improve your products. When you learn their feedback based on reviews and comment, you know which part of your product needs fixing.

Why a Brand Tracking System is Important

A brand audit is a necessary tool to know about your products and services based on the critical point of view from customers and website visitors. Here’s how:

· It prevents customers from leaving your website because they are not happy with your products and to your site.

· It can give you detailed info who are the main users in your niche..

· It helps you get connected to customers through social media networking sites like Facebook and Twitter.

· It gives you an idea if your product has memory recall from online users

· It can help bring customers back to your site through social media.

A featured social media audit is getting popular these days. You can use reliable social media dashboard tools that can enhance the standard of your product’s online presence. These companies have helped many businesses to resurrect and maintain their stronghold in online marketing. Fledgling businesses are lucky to have picked these companies to prevent the possible risks that can happen in the future. This is a good decision rather than wait for some time.

What is Covered by a Brand Audit?

Getting a thorough checkup for your product or services through an important brand audit can lessen your load because they help assess and evaluate the strong and weak points of your business. The evaluation covers:

· Competitor evaluation-This is important to know how their products fare in the market.

· Customer evaluation-This is to know how your customers react and perceive your products.

· Brand evaluation-This includes knowing the identity and positioning of your brand in the market.

How To Turn Your New Business Into A Successful Brand

You have started a firm which aims at selling or providing its consumers with goods, this exactly is a business. But how to know when you should start calling your business not a business anymore but a brand? Because a brand is not just a business, company or a firm simply. Rather, it is much more than just a logo.

A brand is actually the image a company or business firm holds on its products, services, staff, their uniforms, their styles of service and even their advertisement techniques. All these sum up to be the experiences your clients might have with your business firm or your company. A well-known and good brand takes care of this experience that its customers might have with it and also struggles to develop trust and integrity between the two. The importance of this point must be realized that the life, as well as the prosperity of your brand, depends on what your company does and the way it does so.

This includes every kind of interaction that you have with your clients involving the content you put on your website and on all the social media forums like Facebook,
Twitter, Instagram, Snapchat, etc.

If your budget is tight, but you still want your business and brand to flourish to their max, then you can easily get your target achieved by following the tips of brand promotion that are given below.

Firstly, Define Your Brand
Whenever you are undergoing an interaction with any of your customers, be it through some content that you are currently creating or if it is a direct talk being held with them, you must start off by defining your brand and explaining its aims and goals.

Regard Your Brand as Some Person
As a person’s beliefs, moral values, and aims in life build his character and personality up likewise a brand, when considered as a person, is also something whose image will develop in the light of the thoughts that are put in while creating and developing it.

Keep In Sight the Drive Behind Your Brand
One must never digress from the actual track of whatever he is doing. Therefore, it is very important to always keep in mind that what it actually is that made you start your business. The motives behind your brand’s creation and development, its purposes and targets that it is meant to achieve, everything is important.

Try To Develop Consistent Relationships with Customers
One thing that is very necessary to keep in mind is that you must never try to lay down a false, fraudulent or deceitful coating over an offer of your brand so that the customers raise their expectations and later on their dreams related to your product or service are broken. Rather, you must always focus on building trust-based relationships with your customers which last for a longer time in order to be successful in getting some brand promotion.

Abstain From Imitating Other Brands
Your aim must be to carve your own distinct and distinguishable identity. And for that matter, you must talk inventively and avoid repeating your words. Secondly, you must never imitate any other chain of brands in any form at all. Because this won’t help in brand promotion at all.

Never Forget What Requirements Branding Holds
These requirements include the one most important one which is the needs and demands of the customers. They are an ever-changing phenomenon so one’s brand must be flexible, bold and daring enough to cater them efficiently and effectively.

Your Logo Alone Isn’t the One Promoting Your Brand
One must never be naïve enough to think that a logo of his brand stamped upon every product will make people buy it. The reality is that apart from the image of your logo, there are many other factors helping you in your brand promotion.

Sharing Your Concepts for a Booth Design

You don’t have to be an artist to share your concepts with exhibition booth designers. The more you can share with them, the easier it is for them to create something you fall in love with and you are proud to stand behind. When possible, create some sketches, and don’t be intimidated with how they look. The visual aid can allow them to add their creative flare to the mix.

The best exhibition booth designers aren’t going to be outrageously priced. You may be thinking you can’t afford their expertise. You need a remarkable image in place for people to stop in their tracks when they see it. Consulting with possible providers is free, and it can help you to see the true value with what they can bring to your image and the set up you have at the trade show.

Communication

When you work with any exhibition booth designers, the goal is to get the results you want in the least amount of time. However, this only works well if you both communicate efficiently. Make sure you consult with the possible provider early on and get a feel for the connection you have with them. You will have a huge barrier in place if the two of you can’t openly communicate.

Share your feedback about what they have on the table. Don’t accept a concept you aren’t really fond of because you don’t want to hurt their feelings or you want to hurry the process along. What is on display at the trade shows is a solid representation of your business. Make the most of it rather than settling!

Be Patient

The exhibition booth designers may be experts, but they aren’t going to get it all right the first time around. Be patient and give them the time they need to work on it. When they do show you concepts, share what you like and what you don’t. They can go back and make some changes and come back to you again. Each time, it should be moving closer to the finished work.

If you have questions, ask them so you can stay on track and be in the loop. You don’t want to make assumptions or you may become frustrated. Find out what the process will be so you can understand the flow of the project from start to finish. With a projected timeline for the finished work, there should also be milestones within that timeline for you to check what is done.

Keep Moving Forward

To do your part with the time and processing, make sure you are available. Return phone calls in a timely fashion. Carve out time to meet with the exhibition booth designers if they are local to go over what is being modified and to give them your input on the next steps so they can get working on them. If they aren’t local, keep an eye on your email for images to be received.

Start the Process Early

Avoid the stress or feeling backed into a corner by looking at exhibition booth designers early. It will take time for them to schedule your project and to get it done by the time you need it. If they have to rush, it can compromise the value of what they are able to deliver. It also reduces the time you have to ask for any changes to be done. The overall quality of the project is essential.

Finding the best provider of such services is important. In addition to the skills for job, they need to be customer oriented, creative, and willing to give your project the dedication it needs. Find out what others have to say about their business and how they were treated before you hire them.

Stop Keeping Your Business a Secret

Demonstrate your value and get on the radar of potential clients. Your business shouldn’t be a secret. It’s time to STOP hiding! If you don’t let people know your exist, who will?

Getting yourself out there and being seen and heard by your target audience is how you reveal your industry expertise and build your credibility as a career expert while building your brand.

Putting yourself out there also gives you the opportunity to really connect with your ideal clients, giving them a chance to get to know, like, and trust (KLT) you.

People feel more comfortable doing business with people they know and companies they feel they can trust. Building that KLT factor with them, you’re putting yourself in a better position of them reaching out to you when they’re ready to work with a career coach or resume writer.

Content marketing or sharing information with your target audience can be done in different ways. A few of the easiest ways is doing blog posts and writing articles on a regular basis.

Another way is doing video content marketing, which is huge and according to Forbes, VIDEO is projected to claim more than 80% of all web traffic by 2019! So you might want to think about incorporating video into your marketing mix somewhere down the line as well.

So the next thing is what do you write about? I think coming up with topics to write about or “writer’s block syndrome” is what makes many people hesitant starting a blog or writing articles, which is why I’m glad you’re watching my video because I can help you come up with ideas right away!

Just think about the questions you get asked over and over again by job seekers. Those FAQs are topic ideas you can write about! Also, think about the most common problems job seekers come to you with. Those too can be topics you can write about. Here are a few examples of the questions I got all the time when I worked with job seekers:

  • How long should my resume be?
  • What’s the best way to find a job?
  • How far back should my resume go?
  • Do you really think a LinkedIn profile will help me?
  • What does personal branding mean?

Take Action:

Brainstorm a list of 20-25 topics you can write about, block out some time in your calendar to work on them and start marketing your content as blog posts, career articles, or do a video to share your information. I doesn’t matter which way you do it so long as you’re putting yourself out there in front of your audience.

Growing Fashion Brands in India and What Makes the Apparel Industry So Lucrative

The fashion industry is among the fastest growing industries in the world today. Since time immemorial, change has been the sole factor that has remained constant. Currently, the fashion industry of India is considered to be of a dynamic nature. Due to the increase in fashion consciousness among Indians over the last few decades, the fashion industry has experienced a boom. Starting from the middle aged home maker to the funky college youth to the top notch posh populace, everyone has developed a definite fashion sense which is not only distinct but classy.

List of Top Apparel Brands in India –

Rohit Bal

Ritu Wears

Sabyasachi

Fish Fry

Satya Paul

A major part of the fashion throughout the world is the section of apparels. There’s a saying “Clothes make a man” which Indians wholly and souly believe in. It is pretty common that a person more often than not is judged on the basis of the way he/she is dressed. A person’s personality is defined by the clothes they wear. It speaks a lot about his/her education, personality and way of thinking. It has been predicted that in the next few years, the Indian fashion consuming class will set the fashion industry at a global level.

The boom in the Indian apparel industry is mainly due to factors like, rising incomes levels of Indians, liberal trade policies adopted by the government, and flexible investment policies on the apparel industry. Today most of the international brands have found their way into some of the best malls in the country. Brands like Mango, Armani and Diesel were unheard off in India till a few years back but today these brands are found in almost all Indian cities.

It is said that in the last ten years the fashion industry in India has moved from a very nascent stage to a full fledged booming industry.

The value of the apparel market in India is estimated at around 20, 000 crore. The branded apparel market’s size is 5, 000 crore which is a quarter of the total share. The apparel market is India is categorized into branded and non branded. The Top Apparel Brands in India are Madura Garments, Arvind Mills, Provogue Zodiac Clothing, and Raymonds. Apart from these brands India over the years has given birth to some of the finest designers who have become famous brands not only in the country but in the world. The introduction of a number of designers in the fashion industry has given a further boost to the Indian fashion industry. According to recent research conducted by the (FDCI)Fashion Design Council of India apparels created by designers in India is going to play a major role in the growth of the apparel industry in the next few years. Currently the Indian fashion designer industry stands at 180 crore and is expected to grow to 1,000 crore within the next decade.

Benefits Of Branding Your Personal Umbrella

When it comes to umbrellas, there are a lot of things that we should put into consideration when it comes to branding. The large space on an umbrella is one of the reasons why it is possible to create anything you desire on it. For people with small businesses, one of the easiest means of advertising their products is through the use of umbrellas. Any umbrella factory can help you achieve your promotional events at an affordable rate.

There are designer that come with up to eight panels that can be used for various advertisements. You can advertise or brand two or more promotions or companies on the same. The panels can take up to many messages without disfiguring the umbrella. There are bespoke designs on umbrellas that will help you achieve your desire.

The compact umbrellas have become an avenue in creating your traditional designs. Most people prefer the small or compact umbrellas because they are easy to move around. You can actually take advantage of these types of umbrellas and pass your message. Designing an umbrella is always fun and the promotional message is always passed for years. Each time your customized umbrella is brought out, it tells the same story you have sent it to do.

The following are some of the umbrellas that can suit your branding.

The Personal Umbrellas

The home umbrellas are the personal umbrellas that have been design to protect people from rain. These umbrellas come in different shapes and sizes. Thinking of creating a bespoke designer umbrella, you can begin with these types. When you brand an umbrella with original artwork, typography or beautiful patterns, it will always stand out in the crowd.

The Business Umbrella

Create your logo, name or message on the business umbrella. Umbrellas given out to customers can help them remember their visit to a particular business. This can entice them to come back again especially if the service is cool. The customized umbrellas have been designed to give businesses a friendly outlook to outside world. Interestingly, you never know where these umbrellas will travel to and what effect your business will have from such customization.

The Retailers’ Umbrellas

Are you in the business of retailing? Maybe, your business is suffering from stiff competition from similar businesses around you? With a customized retailer umbrella, you have an opportunity of standing out in the crowd and also beating the competition. The cost of doing this is affordable and the distance your advertisement will cover cannot be extended. Sometimes, we see a business in Europe still advertising itself in a tiny village in Ghana.

Brand Launch Services Play A Key Role In Successful Launching Of Brands

Brand launching is a relative term and has a lot to do when you measure the success story of a company. However, it is easy to botch up this planning and it may not be easy to predict where things have gone wrong. For instance, you cannot allow the brand name to become a string of letters which fails to create the impact and does not relate to the preferences of the clients. When you talk about brand the website cannot lag behind but an entity which looks rather cheap and unattractive will never promote your brand further and very soon it will be dispelled from the mind of the customers. Hiring brand launch service is the way to be truly but maintaining high levels of consistency can make your launch successful.

Pulling on with efforts

The question is when to look for the services and the answer is when you are trying to pull up the sales growth of the company. Although strategies partnerships with external agencies can spell success doubly you have to proceed with careful thoughts in mind. If you have decided to hire the services of an agency which helps you in launching the products you must try to identify the goals and make sure that you understand what exactly is to be accomplished. What are the elements that make your business unique and how your services and products can be separated from the rest? There are driving factors that go into creating a culture which is rather distinctive but the kindles approach cannot make you one of the brands which is instantly identified by the customers. The company which you intend to hire for brand launch must have had practical experience while dealing with branding. What you stand for is your true identification in the market.

Acquiring the customers

For any successful business acquiring more customers is one of the prime strategies but keep in mind that there must be steady stream of quality customers even if they may not purchase heavily. Research suggests that the most valuable buyers may not buy heavily but write blogs speaking about your products and updates the website with favorable reviews which encourage others to buy. Even though you may look forward to establish long-term relationships with the clients they will not talk about it as much as people would prefer to do with new brands. Truly speaking customers love to engage with new brands. With the help of a reliable brand launch service you will be able to work on branding actively and know how it can help your business overcome the challenge of competing with brands.

Need to hire experts

Now this is one of the essential aspects that many businesses tend to ignore either due to the intention to keep the cost low or waiting to gorge on something better which may never strike again. With experts in the purview you have the opportunity to understand how to proceed with a set methodology such as the perfect monitoring techniques after building the brand and making the improvements if any. Only an expert will tell you that building brand is to be done quickly as you can add up to the customers in a pretty steadfast manner instead of wasting time with the same old ideas that hardly yields results. The next thing is that you can shape the positioning of the business in the market with ideas that are appropriate. Instead of outing the equity of the existing brand at risk the experts will recommend that you try to invest in ideas that are rather new. Honestly speaking, the trill of the new attracts the customers instead of the reliability of the old although it may not be forsaken.

Creating the culture

The building blocks of the company must permeate and with years of experience in this field an expert can tell you how to build the culture surrounding the brand and creating a successful brand culture is the motto of every expert.

Brand experience

The touching point of the brand with that of the customers is the key. Apparently, the customers identify the products and services of a company incorporated in a brand but when it comes to the experience with packaging, design, videography and website the opportunity to engage with the customer.

Strategies for the business

One of the prominent aspects of hiring a specialist is to carry on with proper positioning of the brand along with the communication of the core values and the mission of the company to the customers.

Launching a new brand

For startups it is vital to hire the services of experts from the beginning as it helps in understanding how to proceed with the ideas of designing. Popularizing a brand must be carried out from the beginning which involves the right mix of culture and deeper engagement with the customers. You need the help of experts to create the best conversion rate and then work on it for continuous improvement. Just remember that the process of launching will never end and it must be in a state of continuous changes with one gaining momentum over the other.

Seagull is a prominent brand launch center service which assists the clients with successful launching strategies. The company strongly believes in implementing the best ideas that are result-oriented and has earned the recognition of one of the most trusted specialist in this sphere. The principle of this service provider is to set the brand apart from the rest and creating success story has become a habit. As a matter of fact, the company has allowed a lot of businesses thrive whether it is to reposition an existing brand or creating special position for a new brand from the beginning. Driven by energy to promote successful growth of sales in business but the company has grown beyond the measurements of success and is set to create new stories.

How To Create A Brand – Build Your Brand Development Strategy

How To Create A Brand?

There are four effective steps in brand development strategy to create a brand:

  1. Choose the brand name and logo
  2. Establish the brand in the minds of customers
  3. Brand Sponsorship
  4. Develop the brand

What Is Brand Equity?

How to create a Brand is no way different from founding your business. It takes time. Gradually you can create Brand Equity. Brand equity is the differential effect when consumers react more favorably to a brand than to a generic or unbranded version of the same product. Whenever we think of buying a smartphone the very first name strikes us is – the iPhone. Ask why? It’s because of comfort and authenticity delivered by iPhone to its users.

Apple throughout their years of research and experience has created a state in our mind of ultimate luxury and comfortability in using their products. There may be a few more similar products of others in line with Apple iPhone and may be superior to that, but the identity of iPhone gives it the edge over others- no matter what the price tag is. This edge is the Brand Equity.

4 Steps of Brand Development Strategy

1. Choose the Brand Name and select the Logo:

While building a brand development strategy name plays a vital role. A good name and style can add positives to a product’s success. It is the most difficult task to start with. Simplicity is the first step. The name should be easy to pronounce, recognize and remember. Moreover, it should suggest something about the product’s benefits and qualities.

Names like Google, Nike, Facebook, Apple, KFC etc. are among the most established brands all over the world. Interesting fact about those names is that they are easily translatable in different languages around the world. Hence the meaning of a particular word should not be something which indicates bad, wrong or negative.

Again the name should be extendable to cover up multiple product lines. For example, Amazon.com started its business with bookselling and now has been extended to multiple product categories.

Once chosen, the brand name should also be protected. Means in many instances brand names were eventually mixed up with the product category and people cannot differentiate the brand identity from the product category.

For example, Xerox is a company builds copier machines, but doing a photocopy is often termed as doing xerox.’Xerox’ is to be pronounced as a noun and not as a verb. Many people find it hard to distinguish between the product and the service which ultimately hampers the brand name of the Company.

2. Establishing the brand in the minds of customers:

An interesting saying by a marketer- Products are created in the factory, but brands are created in the mind. This can be done in multiple ways- At the basic level, it starts with introducing the target customers the product and its distinguishing characteristics.

Let’s took the example of Amazon’s Kindle- e-book reader. Amazon targets its customers, saying that it’s an e-book reader having a distinguished feature of reading books in a virtual format. In this stage, they are simply introduced with the product and has a very low level of impact.

The more effective way a brand can be positioned by associating its name with desirable benefits. Thus, Kindle is beyond an e-book reader- it is lightweight, on the go dictionary, stores thousands of books which are easy to search, no glare and zero distractions.

The strongest brands go beyond establishing features and benefits in customers’ mind and positions itself on strong values and beliefs, rooted to a deep emotional bonding. Like reading books in Kindle is an absolute pleasure and presents itself as booklover’s new best friend. When placing a brand in human mind, the marketer should establish a mission for the brand and a vision of what the brand must be and do.

3. Brand Sponsorship:

Brand sponsorship can be of three types:

  • Private Brand sponsorship
  • Licensed Brand sponsorship
  • Co-branding

Private Brand Sponsorship:

Lots of advertisements and social marketing strategies work behind the big brands to emerge and are termed as National brands. But for smaller Companies, it may not always be possible to endorse brands with a huge out of pocket expenses. In those scenarios, brand sponsorship is very important. As against National or Manufacture’s brands, there are Store brands. In recent decades store brands are gaining more from the market. Here’s why?

Big shopping malls like Big Bazaar, Walmart resale products at significant discount rates especially the generic or no-name brands. They endorse the products citing its advantages or putting side by side comparison with the top brands. The association of the big resellers with less known products works as an aid in uplifting the brand value of the product once termed as ‘no-name’.

Private brand sponsorship is also followed in online shopping too. As we can see small or lesser known mobile manufacturers are recently tying up with Amazon to sell their phones. In fact, this strategy is working great as the ‘no-name’ brands are getting the support of the big brand stores be it online or offline.

Licensed Brand Sponsorship:

In this brand sponsorship, some companies buy the names and symbols of other manufacturers or creators with a fee and endorse its products under such brand name. This is a common thing in the fashion industry like Calvin Klein, Tommy Hilfiger, Gucci, Armani etc., where the Companies are using the names and initials of well-known fashion innovator. This type of branding turns out as an added fillip but with a pinch in the pocket.

Co-Branding:

Under such a brand sponsorship strategy, to established brand names of different companies are used on the same product. Because each brand dominates in a different category, the combined brands create broader consumer appeal and greater brand equity.

For example, Bajaj Allianz Life Insurance where Bajaj is a dominant player in the automobile sector and Allianz is a German financial service major. Now since Bajaj wants an entry in the insurance sector and Allianz wants an entry in the Indian market, they jointly made a brand ‘Bajaj-Allianz’ to reap the fruits of the Indian insurance market.

Co-branding carries some limitations too. Such relationships usually involve complex legal contracts and licenses. Co-branding partners must carefully coordinate their advertising, sales promotion, and other marketing efforts. The onus lies on both the partners to carry the co-brand with trust and dignity.

4. Developing Brands:

To augment the brand equity it is very important to prepare a brand development strategy incommensurate with changing business scenarios. There is no hard and fast rule to dictate over.

Line extensions:

Brands name of a product can be extended to an existing line of products to accredit new forms, colors, sizes, ingredients or flavors of an existing product. However, line extensions involve some risks. An overextended brand name might cause consumer confusion or loss some of its specific meaning.

Brand extensions:

It happens when a current brand name is extended to a new or modified product in a new category. For example, Nestlé’s popular brand of noodles Maagi has been extended to its tomato ketchup, pasta, soup etc. A brand extension gives a new product instant recognition and faster acceptance. But one should be careful while extending brand as it may confuse the image of the main brand.

Multi-Brands:

Multibranding offers a way to establish different features that appeal to different customer segments, lock up more reseller shelf space and capture a larger market share.

For example, a reputed company sells multiple varieties of soft drinks under different brand names. These brands are fighting each other to reign the market and as a result, they individually may have a smaller share of a pie, but as a whole, the Company is dominating the soft drink market. The major drawback here is the individual brands obtain only a small market share and may not be very profitable.

Conclusion

Brands are not created in a day or two; you ought to have the patience to grow it. The above – mentioned points suggest some best practices to build a brand, but the real test begins in the field. Brand development strategy differs from place to place, even urban branding and rural branding are way different in their practical applications. Remember that behind a successful brand development strategy, there lie lots of endeavors, a vividly clear vision and above all an uncompromised quality of product or service.