A brand refers to a name, term, symbol, logo, design or any feature that’s associated with a company’s product or service different from that of other company’s products. Think about Coca-Cola – it’s all-encompassing. In it’s most basic form, branding began many years ago, in villages, where cattle farmers took turns to take care of large cattle herds. Each person’s cattle would have a different hot iron stamp, to distinguish them from another person’s cattle. In today’s world, branding has taken on a whole new meaning. Generally, people around the world believe that products with brand names are better than products that do not have one, although some people would disagree. Here’s what you should know about why brands matter!
Branding
Branding is not just reaching your target audience or market. It’s all about letting people know that your product is the solution to their problems, and this is true in most instances. Brand names tend to offer better products to their customers, because they understand the importance of high quality products. They have an image and reputation to protect. In most instances, people buy certain products because they are of high value, not because they are cheaper.
Communication
A brand communicates a message in ways that non brand products do not. The message is very clear. Every time people see the logo, song, design, term, etc, they already know what to expect – value at affordable prices. People know without a doubt that they can never go wrong by purchasing certain products. This is why well established businesses strive in any economy.
Loyalty
A brand creates a loyal following. When people love your products, your business will succeed no matter what, because you have a loyal following that believe in your product or service. Every time you create a new product or service, people will be more and more willing to try them out.
Confirmation
A brand confirms your products’ credibility. When they see a logo, design, sign, or any other symbol associated with your product or service, they know exactly what they are getting. People love valuable products, which is why big brand names stand out of the cloud regardless of the economy.
Motivation
A brand motivates customers – it keeps them coming back for more. In order for a brand to stand out of the croud, you must understand how the mind of a prospective customer works. People are not hard to please; all they want is value and nothing more. Some companies create products that break within a week of purchasing them. Do you really think that customer will come back for more, not exactly? They will tell everybody about that product so they don’t end up spending money on useless products that will break within a week of purchasing them.
There are no magic bullets when it comes to product branding; all that really matters is value, and sometimes the price, although most people would rather spend more money to put their hands on a valuable product or service. It is important to know that people want to be treated fairly and with respect, creating invaluable products is not seen as fair or respectful in the eyes of a customer.
As a business owner, you should spend time doing your research to build a strong brand. The battle for customers is intensifying each day that passes by. Your brand must be the source and the building block between you and your customers. You must always come up with new marketing strategies as opposed to sticking to the good old ways that no longer work. The world as we know it is no longer the way it used to be 10 years ago.
Author bio: Melissa Jurgens writes about fitness, finance & saving money at www.lifeinsurancequotes.org
