Branding explain
Do you think why big brands like amazon, flipkart, oyo rooms, Swiggy like big company known by their name?
Let me explain this....
When we talk about E commerce why amazon and flipkart always comes first?
When we talk about hotels and it's chain why OYO rooms, Trivago always comes First?
When we don't wanna go restaurant and want food at home, so why we always calling do Swiggy, why we don't call order from that xyz restaurant?
Why package milk cost around 50₹ (only for example) and without package milk cost around ₹45 ?
All this is because of "BRANDING"
So, now let's understand what is branding?
Branding
It is the process of giving a name Or a sign or a symbol etc. to a product.
One of the most important decision for a business that a marketer has to take in the area of "product" is in respect of branding.
He / she has to decide whether the firm's products will be marketed under a brand name or a generic name.
Generic name refers to the name of the class of the products, for example: pen, car, television, etc.
If products were sold by generic names, it would be very difficult for the marketers to distinguish their products from that of competitors.
Therefore, most marketers give a name to their products, which helps in identifying and distinguishing their products from that of the competitors.
Some example for generic name and brand name -
Generic name Brand name
Shoe Reebok, Bata
Pen Parker , Cello
Car BMW,Honda City
Television Sony,LG,Videocon
Same related terms of branding -
• brand
• brand name
• brand mark
• trade mark
Okay!!! Now we know what is brand and it's related terms.
Now we have to understand What's the advantage of branding ?
Advantage of branding to the marketers
• Enable making product differentiation - it helps the marketers to differentiate their products from it's competitors.
• Ease in introduction of new products - if a new products is introduced under a know brand, it is likely to get an excellent start.
For example : Samsung extended the brand name of it's television to washing machine and microwaves, etc.
• A brand name helps a firm in its advertising and display programmes.
• Differential pricing - marketers can set price according to the brand name, value and equity from it's competitors.
Advantages of branding to the customers :
• helps in products identification
• status symbol
• Ensure quality
• Ensure original products from its duplicate products.
Okay!! Now we understand the advantage of branding to the marketers and customers.
Now let's understand why it is important for business.
Here, I'm going to discuss with you the 5 reason that why branding is Important for business?
• increase business and company's awareness and value -
branding really very helpful in increasing the branding value how it valuable for the customers and What's the positioning of your company in the mind of the customers. It all depends upon the branding. That how you show your brand to your audience.
branding really very helpful in increasing the branding value how it valuable for the customers and What's the positioning of your company in the mind of the customers. It all depends upon the branding. That how you show your brand to your audience.
It's also help in business awareness and identification that from which company that particular products are. And customers easily distinguish the products of your company without any confusion.
• Generate new customers -
if your brand value is good and you do proper branding of your products and company that peoples easily trust on you and your company and they get easily come to you for buying your products.
if your brand value is good and you do proper branding of your products and company that peoples easily trust on you and your company and they get easily come to you for buying your products.
• Improve customer satisfaction -
if your brand serves good quality products and services that your customers easily satisfy from your product and company. And no competitors can destroy your brand value and equity by selling your duplicate products.
if your brand serves good quality products and services that your customers easily satisfy from your product and company. And no competitors can destroy your brand value and equity by selling your duplicate products.
• Build trust in the marketplace -
if you do proper branding of your company than it takes a good position in the market place and easily build trust in the marketplace where your customers and others (investors, shareholders and other parties) easily trust on you and your company.
if you do proper branding of your company than it takes a good position in the market place and easily build trust in the marketplace where your customers and others (investors, shareholders and other parties) easily trust on you and your company.
And it's help you to occupying a better place in the mind of your audience. And you can easily play with your audience mind.
• help in advertising, marketing and business growth -
branding include various terms like
branding include various terms like
Logo, design, Value, trust, strategy, Advertisement and marketing.
Your brand logo and it's colour and sign/symbol must be attracted your audience. Define your business type what service you provide to whom (define your targeted audience) , it's help to decide your logo.
Design of your company, it means what the structure and business model of your company also define you brand and branding.
Value and trust also increase if your brand serves a good quality products and services.
If your brand name is good and people already know about you for example : BMW, Jaguar, they don't need to advertise their products because they have the good brand name in the market.
But what if your brand name not popular and small amount of audience know about you?
So, here comes the concept of how you can build your successful brand?
So here, I'm going to discuss about the
10 steps which helps you to build your successful brand
10 steps which helps you to build your successful brand
• Define your product and service
What's the product and service you gonna serve to your audience. And which category of audience buy your product.
What's the price are you gonna set for your product and service.
How will you pack the product and deliver through which supply chain (like: digital marketing, Chain/network marketing, personal selling, direct selling) you gonna supply your product to your audience.
• define your targeted audience
Which type of audience gonna buy your product?
Are they male or female?
Are they male or female?
Is your targeted audience children or adult?
Do they belong from high class, middle class or low class family?
Where they live, what's the location? Are they from urban area or rural area ?
Set your customers according to your product. Let's take an example :
Suppose you sell A product let's say, female perfume. So the question is who gonna buy this product, obviously females.... Right!!!
But this will also be bought by male for gifting his wife,girlfriend, sister, mothero female friend.
So, define your product and your target audience.
• define your brand vision and goals
Why you sale your product?
What's the goal or mission you set for your business and company.
What's the need and wants of your audience.
What's the tagline of your product and company.
Let's take an example like : Maggie
What's the tagline / slogan of product Maggie
(New tagline )- '2 minute for education'
(Old tagline)- " 2 minutes Noodles "
Kitkat
What's the tagline/ slogan of Nescafe
" It all starts with nescafe "
So what do these taglines & slogan define?
It all defines the vision of the company.
• serve better than your competitors
Always satisfy your audience better than your competitors.Only then you will be able to build good and trusted brand and occupy a good position in the heart of your customers.
Don't let your competitors win from you, always serve good quality products and services than your competitors.
• create USP ( unique selling point / purpose )
On which point you sale your products?
What's the different feature which differentiate you from your competitors.
Let's take an example of a big E-commerce launched a new unique features " Cash on delivery " Payment method. Which differentiate it from it's big competitor Amazon. The company is Filpkart.
• always take care of your customers
If your customers have any problem with your product and they are not satisfy with your product enough. Then it's your responsibility to solve their problem and respect their feedback about your product and always give a humble reply.
• market your brand
Do marketing your brand with digital marketing.
How?
You can use it's different elements and get better results and more audience.
It's 3 main elements :
• Social media marketing
• search engine marketing
• search engine optimization
• create a good brand logo and marketing strategy.
Now let's discuss what's the marketing strategy you need?
• Define your goals and stick to them.
• Define your competitors.
• Define your market environment
• Market your business with social media platforms.
And with the help of digital marketing.
• Make good public relations.
• work on cost leadership like Amazon and flipkart ( selling products on loss to win the heart of the Customers)
• work on product differentiation
• Make problem solving products.
• create your brand tagline which define your work and company/ products.
• stay honest and serve Best and good quality products to your audience which helps you build a successful brand.
Recap
• Branding is the process in which you use sign, symbol, color and logo which define your business.
• Advantages of brand to the customers that how the differentiate the products with other brand and company and marketers that how they serve their products which makes them different from its competitors.
• why branding is important for your business?
• 10 ultimate guide for build your own successful brand.
" BRANDING IS EVERYTHING "
Share your views with us. Why you need branding for your business?
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