What is Branding?Branding is a procedure to define the company and is tied closely with her marketing strategy. 1. What is the quality of the products or services being offered? 2. Was the pricing of the products or services high or low? 3. What are the top values the company emphasises? Of course, we want to have all the good values. But then we are talking about the top values that we emphasise. 3 qualities should be good enough. How Are Your Company VS Your Competitors?Compare the quality and pricing of your products or services with your competitors. From there, you will know your company's market position. This concept is known as positioning in marketing. SWOT AnalysisWe can use the SWOT analysis to help in creating our branding and discover our brand position. There are four parameters to examine in this analysis: Strengths, Weaknesses, Opportunities, and Threats. Internal environment: Strengths: The advantage of the company and it's products over its competitors. Weaknesses: The disadvantage of the company and it's products over its competitors. External envrionment: Opportunities: Ways to develop the company or it's products. Threats: Anything that could hinder the success of the company.
Memory LimitationWe can't expect consumers to read our manifesto and remember one whole list of values. A few good points will create a better impression than a list of points. Those few good points will be what others remember your company for, which is your brand. Pattern RecognitionOur daily routine will be like this: waking up, cleaning ourselves, drinking a cup of coffee, going to work, returning home, and going to bed again. Our brains recognise these daily patterns. These patterns are also known as mental shortcuts. Our brains are constantly looking for mental shortcuts so that they can process information easier and faster. In other words, our brains store previous experiences to help us deal with future tasks. You might say these are just habits. We sat at our favourite spot to watch television programs, drinking coffee instead of tea... Yes, branding is kind of developing habits. Branding- Creating Pattern Recognition For ConsumersA successful brand is when we think of certain services, products, or events, we immediately think of that particular company. This is how branding should work. If this direction is set up right, the company will be on their way to brand themselves perfectly.
Brand = Identity + ConnectionConnect your brand identity to certain activities or objects, so as to make your brand name catchy. Important Points For Brand BuildingTo Do List
Singlish Dictionary: Prata - Roti Prata, a popular Singapore dish in which the dough is flipped several times. In this context, it refers to the act of flip-flopping. Don't Do List
Example of Good BrandingExample 1: Coffee Culture ConnectionConsumers can relate Kopi 'O' with Chinese Kopitiam and Cappuccino as Western Cafe. Branding is connecting the company to certain values, products, or services. Some may like to include as many products as possible to increase revenue. How about combining these 2 beverage shops? Having both Kopi 'O' and Cappuccino sounds like an awesome idea, offering clients with more choices.But the shop will lose both the authentic Nanyang Kopi and the "Ang Mo" feel. It is not totally impossible to combine the east and the west, but it is difficult. This may even end up backfiring. Anyway, my point here isn't about blending cultures. I am talking about not blurring the focal point of your company's direction. Singlish Dictionary: Kopi 'O' - Black Coffee, basically is just coffee with sugar, no milk. Kopitiam - A place that sells Singapore's local beverages and foods. Ang Mo - Westerner
Example 2: Antique ShopSpecialisation Vs "Have It All"An antique shop at China Town sells genuine antiques. Over the years, they have gained public trust that they do really sell historical, memorial items. Hoping to increase revenue, the shop owner decided to sell replication at low prices. All items' details are clearly stated with their respective prices. An honest boss indeed. But he might still lose the public trust. Doubts might still arise. Does he really selling antiques? Is it worth trusting him? With lower priced products in his shop, buying from him will no longer have the royalty feel. High pricing of the real antiques, don't seem to be as justified as before. "Don't Run Your Business Like A Provisional Shop Unless it is --- Alan Lee" Lets Sum UpFrom the coffee example, we see that culture can be part of a brand. The antique example shows us that product and pricing affect the brand too. There are lots more things that affect a brand, such as logo design, packaging ... In short, anything that identifies your company is your brand. Need Further HelpThere are professionals who can help you through the branding process. Their pricing are usually high. But looking at the bigger picture, branding can help your company grow gradually, bringing in returns in no time. Therefore, it is still worth investing in your brand. Anyway, this is a one-time charge for decades. No one will like to keep on rebranding. Editor's Note:
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