Saturday, 3 September 2016

How to Become a Marketable Brand

A brand is a name used to identify a company and its products or services. Having a marketable brand implies it's sufficiently well known that it can help the company attract new customers, such as when a retail store expands into a new area. A brand is a concept that isn't just applied to large companies. A local restaurant with a good reputation and a loyal customer base has created a brand that can be used to build clientele if the owner decides to open additional locations.

Step 1
Create a name that customers can remember and is related to the products or services you offer. Brand names can be one word or several. They can be straightforward, artistic or even whimsical. Make sure whatever you choose is something you're certain will work over the long term, because once the consumer becomes familiar with the name, it's difficult and potentially costly to change it.


Step 2
Choose a name that's generic enough to allow your company to grow and offer additional products or services. A small food manufacturer may start off making only salsa but after becoming successful may decide to offer related southwestern food products. If the owner has the term “salsa” in the brand name, it could serve to limit the company’s scope in the minds of consumers.

Step 3
Recognize that you build your brand through customer satisfaction. Spending money on a striking, memorable logo design won’t help you build your brand unless your customers are satisfied and recommend your business to their friends or associates. It takes time to build a brand that's recognized as representing high quality goods or services. Challenge your employees to maintain as close to 100 percent customer satisfaction as they can from day one.

Step 4
Do one thing really well so your brand name will be associated with that quality. A gourmet meat store might emphasize that they offer prime beef -- and that other nearby stores don’t. It can then put the word “prime” on everything it presents to the marketplace. Eventually, consumers will remember the store as the place to go when they want prime beef for special occasions.

Step 5
Use a mix of media to build customer awareness of your brand. Put your brand name everywhere -- on signage at your location, on product packaging labels, on vehicles you or your employees drive, on coupons you offer in mailings to consumers, and on brochures you distribute at local events. Every time the consumer sees your brand, it increases the chance she will remember your business the next time she needs what you offer. You don’t need an expensive TV advertising campaign, for example, to build a brand name.




Source: Small Business

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