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Branding, The How’s, What’s And Why’s

Your business brand says a lot about you and your business.  If you create a strong brand image, it will elevate you above your peers and provide a good model for your product and service development as well as a sound foundation from which to expand your business.

So what is Branding?

Many people think that having a logo and maybe a short description of their services is all they need to set up their brand.  This is not so.  Your brand encompasses all that your business does, from first contact with your potential customers through to how your products are defined and sold.

Your brand is what defines and describes your business.  Look at any two different companies that compete in the same market and look at how people recognize and remember them.

For example look at Rolls Royce and Toyota - they both sell cars but each company is known for a different reason.  Someone looking for a car on a budget would not go to Rolls Royce - yet both sell their cars on reliability.

Clearly more people would aspire to purchase a Rolls Royce, but many also be happy to purchase a Toyota.

Look again at the perceived value of a brand.  Why is the iPod the desired MP3 product when other brands have similar properties and reliabilities?  People perceive the ipod to be superior and are willing to pay more for the pleasure of owning one.  Indeed many people would not consider any other purchase.  This is clever branding by Apple who marketed their product as being very desirable to certain markets.