Monday, May 09, 2005

Brand-age!

A nice article came in March on branding at brandchannel.com.
It emphasizes on the significance and relevance of branding in the market.
"Branding is about making your product or service known to as many potential
customers as possible, consistently, with the most effective use of your time
and money. Branding is about repeat business. Branding is about effortless
referrals. "
A set of questions need to be asked, to introspect your brand strength and worthiness, according to Kim Castle.

1. Am I really passionate about what I am doing with my business, service or product?
2. Do I have a big vision of my business, service or product? One should have a plan for the near future, but make sure that the sum of parts is the long-term perspective of the entire business. Achieving small targets is not your goal, it is just a means to achieving the goal !
3. Is my product or service a real benefit to lots of customers? Is the target customer of critical mass?
4. Am I prepared to surround myself with a team or the knowledge to accomplish the business success that developing my business as a brand delivers?
Apart from this, there could be a few more pertinent questions -
5. Is there a "differentiating factor" or a USP in my business, service or product, compared to
a) the rest of the brands in the same category? (I am not aping an existing product or idea, and there is an element of originality also!) and
b) in the entire ambit of products. business or services around it? ( I could be manufacturing a whole set of fast-moving goods, but communication to be sent is intended for a specific product only)
6. Is there a message which my business, product or service can connect with, and which can be "effectively" communicated to the consumers?
7. Does the message/communication cover the entire set of products/services I plan to include, without any particular set being overlooked or overemphasized? Also, make sure that the message follows my work, and not my work follows the message !



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