Article by Laura Lake, The Balance Small Business
“There is a lot of confusion around branding and exactly what it is. Decades ago branding was defined as a name, slogan, sign, symbol or design, or a combination of these elements that distinguish one product or service from another. The brand of a product or service differentiated it from the competition.
Today brand is a bit more complex, and even more important in today’s world of marketing. It’s the perception that a consumer has when they hear or think of your company name, service, or product. The best example is Nike’s swish which conveys a sense of speed and movement.
What Should a Brand Do?
Branding is not just about getting your target market to select you over the competition. It’s also about getting your prospects to see you as the sole provider of a solution to their problem or need. In its essence, branding is a problem-solver. Even Nike’s swish tells the consumer that this sneaker will solve your problem of running too slowly. The swish makes every consumer feel like an athlete.”
The objectives that a good brand will achieve include:
- Clearly deliver a message
- Confirm your credibility in the marketplace
- Emotionally connect your target prospects with your product or service
- Motivate the buyer to make a purchase
- Create the magic bullet of user loyalty