The American Marketing Association (AMA) defines a brand as a “name, term, sign, symbol or design, or a combination of them intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of other sellers”.
Wow, that was a long definition. Okay so basically branding helps show that your brand for products or services are different from other people. Thus, it is really important that you don’t copy anyone else’s’ name, symbol or anything else. Why? You will look literally like a fraud, and we will go over this in another article.
It is important to know that your business is a type of brand. You could own other brands under your business. Take for example, Kelloggs. Kellogg’s is the owner of a slew of brands such as Eggo, Pop-Tarts, Special K, All-Bran, Apple Jacks, Pops, Nutri-Grain. (They have more, I’m just not going to list them all). You get the idea though. A brand can simply be the owner or multiple brand products or services. This holds true for even non-products or services. You might have a law-firm and you provide, for example, Immigration Services. You might come up with a clever product and call it “Quick Move”. You do a trademark on the name, this I will go over in another article as well, and bring it to the market. You can leverage this “Quick Move” name in order to gain grounds on differentiating yourself from all the other Immigration Attorneys in the area or in your determined market space.
A good brand will achieve the following:
- A Clearly Defined Message
- Shows that you are credible
- Connects to your target audience and potential clients/customers
- Brings Motivation
- Increases the loyalty
In order to achieve the above your brand has to it’s target audience and know their needs and wants. By integrating your brand strategies through your company at every point of public, or target audience contact, you achieve awareness.
When you build enough awareness you can potentially leverage this awareness to create loyalty and new sales. In the following articles we will start working on creating a comprehensive branding strategy.