Have you ever been to a Big Bazaar on a Sunday morning? When you get bored with your list; it’s fun to watch your fellow shoppers struggle with theirs.
It’s amazing how some will pick a Colgate over Pepsodent. Some others will pick up a Dove over a Lux, and the more sophisticated ones will reach out for a Bodyshop. When you see a Johnson & Johnson and a Huggies in the same cart; you know that someone has just had a baby. When you see a cart loaded with Lays, Kurkure, Maggi, Top-Ramen, Wai Wai and the likes, you can guess that it either belongs to a bachelor or there are teenagers in the house.
Have you ever noticed how people don’t just buy toothpaste or soap? They don’t just buy baby products and diapers or eat chips and noodles. They consume brands. They don’t even go to the supermarket anymore; nowadays it’s called Big Bazaar!
Brands and Products Are Not the Same Things
And, this is what most entrepreneurs fail to realize! To begin with, the product is what you manufacture; the brand is the perception that a consumer has about you. In other words, the product is what you sell; the brand is what consumers are out there to buy.
So, you think you have come up with the next billion-dollar start-up idea? Great! Now, think about how you want to brand it. Come up with a relevant brand name. Design a logo that resonates with a powerful message. And, most of all don’t get carried away with features and functionality; get ready to tell your story.
Positioning: The flip-side of Branding
Let’s say that you are about to launch a new beverage in the market. But, the market place is already full, with big players like PepsiCo and Coca Cola ruling the roost. So, how do you make an entry in the market and make a niche for yourself? By finding a loophole, and positioning yourself accordingly. Do you know how Sprite did it all those years back? They positioned themselves as the Un-cola.
Positioning is the process of exploring the market and studying the competitors and market players to look for a gap; one that you can leverage to capture the space in the consumer’s mind that hasn’t yet been occupied. If you get this right; your brand will be ready to take off!
Benefits of Branding
- Having a strong brand helps to build consumer recognition. While shopping at a crowded place; the consumer will recognize your brand by its name, logo, and colors.
- In a competitive market, your brand is what separates you. It makes you stand out with a distinctive identity
- If you invest your resources to build awareness and credibility around your brand, you will end up with evangelists who will choose your brand over others. You will earn brand loyalty.
As an entrepreneur, your goal is to expand your business. This is what you do best. As marketers, our agenda is to brand your products and services and tell your story to the target audience through a mix of different channels. This is what we are good at. So, hey, why not team up? That way, you can mind your business, while we manage your brand!