Apr 12, 2010

Building a Brand

Brand management is the most important part of overall marketing strategy of the company - This will change your customers mind if focused properly. 
For building a good brand, there is a need to answer some vital branding questions;
How good your product or service - what customers think about your product/service, what you offer to them better relative to competitors, analyse the your offering in a real way without giving any favor. 
Then ask question to yourself, what I am here - the purpose and vision of your business 
How can I serve well - what steps needed or helpful for you in getting success and consumer's attractions. 
Who can I Serve - what are your target market, are you did segmentation or not, what is the profile of your customers. 
After answering the above mentioned questions, you will get a clear picture about your business, target market and your offering and now will move towards the brand development. 
Then you have need to do market research and competitor research too in order to answering following; 
How can I serve better or differently - first find the similarities in offerings between you and your competitor and then try to develop points of differentiation, the features or benefits that your competitors not focusing on. You must think deeply and differently. 
Why customers use your product or service, what benefits they get, is your service or product unique from others, are you provide more services related with product, is your product more convenient and reliable. 
What is your positioning statement, on what features and benefits you focus while doping advertising. Are you try to involve customers in the form of creating memorable experiences or talk about product's specifications. 
This all leads to the developing of a good brand. 
           Must consider that branding is the philosophy of changing minds. 
You will need to continuously track your brand and analyse your customers positive brand relating associations. Increase in brand equity - increase in customer equity, and customers engage with your brands. 

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