This article discuss about branding and what it entails. The word branding in Marketing means the promotion of a particular product or company by means of advertising and distinctive design.
A brand is the name, term, design, symbol or any other feature that recognise one seller's good or service as distinct from other sellers or competitors. Brand are used in business, marketing and advertising for identification and, most notably to create and store value as brand equity for the product identified, to the benefit of the brand's customers, its owners and shareholders.
Name brands are sometimes distinguished from generic product name or store brands name.
The branding concept expended to include marketing and communication technique and tools that help to distinguish a company or products from competitors, aiming to create a lasting impression in the minds of the customers.
The key components that form a brand's toolbox include brands identity, personality, product design, brand communication (Logo and Trademarks), brand awareness, brand loyalty as well as varied branding strategies.
In the 21st century many companies believe that minimal differentiation between several types of products, hence branding is among a few remaining forms of product differential.
Brand equity is the measurable totality of a brand's worth and is validated by observing the effectiveness of these branding components. As markets become increasingly dynamic and fluctuating, brand equity is built by the deployment of marketing techniques to increase customer satisfaction and customer loyalty, with side effects like reduced price sensitivity.
A brand is, in essence, a promise to its customers of what they can expect from products and may include emotional as well as functional benefits.
When a customer is familiar with a brand or favours it incomparably to its competitors, a corporation has reached a high level of brand equity.
Special accounting standards have been devised to assess brand equity. In accounting, a brand defined as an intangible asset, is often the most valuable asset on a corporation's balance sheet. Brand owners manage their brands carefully to create shareholder value.
The word "brand" is often used to refer to the company that is strongly identified with its brand name. Marque or make are often used to denote a brand of vehicle, which may be distinguished from a car model. A concept brand is a brand that is associated with an abstract concept, like breast-cancer awareness or environmentalism, rather than a specific product, service, or business. A commodity brand is a brand associated with a commodity.
How to Sell your Brand as a Product
COVID 19 has devastated the UK economy, and the country just exited the EU on the 31/01/21. Two majors’ economical events as impacted greatly small businesses and large business.
The Lockdown has shut down many businesses due to fear gripping the world over catching the deadly COVID19 virus. New jobs has been created and the sales of face masks, and hand sanitiser, app restaurant, online business selling clothes and other essentials item thrive. Supermarket shops increase their revenue.
However, marketing company for businesses start-up and grow services decline, hairdresser, and other industries products or services nonessentials during the crisis; closed temporarily until the permission to re-open is granted. There are numerous online marketing companies and due to the perceive value that it is easy. However, marketing is a science as well as its applications.
Girlfridayz Marketing needed to differentiate and make our online business shine. The marketing industry marketplace is crowded, and we needed to be considered as a valuable brand to use its services as any other products or services available amongst the sea of competitors.
Here what we used to make our company Girlfridayz Limited as a branded product providing Traditional and Digital marketing to start-up and SME’s and individuals. We wanted a competitive advantage by penetrating the market, diversification and we wanted our brand to be perceived as a product available in the market. Therefore, we made our online business as a branded product. Here the result of our thought and design.
Please feel free to share your thought and consider using our multichannel interlink services for a perfect customer journey through girlfridayz.com result-oriented services to support you start-up or grow your business.