Branding Your Business a Success

This is guest post by Kelly Kilpatrick

Why is a T-Shirt that’s tagged with the name Nike (I’m assuming it’s original and not a rip-off) so much more expensive than one that’s not? The answer is simple – the brand raises the value of a product by an amount that’s proportional to the popularity and widespread acceptance of the brand. It’s simple mathematics, but one that boggles the mind. It’s amazing to think that people are willing to pay more just for that small logo on the shirt when they could have an equally good generic one (not that they would agree with this). And this people, is the power of branding – the pull that a word or acronym can have over the masses.

Not everyone can get their brand to work the same magic; for branding to be effective,
  • There must be some form of status attached to it: Cartier watches, BMWs, or even Nike shoes – if celebrities or other important people are seen endorsing or wearing these brands, they gain the reputation of must-have status symbols for the wealthy (and the not so wealthy). And this is because people like to imagine that they’re famous too, by association. The product or status symbol puts them in the same league as the celebrities who patronize it.
  • It must appeal to a wide cross section of society: And that’s why we see brands like Wal-Mart and Cosco enjoy so much success – they offer a wide range of goods, all under one roof, and at prices that are cost-effective.
  • The product must be unique: If you’re manufacturing or offering something that is unique or offered only by a few others, your brand stands a great chance of climbing up the popularity ladder. Although other companies are sure to jump on the bandwagon when they see how much in demand your product is, you as the pioneer will enjoy a huge amount of success.
  • It must be popular: We know now why Apple is way ahead of the competition even though it’s not really a global brand. The computer manufacturer made waves with the introduction of the iPod and related products. And although the Mac is not a very common PC outside the United States, it has gained the enviable reputation of being an operating system that is not as susceptible to malware like its counterpart Windows from Microsoft.
  • There must be quality: I’ve saved this point for the last, but this is probably the most important aspect that will stand the test of time. Popularity and status may wax and wane, but if you offer products and services that do not compromise on quality, you’re bound to have a loyal following of customers for as long as you exist in business.

This post was contributed by Kelly Kilpatrick, who writes on the subject of internet and cable packages.

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