Branding
- Tuesday, April 6, 2010
To understand the marketing concept of "branding" just think back to the Wild, Wild West. Ranchers branded their cattle with a distinctive mark as a way to make sure they received payment for their cattle at the point of sale. The "brand" was, in effect, a logo, and its symbol became associated with all parts of the rancher's business.
Today's branding of your "business" property is far more involved than simply creating a great logo. Why? Your logo is like a small ad for your company, but branding is the marketing strategy behind the logo. Besides having a company logo, you need to develop a brand strategy.
Your brand resides within the hearts and minds of customers, clients, and prospects. To succeed in branding, you must understand the needs and wants of your customers and prospects. Your strategy must allow your audience to recognize that you are talking specifically to them. This often requires companies to narrow down their target market. Just ask any fisherman how to catch their specialty. For some, casting a wide net into the ocean is best; for others the key to success is using specific bait in a well-stocked pond.Labels: advertising, branding, marketing
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