Browse Month: July 2018

Branding – How to Succeed

Brand Management

Negative Brand Equity

In the previous discussion on brand equity, one aspect needs consideration. It is this – is it possible for brands to have negative brand equity? Consider now both sides of the conundrum:

From one perspective, brand equity cannot be negative. The application of effective marketing by way of a combination of advertising, public relations, and sales promotion unequivocally gives rise to positive brand equity.

From another perspective, however, there is a case to support the belief that negative brand equity can exist. The validity lies in the characterization of a political brand. A pertinent example is that, at a particular moment in time, the Democratic brand may be judged to be negative in respect of the Republican brand in the sense that the former is performing poorly compared with the latter. On the other hand, of course, the contra may be the prevailing truism.

Retail Brands

Retailing – This is defined as the sale of goods or merchandise from a specified location, such as a department store, or by mail, in small or individual quantities for delivery directly to the purchaser.

Private Brand – This usually involves a retailer, who buys in bulk from a manufacturer, and arranges for the product to bear its own name. This strategy is only feasible when the retailer deals in very high volumes.

The advantages to the retailer are:

Greater freedom and flexibility in pricing

Greater control over product detail and quality

Higher margins or lower selling price, whichever is appropriate

Manufacturer’s promotional costs are minimized

The advantages to the manufacturer are:

Minimal promotional costs

Dependable sales volume

Store Brand – Also known as Own Brand in the UK, it refers specifically to retail stores or store chains. The retailer has a number of choices, viz. to manufacture goods under its own label, or re-brand private label goods, and even outsource manufacture of store-brand items to various third parties (who are often the same manufacturers that produce brand-labeled goods).

Store branded goods are, in most cases, cheaper than national-brand items since the retailer can maximise the production to suit consumer demand whilst, at the same time, reducing advertising costs. In certain retail sectors, it is possible for store brands to account for 40-50 percent of total sales.

Since store branding is a mature industry; then some store brands have been able to position themselves as premium brands. It is not unusual for store-branded goods to style themselves on the shape, packaging, and labeling of national brands so as to acquire premium display treatment from retailers.

Some retailers take the view that, whilst advertising by premium national brands attracts shoppers to the store, none the less, the retailer invariably makes more profit by selling a store brand in preference to a premium brand. In the majority of cases, while store brands are usually cheaper than national brands, they remain more expensive than generic brands (products with no brand name, e.g. Cola) sold at the store.

The “no-frills” grocery chains, such as Aldi, principally sell store brands in order to promote lower prices. In comparison, supermarket chains sell several brands over and above other products.

Why Branding is Important For All Businesses

How much thought and investment you have allocated to your business brand? Do you aware of the importance of building a strong business brand? What is Branding? This article answers all your questions regarding branding! By definition, Branding is a marketing technique in which a company creates a name, symbol or design that is easily identifiable as belonging to the company. This helps to identify what you sell, and distinguish it from other products and services. Brand is also called as “Face of your Business” and it describes your brand personality! Your brand should be the true perception of who you are, what your business is, and how you wish to be perceived. Do you know why branding is important for your business? Here are the top 4 compelling reasons explained the leading branding agency Sydney

Branding – Grows Your Reputation

Well-designed logo is important to grow your business reputation and this will also help you to establish your business. It makes it easier for customers to remember your business, recognize and refer you to their friends, colleagues and family members. Your logo should be on your website, social media profiles, business card, physical business location (if you have one) and on printed promotional products.

Branding – Helps You Win Investment

A well-known, strong brand can help you generate future business and even increase your business’s ROI by giving you more leverage in your industry. Creating unique, yet well-designed logo or brand creates a more interesting investment opportunity because of its firmly established place in the marketplace.

Branding – Help You Win New Customers

If your brand is well-established, word of mouth can become the most effective brand advertising technique. A good brand will acts as a reference to win more businesses. Strong branding means there is a great positive impression for your company among the customers.

Branding – Boost Employee Pride and Satisfaction If an employee works for a company with a well-respected and well-established brand, they will feel more satisfied with their job and they have a higher degree of pride in the work they do. Branding your workplace and offering promotional giveaways to the employees can also help to reinforce the strength of your brand.

Corporate Branding – Things To Know

If you wish to achieve success in running your business, organization, you have to ensure that you are taking proper your image as well as reputation via efficient Corporate Branding. Be aware that even the most solid business establishments could be brought down following facing a controversy. Which is regarded as extremely damaging because it has been proven that redeeming an organization’s impression is much more difficult and costly compared to losing an excellent sales deal. In case your reputation, like a business owner, is definitely ruined, then you’ll have a hard time fixing the harm until this will cause for your entire organization. Here are some reasons why an excellent corporate reputation, image as well as branding is very important for the business:

Brand

It’s an effective promotional as well as a marketing tool. In case you serve your clients excellently, after that expect them to remember you. You will get good feedbacks and this will help you generate increasingly more customers. Most the public will have a tendency to start investing their hard earned money on your own services and products if you are adequate in performing that which you have promised to your previous clients. An excellent thing about using a good corporate image is you will no longer need to invest a lot of time attempting to convince your potential clients to try out that which you offer. Your previous customers who’re greatly satisfied of the service will end up your unofficial spokespersons. This can help your business into probably the most trusted and respectable organizations in the market.

An excellent Corporate Branding exhibits your credibility as well as integrity. As your reputation can also be your identity, you really sure that you brand your business within the most credible way. Be aware that in case your organization doesn’t have credibility and integrity, then the lot of individuals will have a hard time thinking you. It will likewise be extremely hard that you should prove your integrity in case the public hears your prior clients talking negatively regarding the services of the company. Due to this, you have to be careful in performing all your actions.

It determines self-confidence, devotion, trust as well as stronger customer connection. When creating an untainted corporate image, it’s not enough that you should avoid scandals as well as controversies. It’s also essential for you to ensure that you fulfill the expectations of the clients. To ensure that you to successfully brand your business and build a much better image, you have to continuously observe excellence as well as perfection. This will allow your customers to feel a stronger feeling of security. It will also be simpler for you to create an even stronger relationship along with them. You may also expect these to recommend your company to folks which they know, thereby enabling you to increase your market. These are merely some of the many things that the effective Corporate Branding can perform for your business. Thinking about many of these, it is just better for you to start searching for a strategy to successfully brand your business and set up a good reputation.