| Brandingis perhaps the most important
| |
| | market segment. Coca-Cola has used a
|
| facet of any business--beyond
| |
| | combination of directmarketing, give-away
|
| product,distribution, pricing, or
| |
| | techniques, and multi-product
|
| location. Acompany's brand is its
| |
| | cross-branding to achievemaximum brand
|
| definition in the world, the name that
| |
| | recognition and visibility in not only
|
| identifies it toitself and the
| |
| | its immediately competitivemarket, but in
|
| marketplace. A model maybe beautiful,
| |
| | markets as diverse as Coca-Cola branded
|
| but without a name, she's just "that girl
| |
| | race cars and housewares.
|
| in thatpicture." Where would Norma Jean
| |
| | Brandloyalty is an integral part of
|
| bewithout Marilyn Monroe, or who would
| |
| | building a brand, as consumers usually
|
| imagine Coca-Cola as just a
| |
| | have achoice of products in the same
|
| soft-drinkmanufacturer? A brand provides
| |
| | market segment, and so a successful
|
| aconcrete descriptor to customers and
| |
| | company willcome up with a way to keep
|
| competitors alike, a name for a product
| |
| | consumers re-buying their product or
|
| orservice to distinguish it from anything
| |
| | coming back totheir location rather than
|
| else.
| |
| | going to a competitor. These brand
|
| Bob may run a hobby shop, but trying to
| |
| | loyalty-building efforts may comein the
|
| advertise as "The hobbyshop a guy named
| |
| | form of coupons, incentives such as many
|
| Bob runs down the street a ways" is
| |
| | grocery chains' technique of
|
| financial suicide. Each customer will
| |
| | "grocery discount cards" or "loss
|
| have to describe the shop,who Bob is, and
| |
| | leaders," meant to drawconsumers into the
|
| what the shop does every time someone
| |
| | store, where they will hopefully buy
|
| asks about it. This makes the process of
| |
| | products along with thediscounted fare at
|
| recommending a goodhobby shop too much
| |
| | a higher profit ratio.
|
| work for the average customer, and far
| |
| | In exchange for these discounts and
|
| too much work for auser looking for hobby
| |
| | grocery cards, many companiescollect
|
| shops on the Internet.
| |
| | information about buying habits and
|
| A customer looking up Bob's hobby shop
| |
| | average spending amounts, thebetter to
|
| will have an easier time of it ifhe or
| |
| | tailor advertisements and better-focus
|
| she knows to refer to it as "Bob's House
| |
| | future promotionalefforts. Once a
|
| of Hobbies," and thecustomer can then
| |
| | consumer is hooked,brand loyalty tends to
|
| refer others to Bob's hobby shop by name,
| |
| | result in higher sales volume, as well as
|
| increasing thepotential advertising
| |
| | loyalcustomers being less sensitive to
|
| exponentially.
| |
| | price changes of their favorite brands
|
| Developinga brand involves more than just
| |
| | (within reason, of course), as well as
|
| picking a catchy name and placing an ad
| |
| | less sensitive to competitors'incentives.
|
| in thenewspaper--a brand is more than a
| |
| | Studies have shown that ittakes 5 times
|
| unique string of letters denoting
| |
| | as much money to gain a customer as it
|
| aparticular product; a successful brand
| |
| | does to retain one. That's 5 times as
|
| is a mnemonic trigger that makes
| |
| | much money as could havebeen spent on
|
| aconsumer feel a certain way when the
| |
| | other things.
|
| brand is thought of. For those who drink
| |
| | Abrand is who your company is, and what
|
| cola-flavored softdrinks, which is more
| |
| | it is selling--it is as important
|
| appealing on a hot day: a cold cola soda,
| |
| | asnaming a baby, and should require the
|
| or an ice-cold
| |
| | same amount of effort to develop it,
|
| Coke? Coca-Cola has spent 100
| |
| | butif done well, can mature into a
|
| yearsdeveloping their particular brand of
| |
| | successful and profitable adult.
|
| cola-flavored soda as a refreshing
| |
| | © 2005, Wholesale Pages UK. All
|
| beverageand a seminal representation of a
| |
| | rightsreserved.
|
