| Branding is perhaps the most important
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| | direct marketing, give-away techniques,
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| facet of any business--beyond product,
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| | and multi-product cross-branding to
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| distribution, pricing, or location. A
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| | achieve maximum brand recognition and
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| company's brand is its definition in the
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| | visibility in not only its immediately
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| world, the name that identifies it to
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| | competitive market, but in markets as
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| itself and the marketplace. A model may
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| | diverse as Coca-Cola branded race cars
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| be beautiful, but without a name, she's
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| | and housewares.
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| just "that girl in that picture." Where
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| | Brand loyalty is an integral part of
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| would Norma Jean be without Marilyn
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| | building a brand, as consumers usually
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| Monroe, or who would imagine Coca-Cola as
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| | have a choice of products in the same
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| just a soft-drink manufacturer? A brand
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| | market segment, and so a successful
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| provides a concrete descriptor to
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| | company will come up with a way to keep
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| customers and competitors alike, a name
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| | consumers re-buying their product or
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| for a product or service to distinguish
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| | coming back to their location rather than
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| it from anything else. Bob may run a
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| | going to a competitor. These brand
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| hobby shop, but trying to advertise as
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| | loyalty-building efforts may come in the
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| "The hobby shop a guy named Bob runs down
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| | form of coupons, incentives such as many
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| the street a ways" is financial suicide.
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| | grocery chains' technique of "grocery
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| Each customer will have to describe the
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| | discount cards" or "loss leaders," meant
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| shop, who Bob is, and what the shop does
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| | to draw consumers into the store, where
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| every time someone asks about it. This
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| | they will hopefully buy products along
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| makes the process of recommending a good
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| | with the discounted fare at a higher
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| hobby shop too much work for the average
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| | profit ratio. In exchange for these
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| customer, and far too much work for a
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| | discounts and grocery cards, many
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| user looking for hobby shops on the
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| | companies collect information about
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| Internet. A customer looking up Bob's
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| | buying habits and average spending
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| hobby shop will have an easier time of it
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| | amounts, the better to tailor
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| if he or she knows to refer to it as
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| | advertisements and better-focus future
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| "Bob's House of Hobbies," and the
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| | promotional efforts. Once a consumer is
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| customer can then refer others to Bob's
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| | hooked, brand loyalty tends to result in
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| hobby shop by name, increasing the
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| | higher sales volume, as well as loyal
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| potential advertising exponentially.
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| | customers being less sensitive to price
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| Developing a brand involves more than
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| | changes of their favorite brands (within
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| just picking a catchy name and placing an
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| | reason, of course), as well as less
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| ad in the newspaper--a brand is more than
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| | sensitive to competitors' incentives.
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| a unique string of letters denoting a
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| | Studies have shown that it takes 5 times
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| particular product; a successful brand is
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| | as much money to gain a customer as it
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| a mnemonic trigger that makes a consumer
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| | does to retain one. That's 5 times as
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| feel a certain way when the brand is
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| | much money as could have been spent on
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| thought of. For those who drink
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| | other things.
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| cola-flavored soft drinks, which is more
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| | A brand is who your company is, and what
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| appealing on a hot day: a cold cola soda,
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| | it is selling--it is as important as
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| or an ice-cold Coke? Coca-Cola has spent
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| | naming a baby, and should require the
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| 100 years developing their particular
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| | same amount of effort to develop it, but
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| brand of cola-flavored soda as a
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| | if done well, can mature into a
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| refreshing beverage and a seminal
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| | successful and profitable adult.
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| representation of a market segment.
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| | © 2005, Wholesale Pages UK. All rights
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| Coca-Cola has used a combination of
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| | reserved.
|
