Friday, May 22, 2015

FAQ's About the Branding Process

Last week I was going to write about branding your product. However, I got side tracked. So this week I'm going to use the Free Management Library that I referred to in my blog last week along with some other sources to get a clearer picture of the definition of branding and what it involves.

I've been thinking about what is a brand and how to achieve it. My shop isn't quite up to par in this area. My goal in the beginning was to get my handmade items listed so people could find them and buy what I had to offer. I believe in a slow even process when building a business. So now I want to work on branding so people will eventually come to easily recognize my products just as much as one would Coke, Coach, Disney, Ford, etc. I know that it doesn't come overnight, but a gradual process instead. 

Since I wanted to know more about the branding process, I thought I would share with others what is involved by developing some general FAQ's on the subject.

1. What is a brand?
According to Yahoo dictionary, a brand is the following:

  • A trademark or distinctive name identifying a product, service, or organization.
  • A product or service so identified.

  • An association of positive qualities with a widely recognized name, as of a product line or celebrity.

    2. What does a brand incorporate?
    It includes the company name, all the logos, slogans, design colors, perceived images and types of values portrayed.

    3. What is a logo?
    Again, the Yahoo dictionary defines it as:
    A symbol or a design that identifies a brand.

    Here are some popular logos:

     This is my logo.

    4. What is a slogan and it's purpose?
    Wise Geek defines it as the following:
    "A slogan . . . is a short phrase or sentence meant to gain attention and to get a specific message across quickly. People us it primarily in advertising . . . trying to make the public more familiar with someone or something. 

    The purpose of a slogan is to communicate information about a company, product, service or candidate, helping people to become familiar with and remember what's available. . . . differentiates whatever a company or other group is promoting from what the competition has to offer."

    Some popular slogans:
    • Coke is the real thing -- Coke
    • Finger-lickin' good --KFC
    • Have it your way -- Burger King
    • A diamond is forever -- De Beers
    • Built Ford tough! -- Ford Motor Inc.
    This is my slogan: Your Style, Your Mood, Your Personality

    Why?? Because I believe that everyone has a different style; moods affect the way one shops, and who you are as an individual defines what you buy.

    5. Why is color so important when designing a logo for your brand?
    Here's some interesting facts about color.
    • 84.7% of consumers cite color as the primary reason for buying a particular product.
    • 93% look a visual appearance.
    • 80% of shoppers think color increases brand recognition.
    • Ads in color are read 42% more often than the same ads in black and white.
    • Color can improve people's comprehension, learning and reading levels.
    • Every color elicits a different response from humans.
    6. What's in a name?
    According to the online library, your business name conveys the nature of your service and your unique value proposition. An unique value propositon does the following:
    • Concisely describes of your product or service. 
    • Explains the uniqueness of the product or service.
    • Why people should buy from you instead of the competition
    The business name and brand has to make sense locally and understood by others if it's extended beyond the region to other areas of the world. For instance, my business name is Purse O'nality by Mary. I would hope that people would understand that my business has something to do with purses, and my name is Mary.

    7. How do you build a brand?
    • Develop name recognition by building an image of your business or service
    • Create a clear and concise message about your company or product through logos, slogans, and colors
    • Showcase what sets your business or service apart from the competition
    • Create and build consistancy
    As I stated earlier, building a brand takes time. However if done correctly, success will create loyal customers and increasing sales. Just like a business plan, a good brand name is another essential ingredient to a successful business.