What is a Brand?
A brand name is nothing more than a word in the mind; A brand name is a noun, a proper noun, which like all proper nouns is usually spelt with a capital letter. You are a brand, and if you want to be truly successful in your personal, professional career life, you must consider your self as a brand and act accordingly.
How many Trademarks in the world?
Do you know there are 1,200,000 trademarks registered in the UK government? Just imagine how many additional millions of names and logotypes registered with other countries around the world. The power of a brand lies in its ability to influence purchasing behaviour.
Think, in New Zealand water is absolutely free, you may go to a restaurant,café for dining and you can have your water for free. Every person in New Zealand has access to good clean water out of the tap.
Generally, there is no need to buy water from Countdown or Pak n Save. But think Perrier water bottle priced at $ 10 and Pump water priced at $ 2. Perrier water in New Zealand selling 50% more than Pump. That is the power of branding.
You tell me,
Can you make happy everyone, you may be the most admirable person in the world but can you make satisfied everybody? In my opinion, NO. I believe if you want to make everyone happy the best thing you can do is sell Ice-cream.
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Can a successful brand appeal to everybody? Absolutely not!
Think Chevrolet. What comes to your mind now is, large, small, cheap, expensive, Inexpensive, car, truck
van. Chevrolet put its brand name for everything. In 1980 and 1990 the best-selling automobile brand was Chevelort. So what t hey did was, they wanted to sell more cars to increase their profitability in the short run, so they introduced ten separate
Cavalier, Monte Carlo, Malibu,Lumina, Camro Caprice, Corsica-Beretta, Metro Prizm.
General consumer doesn’t remember like this. They remember only one brand name for each product.
Now have a look at Ferrari as a brand, if you ask from any person what Ferrari is? The answer will be an expensive fast driven sports car. They did not use the mega branding strategy for their products portfolio.
Just ask from your self, How many teeth you have in your mouth? I believe 32.but Procter and Gamble (P&G) introduced 38 varieties for us. So can you remember what flavour did you brush today morning?
Are you for some, or for all?
Think about Men’s favourite product, and every man remembers Gillette. You may extend your product line to gain short term sales revenue. However, in the long run, you will weaken your brand name. If you want to build a strong brand for your self or your organisation, you need to contract your brand, not expand it. You are for some, not for all!
As a person, when you do some work over and over again, you will be more influential and specialise in your routine work. Same goes with your brand. The brand becomes stronger and stronger when you narrow its focus.
In Invercargill, there are many coffee shops, Caltex, FB pies, Auction hose, Global Byte Café, Colombus Cofee, and many more.
Invercargill many students are studying at SIT. when I ask what is your favourite coffee shop most of the students’ answer is “Starbucks.”
So what did Howard Schultz do? He is the founder of Starbucks. He Narrowed his focus and specialised in world-famous Coffee. That’s why you and I spend an extra dollar for Starbuck coffee.
What do you think about Sandwiches, every Mom and Pop shop sells sandwiches. So if you are hungry now, and you want to eat footlong lunch, what comes to your mind? SUBWAY.
Fried De Luca, the founder of Subway, narrows his brand only for submarine sandwiches. There are more than 250 Subway outlets only in New Zealand and globally more than 40,000 outlets.
What he has done is concerned operation strategy. When you make only sandwiches, you will be pretty good at it. So as an individual, when you focus on one thing, you will be specialised in that, and you will become a brand in your category. Good things happen when you narrow your focus.
Building a Brand is not easy;
Building a Brand is not easy; it is incredibly hard. I was working for DSI tyres in Sri Lanka we were exporting bicycles tyres for more than 40 countries, and for me to build DSI tyre brand in Brazil market was incredibly hard.
Why? To compete with major brands like Kender, Schwalbe, Leverone, Caloi, you need to have a hefty advertising budget. So what is the best option? Merge with leading tyre manufacture in Brazil to enter to the market, which is Caloi. In Brazil, most of the bicycle parts were imported from China, and due to the Anti-dumping tax in the year 2013 DSI tyres were the first to enter to the Brazil market.
Today Brand is born, not made. To enter a market or generate publicity, you need to be first in the market. Which means you need to be in first in a new category.
What comes to your mind if it is Xerox– The first plain-paper copier
What is Playboy -The first Men’s Magzine.
What is KFC -The first fast-food chicken chain.
What is CNN -The first cable news network.
Everyone can’t be visionary, like Steve Jobs, Elon Musk or Bill Gates
I believe you no need to build a super cool innovative product to the market, everyone cant be visionary, like Steve Jobs, Elon Musk or Bill Gates.
But you can create a super niche category in your own industry and be the first in that category. Keep doing small changes every day, which will make a more significant impact in the future.
Now you tell me, my friend?
When you go to the gym for a day and do exercises for 4 hours, what will happen? Nothing.
Then you go the next day for four hours what will happen? Nothing.
But if you go to the gym for an hour every day what will happen? For sure, you will have a perfect shape. So then can you stop? No, Not at all! You need to keep going to the gym rest of your life to maintain your body
The same thing in branding once you enter the market, you have to maintain your brand. Now advertising plays a vital role.