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Building A Brand- Strategies And Things To Keep In Mind

Steps for creating a brand· Select a Brand name and Logo · Know your target audience and establish your brand in their minds. · Choose a Brand Sponsorship · Now, start developing your Brand. Brand EquityCreating a brand is just like forming a business, it takes time and energy but gradually becomes a strong entity. Creating a Brand Equity comes over a period of time leaving behind a loyal customer base. Brand Equity is created when the consumers react more positively towards a brand as compared to other competitive or similar brands. The customers have a comfort zone and authenticity attached to a brand and this is called brand equity. When people trust and prefer your brand over others. Steps for developing a Brand strategy1. Selecting the Brand name and Logo Before even starting to plan a Brand Strategy, one must think about a name of the brand since, a name is obviously mandatory without that no one would be able to recognize your brand and also it adds style and positives to a brand or product’s success. The name should be easy to recognize and remember, easy to pronounce and it must have a proper meaning. But most of all, the name should suggest something about the product. There are many good established brands across the world who have one thing in common and that is there translatability in different languages. Therefore, one must keep true to the meaning of the brand name and it should not mean anything bad or negative in any language. The most important thing here is copyright. After finalizing a brand name the first and foremost thing is to protect that name by getting it copyright. Also it should not be confused or mixed with the product category so, that people can easily differentiate the brand from its product category.


Next comes logo designing , this is also just like deciding the brand name. It must be related to the brand name and brand ideology, it should be easy to recognize and understand. 2. Know your target audience and establish your brand in their minds After deciding the name and Logo next comes is deciding the target audience, whom do you want to target, what you want to tell them, etc. then comes the brand’s introduction into the picture. The brand introduces its products and services along with the characteristics to its target audience. This does not just end here, it also involves explaining and rooting the vision, beliefs, values and ideology of the brand into the minds of a customer. 3. Choose a Brand Sponsorship: Brand sponsorship are of three types: Private Brand Sponsorship: In order to emerge, many big brands adopt advertisement and social marketing strategies these are known as National brands. But the smaller companies may not be able to endorse their product always due to heavy prices. In these cases brand sponsorship becomes very important. In private brand sponsorship, big shopping places like, Big Bazaar, Walmart etc. endorse small scale or no- name brands, thus, uplifting the brand’s value. Licensed Brand Sponsorship: In this type of sponsorship, companies buy the name and symbol of other manufacturers by paying an amount and then endorse its products. This type of sponsorship may prove very effective but can also burn a hole in your pocket. Co-Branding: Such brand sponsorship involves using different brand names on the same product. Because each brand name dominates a different category thus, the combined brands create broader consumer base and influences the brand equity. But it does have its limitations too as such associations involve legal involvement and signing of contracts and licenses sharing. One have to carefully coordinate the promotions, advertisements etc. 4. Developing the Brands: In order to make all the effort count one must create a smart Brandingstrategy. This is very important to take things forward. Discussing and deciding the line extensions, how many products does one wants in one category, how many categories one wants. What all market structure one has to follow etc. Thus, in order to make sure a hit Brand, one must keep the above points in mind.

|| Building A Brand- Strategies And Things To Keep In Mind ||  

Creating a brand is just like forming a business, it takes time and energy but gradually becomes a strong entity. Creating a Brand Equity co...

|| Building A Brand- Strategies And Things To Keep In Mind ||  

Creating a brand is just like forming a business, it takes time and energy but gradually becomes a strong entity. Creating a Brand Equity co...

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