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Brand Power

Marketing guru Philip Kotler said, “The art of marketing is the art of brand building. If you are not a brand, you are a commodity. Then price is everything, and the low-cost producer is the only winner.”

So, what is the difference between a commodity and a brand?  The customer determines the distinction between a brand and a commodity. Customers who are brand loyal have an emotional attachment to the company. They are willing to spend more on the emotion generated by the brand. Customers understand that commodities may be simply replaced. Therefore, commodities are thought to have no distinguishing characteristics.

If you are trying to make it with your start-up company, you most probably see brand-building not as crucial as it should be. Chances are you are just starting to get your new product to market or trying to find a call that will fit your product, but please do not dismiss the power of brand building entirely.

If brand building is that effective, why only a few business owners invest in building their brands?

For instance, let’s mention an incredibly successful brand like Apple, inc.  This brand guarantees its customers to create products based on seeing the world a little differently and their pledge to inspire their customers to do the same.  Apple is undoubtedly one of the most sophisticated brands in the world. Stores with a unique design, bright lighting, friendly workers, and a well-trained customer service department. Each of its global stores has a protocol adapted to local tastes; they all have the same style, but their material on the Apple website is carefully translated and localized for international audiences.  Nothing happens by chance. Its success is based on its ability to communicate emotions and expectations through its branded products; when you see the white and straightforward bitten apple logo—which, by the way, is one of history’s most recognizable symbols—you know you’re getting a fantastic product.

Another example is young brands like Huda Beauty has become a global beauty leader with operations worldwide, an estimated net worth of 1.25 billion dollars, and a mission of “change the world of beauty.” A big corporation like Costco, which sells more wine than any other brand in the country, offers its members exclusive access to cheaper gasoline at its pumps and proudly attributes its success to its products being less expensive than those of other well-known brands.

You may do the same with your company. Begin by learning how to build your brand. Each one of the brands mentioned above has a compelling reason to exist, and you should know as well. When defining yours, consider the following questions:

Why are we here? What sets you apart from your competitors? What is the problem that your product or service addresses? How do you want to be perceived by your customers? If your customers have used your products, how do you want them to describe their experience with them?

This is just the beginning; building an extraordinary business brand demands organization, planning, and a process.  Once you have defined these core aspects, the next thing is to communicate to your audience using all the tools, resources, and services that can elevate the growth of your business as a brand.

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