BRAND NAME

• Brand Name


  A name, symbol, or other feature that distinguishes a seller's goods or services in the marketplace
• Brand


  Your customers' overall experience of your business
• Brand strategy


  A long-term design for the development of a popular brand in order to achieve the goals and objectives
• Branding


  A powerful and sustainable high-level marketing strategy used to create or influence a brand
• Commonly used branding strategies

  • Purpose
  • Consistency
  • Emotion
  • Flexibility
  • Employee Involvement
  • Loyalty
  • Competitive Awareness
• Purpose (functional)


  Assessments of success in terms of fast and profitable reasons, e.g. the purpose of the business is to make money
• Purpose (intentional)


  Focuses on fulfillment as it relates to the capability to generate money and do well in the world
• Consistency


  • Avoid things that don't relate to or improve your brand
  • Aids brand recognition, which fuels customer loyalty
• Emotion


  • Allow customers to feel part of your brand
  • Find ways to connect more deeply and emotionally with customers
  • Use emotion to build relationships and promote brand loyalty
• Flexibility


  • Allows brand to adapt to changing market conditions
• Employee Involvement


  • Employees should be well versed in how they communicate with customers and represent the brand
• Loyalty


  • Positive relationship between you and your existing customers sets the tone for what potential customers can expect
• Competitive Awareness

  • Do not be frightened of competition
  • Take it as a challenge to improve your branding strategy and craft a better value in your brand
• Individual Performance Task: "My Imaginary Product"
• Assignment: Paste the P's (in Marketing Mix)