Brand Your Business To Survive The Competition And Maximize Profit

October 31, 2011 by  Filed under: Branding 

Since your company has a lot of competitors and the marketplace is a jungle, one best way to stand out, be competitive and generate profit, is to brand your business.

What is Branding?

Branding is the use of advertising, distinctive design or mark, and other means to make consumers easily identify your business upon seeing your design or mark. It also involves promotion to make customers associate your products or services with your business.

How To Brand Your Business

To brand your business is to promote or advertise it, or by having a distinctive design or logo, for the purpose of creating awareness and recognition of your customers.
This can be done by:

a. Creating an image or logo, with color combination
b. Making a tagline or motto
c. Marketing, advertising and promotion

For example, if you mention a fast food restaurant, what brand would first come into your mind? If you need a toothpaste, what brand do you buy? Or if you want to rent-a-car, what car rental company will you call?

I remember Avis Rent A Car used to have a corporate motto which became a famous brand:”We try harder”

If we use a non-business example, the words “Duty, Honor, Country” are branded into the heart of all West Pointers, or the cadets and alumni of the U.S. Military Academy.

Why Branding Is Important?

In the face of competition it is important to make your business stand out, to set it apart from the competitors. That is the only way to survive and remain competitive in the market.

The name of the game now is how people, especially your target market, associate your business, product or service as a symbol of quality, dependability and fast but efficient service, coupled with total customer satisfaction.

A firm that does not brand its business, product or service will just decay and die.

Branding and Profit

The primary objective of every business is to provide quality products and services to maximize profit. How can you maximize profit if your business, product or service do not have a brand which people can identify?

Branding is one of the best marketing tools that can make or break your business, and will spell the difference between profit or losses.

So, make your business grow and profitable. Brand your business.

Eli A. Gatanela is a practicing lawyer, management consultant and professional real estate broker in the Philippines. Mr. Gatanela has been involved in business and management consulting for the past 22 years, and in the private practice of law, specializing in commercial and real estate laws, for the last 10 years. He holds Economics, MBA and Law degrees from the University of St. La Salle. Mr. Gatanela heads his law and consulting firm Gatanela & Associates based in Bacolod City, Philippines. His websites are: http://businessphereconsulting.com and http://bacolodrealty.com

Article Source:
http://EzineArticles.com/?expert=Eli_Gatanela

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