Wednesday, February 8, 2017

Competitive Edge: Does Your Brand Measure Up?

Competitive Edge: Does Your Brand Measure Up?

Share/Bookmark

7324049742 97e27fc926 n 300x225 Competitive Edge: Does Your Brand Measure Up?

Competitive Edge: Does Your Brand Measure Up?

Brand equity is a marketing term that is used to describe the power and influence a brand has over consumers. It is bed on the idea that a more well-known brand will be able to generate greater revenue then a less-known brand, and that consumers will eventually only turn to more well-known brands for their choices.

Brand equity also generates more revenue for a business when its name becomes synonymous with a service or product. For example, it is common for someone to say “just Google it” when they want you to perform an Internet search instead of saying “use a search engine.” Another great example is Band Aid. When you have a cut to cover, you ask for a Band Aid, not an adhesive bandage.

Building your brand through effective marketing can take your business from one of many in your field, to the top of your field. It takes specific strategic planning and excellent service to achieve this type of recognition.

Marketing and Customer Service

A top marketing strategy can make your business a common household name. However, your company must be prepared for the influx of business from this marketing plan or the entire strategy may backfire. It is essential that your company can produce the product quickly, ship the items fast if necessary, and that they perform as expected when they arrive.

If you are marketing a service, you will need to make sure that your service providers are exemplary and their work reflects well on your company. If you are unable to meet demands or quality standards, your marketing campaign will only provide negative equity to your company.

Negative Equity

Negative brand equity can happen for two reasons. The first is when a majority of the consumers learn that your product or service does not meet the standards of your advertising. This will cause your company to lose customer loyalty and repeat business. It will also promote a bad-will campaign in word-of-mouth advertising. It will take quick and creative marketing to bounce back from this type of negative brand equity.

The second type of negative brand equity can occur when a disaster takes place and it is directly connected to a company. For example, when you think of the name BP (British Petroleum,) the company is hoping that you are thinking of their gas stations and oil refineries. However, after the oil platform explosion and subsequent oil spill in the Gulf of Mexico, many people think of BP as a danger to the environment.

Your brand is the most important thing your company owns. It is what people think of when thy think of your product or service. Your brand can make or break your company. Marketing your brand is crucial to creating band equity. If the marketing is done correctly, and you can respond to the needs of the consumers, you will create a lot of positive feelings about your company and build the value of your brand. Who knows, you may even be the next Band Aid.

Jamica Bell is a blogger and entrepreneur. As a small business owner, brand equity has become a goal for her company  maintaining a competitive edge.



Tags: , ,


Relevant Articles




How To Design The Right Logo For Your Company

How To Design The Right Logo For Your Company

Share/Bookmark

Today’s business is highly competitive. It is very essential to stand out in such market condition. A company logo will help in creating your brand in the market and enhances the position and visibility of your company. It is used as a means of communication with the targeted customer base. Especially, if you want to create a brand identity for your business, then choosing the right logo is mandatory. It plays a vital role in promoting your business and creating a certain image in the view of customers. It is therefore essential that you consider these following factors while designing your company logo.

how design right logo for How To Design The Right Logo For Your Company

  • Do not make your logo too complicated. It is always the simple and unique design that grabs the attention of your customers. A complicated design not only fails to impress your customers but will also have no effect on the image of your company. When you choose a complicated design, your customers may not understand it and do not pay much attention to it. So one simple rule that you need to remember is do not go for an over-exuberant design. Instead, choose the one that is simple and reflects the image of your company in the best way possible.
  • It should be unique and should stand out in the market. Logo is one of those few elements which convey that you offer unique and trustworthy services. Make sure your design resembles such image while giving a distinct picture about your company. Also, it should be able to convey the philosophy of your business or your product. This will give a better understanding about your business.
  • One of the most important things that you need to remember is your logo design should be easily reproducible. The design of your logo must be flexible which means it should be clearly visible in all mediums including photocopy, fax, low-resolution, web, black and white or color printing. Since your company logo should be present on all your business documents and publications, it should be easily reproducible.
  • It should be scalable. As mentioned above, you would use your company logo for a variety of purposes. It is therefore necessary that the design is visually effective in any size. For example, when you use billboards or banners, you need to print your logo in large size and in case of smaller forms like fevicon, you might need a smaller version of it. So choose a design that is scalable.
  • Needless to mention, make sure the design is visually appealing. A catchy and appealing logo instantly draws the attention of the customers and generates the interest to know more about your services or products.

Remember that your company logo should be remarkable and should be flexible to use. It should be unforgettable. Most successful firms of today’s’ business owe their success to brand identity and logo plays the most important role in establishing this brand identity for any company. It is therefore important to choose the right logo for your company.

Citations:

Kcmouli is a freelancer blogger who loves to blog about anything tech related, from software products to Logo design. Do check out some of the other posts, post comments/suggestions and share this post on web 2.0. and related sites.

image source



Tags: , , , , ,


Relevant Articles




How To Launch Your Own Hardware Company With No Risk And No Funding

How To Launch Your Own Hardware Company With No Risk And No Funding

Share/Bookmark

If you have an interest in technology then launching your own technology company may just be the ideal job for you. This way you can stop reading about the future in magazines like Wired and instead start forging it through your own innovation and investment. It’s an incredibly exciting time to be in the technology industry and the web makes it easier than ever before to get a project up and running.

Of course many of us would like to be the next Steve Jobs, but there is a reason that most of us don’t go for it. Not only is it rather intimidating to strike out on your own, but it also requires a good knowledge of the technology industry and a large range of skills that you may or may not possess. Then there’s the small matter of funding…

Actually though, getting into the technology industry and selling hardware may be much easier than you may think. Here we will look at some of the easy and simple business models that anyone can use to break into the industry with minimum risk and no need for funding or genius-level engineering skills…

Becoming a Reseller

Becoming a reseller of technology is a fantastic way to enter the technology market and put yourself in a strong position to expand subsequently. Amazon of course began life as a reseller (initially of books – not even tech!) but today they are at the forefront of the hardware game with their Kindle and Kindle Fire.

Getting started in this business is surprisingly simple and not as difficult as you might have thought. To become a reseller, all you need is to make a small initial investment and to build yourself a website. Find a wholesaler of phones, tablets or other communication technology that you can afford to bulk order, create an online store and then just start selling them. You won’t need to invest much in marketing or order fulfilment at this point – you can even sell them over eBay to begin with and package them as you would if you were selling your old phone.

Of course if you can find a good route to market, research the demand thoroughly and bundle the items in such a way as to add value, then you can easily earn a large amount of profit on your initial items and then reinvest that profit to order more stock. Each time you sell off your items you can buy more and increase your profit margins until you get to the point where you can give up the day job. Simple!

Kickstarter

If you want to get straight into selling your own hardware though, then you are going to need some funding. The only thing you need to do on your own though is to come up with a good idea that you know you can sell and to build a prototype. From there you can then set up a Kickstarter page which will enable you to get backing for your project if people think it is a good idea. This way you can test the market and get all the money you need to launch your dream project with no risk you whatsoever.

Today’s guest post is authored by Todd Nash. A tech enthusiast, he likes to keep track of the latest in technological developments and some day plans to open his own firm. He has keen interest in hardware and has stated few tips on starting a hardware company devoid of risks and funding.

hardware chip How To Launch Your Own Hardware Company With No Risk And No Funding

Photo Credit: image source



Tags: , , , , , ,


Relevant Articles