Building
a Quality brand
Last
week, I talked about ways/steps to build a Quality Brand. I gave tips that
would take you step by step into creating and selling your brand i.e. Identify
what a Brand is, what are the components of a Brand, Packaging, Brand management
and Strategies to sustain your Brand.
Strategies
to sustain your Brand are the things you have to do to keep your brand
trending. Its all about AIM, MARKET AND
STRATEGY.
Before
creating your brand you would have an AIM (what you hope the Brand achieves),
MARKET (your prospective consumer/customer/client) and you would need to put
the right STRATEGY in place to get through to your preferred MARKET.
To
get through to your preferred market, the strategies you employ must
overcome/break certain market barriers.
I should begin by stating that the
growth of a Brand is determined by the barriers it’s willing to overcome, the
tools being used and the timing employed.
To stand out as a Brand, you have to
know the right tool to use which would save you cost and time to give you
outstanding results.
Some of the barriers includes but not
limited to:
Competition: what is your close substitute or major competitor in
your line of business?
Your answer to the above question would help you with
your feasibility study (identify their selling point & market response).
You can then develop your product with improvement to the market demand which
would give you an outstanding result because you just filled a need.
Location/localization: where your product is going to sell from is an
important key.I would advice that your feasibility should be well conducted to put you
in the right location where you have easy access to raw materials, production
equipment and your preferred market.
Technology is an important tool to use to get your
product out. So your location can also be the internet (website, social media
etc).
Whatever you do, be accessible.
Timing: time is an important factor in life. There is a cliche that says TIME IS MONEY.
Your response time to demands sells a
message of your Brand. You need to
put TIME in consideration for any thing you hope to do i.e. production time,
service time, response time etc.
Financing: do I get a sigh…hmmmmmm? We all know that finance is
key to production. We need money to buy raw materials, market our goods and services, pay employees etc
Always
try to buy what you need. Carefully plan your funds to give you optimum return
on your investment.
Consistency: the idea your brand sells to your customers is what
they would take to their friends (good or bad). Coca cola as been said to be
the world’s no.1 brand by many certifying body. Why you may want to ask?
Consistency
Every bottle of coke you take gives you
the same taste and refreshment that you desire. That’s consistency of a Brand.
You need to be sure that you can be consistent at delivering the service
/product the way your consumer/customer/clients want it because in the end a Brand
is made by its purchase.
I believe you have been able to learn something from
all I have said. Please, feed us back to serve you better. Post a question,
comment, tweet, RT, Facebook it to empower more people.
Warm regards,
Oyebolu
Abiola.