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).