5 Characteristic of Best Brands
Brand promotion is a process that enables an enterprise to hinge on to the customer’s mind
Branding or creation of a brand name is the ultimate goal of a venture or an enterprise. Brand creation is a long and tedious process and could only be established after gaining the loyalty of the clientele. As Walter Landor puts it “products are made in the factory, but brands are created in the mind”. A brand provides the access to the consumers mind and also creates a positive picture of the product. Many customer are brand conscious and prefers to follow a particular brand, this is only instilled after an epitome of loyalty is achieved. Therefore explaining the importance associated with the process of brand promotion.
Branding enables a company to niche out an individuality and distinctiveness. This is essential in the present scenario of cut throat competition to project one product ahead of other, as branding provides uniqueness. There are certain characteristic that a successful brand should portray, in order, to be able to nestle in the minds of the customers.
These characteristics are:
Understanding of the target audiences: The best brands have an intricate study of the targeted audience and detailed knowledge about the aspiration and demands of their clientele. It is necessary especially for the multinational companies as the needs of the customer changings from culture to culture and religion to religion. For example Kentucky Fried Chicken stores in Islamic and secular countries highlights their ‘halal’ certificates keeping in mind the religious sentiments of the customer.
Inimitability: In order to stand out in the crowd it is vital for the enterprise to have a flagship unique feature. One doesn’t need to be brainstorming for being unique even some smart idea can work as miracle. For example, Starbucks strategy of writing their customer names in the coffee mugs not only benefits their staff in management but also enables to create a personalized bond with the customers.
Passion: This is pivotal for the continuity of the brand stability. The zeal of Dhirubhai Ambani was the reason behind the continual growth of the Reliance industry.
Consistency: Brand creation is not a onetime game. Customer’s loyalty has to be retained with the retaining of the quality of the product and positive innovations. This is one of the reasons that Coke which was started in 1886 still has not lost its hold as the leading seller of aerated drinks.
Leadership: A strong leadership is essential for the brand name creation. In fact there are several brands that are known for its CEO and owners, like Microsoft is more known for its innovator Bill Gates. The leader provides the right direction to the process of brand promotion.
Thus there are several aspects that have to be noted during and post the process of brand promotion. The creation and retaining of the brand name is essential for an enterprise to thrive.