IMPORTANCE OF BRANDING
Branding is about building an image of how you want to be known or perceived by others. It could be the branding of your image or a product that you are involved with. Your public image of yourself, your company or the goods you are selling to other people will be perceived and received by how you are able to build it as a Brand.
Branding is important because it helps to give your product an edge over other products in the market. There is a product I knew over twenty year ago, the product is a soap called “DUD-OSUN” it has been in the market for years and it is a very good product but not too many people know how good it is. One thing I noticed about this particular soap is that the manufacturer kept rebranding it and representing it in the marketplace until now. And people have started to accept the soap for its quality.
Branding a product is one of the effective tools to use if you want your product or goods to excel in the market place. Everything can be branded for quality presentation and acceptance in the marketplace.
One of the many reasons why your products need branding is because; it helps to capture the market. Capturing the market is a big issue in the entire world. “Capturing the market is gaining the attention of your prospective customers or clients; because until you do, you will not be able to make head way.” You must bear in mind all the time that you are not the only one who is selling the same product. There are other products of high quality in the same category. These people are offering the same thing that you are bringing to the market space. And some of them have been there long before you got there.
The marketplace is a competitive space. And anyone who wants to make headway in that space must become ruthless when it comes to branding his products or goods. Put it at the back of your mind that if your product is good enough, then it must be recognize for what it is.
Another reason why branding is so important is because no matter how good your product is, until people know about it, they will not be eager to purchase it. What makes most people to buy a product is not just because of its quality but its name. And a name can be created through branding. Every name matters when it comes to marketing a product. Most people are always apprehensive when they see a new product until someone tell them that the product is of good quality.
Branding is a means of erasing that apprehensiveness from them. When people are apprehensive or nervous about a product, they will have reservation about that product until something helps to erase that reservation or nervousness from their mind. This is why a product can be in the market for years, but it is not able to penetrate the market space.
WHAT IS BRANDING
What is branding? Branding means to have a unique name, trademark, identification, label which makes it easy for someone or people to recognize you or your product. Branding is giving yourself or your product an identification mark which makes it simple for people to know and recommend it to others. We will discuss it in more details on the chapter on marketing. Here is how BusinessDictionary.com defined branding; The process involved in creating a unique name and image for a product in the consumer’s mind. Mainly through advertising campaigns with a consistent theme. "Branding aims to establish a significant and differentiates the presence of a particular product in the market which in turn help to attracts and retains loyal customers.”
Branding is a way of helping people to identify, and retain memory of your product without a brink of an eye, when they want to buy a product which is the category where your own product belongs. Until your product becomes the first on their mind, when they want to buy the category of your products, you have not captured the market space. Please keep in your mind that the essence of branding is to capture the market space or else there is no use for it.
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BY DANIEL O. EROMOSELE