Small Business Brand Building
Is it possible to build your business as a brand?Â Of course it is, just ask Dell Computer and Starbuckâ€™s Coffee.Â Remember that those companies were once a small business that has mushroomed into the behemoths they are today.Â
How did they do that?Â Simple really, they built their businesses around the idea that their entire business was the business; hence, their business became their brand.Â In other words, Dell Computer built its brand recognition around its name so when people thought of computers, they think of Dell.Â When people think of a place to unwind in an environment that allows you to enjoy a coffee drink, people think of Starbuckâ€™s Coffee.
Recently, I helped a client develop a better organizational structure for his business, where he also came up with the idea of building his business into a brand so when people thought of granite monuments; he wanted people to think of his business.Â
His idea is that his whole business is the place to get everything one would need to facilitate the sale, production and installation of a granite monument.
In marketing, developing a product or service (brand) requires the differentiation of your product or service against every other â€œlikeâ€ products or services.Â Rather, you do have to build a better mousetrap to get consumers interested in your product or service.
In consideration of this brand development also incorporates what marketing determines as the four Pâ€™s; Product, Price, Placement and Promotion.
Consumers will determine the value of your product or service (brand) via the product itself, the price you want for it, where they can get it and what other â€œthingsâ€ they will get along with their original purchase such as a coupon, or a discount.
So, when we thing of developing our entire business as a brand in itself, it can be done if we understand that our business can actually represent some differentiation, a great product or service at an affordable price, that is easily accessible, and might have other benefits.
There are more topics coming.
Social tagging: General Business