Defining Your Brand
Branding is one of the most important marketing concepts of the 21st Century. Brands define businesses, increase customer loyalty and create top-of-the-mind awareness. A company’s brand creates its image and offers a promise of quality and satisfaction. It is a perception in the mind of the consumer. Brands add value and can be sold.
Look at the value the name Starbucks adds to its product, coffee. Coffee is a fairly inexpensive commodity. But, according to its founder Howard Schulz, Starbucks is a coffee experience. Brand is personality.
Branding expert Rob Frankel of Frankel and Anderson describes the power of branding best: “Branding is not about getting your prospects to choose you over your competition; it’s about getting your prospects to see you as the only solution to their problem.”