In the long run a brand is nothing more than a name, but it may very well be the most important decision you will ever make regarding the naming of your product or service.
In today’s cluttered marketplace, a brand (name) needs a unique idea or concept to survive. The goal is to become a word in the mind of the consumer. Once a brand is selected, then the marketing process has the responsibility of building a powerful name in the mind of the consumer. In other words, marketing is the process of branding. Once that name is selected, everything your business does contributes to the brand-building process.
Two brands that I like to reference are Xerox and Kleenex. Both those name are easily recognized in the mind of most consumers as well as the products they represent.
The next addition to complete the branding process is to give your brand credentials. Coca-Cola used “It’s the real thing”; most of us associate that saying with Coca-Cola.
Take a look at your business name, is it unique? Does it stand apart from other firms that are offering similar services or products? Do you have a tag line that states the credential of your business?
Is it too late to change your company name? You may not need to change if you have established a good following and are recognized in your market place. If your name is generic and does not really represent your unique product or service, then a name change will help you implement a new “brand marketing” plan. If you are satisfied with your company name, look at your “tag line”; does it adequately describe the credentials of your business?
Branding and adding a tag line to your company name requires both time and thought; give it several weeks and consult a lot of people before making a final decision.
Accept this challenge and make the necessary changes to your brand.