Budget your branding

It is very important to regularly monitor your advertising activities in the process of brand building, to realize how much they are contributing to the bottom line. Expediting marketing expenses wouldn’t generally lead to a stronger brand name. Neither is it necessary that they will give you voluminous sales nor a good market name. Though, when the communication is hay wired it might get ruined!

The marketing objectives for the undertaken activities should be clearly defined. It shouldn’t be a case that an activity is pursued because some one else (may be competitor!) is doing it.

Every organization has to have a budget for its marketing deeds. The budget would vary according to the companies’ profit margin. Branding is the key activity to help grow these budgets by spending the allotted money. Confused? See, if branding is done in sync with the organization’s goals the profits would be higher giving in turn more marketing investments to be made in future.

Analyze where you are at the moment. Understand what is lacking. Check on the external factors related to it. Plan your strategies according to your strengths and weakness. Implement these and regularly check and update them.

Brand- To Sell

Branding is an application of appropriate marketing techniques in the right proportion to a product. Brand management is to manage the forces in a market suitably to win favors for the product.

Branding essentially has to work on both mind and heart of consumers so that the product's perceived value to the customer increases and thereby increase brand equity.

Marketers see a brand as an implied promise that the level of quality, people have come to expect from a brand will continue with present and future purchases of the same product. There are a lot of products available but limited brands. Its comparatively easier to judge the needs of people and develop a product accordingly, but it is tough to tell the world that there exists an answer with you to their needs. Its not hard to sell some one what he wants, but its hard to make him aware about the availability.

Brand your products in a way to generate sales and also a good will in the market. Use the mixes in a way that at one end the consumer feels that he needs your product and at the other he feels that's its in his betterment that he is associated with your product.

Effective Branding

In this typical market we have multiple sellers catering to multiple buyers. The start of commercialism dawned from the empires of Barter system and moved on to business estates where the primary goal is to make profits. This system to address the needs and demands of the forces in the market and earn an incentive over it is the call of the day. This has no problem till the time the situation is monopolized as that would make the users accept any and everything. But no sooner that there exists a competitor, this situation trembles as now the call is to attend to the customer needs in such a way that their loyalties can be won.

Not only winning loyalties helps to earn a quick buck but also sustain sales in a way that even when successors pick up the business they could bank on the same customers which were earlier converted to become prime centers.

In today’s scenario it has become very important to convert your product from a mere product to a brand. With globalization taking everything under one bracket it is hard to sell products. Thus the focus should be to establish and sell brands.

There exists a misconception that branding is advertising. If you need to brand your product all you need to do is to spend money on a heavy media burst wherein you flood your product across and Eureka! Brand is made. Alas! It doesn’t work this ways.

Advertising is a part of branding that does help to create awareness but not a brand per se. Advertising can be called a sub set of branding. A brand is made not by just creating awareness but value for a product. Consumers should be happy about a product. They should feel proud about using a product. It should capture not only the hearts of a consumer but also minds. An attractive advertisement can lure someone to do the initial purchase but till the mind is stimulated the product will not be on its selling cycle.

Use the marketing mix in the appropriate ways to win customers for a product. Branding is not only about awareness and aspirations. It’s about sales too. Any branding activity undergone which doesn’t help with the bottom lines should be reworked unless the objective is diverse.

The time to sell products alone is out. Sell values with the product. Sell aspirations. Look after customer interests and win him forever. Happy marketing. Happy branding!