A product is made by a company and can be purchased by a consumer in exchange for money while brands are built through consumer perceptions, expectations, and experiences with all products or services under a brand umbrella. For example, Reliance’s product is Sim Card. Its product brand is JIO and each product has its own more specific brand name to distinguish the various JIO-product/service lines from one another. Without a product, there is no need for a brand.
Review the product or service your business offers, pinpoint the space in the market it occupies, and research the emotional and rational needs and concerns of your customers. Your brand personality should promote your business, connect with your customer base, and differentiate you in the market.
Do not dress up your offering and raise expectations that result in broken promises, create trust with honest branding - be clear who your company is and be true to the values that drive it every day.
- Be innovative, bold and daring - stand for something you believe in.
- Always consider your branding when communicating with customers.
- Create the right tagline.
- Stand out from the crowd.
- Rushing to get websites up by programmers who have no design skills and are using canned templates, bringing in the cheapest employees possible to do core functions such as customer service, picking generic business card templates with little thought, and running disjointed advertising, PR, and marketing initiatives all lead to brand stagnation and even death.