Friday, August 14, 2015

Beyond Branding

Brand is much beyond unique design, symbol or a logo which creates an image in the minds of the target audience. In a start up world it has more deeper connotation. As David Oglivy, the great adman has said:
“Any damn fool can put on a deal, but it takes genius, faith and perseverance to create a brand.”- David Ogilvy
So how a start-up can approach the branding in his/her set-up. I can share my thoughts from the retail perspective since I tried following the same in my retail business. The steps which might help are as follows:
Step 0: The entrepreneur needs to create his own credibility by way of employing fair practices among his stake holders - investors, partners, employees.
Step 1: With efficient services and ensuring good quality products to his customers he can create a credible image for his own store/firm. For this he can employ loyalty programs and promotional activities
Step 2: Once he is successful in retaining his customers and has created a strong loyalty for his store/firm, he can start creating his own private label.
Step 3: By continuously engaging the customers by way of innovative communication and on ground activities around his private label he can develop it as a brand.
Thus Branding for start up is not mere creating an image of the product or a service. This comes at a much later stage. Branding starts with creating his own image as a reliable entrepreneur since it would have a cascading effect on the other aspects of his business.

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