The Edmond Sun

Business

Discussion

October 21, 2009

Branding a must for companies today

Katie L. Reim

STILLWATER — Branding your business and your product has become an important part of a business owner’s marketing program.

Glenn Muske, Oklahoma State University Cooperative Extension interim associate dean, and assistant director of Family and Consumer Sciences, said at the most basic level your brand represents some type of promise the owner is making to the consumer.

“Your brand represents who you are, what you stand for and what is unique and beneficial about the product or services you offer,” Muske said. “All consumers are aware of brands and research has found often consumers buy simply based on brand identity. Oftentimes, the consumer has had a positive experience with a certain brand and wants to obtain those same benefits the next time they buy.”

The goal of the business owner is to reinforce the brand identity by delivering a consistent message and by quality control so the consumer’s expectations are met every time. Great brands are both trusted and loved.

Muske said branding makes selling easier and it makes your business or your product identifiable in the market place.

“An owner always has competition and your brand is one way to distinguish you from the competition,” he said. “Branding also builds equity in that consumers may be willing to pay more, they remain loyal to your brand, it offers visibility and distinguishes you from being just a commodity.”

Muske said to start building a brand the first decision is to gather your resources and start brainstorming, taking inspiration from every possible source.

Ideas can include what your brand name might be and exactly what unique benefits you offer.

“Come up with a unique tag line and logo and remember your brand name must be a name that is memorable,” he said. “It can’t sound like another name and it’s great if it projects more about your company or is a conversation starter. The brand must also match your company’s mission.”

After development of the brand, consider how and where to launch it, how it will be managed, protect it and control its use in all media encounters. Brands need to be constantly realigned to market conditions, outside factors, purchase behaviors and cultural aesthetics. Brands can grow.

“Brands are worth it if you are willing to take the time, spend the resources and continue to refine and update the brand to keep it within your company’s mission,” Muske said. “Is it worth it? Just ask some of the companies whose products you regularly buy.”

Text Only
Business
Stocks