Importance of Branding: What's in a Name?
So you decided to start your own business and want to give it a name. You've come up with a few names that sound promising, but how do you know which one is best? What's in a name? How do you know if your choice represents who you are as an individual, what your company does, or if the brand will provide unique benefits for customers? In this post I'll talk about the branding process and why it's important for success
The Importance of Branding: What's in a Name?.
Sloane Smith | Blogger | University of Maryland Baltimore County (UMBC) International Affairs Major.
Branding has been a hot topic on campus this month. We are preparing for our annual competition, Campus Business Challenge (CBC) with UMBC's Business Society. In order to win the competition, we need to create a memorable brand for our team and business. According to the marketing expert, Seth Godin, "A brand is something that exists in somebody's mind." He also states that it should be unique and different from other brands already on the market. Since we are competing against other University's, it is essential that our brand be memorable and unique.
We all know how important it is to have an individual name, while others like the idea of a company name. I'm too busy to think of a company name, so I decided to create my own individual brand. How did I come up with my name?
My inspiration came from my second year at UMBC. During this time, I really started to get involved in on-campus activities and have made a few friends who have helped me through this transition. I also realized that people often don't remember first names and even if they do they only recognize the first letter or two of your name. For example, I know a girl named Briana who goes by Bree. I also know a girl named Kristin who goes by Kris or Kiki.
With that in mind, I decided to combine my nickname (Sloane Smith) and my last name (Smith) to create the name Smith Sloane.
I chose to create an individual brand because I wanted something that was unique and one of a kind. In my opinion, this is the best option for me. I may eventually change my mind and want to create a company name, but for now, I'm happy with my individual brand.
How did you come up with your name? What do you think about brands? What name did you pick for your company or yourself?
Sloane Smith | Blogger | University of Maryland Baltimore County (UMBC) International Affairs Major. http://sloaneshopkinsmith.blogspot.com/2013/08/importance-of-branding-whats-in-name_.html
<iframe width="560" height="315" src="//www.youtube.com/embed/e7X9mXWkJHo?rel=0" frameborder="0" allowfullscreen></iframe>
Branding is the process of creating a name, symbol, or design that identifies and differentiates a product from other products. The purpose of branding is to create a memorable experience that attracts and retains customers. A brand name is the foundation of any marketing campaign. The process begins with identifying the focus of your company, then developing a symbol or design to represent your overall image, followed by naming it appropriately.
To create a successful brand, you must develop an effective logo. The logo should be simple and appealing, yet distinctive. It should have a strong recognizability in order to draw traffic from word of mouth, and you should use the logo on all of your marketing materials.
Most companies require their employees to wear official-looking uniforms and identification badges. The reason for this is that uniforms are extremely effective ways to create a consistent brand image through repetitiveness such as color, size and placement of buttons, etc.
With proper branding, product packaging plays an important part in creating a unique and consistent appearance for any company. Packaging needs to reflect your brand image and symbol. For example, if the logo design includes a slogan or a message, it should be visible on the logo.
In today's marketplace, there are few companies that can survive without a strong brand name. In this global economy, every company must differentiate itself from its competitors in order to gain a competitive advantage over business rivals. Branding is not about getting famous; it is about standing for something that represents your company and what it does best. A brand name will not only connect with customers but also inspires them to recognize your company for quality products and services.
Branding can be easily accomplished with the help of a design team. They will create a name, symbol and logo that reflects your company's personality. First, you need to know the purpose of branding for your company, who your target market is and what makes you different from everyone else. From there, you will be able to get down to business and create an entire marketing campaign that includes an official-looking logo and an appealing slogan.
A brand name often reflects how customers perceive the image of a particular product or service. Other times it may reflect the culture or values of a particular group, organization or nation (e.g., Harley-Davidson). Sometimes brands are named after their founder (e.g. Moët & Chandon, LVMH) or their parent company (e.g., Leica).
Brand names can be categorized as either a corporate name or a trade name. A corporate name is the brand name of a business which identifies the business as a legal entity. The trade name is the brand name of a product which identifies products or services of the business. When markets are saturated, and companies compete by offering similar products and services, customer loyalty has to be earned through carefully cultivated branding strategies and unique trade names.
We live in an age where it is possible to do almost anything remotely now, with very little physical contact in between people outside of our own limited spheres of influence.(i.e.
Conclusion:
Branding is the process of creating a name, symbol, or design that identifies and differentiates a product from other products. The purpose of branding is to create a memorable experience that attracts and retains customers. A brand name is the foundation of any marketing campaign. Successful branding starts with proper logo creation and ends with establishing a brand image that can be easily recognized.
I like trademarks, it's also what people in business use for quality assurance or association with their company / product. Trademark can be used as an effective tool for building brand awareness if considered well enough.