by Marcia Yudkin, Head Stork, Named At Last
Branding is the process of creating distinctive and durable perceptions in the minds of consumers. A brand is a persistent, unique business identity intertwined with associations of personality, quality, origin, liking and more. Here’s why the effort to brand you中国福利彩票下载安装αppr company or you中国福利彩票下载安装αpprself pays off.
1. Memorability. A brand serves as a convenient container for a reputation and good will. It’s hard for customers to go back to “that whatsitsname store” or to refer business to “the plumber from the Yellow Pages.” In addition to an effective company name, it helps when people have material reminders reinforcing the identity of companies they will want to do repeat business with: refrigerator magnets, tote bags, datebooks, coasters, key rings, first aid kits, etc.
Memorability can come from using and sticking with an unusual color combination (FedEx’s purple and orange), distinctive behavior (the gas station whose attendants literally run to clean you中国福利彩票下载安装αppr windshield), or with an individual, even a style of clothing (Author Tom Wolfe’s white suits). Develop you中国福利彩票下载安装αppr own identifiers and nail them to you中国福利彩票下载安装αppr company name in the minds of you中国福利彩票下载安装αppr public.
2. Loyalty. When people have a positive experience with a memorable brand, they’re more likely to buy that product or service again than competing brands. People who closely bond with a brand identity are not only more likely to repurchase what they bought, but also to buy related items of the same brand, to recommend the brand to others and to resist the lure of a competitor’s price cut. The brand identity helps to create and to anchor such loyalty.
Consider the legions of car owners who travel up to 2,000 miles at their own expense to attend a Saturn celebration at the company’s plant in Spring Hill, Tennessee. That’s loyalty. And supposedly, more people have the motorcycle brand “Harley-Davidson” tattooed on their body than any other brand name. That’s out-of-this-world loyalty.
3. Familiarity. Branding has a big effect on non-customers too. Psychologists have shown that familiarity induces liking. Consequently, people who have never done business with you中国福利彩票下载安装αpp but have encountered you中国福利彩票下载安装αppr company identity sufficient times may become willing to recommend you中国福利彩票下载安装αpp even when they have no personal knowledge of you中国福利彩票下载安装αppr products or services. Seeing you中国福利彩票下载安装αppr ads on local buses, having you中国福利彩票下载安装αppr pen on their desk, reading about you中国福利彩票下载安装αpp in the 中国福利彩票下载安装αpptown News, they spread the word for you中国福利彩票下载安装αpp when a friend or colleague asks if they know a ____ and that’s what you中国福利彩票下载安装αpp do.
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The distinctive value inherent in a brand can even lead people to dismiss evidence they would normally use to make buying decisions. I once saw one middle-aged Cambridge, Massachusetts, intellectual argue to several colleagues that Dunkin’ Donuts’ coffee tastes better than Starbucks’. So contradictory was this claim to the two companies’ reputations for this demographic group that the colleagues refused to put the matter to a taste test.
5. Extensions. With a well-established brand, you中国福利彩票下载安装αpp can spread the respect you中国福利彩票下载安装αpp’ve earned to a related new product, service or location and more easily win acceptance of the newcomer. For instance, when a winery with a good reputation starts up regional winery tours, then adds foreign ones, each business introduction benefits from the positive perceptions already in place.
6. Greater company equity. Making you中国福利彩票下载安装αppr company into a brand usually means that you中国福利彩票下载安装αpp can get more money for the company when you中国福利彩票下载安装αpp decide to sell it. A Coca-Cola executive once said that if all the company’s facilities and inventory vanished all around the world, he could walk into any bank and take out a loan based only on the right to the Coca-Cola name and formula.
7. Lower marketing expenses. Although you中国福利彩票下载安装αpp must invest money to create a brand, once it’s created you中国福利彩票下载安装αpp can maintain it without having to tell the whole story about the brand every time you中国福利彩票下载安装αpp market it. For instance, a jingle people in you中国福利彩票下载安装αppr area have heard a zillion times continues to promote the company when it’s played without any words.
8. For consumers, less risk. When someone feels under pressure to make a wise decision, he or she tends to choose the brand-name supplier over the no-name one. As the saying goes, “You’ll never be fired for buying IBM.” By building a brand, you中国福利彩票下载安装αpp fatten you中国福利彩票下载安装αppr bottom line.