“A brand for a company is like a reputation for a person. You earn reputation by trying to do hard things well.” ― Jeff Bezos
The cardinal law of business success is—the customer is king. Your branding has no meaning without the considerations of the consumers. Branding could be dated back to the business idea stage, when an entrepreneur weighs the business options before him/her.
To meet the needs of the consumer, every product or service must be branded. Products are like human beings—they are identified by their identity—what we see (concrete things) like height, colour etc. and by image—what we feel (abstract things) like smell, taste, impressions etc. As we can identify people without any characteristic image, we can find products with distinct label with no recognizable branding.
The consuming passion of any entrepreneur is to present a good image of product and company to the consumer. Companies spend fortunes to crack through this barrier of confidence because they know that a company’s perception by the public, especially potential customers could make or mar an organization and the products and/or services it offer. When a company is known for genuine products, passing new products to the customers is almost effortless.
Competitive business demands that you create positive impressions about your business and what you do. When Union Bank of Nigeria Plc imposes a logo of a White Stallion, the goal was to depict strength, reliability and royalty/prestige—attributes associated with a well built white horse. The First Bank of Nigeria Plc new logo consists of a walking African elephant on a navy blue background with tan or ivory lettering in Garamond font with the strapline “Since 1894” at the bottom. Carefully chosen, each element of the brand emanates from the organisation’s legacy of permanence, leadership, confidence and dependability. These pictorial designs appeal to the emotions of the customers.
In today’s fast-paced world, it is imperative that the recognition of a product or service is promoted in just the right way. And this is what branding does for your business. Branding is a great way to promote this recognition because people are often busy and would more easily be inclined to going with what they recognise and are familiar with than taking the time to try out something different, especially if it is a brand that has given them satisfaction over time.
A look at how Indomie has consistently dominated the noodle market gives further insight into this. Though they have had their share of rough and challenging times, their determination to be at the top and own the largest market share has paid off in leaps and bounds till date, having been tested and trusted over time, they remain the preferred brand of noodles.
The same holds for Dettol in the antiseptic solutions category. They have created a name so strong and reliable over the years that people unconsciously often refer to any and sometimes, all antiseptic solutions as ‘Dettol’. In the soft drinks market, Coca-Cola has the same domineering effect. It’s been in the market for decades and still remains one of the most loved soft drinks by both young and old.
If consumers recognise a brand that they have previously used and they remember being satisfied with it, then they are more likely to choose that product or service again. Branding has one mission and one mission only: to increase sales by making the product or service the most visible and desired by the consumers. This sort of repeat purchase is what births customer loyalty.