- PRICING STRATEGY: PRICE SKIMMING!
- PRICING STRATEGY: GIVING YOUR PRODUCT/SERVICE FOR FREE
- SHOULD WE COMPARE OURSELVES?
- WHAT SHOULD WE MEASURE WHEN WE EVALUATE OUR MARKETING EFFORTS?
- WHAT IS THE VALUE OF A CUSTOMER?
- DOES CONTENT MARKETING WORK?
- WHAT IS THE DIFFERENCE BETWEEN A BRAND, BRANDING, A PERSONAL BRAND AND A COMPANY/PRODUCT NAME?
- WHAT IS GROWTH HACKING?
- HOW MANY « P » CAN BE FOUND IN THE MARKETING MIX?
- THE CUSTOMER VALUE CHAIN
- HOW CAN YOU PROTECT YOUR UNIQUE PRODUCT OR SERVICE?
- CONFERENCE ON FINANCING - MAY 2, 2017
- WHAT IS DRIP PRICING?
- WHICH AMOUNT SHOULD YOU CHOOSE FOR YOUR PRICES?
- DETERMINING YOUR HOURLY RATE BASED ON THE VALUE YOU THINK YOU HAVE
- IS LOWERING YOUR PRICES A GOOD IDEA?
- TO OFFER OR NOT TO OFFER FINANCING?
- HOW TO PROTECT YOURSELF AGAINST EXCHANGE RATE RISKS
- WHEN IS A GOOD TIME TO INCREASE YOUR PRICES?
- DEMAND BASED PRICING
- WHAT IS A LOSS LEADER?
- HOW TO ORGANIZE A DRAW THE RIGHT WAY?
- HOW TO HAVE REMOTE EMPLOYEES
- IS IT GOOD TO BE FIRST IN A MARKET?
- THE THREE TYPES OF CUSTOMERS
- EXPORTING TO MEXICO - QUERETARO REGION
- DEFINING BUSINESS SUCCESS
- ARE YOU USING REBATES? WATCH OUT FOR THESE
- IS THE CUSTOMER ALWAYS RIGHT?
- EXPORTS AND QUEBEC COMPANIES
- COWORKING SPACES
- YOUR PLACE OF BUSINESS AND INTERNET
- WHY IS SOCIAL MEDIA IMPORTANT FOR YOUR BUSINESS?
- HOW TO USE FREEBIES
- WHAT IS THE MAGICAL FORMULA FOR HAVING SUCCESS IN BUSINESS?
- DO YOU HAVE EXPERIENCE IN MY FIELD?
- WHEN CAN WE STOP OUR MARKETING?
- WHAT IS A CALL TO ACTION?
- WE ARE ALL SALESPEOPLE; HERE'S HOW TO GET THERE
- HOW CAN MARKETING AND SALES COLLABORATE?
- HOW TO SELL MORE TO YOUR EXISTING CLIENTS
- WHAT IS CROSS-MARKETING?
- WHY SHOULD I SEGMENT?
- WHO IS RESPONSIBLE FOR MANAGING YOUR COMPANY'S IMAGE?
- HOW TO CHARGE FOR YOUR PRODUCTS / SERVICES?
- HOW TO DEFINE YOUR PRICING STRATEGY: PRICE POSITIONING
- HOW TO DEFINE YOUR PRICING STRATEGY: MARKET PRICING
- WHAT PRICE SHOULD YOU SELL AT? - COST-BASED PRICING
- WHAT IS A PRODUCT?
- HOW TO MARKET YOUR NEW BUSINESS?
- IS BUYING A FRANCHISE A GOOD WAY TO START A BUSINESS?
- HOW SOCIAL MEDIA HAS CHANGED WORD-OF-MOUTH
- HOW SOCIAL MEDIA HAS CHANGED PUBLIC RELATIONS
- WHAT IS BRANDING?
- WHY INCREASING SALES IS NOT THE SOLUTION
- HOW TO SELECT YOUR COMPANY NAME?
- WHY HAVING A WEBSITE IS ONLY THE BEGINNING?
- WHAT IS MARKETING?
- HOW TO MAXIMIZE THE VALUE OF YOUR SOLE PROPRIETORSHIP BUSINESS
- WHY SELLING IN MEXICO?
- LOW COST MARKETING INITIATIVES
- WHY IS PRODUCT DIFFERENCIATION IMPORTANT?
- hOW TO PRESENT OUR COMPANY
- WHAT IS THE DIFFERENCE BETWEEN MARKETING AND PUBLICITY?
- 50% OF YOUR ADVERTISING BUDGET DOES NOT PRODUCE AS MUCH AS THE REST
- RIGHT SELL AND OVER DELIVER
WHAT IS THE DIFFERENCE BETWEEN A BRAND, BRANDING, A PERSONAL BRAND AND A COMPANY/PRODUCT NAME?
All too often I see the words "brand", "branding" and "personal brand" being used in all sort of ways on different media sites and I wanted to give my opinion on how I see these terms and what makes them stand out.
Let's start with the brand. What is it? A brand is a word, name or phrase often associated with an image (a logo, a color or combination of colors, a typography) and often associated with a slogan. The combination is a brand when the whole represents an emotion for the market, or the customers / potential customers. Not clear enough? Let's take an example: Mercedes Benz. The brand is made up of the name, the logo that is a three-pointed star inside a circle, and a slogan that changes from time to time. But when I say Mercedes Benz, what comes to mind? We will often think "quality", "German engineering", "prestige", and so on. Here we are talking about a brand since we have all the required elements. I would like to specify that a brand is an asset for a business; it is worth money. If a company changes hands, there will be amounts awarded for the brand according to its strength. And if a business has financial problems, the value of the brand may be affected, but it will not be eliminated. Think of the fashion brands that often change owners. They continue to grow even if the company that holds them is not constant.
Now what is a personal brand? It is the same thing except that here we are dealing with an entrepreneur, a freelancer or a subcontractor who will have taken the same steps to achieve the objectives stated before, often for a smaller market. But the fundamentals remain the same.
Let’s look next at what branding is. This expression encompasses all the actions that must be taken to build a brand: defining the name, the visual identity, the slogan, the corporate mission, the voice, the differentiating factor, building and implementing the content marketing strategy, website, advertising, how employees communicate with outsiders, public relations, price positioning, etc ... (I will not enumerate all the actions here) ... So, taking these actions will get you into the process of "branding" or building your brand. When do we reach our goal? When the customer associates the desired emotion with the brand. How do we know that? There are companies that specialize in measuring the brand strength. Once we reach our goal, can we stop? No. Your message will be constantly changing according to market variation, your company, your products/services, competitive actions, and problems you will have to solve.
Finally, does having a logo, our own typography, a company name, a color associated with our image, mean that we have a brand? No. These are the basics, but a brand takes years of sustained efforts to be build. If you want to know if you are there, check it with a specialized company.
If you have any questions or comments, feel free to contact me. In the meantime, happy thinking.
Stéphane Elmaleh-Riel, B.Ed., MBA