What is Brand Creation and the Challenges Faced
What do we mean by a brand? A brand is basically a tag by which you remember for a very long period of time. Millions of people buy products based only by the brand name and not by the quality of the product. And remember it is not very easy to create a brand and get it to the top of the world in the few months period. It takes a lot of time and research.
Top brands in the world such as Apple, Google, Samsung, IBM had a lot of ups and downs before they were able to create a name for their own. Nobody ever might have in their wildest dreams thought of naming an electronic device ‘Apple’. But today these companies and many other companies are reaping millions in profits based on their brand name. You must ensure that your brand will set you apart from other brands. It is not basically what you sell but what you can stand for. Handling a business without a brand name is similar to navigating in an open ocean without having a compass. You will never know where you are leading. To create a brand, the first thing we must realize is to understand a customer’s needs. What they prefer. And always keep such names that are very easy to remember and unique. Let us take an example – you name your brand ‘X’. You must maintain the quality for ever without trying to compromise on the quality the moment you have attained a name for your brand. Remember, people are smart. If they can accept a particular brand for its quality, they can very well reject the same brand the moment they realize that the brand has compromised on its quality. There are many companies that have lost in its bid to cope up with the market because of their greed for more profit.
World’s top brands like Apple, Google,Toyota , IBM, Hitachi, Samsung, Tesco and all others have travelled a long way and have overcome all ups and downs of the market and today with the brand they have also built their own stories and are still striving to fight the competition.
As generally said “Brand don’t need advertisement but Advertisers need Brand” Let us all strive towards building better brands.