How To

How Branding Provides A Competitive Advantage

branding - cfamedia

With lots of products and services springing up these days, creating something that is unique and relative, to what you offer is extremely necessary and that is where branding comes to the fore.

According to Wikipedia, branding is an overall experience of a customer that distinguishes an organization, or, product from its rivals, in the eyes of the customer.

Brands are used in business, marketing and advertising. Name brands are sometimes distinguished from generic, or, store brands.

Branding is a process. It is an experience that lives at the point, where promises meet expectations.

“From the moment an innovation appears in the market, the movement toward commoditization goes at a rate that has never been seen before”, writes Jean-Marie Dru, in ‘The Ways to New’.

Below are 5 ways to ensure that your brand stay ahead of other competitors:

Get A Popular Face: Sometimes, once a popular figure is identified with a particular product, or, services, it tends to create more popularity of the product, or, services.

This gives the products, or, services an edge, over competitors, as more people will be looking at them, in the light of the popular face they saw with it.

Class And Quality: Setting the standard of producing quality and first-class services, gives you an edge over competitors. People will easily identify your products, or, services and what you stand for.

Creativity In Sale: Being creative with how you run your business, especially, when it comes to sales, ensures that you stay ahead of your competitors.

Innovations in sales techniques can open up new markets, while cutting costs.

Market Dominance: Always stay ahead of your competitors, by dominating the market always.

Create products and services that stay in the mind of the consumers, even, after they have finished using the product.

Carry out a periodical survey and find better ways to increase customer satisfaction.

Tap Into Technology: Technology has ensured the survival of a lot of products and services and you will do well to tap into it.

Fundamentally, technology is the application of software, hardware and other intellectual property and it also helps to improve the efficiency, effectiveness and reach of the business.

You can also read up common brand awareness problem and how to solve them here.

Featured Image: Flickr