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  • Stephen Elser

Brandanarama

Ever wonder what all the hype is surrounding Branding? Your brand is a precious and irreplaceable part of your business. But why does it work? What does it do?


Branding is easier when your business is obviously different than your closest competitor. For example, the National Football League (NFL) is one of the most powerful brands out there. The NFL has little or no direct competition. There are other professional football leagues, but none compare to the NFL, not even close. That makes branding much easier because the differentiation of the product is so obvious.


The strategy behind Branding as a marketing tool is more complicated when a business operates in a category where all competitors essentially offer the same product -- Banking is a good example. Deposit products, lending products are all very similar with subtle differences like interest rate and fees, but they all serve the same basic purpose. The classic Branding example is Coke and Pepsi. Both are cola beverages with subtle differences in taste and ingredients, but the biggest difference is evident in their branding. Which do you like better? Why?


The connection that consumers make with a brand is so personal. It could be color of the logo, or other famous people that endorse the brand, or what the brand does with their profits that resonates with you to the point where you'll seek out that brand and spend your hard-earned money to buy it over another similar choice. That is the power of branding.


Regards,

Steve Elser

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