Subject – Term One
Today we had a interesting lecture all about branding and marketing for your business. As Sian is very successful within her own business I found it very inspiring to hear it first hand from somebody with the knowledge and experience.
What is branding?
– It is one of the most important aspects of any business.
– Your brand is your promise to your customer.
– Branding covers everything from surface patterns, materials. packaging, bags, photography, website, marketing materials to tone of voice.
Why do we need branding?
Good branding helps you to stand out in a competitive market, communicates a clear and cohesive message to your customer and most importantly will encourage customers to buy into your brand.
How to create good branding.
Your brand is derived from:
– Who you are.
– What you want to be.
– How people perceive you.
You’re brand can’t be all things to all people, you must decide what you want your brand to be know for. Branding is based on what your target customers want and need you to be. Be simple – the strongest brands are clear in their message. Be consistent!
What is marketing?
– The action or business of promoting and selling products or services.
– The process of teaching consumers why they should choose your product or service over your competitors
– The action of providing the customer with a low-risk purchase.
– Marketing can be divided into 4 categories which should be informed by your brand:
Product – Market research undertaken to inform the product produced.
Price – Price must be correct and set as same value as competitors.
Promotion – Brochures and information to help you selling you product.
Place – Sale channels for example; online, shop, wholesale, retail, national, international.
How does branding effect marketing?
Your branding should feed into every aspect of your product and how it is sold.
– Your branding strategy determines where you advertise e.g which trade show you might attend, where you sell i.e Etsy versus NOTHS, which shops you approach, how to educate and influence your consumers, whether your customer chooses to buy from you or return for repeat business.
– Brand and Marketing effect one another – they work very closely together.
What should branding achieve?
– A clear and consistant company profile.
– Perceived strong brand values i.e what the branding stands for.
– Added value coompared with other products e.g Coca Cola vs generic brands. Because Coca-Cola has built a powerful brand equity, it dominates the market and demands higher price points.
– An emotional attachment.