Build a Brand Identity and Increase your Business’ Profit Margin
What is a brand? In short, a brand is the perception that consumers have of a
business. It is a business’ reputation. It encompasses a business’ promise to create a particular
kind of experience and uphold its values.
Disney is a perfect
example of a well-known brand. Disney, a family entertainment and media company, has developed a reputation for providing
fun for people of all ages, particularly children. More important than the products and services that it provides, Disney’s
brand is about bringing fantasies to life and making dreams come true.
While your business may not need brand management on the scale of Disney’s, you can actively shape the way
customers and potential customers view your business. Building a brand identity will help you establish your business’
position within your market. It will also help your target market develop a visual and emotional connection to your
business.
Reputations are developed whether we seek them
out or not. So it is best that we work to create the brand identity that will help us attract our target markets and increase
our profit margins.
When developing your brand strategy, ask
yourself the following questions:
1. What is my business’
mission?
2. What kind of consumers do I want to attract?
3. How does my business meet consumers’
needs?
4. What does my business offer consumers?
5. What kind of impact do I want to make on my target
market?
6. How is my business different from and better than my competition?
7. What kind of image do
I want my business to project to my target market?
One of the
most important factors for building a brand identity is to provide consumers with first-rate products/services and outstanding
customer service. Providing an entertainment experience that consumers enjoy and value has helped Disney build an internationally
known brand.
Links to more information about building a brand identity:
Copyright © 2009 Katherine Williams
All rights reserved.
