The difference between a local fashion designer and big fashion label is branding. I have seen local designers from a shop by the roadside that sew fine cloths but yet, they are so cheap. In the same vein, I have seen big fashion designer who are not good at what they do, but people are willing to pay thousands of dollars to wear their brands. What most entrepreneurs fail to realize is that due to the pride nature of human, we rather spend huge amount of money on popular brand with low quality than on not so popular brand that is of high quality standards.
As an entrepreneur, while building or creating quality products, you must not forget to brand yourself and position your products in such a way that it will attract the high people in the society. Branding and positioning is a process, therefore efforts must be continually put into it.See:How to build a winning brand strategy .For those of you who don’t know what branding is, it is the process of creating a unique name and image for a product in the consumers’ mind, mainly through advertising campaigns with a consistent theme. Branding aims to establish a significant and differentiated presence in the market that attracts and retains loyal customers. Simply put, your brand is your promise to your customer. It tells them what they can expect from your products and services, and it differentiates your offering from that of your competitors.
Positioning on the other hand is a marketing strategy that a brand or a company employs to make it occupy a distinct position relating to competing brands in the minds of customers, emphasizing the unique quality of the product (what it is, what it does and how, etc.) or they may try to create a suitable image (inexpensive or premium, utilitarian or luxurious, entry-level or high-end, etc.) through advertising.Read:Top 5 Reasons You Need To Brand Your Products/Self
With that being said, you might have a good product but if you don’t sell the quality/value to customers or targets, they will undervalue it.
When you are strategic about your branding, it creates room for brand equity, which means that you are bringing added value to your company’s products or services that allows you to charge more for your brand than what your competitors with unbranded products command. For example, Mercedes Benz will always be expensive because it has built a powerful brand over its competitors; Coca-Cola is also another brand in the same league compare to other soda. These means that they can charge more for their products and customers are always willing and ready to pay without hesitations.
Take a look at addidas and Nike that associate with athletes. They do so in order to transfer customers’ emotional attachment to the individual athlete to their brand. Pure and simple.The same goes for musicians, actors, and other famous individuals. Fans patronize the products they endorse not because of the value, but because of their emotional attachment to the superstars. For example, Yeezy Boost by Kanye West and all Michael Jordan’s brands.
Brand definition takes time but you must do so to succeed. It is a process that can be tough, time consuming but must not be neglected.
Follow the following tips will help you in the process of trying to discover your brand;
Have a Unique Logo, be consistent with your brand promise through messages, have a payoff that is in line with your brand, endorse celebs that speaks to your brand, use the same color scheme, logo placement, look and feel, create standards for your marketing materials and don’t compromise quality.
If you do all the aforementioned things, you will see your products/brand booming with sales and becoming very popular within a short period of time.