I have participated in many debates about finding the meaning of the word brand, but stopping there is a big mistake. Knowing what it means but not knowing how to build and protect the brand. It's just "Elephant head, mouse tail".
In this article, I would like to present some immutable rules in building and protecting brands as a gift to give to the one-year-old Manager Magazine and those who love the Magazine.
Some immutable laws in building and protecting brands.
Principle 1: Rules for people who like everything
“The power of a brand is inversely proportional to its expansion”.
Before deciding to expand a brand, remember that your brand will be weakened because you tend to be a "general store". Not long after that, your brand will be torn apart by four horses. You have to remember that you are on your way to building a brand. That's why you do it the way rich people (tycoons) do, which is very wrong. Do what the rich did before they got rich.
Principle 2: The law of concentration
“The power of a brand is directly proportional to its focus.” If you have a goal of pursuing a brand that is different from all other brands, don't forget to focus all your resources on achieving what you expect.
For example: Suzuki is stylish.
Principle 3: Laws of public relations
A brand is born from spreading news, not from advertising, it is in accordance with the times, with consumers' needs for a unique affirmation of the product, then the brand will flourish. left.
Principle 4: Rules of advertising
Although public relations are important for giving birth to a brand, protecting and nurturing it is mainly due to advertising, investing in advertising to stimulate demand, stimulate consumption and protect market share. If you claim that you do not have an advertising budget, sooner or later your brand will be eroded and your market share will be "eaten" badly.
For example, Tide laundry detergent and Omo laundry detergent continuously advertise that each 30-second dose "wasted" more than 20 million without us buying any more packages. So advertising has greatly contributed to protecting market share and reminding people to remember me.
Principle 5: The law of guarantee
A product must express its unique characteristics in the consumer's mind and that is to affirm the product's ego to the consumer, only that can ensure that your brand is only.
Principle 6: The law of quality
Quality is extremely important but not everything because quality alone is not enough. Reality shows that quality must be evaluated by consumers, it is also the suitability of price and code. , after-sale service and a combination of other factors for consumers.
For example: Who dares to say that Honda motorbikes are better than Suzuki? If a consumer is using a Honda motorbike that they love, they claim that the Honda motorbike is the best, but another person is using a Suzuki motorbike without seeing any damage. No matter what problem they have during use, they still affirm that Suzuki cars are the best. So quality must be accurately assessed by consumers.
Principle 7: The law of a name
A brand is ultimately a soulful name. This name is to distinguish it from other names in the minds of consumers because in today's conditions, with the development of science and technology, any competitor can produce a similar product. The quality or color is no different from your product. According to experience, the name should be just a word or group of words that is short, impressive and easy to remember.
Principle 8: Law of distribution
No matter how strong your brand is, without a suitable distribution plan, your sales will not be high, which can gradually fade your brand value. Therefore, investing in distribution is unnecessary in current business conditions. If you keep waiting for customers, you will fail. You should proactively reach out to customers. Because your product is not available, customers will choose another similar product with the most convenient conditions.
Principle 9: The law of price
It's a mistake if you impose prices. You must clearly understand the law of value, consider very carefully before bringing your product to market at the most reasonable price and always adjust to suit specific circumstances. Because you must remember, if you price too low, no one will believe that your product is good. But if you set the price too high, no one will be able to pay and they will choose another product with a more suitable price.
Principle 10: The law of consistency and steadfastness
Brand is the desire of everyone, but desires are very difficult to achieve. Brands cannot be created overnight, but must be measured in decades. It could be 10 years, 20 years, 30 years, even more. Therefore, you must always be consistent and steadfast in pursuing your goals.
Conclude: Understanding the meaning of the word brand is difficult, but finding ways to build and protect a brand is much more difficult. I hope this small gift will satisfy demanding managers and colleagues. Once again, I would like to wish Manager Magazine to always develop and provide the public with the best arguments so that we can understand ourselves better, know others better and manage better.
Manager
