Negosentro.com | What does it mean to brand your business? | Most think of branding in simple terms. The words brand and business are often used interchangeably in everyday conversation. It’s more complicated than that. Here is something to consider:
It’s possible to have a brand without a business and a business without a brand.
To better explain this, business and brand will be defined, and it will be shown that it is possible to integrate one into the other.
What Constitutes a Business?
Not all establishments exist for the purpose of gaining a profit. There are establishments that are considered “non-profit“, and an example of that would be a charitable organization. Such organizations are set up the same as a company with members and governing authorities, but they lack one crucial element in what defines a business: Profit.
A business is an individual or a group that is gaining a profit through their operations. For example, if there is an individual with certain skills and is offering his or her services on an online platform such as Craigslist, and then receiving payment for it, then this is a business.
In this trade, there are four key aspects: SELLER, PRODUCT, BUYER, and PROFIT.
Referring to the example above, the seller would be the freelancer offering services on Craigslist. The products are the services given such as typing out documents, designing of websites, and etc. The buyer would be the client who is purchasing the services rendered. Profit is the amount earned after any expenses such as cost of needed material to do the work.
If these four factors exist, then any entity is a business.
Being a brand is a separate matter.
What Constitutes a Brand?
A brand is when a business goes beyond just simply existing as a business. In other words, the attribution of a product to an idea is a brand. As mentioned before, not all businesses can become brands, but all brands are actually businesses.
For instance, when the word “Nike“ is mentioned, one automatically thinks of shoes, sports, basketball, and basically anything to do with athletic endeavors and energy. One right away thinks of these ideas and imagery when the company name is mentioned. That is branding.
Another way to explain it is when your product or service has reached the subconscious level of the people, and they associate and correlate items your brand portrays as if the two mean the same thing, then that is branding.
Most call a tub filled with bubbling water a Jacuzzi. However, a Jacuzzi is a brand that manufactures toilets and mattresses as well. But still, any and all brands of hot tubs are called a Jacuzzi, even in cases when the hot tub is produced from another company! This shows that the business has succeeded to influence its product`s industry to the extent that it has taken over the generic term for the product.
If you want your business to really stand out and be foremost in the minds of the masses, then it is absolutely crucial for you to procure concrete branding strategies. To set the mood right, it is important to come up with a really good name for your future brand.
It is also important to invest in a promotional product that will help in attracting strong attention to your business name or product. For instance, your company or brand name would be highly noticeable on seat cushions since they have a large surface area in which to display your name and they are often used, so check out wholesale seat cushions by promocenter international.
Concentrating on generating an income and developing your product(s) is essential. The problem is that these activities will not commemorate your brand. People’s confidence is what you need to have your products stand out and make your business operate for the long-term.
Just being a business is not enough. You must have your own brand.