Your business is always in one of two situations: winning or losing. It is losing when it stands still or is stagnant. It is winning when developing. It makes no sense to analyze all the obstacles that are in the way of your business rapid development – there are too many of them. However, there is one, which is the most important and not depending on the production and resources, company scale or its cash flows, and the abilities of its employees to think.
This obstacle is called “customers understanding.”
Any company that neglects this knowledge sooner or later go bankrupt and leave the market. And sooner rather than later. The development of modern business economy leaves to slowpokes no chance of survival.
You, as director of the company, must know that today the majority of purchases made by people considering a huge number of factors that combine modern marketing concept of “brand.”
You, as director of the company, must know that today the whole business is built around the customer. So around the brand.
You, as director of the company, must know that only those organizations will survive that put the brand at the center of development. In such organizations, every Monday CEO opens the board meeting with question: “What have you done in the last week to strengthen your brand?”
In order to survive in modern market, companies must massively use their ability to think.
About the future, about themselves, about the buyer. Markets evolve at a pace that there is no time to take too much long to make a decision. And either you put the brand at the forefront of your business or there will be no business!
What are the benefits a brand gives to the buyer?
A brand is a profit. Functional, emotional, psychological or social: any that a person buys with buying a product or service. It is for this additional benefit people willing to pay when buying a brand more than for a “regular product.” To see if everything is OK with your brand, start with a simple test: Continue down the phrase “My brand gives the buyer the following additional benefits …”
Do you know who buys your product?
In the world there is virtually no goods and services for all, in order to determine who should buy a product or use a particular service, marketing introduced the concept of “target audience” – a group of people united by certain criteria.
Perhaps you’ve heard of these target audiences, and therefore can easily formulate who exactly is the main buyer of your brand.
Do you plan your brand?
All brands should be sold to the extent that is worth the investment in them and allows you to “set aside” money for future development.