What is a Brand, and Why do I Want One?

If you produce your own product, you might see the value of a brand immediately. People recognize your product by the brand label on it. That brand label identifies your company and they associate and expect certain characteristics from all your company offerings.

Retailers create a different kind of product. Their product is in the service they provide. This includes the checkout experience, customer service regarding answering questions about your product, returns and more. While no one expects you to have a 100% satisfaction rate, the higher you can get, the better. Your brand value is how people perceive you, and how that reflects what you can do with your brand, as an owner. The better known your brand is, the more people will discuss it online and offline.

To become very well known, you will want to advertise both online and offline. You need to stick with a brand promise and manifest that promise with every move you make with your company - the people you hire, the product you produce, the services you provide - everything is noticed by someone and you will be hard pressed to re-brand yourself if you get a lot of negative public sentiment.