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What
is brand creation?
Brand creation is
the birth of a strong brand, which reminds the user
not only about the product but also the manufacturer.
In today's era when more and more new companies are
coming up with new and innovative products it is evident
that those with strong brands will survive through thick
and thin of thus competition.
In today's environment,
building strong brands is becoming more and more challenging.
Increased pressures to compete on price, increased competition
through product introductions and store brands, and
the fragmentation of advertising and market segments
are just a sample of the pressures being faced by companies
in today's highly competitive environment.
To quote some hard
facts over 21,000 new brands were introduced worldwide
in 1995 alone, yet history tells us that better than
90% of them disappeared from the shelf a year later.
Why such a high failure rate and why has this been a
historical trend? The development of a successful brand
- which includes the product, the package, the product's
name and identity - is a challenging, but not insurmountable
task. The likelihood for success can be greatly enhanced
if one focuses on certain critical issues.
Brand creation does
not end at forming a brand but at forming an identity
of the products, brand awareness and brand loyalty. |
