Branding – a simple one letter word which can give jitters to even the most creative person on this planet because of the fact that it binds the customer to your product in an emotional, yet vivid manner. It is one of the most crucial aspects of effective marketing in a crowded industry with countless similar products. It decides the fate of your company, so to speak. It may seem easy to create a brand, but it is extremely difficult to come with something out of the box for your company or product in real life. It is very important to present a brand name that will affect the lives of people with versatility.
Understand the importance of cultural variations
There is a high possibility that you might be marketing your product at a place where culture changes every 50 kilometers. Therefore, it becomes significant to consider every single person in that kind of society while deciding a brand name for your organization. You can't expect high returns by targeting only one community. The brand should complement every religion, caste, color, and creed. There is a very famous saying in the industry that you should create a brand that can impact lives of every individual in a positive sense. People should feel attached to your company; and remember, your brand should not hurt the emotions of any class of people. Failure to do so can severely impact your brand image.
Change the universal meaning linked to a product
Everyone is aware of the incredible branding by a company in the name of fevicol. When a customer goes out to purchase glue, he says, “Give me fevicol”. People have started to believe that glue and fevicol are one and the same thing. It is because of the incredible impression that the brand fevicol has left on the mind of every consumer owing to its creative marketing and advertising. As a result of it, other similar products have to struggle to penetrate deeper into the community.
Learn from the mistakes of your competitors
Do not hesitate to learn from the mistakes of your competitors. You must ensure collection of all the necessary data to analyze their struggle or decline when they launched the product for the first time. Life is the best teacher; and you should thoroughly research why their consumers were not satisfied with what was available in the market at that time. After all the scrutiny, formulate a brand name or logo that will prevent the decline in a manner that resembles your competitors.