Got a brand?
When we think about a brand, we would think of the likes of Airbus, Boeing, Chanel, Delsey, and the list goes on. We may also think of brands as logos and trademarks, such as the iconic marks of Audi, BMW, Mercedes-Benz, and so on.
When did brands start? It started in ancient Egypt, when livestock were literally "branded" with hot metal, to identify livestock of one owner from another. Investopedia has a investment-centric look at what a brand is.
is simply a way to identify an entity from another. This entity can be a company, a product, or a service.
- McGallen & Bolden Group (Singapore, Asia & EU)
How should we build brands?
For building a brand, what are some of the approaches?
- Big Company > Go Many: If you are a BIG company, you may have many product brands (think Unilever or P&G). Each product brand will get an independent marketing drive, and utilize independent marketing budgets for advertising, marketing and PR. This is because in big companies, the marketing budgets are colossal and are substantial enough to have independent marketing for EACH product sub-brand. With such large budgets, big companies can also easily apply enforceable trademarks for each of their products and sub-brands.
- Small Company > Go One: If you are a smaller or emerging company, even though you may have many products, it is wiser to converge your marketing firepower into building your entity brand instead (your company). This is important as each brand may require an enforceable trademark, and may be too expensive for smaller companies to apply for such trademarks in all the locales they do business in.
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