In segments of less frantic demand (with more reasonable pricing than in the fashion industry), a brand increases product recognition among its peers, sets it apart from competitors. Another important function of branding is forming a habit in the regular customer, increasing their loyalty.
But how does a product's name, its trademark, become a brand? Why does one product become a brand while the rest of the competition languishes in the commodity swamp? The difference is this: for branded products that are currently successfully positioned on the market, brand development was carried out by professionals. For others, names are invented, as they say, «off the top of one's head».
When creating a creative concept that will form the basis for the future brand's development and promotion, it is important to consider several components:
1) Features of the product (a dubious idea – to name a brand of bulldozers «Daisy»);
2) Segment and price (a plastic bucket for 50 rubles is hardly worth calling «Deluxe»);
3) Target audience (a product for children can be called «Blue Puppy», but a product for men – hardly);
4) Its market positioning and intended promotion methods (butter positioned as «homemade, peasant-style» should not be called «technological» or in a foreign manner).
In addition, it is very important that the name is euphonious, although there are creative exceptions (but they must be well thought out and justified).
Brand development is only the beginning of the work to promote it. It will require accustoming the consumer to the brand, circulating it through various information sources. But then you will reap the rewards: paraphrasing a well-known proverb, first you invest in the brand, then the brand works for you.
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