Elevation Tip on Branding
by ShaChena Gibbs
Elevation Tip: What’s the difference in a No Frills Brand and a Premium Brand? Let me share my experience with you.
One day I went into a store to buy dog food. I notice the Brand name one I normally buy….but next to it was a store brand that look exactly the same however it was $1.00 less. I brought it.
When I got it home, I was looking for the coupon I normally get with the Brand name dog food. No coupon…shucks!
So branding means a lot in your business. The dog food with the brand name was $1.00 more and includes a coupon for $1.50 off your next purchase. So if I had brought the brand name one I would have saved a $1.50 plus had given my dogs premium dog food. The store brand (no frills) I only saved a $1.00 + no coupon + they really didn’t enjoy it. Lesson learned!
When you are developing your business and your brand…you must know what your message to your target audience will be. Will you have a high end brand? low end brand? or low end with a high end appeal? or both?
Look at the brands you purchase in your everyday life. What are they saying to you? Compare the packaging, the quality of the products, etc. How can you improve your brand to stand out or begin speaking another language to your consumers?