1. Brand building: Saving advertising cost
Branding is often confused to be linked directly to advertising. It is considered that
company should spend more on advertising to build its brand among customers. Brand is
something more than just promoting name or logo of the company.
Yes branding can be done without advertising and its practically possible to save
advertising cost. Most of the companies spend huge on advertising with a mindset to
promote their brands but that’s the basic mistake. Firstly you need to have a clear vision
and mission statement of a brand align to channel partners and everyone associated with
the company. That’s the basic and foremost important parameter. To have a brand you
need to have product delivering value to the customers. Product Value should match
perceived value of the customers. The only differentiating factor is product which will
make your customer speak about your brand henceforth. Set of customers who will try
your product with knowing your brand will be risk seekers and those are usually opinion
leaders in a market.
Everything should be right about the product and value it will deliver. In absence of
advertisement supporting brand, product plays the most important role in brand building.
Instead of making jazzy