How An Engaging Brand Name Will Always Be More Than Half Of Your Product?
When the steam engine was created we had no doubt. When feudalism fell and people have risen to power we had none either. Yet today, all academics of the world can unanimously agree that this day of age can be called the Marketing era. Some two decades ago when the present-day president of USA Donald Trump was asked by a TV presenter, what would he do if he magically spent out of all his wealth and was left with nothing but five dollars? He immediately answered that he would invest one dollar in the product and four in the marketing. The world and all of its services have only gone more deeply rooted with needs of relentless representation and spending millions upon millions of dollars to eliminate competition just so that your product can be represented for a few seconds more. Its all for the sake of profit. And of course, all worth it. How come that we came to the conclusion that the cover of the book is much more relevant than the actual content?
Right Representation Above All, Even Your Eventual Profit
We have all been there at the moment when our businesses started to make its first baby steps. Bashing our heads with possible company name ideas, how we will represent our goods and stating that whatever our competition is doing we will, of course, do much better. No matter what your services may be the brand name is the key player in the potential success of your sales.
If we stop for a moment and walk outside to ask passengers what do they think about the most famous brands the answers would probably be all the same. Of course, the best soft drink in the world is Coca-Cola, that Nike has the most comfortable sports gear and what about the best smartphone? You can already guess, its iPhone. Is the iPhone the best smartphone that you can buy for such a high price? Probably not just as Coca-Cola isn’t the most healthy drink to enjoy but regardless of the true facts that you can throw at peoples face nothing will still hit them harder than the Marketing strategy conducted by these gigantic brands.
They have won over your mind with simplicity and aesthetics. Their brand names echo much louder in the mind of society not because they sound better but simply for the fact that they were repeated so many times that an average confused buyer can’t really differentiates the best product for his needs. In such confusion, he always reaches for the “safer” and “verified” solution, because hey if everybody has one then it must be good for me too, right? Plain and dumb as this may sound you need to acknowledge two important facts regarding the previous question.
The world we live in belongs to millennials. And the second one is that this is just the way millennials are thinking before buying a product or service previously unknown to them. Therefore it is easy to conclude that the representation of your product with an engaging name and attractive package will prove to be the key to skyrocketing sales.
Remember one essential thought before launching a new product to the market with the name that you just created. Pretty much all services and goods launched today are more or less regulated and controlled by various government organizations and agencies. Hence the conclusion that nearly all products are in overall similar one to another in terms of quality. The previously mentioned Iphone’s production cost is 10% of its sale price.
Yet what makes the extra 90% of the profit is the brand name that resonates louder than its counterparts. Think of the most original and engaging way to represent your services/goods and before you know it your profits may jump higher than you ever expected. Not that anyone ever said that that is an easy task to do. But remember one thing, your ingenuity will position you much higher than your competition if only you could think of that right idea on how to amaze with representation.