A recent conversation with a business executive reminded me that, for many non-marketers, there’s often vagueness or even confusion about the term “branding” and its application.
I suspect it’s connected to a fuzziness about what marketing is/does in general and the use and power of brands, branding and brand management in particular. That’s unfortunate because excellent marketing and effective brand management can be cornerstones for strong customer relationships and sustainable long-term business success.
Take last week’s announcement that Kroger is mounting a major 2018 holiday season push to sell specially branded toys via the launch of Geoffrey’s Toy Box across a multi-banner network of nearly 600 supermarkets. The branded store-within-a-store is a reconstituted marketing and brand concept created from Toys “R” Us intellectual property. More on this in a moment.
First, as a general principle, when it comes to your products and services, it’s an excellent idea to brand them. Doing so creates a distinct identity and perception with your customer that can generate sales, establish differentiation and produce loyal, repeat business. Lack of a brand name may put you into an unknown, generic box with everyone else. Continue reading