Welcome Guest

Home Article Managing A Business Sales Marketing Advertising  Know your Brand

Know your Brand

Do you know your brand? The answer might seem very simple but it actually isnít.

Tags: what are you selling, know your brand, branding, marketing

BY Entrepreneur  |  Feb 22, 2010 comments ( 2 ) |

Ask yourself- what are you selling? Or put it this way, what is it that customers are buying from you? Many businessmen sell commodities to their customers in a way to maximise profits without knowing as to what exactly it is, that they are selling. Businessmen turn successful if they understand as to what is there in their product that the customer would like to purchase. You cannot sell your products if you don’t know what they are.


Five points to help you understand your product clearer:


1. What do you sell:


Do you sell a product, a service or both? Companies like PepsiCo, Godrej consumer goods, Britannia, Unilever and other FMCG companies sell products while a company like Maruti Udyog, GM sell both, products and services, i.e., the car and after sales service.  IT consulting companies like Accenture, Infosys and Legal and medical professional services firms sell services only and not products. Similar is the case with multiplexes like PVR and Wave Cinema.


2. Use and Benefits:


What value, do you think is your brand likely to add to your customer’s life in terms of benefits and advantage? Also think how is your product better than your competitor’s or in other words, what is your product differentiator and USP. A brand like SBI (State Bank of India) provides easy banking solutions and is better than others due to its largest chain of ATMs. Similarly, retail stores like BigBazar and Walmart are famous for their discounted sales in India and in the US respectively. A clearer picture of this would also help you in marketing your product better.

TIP- Sell product ‘benefit’ rather than selling product ‘features’


3. Product Kind:


Is your product a luxurious commodity or a necessity item? A product like Mobile or Cell phone which was considered a luxurious good some time back is now a necessary product. Is you commodity one of these kinds? Is your product seasonal or something which can be sold throughout the year?

TIP- Try to convert your product or service into a ‘need’ for your customers rather than selling it as a ‘want’.


4. Market it caters to:


What kind of market is your product meant for? Is it for Upper, Upper-middle, Middle or Economic and budget item? A car like, Mercedes and BMW, is meant for the upper-class group of people while Tata Nano is a budget car meant for middle class customers. Similarly a mobile phone of blackberry is a luxurious item (though it is changing) while the basic models of Nokia are an economic product.

TIP- Marketing of products meant for different class of people should be done differently.


5. Limitations:


It is also important to note the limitations of your product. However, good your product might be in the market, it would always be having some limitations and drawbacks. Think on how can these limitations be curbed. You should work on the drawbacks to improve your product.


Keeping these points in mind, identify your brand to make it better understood by your customers.




Please add your comment

raies shah

July 25, 2011 at 1:11 am

wanna know about it in detail..for franchise purpose.

Reply |


February 22, 2010 at 10:22 pm

sir i am interested of your productes so kindly give me information that what process for taking franchies , so please give me complete information sanjay

Reply |

Not readable? Change text. Enter the characters as seen on the image (case insensitive)
  Notify me of follow up comments via e-mail   Subscribe for daily newsletter

Related Articles

Sales through social network

BY Entrepreneur

Do you want to sell your products and get business ideas? Globally there are over 300 social networking sites that can facilitate this process, but Li...

Get Your Business in the News

BY Entrepreneur

Like many business owners, you may feel that your regular monthly ad in the newspaper is enough publicity for the month and all you have to do is sit ...

PR as marketing tool

BY Entrepreneur

The essence of carrying out PR activities lies in the art of building trust. This trust might be between a brand and its prospective consumers, for a ...

Reach out with Virtual Media Rooms

BY Amrita Premrajan

Every business, whether small, medium or large, craves to catch the attention of media. The reason being, media coverage is indispensable for you to d...

Sales Letter : Your Salesman in An Envel

BY Amrita Premrajan

How many times have you tossed away a shabby and crammed text that was full of boring lengthy texts, jargons, cluttered with words in all possible fon...

First Appearance

BY Entrepreneur

Ever wondered how to make your company known better without shelling out too many currency notes? The answer to this is easy - appear on the first pag...

Leveraging Trade Shows

BY Entrepreneur

Trade shows and exhibitions are the most promising platforms for conducting business. Visitors come here to explore the latest in the business world a...

Blogging Helps Small Businesses

BY Entrepreneur

With stake holders relying more and more on the internet to know about the company they are working with or will work with in the future, it is very n...

Boost your Sales through Telemarketing

BY Entrepreneur

If you are a manufacturing company or a service provider and you are looking to penetrate into the market while keeping your costs down, an effecti...

6 Steps to a Successful Marketing Plan

BY Entrepreneur

A marketing plan serves as a roadmap for your marketing activities to reach your goals. To lay out an effective plan, begin with understanding the ...

Power of Online Press Releases

BY Entrepreneur

What do you do if you have to announce the launch a new product, an upcoming event or your company’s expansion plans? Conventionally you will...

Price them Right

BY Entrepreneur

Pricing, the most important element among the 4Ps, needs special attention as this determines the profit margin of any business. Industry experts f...