Advantages And Challenges Of Branding

1322 Words6 Pages
EXPERT VIEWS Some of the challenges that the SME’s face related to Branding are:
• Most SME’s don’t have a proper Brand Strategy in place. The effort put into Marketing, Advertising, and Public relations is sometimes put in even without knowing what Branding is.
• The organization lack information and knowledge on the concept of Branding. It is important to make them realize that it is an important long term strategy to be in the minds of the customers, stay ahead of competition, building equity etc. This can be achieved through training but also requires commitment and trust in the process.
• Another problem is of Investment. For a lot of SME’s still this is a long term investment, and it is difficult for them to make decisions around
…show more content…
(L Berry, 2000) Dare to be different: Companies try their best to create a distinct brand of themselves. At every service point they showcase how different they are form the others. It is important to use strategically effective and out of the box methods to stand out away from the competition.
Determine your own fame: Apart from differing from the competition the brand also represents a valuable market offer. It basically is a company reason for being. It informs the customers what the company wants to be famous for .Basically it’s about identifying and fulfilling those needs with difference from the competition. With time, these companies become famous because of their excellent skills, controlled messages, customer experience and word of mouth communication.
Make an Emotional connection: Brands do create an emotional connection by relating to the core values of the customers. In service branding corporate values cannot be faked. The true values are shown in the kind of experience that the customers have in service marketing. It is

not the communication but the service at every touch point that make customer loyal and create positive word of mouth to
…show more content…
It’s the on the job performances which turns it into a customer-experience brand rather then it being a marketer articulated brand. So it gave a good understanding on the basics of branding in services marketing which could be related to Ideaspice and several aspects could be compared to see what all areas are good and what all areas need improvement. Positive brand equity is the marketing advantage that accrues to a company from the synergy of brand awareness and brand meaning. Strong brands increase customer’s trust of invisible products while helping them to better understand and visualize what they are buying (Leonard,

More about Advantages And Challenges Of Branding

Open Document