Top Selling Brands and How they did it
Branding is a subject that always has business executives in a twist. Some brands take tens of years to build, for example while some take a few years to get to the top, for example Bugatti. With adequate brand building business owners will begin to see better revenues on their accounting, in this day and age online accounting is the best way around it. What does it take to make a brand instantly recognizable and have a loyal following?
Is the major common attribute of any serious brand, immediately we see their logo, we can connect and communicate with them, Adiddas used a logo at time for more than 20 years and they kept a tradition os 3 strikes across any design they want to adopt, this simple yet powerful tool makes it very easy to always identify them anywhere.
Some brands get to the top by building trust over time. the brand becomes associated with quality products or services. Rolex will say they have been making high quality watches since 1905. A Rolex watch would inspire more trust than a Chinese watch even if they have the same features.
Brands can also build trust by the design of their products. Volvo cars are a good example. The sturdy boxy look of a Volvo inspires trust in the safety of the car.
Pricing is also a powerful brand differentiator. Brands that command a premium are highly rated because of their exclusivity. The car makers do this very well. Rolls Royce is recognizable as a premium car brand due to the high pricing of the cars.
There are no significant differences between a Volvo and Rolls Royce saloon for example, other than the brand, but the pricing difference is very significant.
The fashion industry is another good example that drives sales with price exclusivity. There is a world of difference in the price for a Calvin Klein pair of jeans, and a pair of Vietnamese labeled knock-offs. This inference of class drives top fashion brands like Armani, Gucci and other high end designer brands.
Brands make big efforts to be associated with certain images. A Jeep is associated with outdoors rugged driving, while a Coke soda is associated with fun. This association is gradually enforced in the customers that needs which bring that image to mind evoke the brand. You are more likely to ask for a Coke can than a relatively unknown brand at an outdoors event.
The sales staff and sales management have a huge impact on branding. The yellow colors of a McDonalds are instantly recognizable world over. The black bottle of Guinness beer is also a well-known brand.
Some brands command respect from association with innovation. Tech firms Apple and Google have exploited this very well. Anyone looking for a fully featured smartphone will most likely go for an iPhone, and most web searches are done on Google as a starting point. Customers will follow any new products from these brands and are even willing to pay more to have them.
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