Branding

Why do you need a brand at all? How does it affect sales? Definitely in a positive way! For the buyer, a brand always says several important things. For example, it tells about the origin of the product, the manufacturer takes responsibility for its goods, which means the buyer can purchase it with minimal risk. A company can establish itself in a good light, which affects the buyer's trust, and when purchasing this product or service there will be no doubts about its quality. Also, a well-known brand carries a certain prestige and gives a person status, which is likewise pleasant for consumers.

Read on: the process of creating a trademark, about positioning, and how to choose a name for a company.

There are two strategies:

The "Pull" strategy. It is characterized by a self-explanatory brand: from the name and logo it is immediately clear what the company does, what product or service it provides.
The "Push" strategy. From the name it is not clear what exactly the company does; this becomes known through promotion.

The process of creating a trademark

First we analyze the market, conduct research, define the target audience, and based on the data obtained we form the positioning and choose a strategy. After that we create a name and a logo, then develop unique packaging if it is required. We apply a promotion strategy and enter the market.

What is positioning?

Positioning is a strong, unique idea that sets a trademark apart from others. The task of positioning is to find one or several characteristics that will be used to distinguish your product from competitors.
How does it work? Try to answer the first thing that comes to mind to questions such as: "The safest car?" or "The bar that satisfies hunger?". We hear these phrases everywhere together with the corresponding brand, a stereotype is created, an answer is imposed.

Positioning conditions

Show the difference between your product or service and other similar products.
Be sure to show the benefit for the consumer. The buyer should receive either a physical or an emotional benefit.

Popular strategies:

• Leadership. The company claims that it is the first in something. For this strategy there must necessarily be confirmation of the fact that the company really is a leader by some parameter, otherwise you will be fined.
• Specialization. Provides goods or services for a specific audience.
• Being first. For this strategy you need to be first on the market, to offer the buyer something new.
• Price positioning. As a rule, many companies follow this strategy, but it is not the best option for small and medium-sized companies. Large companies can afford to lower the price and emphasize this. If you cannot afford that, it is better not to choose this strategy.
• Innovation. Introducing new products and technologies, improving already existing goods.
• Wide range. The company draws attention to the possibility of a wide choice for buyers, as the saying goes - "to suit every whim".

Naming:

This stage deserves considerable attention. The name is the strongest, most memorable identifier of a company or product. Moreover, there are a number of requirements.

Requirements for a name:

1) Patent and legal. The name must be checked and registered in order to protect yourself from future legal disputes and claims that you have taken someone else's name. There are a number of requirements, violation of which makes the name inadmissible for registration. The following are not allowed:
a) surnames or pseudonyms of famous people;
b) commonly accepted terms;
c) names indicating the type, category or quality.
2) Advertising and psychological requirements. The name should help you sell your product; it should be original and concise.
3) Phonosemantic features. The name should have an influence on a person's subconscious level and evoke the right emotions. Example: bright, light, safe.
4) Correspondence to positioning. The name should reflect the essence of the company's activity or at least not contradict it.
5) The target audience and testing the name on the target audience. As a rule, people start by asking relatives and acquaintances. If they are your target audience, then you can test it on them; if not, their opinion will hardly be useful for promoting the brand. Questions that should be asked:
a) Which name makes you trust this company?
b) What associations does this name evoke in you?

Psychotypes of people and motivation:

1) Hysteroid. Self-centered people, prone to posing. The motive is fashion.
2) Epileptoid. People are systematic and pragmatic. The motive is stability. Epileptoid (excitable). Fairly aggressive people. The motive is power.
3) Paranoid. Goal-oriented people, business style in clothing. The result is important. The motive is scale and a quick solution to the problem.
4) Emotive. Sensitive, gentle, kind people. The motive is comfort and harmony.
5) Schizoid. Original people who express this in their appearance. The motive is creativity and originality.
6) Hyperthymic. Cheerful, lively people. The motive is curiosity and communication.
7) Anxious. The motive is safety.

Types of names:

• Self-explanatory names. Pros - from the name it is clear what the company does. Cons - such names, as a rule, are easily counterfeited.
• Neologisms. An invented name that does not exist in nature. Pros - original, sounds beautiful. Cons - emotionally neutral.
• Compound.
• Creative.
• Classic.
• Abbreviation-based. Pros - easy to remember. Cons - difficulties may arise during registration.
• Surname-based names. Pros - as a rule, they inspire trust.