First let’s talk about the definition of, “BRAND”
I do not want reinvent the wheel, therefor, I am sharing a brand definition from a top marketer, Seth Godin. His version is, “A brand is the set of expectations, memories, stories and relationships that, taken together, account for a consumer’s decision to choose one product or service over another.
If the consumer (whether it’s a business, a buyer, a voter or a donor) doesn’t pay a premium, make a selection or spread the word, then no brand value exists for that consumer.”
That sums it all right? Right!
5 reasons why building your own brand (byobrand) is so important in today’s market
- Manufacturersare now selling direct to consumer rather then using a wholesaler and has cut the middleman out (the Internet is the new middleman) therefore, selling other people’s products is not sustainable, long term.
- A marketplacelike Amazon has taken over the distribution of branded products, so it becomes too difficult to compete.
- Branding your ownproduct, service or self is the way of the future and the future is here. This is not a fad, it is the new way of doing business. Whether you are a retailer with a physical location or a brick and motar shop, if you don’t start branding your own you will be left behind.
- The Internet facilitates the direct to consumer model. With very little money to invest, anyone can manufacture and distribute a product directly to its customers. What’s changed in the last 3-5 years? Smaller quantities are accessiblefor manufacturing a product. Ecommerce platformsuch as Shopify offers a quick turnkey operation for a small fee, so no need to hire a big team of coders.
- Many manufacturers offers the private labelingconcept instead of going direct to consumer, therefore, this facilitate the startup venture.
In conclusion, I highly recommend you seek the help of a professional in this field. The Internet offers a lot of free advice but if you are pushed toward the wrong direction if can be very costly. If you would like more information, please send me an email, it will be my pleasure to help or give you advise as to where to begin on your new journey.
I help you byoBrand and master social media through content creation all the while perfecting your health. I breath marketing, i live the online space and my world rocks. How would you like to rock your world like a star?
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