Benchmark Business Group

Positioning and Branding - 2010 Archive

Every business has a brand.  Successful businesses intentionally craft their brand and position their business in the mind of the client.  As a small business you might not have the marketing budget of the big names, but that doesn't mean that you can't create a winning branding strategy.   Below are a collection of articles on branding and positioning your business from our weekly Business Owner Insights.

Business Brand Checkup

Due to the changing economic climate, many companies have experienced either no growth, or worse, a decline in revenues from previous years.  There is nothing quite like a loss in revenues to prompt a company to take a hard look at their branding.  Branding is the process of creating an identity in the marketplace, one that is a reflection of your company, not just what you want your company to be.  Once your brand is identified and you build the marketing messages and sensory package that supports your brand - you need to ensure your company can live up to it.  The experience you provide your customers must equal or surpass the expectations your brand creates. 

Rebranding to position your business to new markets or to reposition your business in the same market can be a risky strategy.   A dramatic rebranding may result in some loss of current customers.  For example, if you currently attract upscale professionals approaching retirement and you change your brand to appeal to young value minded families, you may lose the appeal you have to your current customers.

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