Developing A Brand

Although no one likes to be pigeonholed different interest groups are attracted by brands built on various bases. There are retail brands that encompass more that one core characteristic though generally they are known to excel in one primary area.

The list of options available to you is only limited by your imagination and the importance of the attributes to your target group as well as the group’s potential size and spending power.

*Price - It’s always about the price although fashion and volume of selection or just the volume of buyers a store can handle and still not run short of product can also be a feature that adds value to the Brand.

*Fashionista – Carries products that serve the already established trends shopper or individual special groups.

*Personification – This can be a fictitious person who is then imbued with the Brand’s character, a real person like Jared at Subway (this is also a good example of the continuing evolution of a brand to capitalize on a trend), or the founder as demonstrated by J. Peterman.

*Authentic – If it’s already happened it’s real. Brands that are based on nostalgia even if it has an updated spin on it are deemed authentic. Businesses that by nature of the services they provide i.e. banks, medical service providers, often choose a reliable and dependable model.

*Socially Responsible – Increasingly young people are choosing social responsibility to give meaning to their life. They want to work for social responsible employers and support socially responsible companies by purchasing their products/services.

*Cutting Edge – There are always those who want to be market leaders. These people want to have the latest, greatest, and will support experimental products; this a precarious brand position to take since you are in the position of creating a group instead of taping into a distinct market that already exists.

*Elegant – High end based on already existing distinct Brands. Your contribution to the unique Brand becomes your ability to put a distinctive spin on the service, mix of brands you carry and your ability to meld the various individual offerings and create characteristics that belong to you alone.

 

Create a place where people can share their passions and you have the key to Brand Attraction that leads to that all-important Sales Transaction.