Define Your Product
Are you producing something of value to your audience, that will become better the your competition? Then you need to build your brand on this product.
When you brand, you want to build a positive collection of perceptions in the minds of your audience ,or better yet, you are using the ultimate tool called consistency.
There are two types of products: Commodities & Branded Products. Here’s the difference:
- Commodities — These are your basic products or generics, if you will. There is no distinguishing labeling attached to the product, other than a price tag, to help the consumer decide on what to buy.
- Branded Products — Better known as consumer brands. When the product has distinguishing characteristics that place it into the “better” category in the eyes of the consumer
It’s the difference between buying a coke and buying COKE.
According to the definition of commodities, the two are both soft drinks but consumers are more familiar with the COKE brand, thus making COKE the branded product. People make their purchases of certain products over others simply because of the branding attached to the preferred product. The attached branding is what the consumer believes and trusts to be true each time the make their purchase. When you are able to prove why your product is better than the next you have just branded your business.
Originally published at simplifiedva.com on January 21, 2015.