Branding and Differentiation
Elements of Branding
Uniqueness, reasonable prices, reliability, loyalty, good customer service, quality.
Branding is all of the above, these things make a good brand. Popular brands like Apple have all of the elements above which make the company popular with their customers. What others think of your business. To succeed in branding you must understand the needs and wants of your customers and prospects.
What Is Differentiation?
Differentiation is what makes a company different from another company. this can be how the product looks, what they sell, the target market.
Benefits of Branding and Differentiation
High Profit, more/new customers, loyalty from your customers towards your business.
Problems of Branding and Differentiation
You can lose profit, lose customers and get a bad reputation.