The Importance of Branding and Marketing
“If I was on to the last dollar, I would spend it on marketing and making the brand strong”- Bill Gates, former chairman Microsoft corporation.
Same sentiments exactly are of Mohit Mehra, CEO and founder of Barley Bean.
Below are his thoughts.
People take branding very seriously. They get attached to the brand and start visiting the business with the feeling of they being the owner of the brand. They become loyal, supportive and want the business to grow. This is what Branding does. But branding needs to evolve as well. Products that are sold need to be branded, private labeled or have an exclusive vendor relationship with the brand. Now throw the marketing and advertising on top of the branding, the brand amplifies automatically building more loyal customers and adding sales. An unbranded grocery market does well with the Gas brand behind it. For eg, Shell, chevron.. People look at the signs and drive in which in result helps the unbranded store. If there is no branding, the business itself becomes a brand and markets itself, either Good or bad, well the business can tell that by the numbers they do. Both marketing and branding need each other. At Barley Bean, we are investing heavily into branding and making sure that our quality of product which is our reputation is marketed the correct way. If you see the above picture, an unbranded cup of coffee, which is priced moderately, with no description will attract customers but would not guaranty their future business and loyalty as the customer does not know about the coffee and a bad coffee can lead to a bad day and a non-returning taste in the customers mouth, as opposed to the branded coffee cup which screams the quality and the brand strength, gives the information to the customer of what they are buying, is a little higher in price, it builds the loyalty, customer base, revenue and more business for the business owner with branding. It not only markets itself automatically but also grows at much faster pace. Create that brand friends. !!
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