Sometimes your own name becomes a brand. Celebrities open a store or restaurant with their own name. After that it is smooth sailing. But is it that easy for celebrities. We shall answer that at the end of the article.
What is a brand?
A brand is a distinct line of products or services which are sold by a company or firm under a particular category. Sony Corporation launched the Walkman Brand as a distinct lineup of portable cassette players for personal use. The first model TPS-L2 was launched on 1st July 1979 and it created a buzz in the market. The next ten years marked the decade of the Walkman. First it began selling under different names in various countries, but eventually Sony stuck to the name “Walkman” for the complete lineup and any future releases. Till date, any gadget released by Sony, be it a mobile phone or a music player is always branded with the Walkman logo. The Walkman is a typical success story and the definition of a brand.
While the Walkman brand is in use even today and the portable cassette player ruled the music world for almost 20 years, the same cannot be said for the Blu-ray format. Launched in 2006, within five years it was replaced by the streaming media which was cheaper and more accessible to common users.
Business Brand
Companies which work towards popularizing a brand so that it becomes recognizable all over the world. This is called business branding and mostly they are designed to drive sales and visibility. Such branding has a high recall value. There might me many products launched under this brand but the products themselves are popular because of the brand name associated with it.
Corporate Branding
When corporations focus on the name of the company instead of product name, it is called corporate branding. There is no distinct advantage of business branding versus corporate branding. However it is what the company and their board of directors who decide what is best approach for maximum profits.
Brand Management
The art and process of getting a brand ready to convey the right message. It is a process to increase the value of the brand over time. A brand cannot be present everywhere at all times. So the strategy is to get the correct visibility to drive maximum sales. For example Rasna goes into overdrive with their advertisement during the summers when the sales are maximum.
Personal Branding
A mix of skills, qualities, personality and experience is what can be termed as personal branding. It is build over a period of time and since your world is online too, the brand also has to reflect accordingly. Your greatest connect will always remain your connect with contacts. So personal branding now assumes importance.
Individual Identity
The first set of quality and skills which come to anyone’s mind as soon as they think about you. It is your choice whether you want to build a personal or private identity. However, sooner or later, as an entrepreneur, you will be a public figure.
Online Presence
Perhaps the most neglected of all, the importance of online presence is increasing by the day. The time is not far when your offline presence will count lesser than online one.
Consistency and Authenticity
While the old saying of ‘Honesty is the best policy’ is so much true, you can also add consistency to it by rephrasing, consistent honesty is the best policy. Also note that your clients are sharp and smart. They can detect a fake from miles away.
Professional Growth
Once in a class for entrepreneurs, we asked this question “How much time do you devote for client work” and most of them replied, 100%. So where is the time left for knowledge, information and research.
Here is a reality check. If you spend all time for clients, you shall hit a plateau. The only way to avoid that is to keep your focus on study and growth.
Answer to the question in first paragraph
Being a celebrity or public figure is hard work. Imagine one wrong step and all efforts will go down the drain. So for a celebrity or public figure, it is more of a journey rather than one time achievement.
I am an MBA graduate with dual qualification in Finance and HR. I have done a Google Certified course in Digital Marketing. With many such qualifications under my belt, I am now focused on women entrepreneurship. With brands like SukaOne and Narisakti, I help women to make their idea to reality and navigate their way through the maze of digital work.