I just finished reading this wonderful book. I like to share it with you, my lovely reader. So I summarized this 300-page book in one page and 20 points. Enjoy reading and using them!
Branding For Dummies: Discover a dynamic system for brand creation and management
Bill Chiaravalle and Barbara Findlay Schenck, Wiley Publishing, Inc. 2009
Summary of the book by Dr. Khosrow Sobhe (Dr. Kay)
1- Brands are promises that consumers believe in.
2- Brands are about building trust.
3- Consumers are willing to pay more to buy brands.
4- Retailers provide brands greater store visibility, because brands drive sales and more store revenues.
5- Your brand is your reputation, and identity.
6- Branding is to build, maintain and to protect a positive image, high awareness, and product preference in consumer’s minds.
7- Your brand is your point of differences.
8- The promise you make and keep is the backbone of your brand and the basis of your reputation.
9- Branding grows from the top down, and inside out. It needs commitment from the highest levels of leadership and support from employees.
10- The minute you get customers to believe “your goods/services are different and better and here’s why”, you turn your name into a brand.
11- Personal brands reflect personal reputations. They differentiate individuals by creating awareness of who they are, and what they stand for.
12- By developing a personal brand, you can establish yourself as an expert in the field. You can also differentiate yourself from your competitors.
13- Decide what you’re going to brand. A product, a service, a company, or an individual.
14- Building a brand doesn’t have to cost a fortune, but building a brand which is worth a fortune require target marketing and utmost consistency.
15- “If you don’t have the heaviest hammer, use the sharpest nail.” That is if you don’t have a high marketing budget, work on two things: A- Market Awareness B- Product/services distinction.
16- Your brand should have your heart and soul in it.
17- Products are made in the factory, but brands are created in the mind.
18- The key to your branding and market position is your point of difference and distinction. This is what sets you apart from your competitors.
19- Be sure that your point of difference is one you can protect. For instance, don’t base your position on having the lowest price because a competitor can always beat you on that front.
20- If you were to compare your business to a car, what car would it be, and why?
Khosrow Sobhe (Dr. Kay)
Certified Rug Specialist (CRS)
www.RugIdea.com
www.LosAngelesRugCleaning.com
310-770-9085
Dr. Kay, you've done a wonderful job summarizing what branding is and does, and what it takes to build a brand. I'm the book's co-author, and I'm impressed with your list. If your blog readers want more info, I invite them to visit my website, http://www.bizstrong.com, where I keep a resource page with links to Branding for Dummies excerpts and advice. Also, I post ongoing information at facebook.com/bizstrong. Best wishes to you and your business!
Barbara Findlay Schenck