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The impact of a name reinforces the importance of branding when we promote our business.
When you are considering the name of your company, you need to remember the following:
• Deciding on a name is not a fluke, but instead is a well thought-out process and analysis of names and meaning.
• The importance of branding begins with creating a simple name for your company. Consumers remember simple.
• Making sure your name can be associated with a positive value, characteristic, or position is part of the importance of branding. Consumers like products to which they can associate positive qualities.
• Your name must be different and unique. If your name is too close to another company's then people are likely to mix you up, which reduces revenue.
• The importance of branding needs to be voiced to your employees so that your message is clear to all of your employees and the public.
• If you have a vision or goal statement, then you need to voice the importance of branding here also.
• Remember that brand name recognition can increase your profits by between 10 to 20 percent.
Believe in your brand name, what it means, and consumers will follow.
by C. Fuchs |
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