InvestorQ : How to go about branding the business and what are the key steps to be taken up in this case?
Rashi Mehra made post

How to go about branding the business and what are the key steps to be taken up in this case?

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sarah Leo answered.
1 year ago
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An important step is to go ahead and brand your product. Branding is almost as important as IP rights for your company as it builds your company’s image and reputation. Branding is more than just choosing a name for your company as it builds identity and projects the idea. Your branding exercise must encompass and cover not just your current product, but also its future potential. For example, if you are planning to build a platform for selling books on an online platform, you cannot just restrict its name to highlight books as you might expand to selling other products in the future. If your business name just shows that you are seller of books, then it could limit its potential and appeal. That is the reason that Barnes & Noble had with Amazon, which almost took away its entire share. B&N was still associated only with books whereas Amazon has emerged as an agnostic platform. The name helped along the way. As an entrepreneur you must be passionate about your brand so select your brand name and representation accordingly. For example, Nestle changed the recipe of their noodle Maggi a few years back and lost a huge chunk of their customers due to it. Of course, don’t forget to secure your website domain name and other associated marketing materials as it would be much harder to secure later on or might not even be available to use.

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