What is a brand? The definition can take on many varieties for many people, but the legal definition of a brand is a trademark.
A brand is also a combination of the intangible sum of a product’s attributes according to “the father of advertising” David Oglilvy.
A brand name is the name given to a group of products by the manufacturer.
What are the characteristics of a brand?
- Differentiation from other products
- Evokes emotions
- Informs the buyer
Companies work hard to build up a brand name. Having a recognized brand drives sales and inspires customer loyalty. These companies have excelled at building brand loyalty and customer love. If a company creates a successful brand they can have customers for life.
Walmart, Amazon and Geico all have recognizable brand names.
They have all worked hard to first create great products and services and then differentiate them from their competitions.
Every business should have a mission and values. They should have a great product or service, but also a message. What does a business want the world to know about their product? What story are they trying to tell?
I created You Need To Be Rich! because I had a story to tell.
I was let go from a job and had to figure out how I was going to survive. I took control of my financial future and wanted to teach others how to do the same.
A great product or services solves a problem even if the person buying the product does not know they have a problem or something in their life could be easier.
That is where a great brand comes in. Nike makes running shoes. They solved an age old problem: How can my shoes help me run faster or make my workout better. It needs to look and feel good also.
These are 5 companies that have created the top brands in the world:
- Starbucks – SBUX
- Nike – NKE
- Disney – DIS
- Toyota – TOY
- McDonalds – MCD
These companies have all reached the top of their markets. We could all learn something from what they have done right.
What is the message that they are trying to convey?
How do their products make people feel?
We can have the same effect as them. What message are you putting out there? What does your story say or tell? Are you inspiring people to follow you or buy into your dreams?
You can follow the same path that these companies have. What have they done that has worked and how can you apply that to your life?
Who are you trying to reach? Man or woman. Young or old. Single or family.
When you answer all of these questions then move towards that goal. Once you have a message and product or service that is better than everyone elses then people will buy from you. People will buy into what you are selling.
Brand is something extremely valuable. That you can only build oved time.
That is why these companies are a good investment. They have build brands that people love so much they will be lifelong customers. They will pay a premium for the brand they have built.
A few name brands that pay dividends:
- T – AT&T
- XOM – Exxon Mobil
- COST – Costco
Name brand companies have a loyal following of customers which leads to a steady stream of income. This income can be returned to the shareholders in dvidiends.
Dividends are amazing because they are taxed as portfolio income, less than earned income. And of course you get money for doing nothing.
Name brands stocks are ones that you should hold for a lifetime.
Do no expext to get rich quick off these companies. They have saturated the market, which provides makes them less risky than startups, but also limits their future growth. Although technology is changing the growth game.
Your products can now reach a worldwide audience via the web. But hold these companies for a lifetime and you see capital gains and dividend income.
You can even pass these stocks down to your grandchildren and who know how much they will be worth.
Leave a comment with your thoughts.
Subscriber. New articles Monday – Friday.