Why create a brand for my product?
Both, companies who are already well established in the market as well as new entrepreneurs need to position their products. The best way to do this and allow them to acquire a certain value is to put a brand on the product, so that the consumer can identify the product and purchase it. Brand loyalty, is created once a brand has been established and properly positioned in the market and is acquired when the consumer consciously chooses one product over another.
In Nicaragua, in recent years, the registration of national brands created by new entrepreneurs has been increasing, as there has been a boom of new entrepreneurs, especially within the apparel and accessories industries, where there are now many local designers/manufacturers of clothing and accessories.
Some of these entrepreneurs have wanted to identify themselves with Nicaraguan culture by choosing brand names from Nicaraguan speech, some of which have proved to be a success, an example of this is the JINCHO brand, which has had a great acceptance by the young consumer, and even though the word JINCHO meant someone ignorant and bad taste, now JINCHO is a fashion sign, it is an urban brand that uses Nicaraguan speech phrases and images of idiosyncrasies typical of Nicaragua.
And so have arisen designers who use part of Nicaraguan speech and culture to brand their products and give them a special touch.
The creation of a brand is not a simple thing. If you are an entrepreneur, you do not have much of a budget to hire a banding expert in, but use your own ideas and experience to create a brand for your product. Before starting, here are some basic questions that can help you create your brand.
Why am I creating this brand?
What is the vision of the brand for the product?
Who is the brand addressed to?
These questions can help you start the process of creating an innovative, lasting brand with a loyal customer following.
The name of the brand is very important, as a good name can become a great asset in the promotion of the product, especially if you do not have a large budget for advertising.
Once created the brand the next step is to register it, for that it is necessary to fill a series of requirements, but the fundamental thing is that the brand is not in the assumptions of irregularity and that the brand has enough distinctive capacity, but although a brand has a distinctive capacity still does not make it totally registrable, nor should it damage an acquired right of third party, so if the mark is equal or similar in degree of confusion with another already registered, the mark can not be registered.
When you think of your brand, think of something innovative, something that creates its own memory and that does look or reflect any other brands, because it is a healthy competition between merchants who want to offer their products in the market in a loyal way.
As I said before, creating a brand is not something simple as your brand will be what distinguishes your products from others. The brand acquires an added value, and is quantified in the measure of how the brand on the product is perceived by the consumers, and the degree of satisfaction it brings them. This will create the brand loyalty and that will generate a lasting and competitive brand.
Don't forget to register your product! It is an essential part of creating a successful brand.