There are many steps in generating a successful brand and some make it more challenging than others. The three biggest challenges are difficulty in differentiating, decreasing advertising expenditure, and decreasing brand loyalty in many categories.
Brand differentiating is when certain characteristics make your brand unique from others. This is when a consumer has a certain perspective of your brand and assumes your brand will always live up to those expectations. This is considered to be difficult due to many brands having the same types of products; so choosing a certain characteristic to set them apart can be hard. For example look at the following image below:
This image shows Crest and Colgate toothpaste tubes. Both tubes use the same colors and are shaped the same, so when walking down the aisle what makes these different - the brand. Crest is all about improving the health of your smile, while Colgate is about healthy smiles. So why do people choose Colgate over Crest or vise versa? It all comes down to which brand has that one characteristic that makes it different from the others. It depends on which toothpaste has always given you the results their brand claims to do. As you can see it is very hard to differentiate one brand from another when many of the products are the same and offer the same features. The key is if your brand is successful in it’s branding, then when it introduces new products consumers will purchase the product, due to liking the brand.
A major problem when it comes to product branding is decreasing advertising expenditures or the limited amount of money that brands have to spend on advertising. This problem really comes into play due to the difference in size of large corporat...
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...extremely hard time trying to enter the market and win over those brand loyal consumers. That company would have to try to target the consumer that might not have a preference on what kind of cell phone they carry or if they have an iPhone or Android. They would have to create their own identity in that particular market share by decreasing other company’s brand loyalties. This is why we consider this to be in the top three hardest things to make a successful brand.
While there is many problems that companies face when establishing their brand, at the current time, difficulty with differentiating themselves from other companies, limited advertising expenditures, and difficulty decreasing the loyalty that consumers have for other brands are most important. While these are important now, with changing times, the problems companies face with branding can change as well.
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