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Merits and Demerits of Co-Branding

Merits and Demerits of Co-Branding

Co-branding, also known as brand partnership is a marketing strategy that involves strategic alliance of multiple names jointly used on single product or service. It is when two established brand names of different companies are used in the same product. An example is when Nabisco allied with Pillsbury to create Pillsbury Oreo Bars baking mix.

Co-branding has a number of merits. Since each brand has its inherent strengths, the combined brands invariably create broader consumer appeal and greater brand equity. Brand equity is pivotal to branding. In addition, co-branding allows a company to expand its existing brand into a category it might ordinarily not be able to penetrate alone.

However, co-branding also has a number of demerits. Co-branding entails complex legal contracts and licences. The co-branding partners must also attain synergy in their advertising, sales promotion, and other marketing efforts. Lastly, each co-branding partner must have absolute trust in each other. This mutual trust is not always easy to attain.

Dr Olusola Oso

Founder/CEO, Pendrof

Selecting A Brand Name

Selecting A Brand Name

Selecting a brand name forms an integral aspect of branding. This is because a carefully selected name can contribute immensely to a product’s success. However, coming up with the best brand name is not an easy task. You must carefully review the product, its benefits, its target market, and the proposed marketing strategies. The name, Facebook, for instance, reflects the product it offers. The brand name has contributed immeasurably towards the great popularity and resounding success of Facebook as a brand.

When you are developing a name for your business, product, or service, you have a number of options:

  1. Use the founder or inventor’s name (e.g. Walmart, Hewlett-Packard, Evans Brothers)
  2. Describe what you do (e.g. Arik Airlines)
  3. Describe an experience or image (e.g.Sprint)
  4. Make up a word (e.g. Google)
  5. Take a word out of context (e.g. Apple).

A brand name has certain desirable qualities. These include:

  1. It should suggest something about the products qualities. Examples include Beautycrest, Facebook.
  2. It should be easy to pronounce, e.g. Zenith Bank, Pendrof.
  3. It should be preferably short, easy to recognise and remember.
  4. The brand name should be distinctive, e.g. Oracle, Kodak, Lexus.
  5. It should give room for future expansion of the business, e.g. Amazon.com.
  6. The brand name should translate easily into foreign languages.
  7. Finally, it should be capable of registration and legal protection. A brand name cannot be registered if it infringes on existing brand names. To check if your brand name won’t encounter this problem, you can simply check its availability on GoDaddy.

Dr Olusola Oso

Benefits of Content Marketing to Your Business

Benefits of Content Marketing to Your Business

The highly influential Content Marketing Institute defines Content Marketing as “a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly defined audience- and ultimately, to drive profitable customer action.

It involves a deliberate and steady provision of truly relevant and useful content to your prospects and customers to help them solve their issues.

Content marketing provides a plethora of great benefits to your companies and businesses. Some of these will be discussed.

  1. It builds your online presence: Content drives visitors to your websites, and boosts other key metrics. Quality content which is posted consistently will make visitors to visit your website again and again. It is one of the reasons why Nairaland is one of the most popular websites in Nigeria. The website, which is in form of a forum, posts contents regularly.
  2. Build Trust With Your Visitors: The more content you create and share with your target audience, the clearer it becomes that you are an authority in your field.
  3. Attracts followers: Social media is pivotal to today’s B2C and B2B marketplace. Content marketing can enable your company or business create relevant and compelling content that will be widely shared on various social media platforms.
  4. Great for SEO: Content Marketing goes a long way in boosting your Search Engine Optimization. Dr Olusola Oso
What Is Brand Equity?

What Is Brand Equity?

Investopedia defines brand equity as “a value premium that a company generates from a product with a recognizable name when compared with generic.”

Brands transcend mere names and symbols. They represent consumers’ perception and feelings about a product and its performance.

Powerful brands command high brand equity. As Investopedia’s definition suggests, a measure of a brand’s equity is the extent to which customers are willing to pay more for the brand. According to a study, 72 percent of customers would pay a 20 percent premuim for their brand of choice relative to the closest competing brand.

Without mincing words, a brand with strong brand equity is a very valuable asset.

Like every enviable thing in life, you cannot get brand equity on a platter of gold. You labour for it. It takes perseverance, and deliberate efforts in branding in order to achieve brand equity.Coca-Cola, Apple, Nokia, and Microsoft are examples of multinationals with high brand equity.

Dr Olusola Oso

Founder/CEO, Pendrof

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