Building a brand requires real understanding, knowledge, talent, correct creative skills, resources, and, of course, time.

Some businessmen think the product is the brand. Even a company itself is a brand they cannot recognize. The goodwill, image of the company can create an impact on the whole products or brand which they may not realize. They perhaps get to some understanding; when it has got some market hiccup, but before that they hardly bother. After experiencing any downside it is difficult to repair. Business people still do not understand that it is a matter of experience.

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Why is brand loyalty so important? For the business owner, it is easier to keep existing customers than to search out new customers. Advertising and marketing to new customers is four to six times more expensive than the cost of marketing to your existing customers. A brand-loyal customer is less sensitive to and less likely to stray to a competitor’s promotions.

Brand loyalty reduces customer loss, which improves business growth. You are not replacing lost customers to stay at the same sales volume. Customers must have a favorable attitude toward the product to develop loyalty.

Work on influencing the customer’s attitude. Be sure the customer gets what they want from the product. Create incentives for customers to repeat purchase though frequent buyer programs, gifts, give-aways or other creative means. Stand behind your product. If you don’t, they won’t. Know who your good customers are. Treat those customers well. Remember that once a customer always a customer is not a foregone conclusion.

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Branding isn’t just one aspect of your marketing campaign. It is the combination of everything your business stands for. Branding is not created with a single, stand-alone event — rather it is created over time through a series of strategically thought-out actions.

Let’s review a few common myths about branding and introduce some constructive, proactive branding principles worth remembering.

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Janice Spark in bizcommunity.com has five valuable lessons for brands entering new markets:

1. Value must be the core of the brand

New players seeking to gain market share in an established industry can generally expect to be met by a public with a mixture of hope and resigned cynicism. While some potential customers will display a touching belief that the new player will drive prices downward, many consumers believe first in the tendency of business to maintain monopolies, duopolies and a fixed range of prices.

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