Top 5 Branding Myths Busted

Here are the set of top 5 Branding Myths busted for all entrepreneurs and innovators. Wake up, if you’re one of these.

If our product is great, no one could hinder in its success
Too bad if you believe that. A product’s awareness is as much important in its success as is its utility. Many a times, good products fail to comparatively worse products because of a non-existent Brand Strategy.
A brand would rather succeed than fail
Is this you? If yes, then you have 1 in 10 chances to prove me wrong. According to US dept of Commerce, ‘90% of products would die in the first five years of inception’.
Brands can only be built on through Advertising
Wrong, Advertising only help in building awareness and branding goes beyond awareness. A million people or more around the world are aware of ‘computer viruses’, but how many would want a virus on their Personal Computer? Branding is also about creating emotional feelings in consumers mind and advertising is not the only way this can be done.
All that is new, must sell
Think again, a combination of different research papers conclude that approximately 80% of new products fail. The papers include Business Week, Rosen, Dodd, Ross Federal Research Corp.
We have designed our Logo well, and yet branding has not worked for us
Branding is one of the most misunderstood marketing practice. It goes way beyond designing attractive logos. Without a Brand Strategy there is no LOGO that is well designed. You must design a Logo that compliments your Brand Strategy.