Ch. 2: Branding Your Business

1
Ch. 2 Branding Your Business

• Recognize the importance of branding
• Take steps to build brand power
• Maximize your brand potential
• Define various types of customers
• Identify your customers and learn the importance
  of knowing them
• Determine what motivates customers to buy

2
Naming Your Retail Business

• Memorable
• Image-driven
• Short
• Easy to spell
• Easy to pronounce
• Not generic
• Clever but clear
• Research others possible use of your selections

• Nothing negative or offensive (in any language)
• Think staying power
• URL availability for Web site
• Register name with state and U.S.
  Patent/Trademark Office

3
Creating a Business Logo

• Keep it simple, easy to recognize
• Select font size/style carefully
• Seek out and study other logos you like
• Hire a graphic designer to create 2 or 3 options
• Ask a variety of opinions about the prospective
  designs
• Select colors adaptable to other types of trade
  dressing

4
Becoming a Retail Expert

• Continue your research, about your specific
  product lines and your industry in general.
• Make it a point to know more than your peers.
  Take additional classes.
• Obtain credentials, such as professional
  certification in your field.
• Make yourself available for comments, features to
  the local news media.
• Hone your public speaking skills. Give seminars,
  presentations to civic groups.

5
Top 10 Reasons Customers are Lost

• Salesperson on phone
• Store inconvenient
• Store dirty or smelled bad
• Store didnt have what customer wanted
• Salesperson lacked product knowledge

• Waiting lines too long
• Didnt have advertised goods in stock
• Felt ignored
• Salespeople pushy
• No one at cash wrap when ready to pay