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This chapter presents the following content: 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. | 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 This is the overview of topics at the beginning of Chapter 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 When each of these factors is taken into account, it becomes more difficult to select a great name that someone else hasn’t already decided to use 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 | 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 This is the overview of topics at the beginning of Chapter 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 When each of these factors is taken into account, it becomes more difficult to select a great name that someone else hasn’t already decided to use 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 A logo is just as important as a signature line to your business. 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. Part of “expertise” is knowledge, and part is the ability to publicize the fact that you DO know what you’re talking about! Top 10 Reasons Customers are Lost Salesperson on phone Store inconvenient Store dirty or smelled bad Store didn’t have what customer wanted Salesperson lacked product knowledge Waiting lines too long Didn’t have advertised goods in stock Felt “ignored” Salespeople “pushy” No one at cash wrap when ready to pay There are other reasons for disgruntled customers, but make sure your store remedies all ten of these.
