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Entrepreneurship

In the 17th and 18th centuries, the world experienced great
industrial revolution which lead to many innovations in product and
services. Many of the first type of products were merely monopolistic
and basic products developed and sold by a manufacturer to serve a
common need people that people had. Several years later, there was
emerging competition and increasing options for the consumer. The
commercial world became noisy and players in the market needed to create
ways of communicating above the noise through marketing communication
and organization values.
In the 90’s Steve Jobs said Nike was one of the greatest brands in the 03
world. ‘’They don’t talk about their product, they don’t talk about their
competitors. They honor great athletes and honor great athletics and that’s
who they are’’ A brand has to stand for something strong and clear in the
minds of the target audience. Businesses need to be really clear on what
they want them to know about their organization, product and services. I
would call that giving an organization a personality.

Challenge!
Entrepreneurship is often triggered by, necessity, opportunity
adversity or innovation. Whatever the prompt is, a common objective
and challenge every start-up has and faces, is to attract customers
necessary to keep the business afloat and eventually profitable.
A business comes in form of a product or service provided by an
individual or company with an intention of sorting an existing need in
a specific market. These products or services are sold either under a
brand name or are just generic.

What is branding?
Branding is a marketing effort to create a distinctive design or mark
for your business. It’s a personality created for your product or service
and it is the promise you make to your target customers of the value
and experience they should expected from the product. Branding can
take the form of logos, colours, fonts, taglines etc. used to name your
company and the product it provides or represents.
• Trade Kings ‘’Improving Lives’’
• Coca-Cola: “To inspire moments of optimism and uplift.”
• BMW: “The Ultimate Driving Machine”
• Nike: “To bring inspiration and innovation to every athlete in the world.”

Importance
• Branding is important not only because it makes a memorable impression on
consumers but it allows your customers and clients to know what to expect from
your company.
• On average, generic products are cheaper than their brand-name counterparts
though quality may be the same. On average, generic products are cheaper than
their brand-name counterparts. Though the quality may arguably be the same,
brand names or promises adds a certain value to the product either by way of
certification of the brand or indeed perceived goodwill attached to the name given to
the brand
• Helps customers with selecting your product from the clutter of competing products
• Helps owner with product development and extension. We have seen this effectively
used by Trade Kings

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