Brand names have become very powerful in our society. People are constantly looking for the best brand name products, or the latest brand name product.
When a brand becomes synonymous with a product itself, that is a very powerful position for the company. When this happens, people are always looking for their next fix of the product that the brand produces.
For example, when someone thinks about coffee, they think about Starbucks coffee. No one is really interested in any other coffee unless it is Starbucks coffee. It has become so popular and famous that it has replaced the word ‘coffee’ for some people.
Another example is Apple phones. When someone says they want a new phone, they usually want an Apple phone. They are known for being top quality and having top quality features, so people flock to them.
This comes with both positives and negatives. Negatives would be that if there was no more Apple phones, people would be very upset and angry because they are so invested in the brand itself.
Examples of famous brands
A famous brand can make or break a business. In fact, some businesses solely rely on brand recognition for their success. When someone sees the logo or hears the name, they know what to expect.
Some of the most famous brands in the world include Apple, Google, Amazon, Samsung, and Mercedes-Benz. Each of these companies has spent a considerable amount of time and money building their brand.
How have they done this? By implementing strategies that promote their brand name and ensure quality products and services. Let’s take a closer look at some of these strategies that can help your business grow.
Build Trust With Customers: One of the biggest challenges for new businesses is building trust with customers. People are reluctant to purchase from an unknown source because they fear being scammed or receiving poor quality products or services.
One way to build trust is by offering samples or doing trial runs before purchasing your product or service. This way, customers know that they are getting what they pay for and that it will meet their expectations.
What happens when a brand becomes synonymous with its product?
When a brand becomes synonymous with its product, people start to believe that that brand makes the best product.
People may think that any product of that brand is the best even if that is not true. They may believe that no other brand can make a better product than their brand can.
For example, if many people believe that Apple makes the best smartphones, then people may not want to try a different smartphone because they think it will not be as good.
They may also decide to buy an Apple smartphone simply because they want the latest and greatest and they trust that it will be good. This is something we see with tech products often.
When someone wants to get into the smartphone game, they tend to get rid of their old device and purchase a new iPhone because they trust the quality and want the name.
Does this happen often?
Not really. Brand names becoming synonymous with the product itself is a pretty rare phenomenon. It happens sometimes with food or beverage products, like when people call any soda a Coke, or when KFC becomes shorthand for chicken.
Sometimes it happens with financial services companies, like when People! Magazine quoted Fidelity Investments as saying that millennials are investing in Bitcoin because they think it’s the next Apple.
In both of these cases, the brand name became so well-known that it became synonymous with the product itself. No one says they are buying a Coke at Walgreens or 7-Eleven, they say they are buying a Coca-Cola. No one says they are eating chicken, they say they are eating KFC.
However, there are some factors that play into whether or not this happens.
How can I build a brand that people will recognize?
Building a brand is not an easy task, but it can be rewarding. Branding is about creating a name for yourself and your business that people will recognize and associate with quality.
In this age of connection, it’s easier than ever to start developing your brand. With social media platforms like Twitter, Instagram, and Facebook, you can start exposing your work to the world.
By posting quality content that relates to your business or industry, you will start to gain followers and viewers. This will help spread the word about who you are and what you do.
It takes time and effort to create a brand that people recognize and trust, but it is well worth it.
Should I worry about my brand becoming synonymous with my product?
No, you should not worry about your brand becoming synonymous with your product. As mentioned before, brands take a long time to develop, and you are just starting out!
If someone tried to use your brand name as a product name, then you would have to take legal action against them. This is because a trademarked brand name is protected by the law.
However, the real question is: Should you try to make your brand name synonymous with your product?
As mentioned before, this takes a long time and lots of hard work. If you are just starting out and want to build your business, then I would not focus on this yet.
What are the benefits of having a well-known brand?
Well-known brands enjoy benefits like increased sales, market share dominance, and higher return on investments.
Sales increase due to product recognition- when people recognize a brand, they feel confident in purchasing their products.
Market share dominance means that people will buy their products solely based on the brand, not because of quality or cost.
Return on investment means that investing in marketing and advertising is worth it because people will recognize the brand and spend money on their products.
Having a well-known brand can be very tricky, however. If the brand starts to decline in quality or value, people may stay loyal for a while but then eventually stop buying their products. This can lead to huge drops in revenue.
What are the drawbacks of having a well-known brand?
Well-known brands can put a significant amount of pressure on a company to maintain the quality of its products. If a brand becomes synonymous with a product, like Toyota with cars or Kleenex with tissues, people may expect every product they buy to be of the same high quality as the original item they bought.
If a copycat product is made at a lower quality, people may reject it because it does not meet their expectations. This can lead to financial losses for the company and possibly job losses for workers.
Also, if the company stops producing their products for any length of time, there could be an even greater loss in revenue due to lost trust in the brand. Keeping quality high while transitioning new products or services can be difficult when dealing with a well-known brand.
Can I protect my brand?
You can protect your brand by filing a trademark with the USPTO. Filing a trademark costs around $200 and takes around 1-2 months to complete.
Once registered, you can use the ® symbol next to your brand to let others know that it is officially registered. This can help prevent brand piracy in the future as well!
Another way to protect your brand is by keeping it a secret. The less people that know your brand, the fewer chances someone else has to use it on their own business or product. Keep an eye out for potential trespassers, too.
If someone has already taken up your brand name, there is not much you can do unless you have proof that you owned the name first. You could try contacting them and offering to buy it from them, but that may not work.
