What is a brand?
The dictionary defines it as follows: A distinguishing
symbol, mark, logo, name, word, sentence, or a
combination of these items that companies use to
distinguish their product from others in the market.
Further, it goes on to say once a brand has created
positive sentiment among its target audience, the
business is said to have built "brand equity."
Some examples of businesses with brand equity are
Microsoft and Coca-Cola.
So, then, what is a commodity?
According to the dictionary it's any bulk good
traded on an exchange or in the cash market. If
it's a product or service it means it's not
distinguishable from any other product or service
in its category.
Commodities are usually bought and sold based on
price. Meaning if you've got the lowest price you
get the sale and if you don't, you don't.
So let me ask you a question ... Are you and your
business a brand or a commodity?
Take my quick Brand Quiz to find out.
If you answer yes to these 5 questions, odds are
you've got a brand.
(1) There is something unique about you or the
product or service you offer.
(2) Your marketing focuses on this uniqueness.
(3) You're known among your ideal clients for
(4) All your marketing supports this uniqueness
and has a definitive look and feel so it's easily
recognizable as yours.
(5) You see yourself as a leader and the last
thing you want to do is follow the crowd when
it comes to marketing.
If you answer yes to these 5 questions, you and
your business likely fall into the commodity bucket.
(1) You know you're good at what you do but you
haven't identified or created a unique attribute
to set you apart from others in your field.
(2) You tend to market yourself using the same
language and style as others in your industry.
(3) Your marketing materials are a bit of hodge-
podge of looks, colors and personalities.
(4) You've had a tough time crafting a compelling
(5) You find in competitive situations you only
get the sale if your price is the lowest.
If you answered "yes" to the first 5 questions of
the Brand Quiz, congratulations! You know it's
important to set yourself apart with a clearly
If you found yourself answering yes to more of
the commodity questions than the brand questions,
all is not lost. As they say, the first step toward
change is recognizing the need to change.
You now know you've got to create a brand.
Yes, even if you're just a solo-professional and
you don't have a big business or a lot of products.
Because if you're a coach or a consultant, you've
got to give prospective clients a reason to hire you
over all the other coaches and consultants out there.
(C) Copyright 2006 Debbie LaChusa
Debbie LaChusa created
The 10stepmarketing System to make marketing your own business as simple as answering 10 questions. Learn more about this unique, step-by-step system and get a free 10-week
Marketing E-Course when you subscribe to the free, weekly 10stepmarketing Ezine at http://www.10stepmarketing.com
Article Source: http://EzineArticles.com/?expert=Debbie_LaChusa