As mentioned in my earlier post, I have recently joined AdBox as an account manager focused on bringing in new business for my advertising agency. Nevertheless, I have spent the past few weeks meeting various stakeholders in the agency, and am working on a marketing plan for the year 2013.
How many people know about your brand and actually uses your brand? Yes, there are many definitions and gurus out there explaining what is branding all about and how it can help businesses grow.
There are many seminars to attend and books to read for any business owner to understand about branding but still, there are many business owners out there who have little clue on how it can actually translate to business success.
In order to justify how branding actually help businesses to grow and profit, we have derived a simple analogy using a simple graph as follows.
The Y-axis indicates the “know” level of individuals in the market which is mapped according to their knowledge of your brand / product. The X-axis indicates the “use” level of individuals in the market and which is mapped according to the frequency of using your brand / product.