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A
Brand by Any Other Name
Coca-Cola, Nike and Sony are all household names.
But are brands like these popular and well-known
because they are the best Brands around or could it
be because they have spent gazillions of dollars
over the years pushing their Brand identity onto the
public in all conceivable forms of advertising
media? Is Coca-Cola or Pepsi the only type of soda
people drink? Are there other shoes that people
purchase other than Nike, Reebok and Adidas? Is
every piece of electronics in your home made by
Sony?
As a retailer deciding what product lines to carry
in your business you might be thinking to yourself
“I only want to carry Name Brand items in my store.
Quality counts!”
And you would be right quality does count. The
mistake new sellers often make is thinking that if
they personally do not recognize a Brand it must be
a junk product and this is FAR from the true.
Two things to keep in mind about Brands:
1.You don't recognize a Brand, but thousands of
other people do.
The majority of new retailers are only familiar
with Brands that they see in the media. The fact is,
though, there are quality Brands that are not
heavily advertised on television and on billboards,
“Off Brands” that you may not personally recognize
but there are lots of people who do and are looking
for those exact Brands.
2. Lesser known Brands do not always mean lesser
quality products.
In most cases it can mean less cost for you as a
retailer. As a consumer, when you buy widely known
Name Brands you are paying more because it bares
that Brand Name. In many cases you can buy the same
quality product from a lesser known Brand and pay
less (sometimes it's even made by the same
manufacturers who make the popular Name
Brand!)...and there are frugal consumers who know
this.
The next time you go shopping at a big retail store
look at the brands they carry and you will notice
that even they carry Off Brands you don’t recognize.
There are Brands of products being carried that you
don’t see commercials for on TV but yet they still
stock their shelves with them. Why?—because they
sell!
As a new retailer, if you limit your product choices
to only Brand’s you know then you greatly reduce the
amount of product choices you could be selling and
you bypass wonderful niches that can make you a lot
of money.
So keep an open mind during your research and know
that…A Brand by any other name can SELL just as
sweet.
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