Disadvantages of Having Your Own Brand
Posted by jason on March 22nd, 2020
Having your own brand is a perk. You are considered as a successful business person who has struggled a lot for the status and level that you are today. Brand is the identity of a company for its products and services as well. Branding is done in different ways, you can do this by doing different market techniques; advertising on TV and through broachers, packing with illustrative images and making different business cards for your customers. Branding has become an important marketing technique for even new kinds of companies. Reading all this seems nice but there are different disadvantages of having your own brand. We have summed up different disadvantages of owning a brand and we have done this by interviewing different brand owners who took on the services of corporate gifts suppliers in Dubai.
And the first disadvantage is continuous competition. It is estimated that each day in a single small city, 10 new companies get registered and since creativity is the mother of all successes, people are becoming more creative with each passing day. And this becomes a tough thing for the existing brands. For example, you have a brand of clothes and you are doing great and after a few years, you see a company that has recently launched and it is picking up the market at a good speed. Although, people are still buying your clothes with the same intensity still you will have your insecurities and since no one has seen the future, you may not know what might happen next.
The second disadvantage is a continuous change in design. We will consider the above example to understand this point. Your clothing design and style are of vintage theme and if you keep on designing the same theme, people will get bored and they will look for another brand. So, you have to keep adding new things and styles in your design so that people don’t get bored and your brand stays the talk of the town.
To do this, you have to hire different designers because your current designer can run out of ideas at some stage or level. And hiring other designers can be very expensive because will be boosting your company. The third advantage is associated with the second disadvantage and that is maintaining your super side in the market and that is done by continuous marketing and that takes a lot of investment. Look here for more information.
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About the Authorjason
Joined: September 12th, 2019
Articles Posted: 8
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