Friday, February 19, 2010

The Three P's of Branding

Branding is another important part of entrepreneurship and marketing. Whether it be branding yourself or your business, branding shapes your marketing strategies. Here is a brief overview of The 3 P's of Branding that I learned from Axle Davids, Founder and CEO of Distility Branding, during a talk organized by Refresh Events a few days ago.

1) Promise - This is the solution you are offering to life's challenges. It involves combining your passion towards solving an unsatisfied need in the marketplace. It is NOT about you.

2) Personality - This shows how you deliver on your promise and stay committed to it. Are you consistent?

3) Position - This is the X factor that makes you unique and remarkable compared to everyone else. You MUST stand out!

The 3P's are may seem quite basic to marketing... but that's exactly why they are fundamental. Branding may seem easy, but it is not as simple as switching ON a light switch... it's an ongoing process. I believe they act as a strategic compass to guide you into creating something amazing as you travel the rough and narrow road to success. In my next post, I will talk about my 3P's for Book Hook, a student book exchange club I created, and how we are starting a movement to change students' ideas about used textbooks.

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