Having been studying marketing for only a few months now, I sometimes still struggle with the idea of branding. Why is branding important? How is it done? Do the consumers even care about brands?
So, when one of my teachers recommended that we read "The 22 Immutable Laws of Branding" by Al Ries and Laura Ries, I immediately went on Amazon and ordered it. I have only read a few chapters so far, but what I can say is that by just reading the first two chapters helped me understand a lot. I now have a clearer idea of what branding should be and what steps are necessary to create a strong brand. So I thought why not write it down and share what I got from it with the rest of the world. Maybe another lost student might find it helpful.
The first chapter is called "The Law of Expansion." Here, the authors explain that "The power of a brand is inversely proportional to its scope". What that means is that a brand with too many products will eventually lose its influence. Putting your name brand on too many products will weaken your brand's image.
Next time, I'll try to explain what I got from the chapter on publicity, and its importance in branding.