If I ask you what is the difference between Coca Cola and Zobo what would be your response? Many of us have tasted Zobo and can testify to how nice it is, but one question is why is it not used in events? When last did you go to a wedding and the tables had Zobo drinks on them? What makes coke different? Simple! Coca Cola has progressed from just a drink into a brand. It has become a name; it has an identity and people can relate with that identity. While Zobo is just a drink, Coke is a brand.

Don’t just be satisfied with building a business, build it into a brand. Brands usually have the privilege of premium pricing and better patronage. Why are Apple products usually expensive? Is it because they have better technology or superior innovation? Not necessarily! It’s in the name and the packaging. What’s the difference between food sold in a ‘normal’ Restaurant and one sold at Transcorp Hilton? Why is the food in Transcorp more expensive?

Is it that Transcorp uses better ingredients? Well, not necessarily true. In fact some of those ordinary restaurants managed by good cooks have better meals than Transcorp. The truth is, in Transcorp you don’t just pay for the food, you also pay for the name. The roadside restaurant can’t dare fix same price as Transcorp, but the day the owner builds a name (brand) like Transcorp, she can. Businesses that are Brands always have the advantage of premium pricing.

I remember going to Transcorp Hilton in Abuja with a Friend. We sat at the Piano Bar in the Hotel, and was asked what we would take. We asked for Coke and was told a bottle goes for N900 naira (just that short bottle of coke). We had no option but to buy. They brought it with Groundnut in a glass bowl. I looked at the bottle and imagined how it is worth N900. The thing is we didn’t just pay for the bottle of coke, but for the name Transcorp.

Recently in October while undergoing an Entrepreneurship training with the Bank of Industry (BOI) in NICON Luxury Hotel Abuja, a friend came to visit me at the venue. We sat at the Hotel Lobby and ordered for Farouz. After taking the drink, I asked for the price and expected it to be between N900 and N1000 but was surprised it was just N500. When the lady with me heard the price she was shocked and said if she knew it was that expensive she wouldn’t have taken it.

I just smiled and told her in Transcorp a bottle of Coke is N900 so Farouz might be N1200. I paid and we left, but that was a lesson of the power of a brand. Transcorp is higher in rating than NICON Luxury so its prices are higher. Brands usually command high price and are always distinct from other players in that industry.

Why is it that one Musician, Consultant, or Comedian commands a higher fee than the other? Is it because they are better? Not necessarily true! It’s about the brand (name). The clients pay not just for their service but for their name (brand). The bigger the brand the larger the fee charged. Don’t play with the issue of branding, whatever you do in your business, ensure you build it into a brand.

100% true...

cant remember the restaurant cause it was during my service year in lagos, was so hungry i walked in ignoring the foreign looks of the restaurant, i sat down there was just one guy sitting, after about 5minute of waiting for the waiter i went over to ask some questions like wheres the person serving and why is there no menu and how much is a plate of rice and chicken.

Their response

waiter is coming sorry.
he will bring the menu along
a plate of rice and chicken is 2500 naira


My response

no wonder here empty.

i looked for mama put saw for 250 thank God, hunger almost made me his b i t c h

how do u turn a product to A brand

Lovely article

Same Xperience I had @ NICON LUXURY HOTEL ABJ. a bottle of Water d smallest one of 50naira on the street was N500

I had no choice than to take it sha

skyhighweb:
cant remember the restaurant cause it was during my service year in lagos, was so hungry i walked in ignoring the foreign looks of the restaurant, i sat down there was just one guy sitting, after about 5minute of waiting for the waiter i went over to ask some questions like wheres the person serving and why is there no menu and how much is a plate of rice and chicken.

Their response

waiter is coming sorry.
he will bring the menu along
a plate of rice and chicken is 2500 naira


My response


no wonder here empty.

i looked for mama put saw for 250 thank God, hunger almost made me his b i t c h

Hahahahahaha. You for wash plate tire that day.

dboss444:
how do u turn a product to A brand

First thing to ask yourself is the actual value the product offers to customers,and then the perceived value - what does the market see as the product's value?

If your product delivers value, you must emphasize on that value - build an identity around that value. That's the beginning of building a brand. The product must have had a name already (be careful in choosing a name for your product). Your product's identity, from the name, to the colour, design, packaging concept, etc, must be consistent.

You can choose from one of the four brand name strategies:

1. Individual brand names: This is the strategy where the identity of a product is different from the company. It is a strategy where a company has a number of products, with each product having its own identity. Example is Proctor and Gamble which doesn’t use the company name on its famous brands – Ariel and Pampers. Each of these products has its own separate, unrelated identity. In fact most people don't know the makers of Ariel Detergent, but they know the product and it's their choice brand for washing.

2. Blanket Family brand name: This is a strategy where the company name is used for all of the company’s products. Example is LG Electronics - LG Phones, LG Television, LG Home Theater System, LG LED TV, etc. This strategy is used when the company has good will attached to the family brand name.

3. Separate Family names: This involves using separate names for the different products by the same company or in the same family. This is mostly suitable when you have different categories of products. This strategy is common with Brewery/drinks Companies. Example is Guinness Nigeria: Malta Guinness, Malta Guinness Low Sugar, Guinness Foreign Extra Stout, Guinness Extra Smooth, etc (I don't take Alcohol so i don't know all the names).

4. Company trade name with individual product names: This is a strategy where you combine the company name with individual product names. This strategy is commonly used when a company wishes to legitimize its product by capitalizing on the reputation it already has. Microsoft is a good example of this with Microsoft Word, MS Excel and MS PowerPoint.

DonaldYusuf:
Hahahahahaha. You for wash plate tire that day.

hahaha i tell u

DonaldYusuf:
Hahahahahaha. You for wash plate tire that day.

hahaha i tell u

Nice pace

Good read

DonaldYusuf:


First thing to ask yourself is the actual value the product offers to customers,and then the perceived value - what does the market see as the product's value?

If your product delivers value, you must emphasize on that value - build an identity around that value. That's the beginning of building a brand. The product must have had a name already (be careful in choosing a name for your product). Your product's identity, from the name, to the colour, design, packaging concept, etc, must be consistent.

You can choose from one of the four brand name strategies:

1. Individual brand names: This is the strategy where the identity of a product is different from the company. It is a strategy where a company has a number of products, with each product having its own identity. Example is Proctor and Gamble which doesn’t use the company name on its famous brands – Ariel and Pampers. Each of these products has its own separate, unrelated identity. In fact most people don't know the makers of Ariel Detergent, but they know the product and it's their choice brand for washing.

2. Blanket Family brand name: This is a strategy where the company name is used for all of the company’s products. Example is LG Electronics - LG Phones, LG Television, LG Home Theater System, LG LED TV, etc. This strategy is used when the company has good will attached to the family brand name.

3. Separate Family names: This involves using separate names for the different products by the same company or in the same family. This is mostly suitable when you have different categories of products. This strategy is common with Brewery/drinks Companies. Example is Guinness Nigeria: Malta Guinness, Malta Guinness Low Sugar, Guinness Foreign Extra Stout, Guinness Extra Smooth, etc (I don't take Alcohol so i don't know all the names).

4. Company trade name with individual product names: This is a strategy where you combine the company name with individual product names. This strategy is commonly used when a company wishes to legitimize its product by capitalizing on the reputation it already has. Microsoft is a good example of this with Microsoft Word, MS Excel and MS PowerPoint.

I sent you a mail

Well written.

Very informative. But it is very neccessary one focuses on the value or the need ones' product or services is satisfying before having or developing a brand name of high repute. Most businesses in nigeria can't stand the test of time, reason been that they don't offer value and quality for their merchandise. So many substandard goods sold at exorbitant prices.The earlier we wake up to these realities and thrive to make amends the better for us.

To be your own master is better than to be under someone. To learn how to produce YOGHURT, FRUIT JUICE,FLAVORED DRINK etc.contact me now 08032326255 there is money in Production

Diet coke for one thousand, five hundred naira only at the pool side bar of Sheraton hotel Abuja.