BRANDING
Module 2
If there is a place you can get only television and a place you can equally get that television plus many other things like clothes, shoes, fruits etc. Where will you go to, if actually you wanted to buy Television set? You will prefer going to the shop with television only knowing too well you will get the product and believing it will be of greater quality and many will choose to remember the television shop, why? Brand contraction principles.
The same way you will remember to move to street where there are more banks anytime you want to make a transaction. We are still talking about Brand Contraction, maybe here multi-Brand contraction.
Ability to focus on one product will give your brand a unique and a better name. Focus is one important attributes of all good brands. Find a way to stick to that particular thing that works or you feel will work for you and work it out. Specialize in one thing... Build a niche and focus. You can't have an African restaurant while I still find Chinese meal in there.... Avoid any element of distraction.
Brand contraction can also be achieved greatly if only you can kill greed, envy and being confused. You plan for a phone accessories and you know in and out about phone accessories but because your friend is making gain in shoe selling, you expanded your business to accommodate shoe business, this is distraction! Phone accessories with shoe business? Smiles.
Let us see the Venn diagram
It's totally a disjoint set.
Focus will make you build a reputable and respected brand.
Focus works better with business in which it's method is "narrow" and "simple".
Focus will allow you to control the market, play quasi-wholeseller part.
Focus will make you to build identity!
Contract your brand!