DIFFERENTIATING THROUGH BRANDING WILL SAVE MORE THAN IT COSTS There is a direct but inverse relationship between the extent to which a business is effectively differentiated and the required investment in marketing and communication. Further, research has highlighted again and again the effective differentiation is important not just to drive sales but also for managing […]

DIFFERENTIATING THROUGH BRANDING WILL SAVE MORE THAN IT COSTS There is a direct but inverse relationship between the extent to which a business is effectively differentiated and the required investment in marketing and communication. Further, research has highlighted again and again the effective differentiation is important not just to drive sales but also for managing expenditure. It has long been argued that effective differentiation through effective branding helps to make a product or service more appealing to a target market. Certainly it can add significant value to a product or service. In this way differentiation can: Drive sales through engagement. Drive margins through the perception of value. Drive repeat business and referral. Equally however establishing a competitive advantage (point of difference) can help drive costs down by: Making communication less necessary – as per Tesla or Zara. Providing a more tangible message for communication. Increasing the likelihood of relationships. Tesla…