Personal branding
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The writer has to be very concise when he compose this papers as the complain with most of my papers has been that the are not concise, and also the writer has to focus on the main points and elaborate on them clearly using concrete examples to support the facts. In this paper, they are four main points to discuss , the writer must clearly discuss them and use examples to support the facts.
Personal Branding
The concept of branding is often applied to large corporations such as Pepsi-Cola, Nike, Starbucks, or Toyota. Brands communicate powerful associations to the external stakeholders and hence organizations spend millions of dollars enhancing the equity of their brands.
Some individuals take the idea of branding a step further, extending it to people as well. Consider Tiger Woods, Martha Stewart, or Emeril as prime examples of this personal branding philosophy. Tom Peters, a famous management guru, wrote a seminal article called “The Brand Called You” (Peters, 1997) urging individual professionals to think of themselves as brands and to stand out in the competitive marketplace by differentiating themselves.
The key to long-run success, Peters suggested, is to brand oneself effectively. Companies like Estee Lauder offer an in-house personal branding course. On the other hand, others believe that most individuals are not equipped to become brands because they lack the necessary qualities.
After reviewing the resources below, respond in 2 pages word documents minimum to the following:
• Why is branding important to an organization?
• Should the personal brand concept become a part of the DNA of 21st century professionals? If so, what steps must a person work through to develop an effective personal brand? If not, what are your reasons for thinking so?
• Compare how the process of branding an individual would be similar to branding a product. How would it differ?
• Defend your answer with specific examples
Resources:
Course Text
• Marketing Management
o Chapter 9, “Creating Brand Equity”
This chapter introduces the topic of strategic brand management and how it is used to build, measure, and manage brands to maximize their value.
Chapter 10, “Crafting the Brand Positioning”
This chapter summarizes how companies can effectively position a brand to best reach the target market by using brand differentiation and constant revisions to stay current.
• Articles
• Burnett, J., & Hutton, R. (2007). New consumers need new brands. Journal of Product & Brand Management, 16(5), 342–347. Retrieved from ProQuest Central database.
In this article, the authors propose that there are a considerable number of research studies on branding for products, but that very little exists for the process of branding services. They present a conceptual overview of how this type of branding can be developed.
• Cayla, J., & Arnould, E. (2008). A cultural approach to branding in the global marketplace. Journal of International Marketing, 16(4), 86–112. Retrieved from Business Source Premier database.
This paper outlines some of the challenges that future market managers will face in balancing a global, ethnocentric branding approach with the cultural, historical, polycentric, and symbolic significance of a brand.
Peters, T. (1997). The brand called you. Fast Company, 10. Retrieved from
http://www.fastcompany.com/28905/brand-called-you
One of the new focuses of branding that businesses need to understand is that of personal branding, and the author of this paper introduces this concept.
SAMPLE ANSWER
Personal Branding
Personal branding is a recent invention whereas the trend of people labeling themselves based on status and character is as old as individual relations. One’s personal brand is that dominant, vivid, positive thought that comes to the brain whenever one is thought of, such as the principles, abilities, and dealings that others relate one with. It is designed for the reason of influencing how others perceive one, and turning that view into prospect. For effective personal branding, one’s personal brand should induce the perception that one is different, superior and authentic relative to others already in the market (Burnett & Hutton, 2007). This implies that personal branding is a promise to the customers on what they should expect, for example, it’s an assurance that makes the buyer trust, “By buying this, I will be getting that.” This paper will, with the use of examples, explain the importance of branding, justify why personal branding should become an essential item of the DNA of the 21st century and finally compare and contrast personal branding and product branding.
Personal branding is of much benefit in marketing management. It works for all regardless of circumstances and conditions since all businesses are based on associations. Some of the benefits are that it creates more right kind of clients, it increases earning ability, ensures consistent business flow. It also draws many beneficial people that can benefit an individual, for example, Secretary of State Colin Powell’s straightforward and decent, and leadership won many in 1996. It enables one to get “Top-of-mind” class (Redsang, Peter, & Sanfranc, 2012). Personal branding increases credibility, creates opportunity for one to exercise leadership role, such as Federal Reserve Chairman Alan Greenspan could sustain up Wall Street with very few well-chosen terms. It gets one to achieve desired goals by enhancing prestige since it adds financial value to an individual (Burnett & Hutton, 2007). Additionally, it brings greater recognition of one while within his associates with a trend. These suggest that personal branding is important.
However, there are steps that must be considered during personal branding. These include transforming individual reflection into a personal brand that creates business prospect by taking an active control of the process and cutting and polishing ones brand so that everyone who gets in touch with it forms a similar fundamental set of expressions in their mind when they hear your name (Keller, 1993). Building a brand requires understanding, endurance and perseverance, failure of which results into loses. For example, some Internet firms misused millions on Super Bowl as they thought branding take place overnight (Margaret, 2002). Generally, brands take time to expand, for example, Oprah Winfrey spent time performing, carrying out talk shows and laboring to aid women before becoming universally-famous (Peters & Jeremie, 2027). Secondly, brands undergo organic growth as the best brands increase at the grassroots level since it is enhanced by strong communication, a sense of commitment. And finally, brands are not rational and demand consistency and clarity. For example, in 2001, K-Mart filed for insolvency in a budget that left buyers and sellers in upset state (Keller, 1993). Another aspect of personal branding is the fact that it is already element of individual interaction and is everywhere. Personal branding is in use by celebrities such as Stephen Covey, Meg Ryan, Charles Schwab and Joe Montana, as they try to turn their names into industries.
At the moment, judgments can be made about people with only little information at hand. For example by meeting casually meeting someone, you may get to know certain information about his education, his manners and characters. This is because his individual image has been encountered, as revealed by the DNA of his individual manner (Margaret, 2002). Therefore, personal branding is an organic and natural part of human culture, though the difference today is that we have learnt how to detect how others perceive us (Cayla & Arnould, 2008). This therefore necessitates personal brand concept to become a core element of the DNA of 21st century professionals.
In conclusion, following the importance and illustrations hinted on above, personal branding concept should become part of the DNA of the 21st century professionals. Product branding is in most aspects similar to personal branding, however, while the latter is a natural aspect of human beings, the former is not natural as it has to be done physically.
References
Keller, K. L. (1993). Conceptualizing, measuring and managing customer-based brand equity. Journal of Marketing 57(1), 1-22.
Margaret, C. C. (2002). Building brand equity. International journal of Medical Marketing Journal, 2(3), 1-16.
Burnett, J. & Hutton, R. (2007). New consumers need new brands. Journal of Product and Brand Management, 16(5), 342-347.
Cayla, J. & Arnould, E. (2008). A cultural approach to branding in the global marketplace. Journal of International Marketing, 16(4), 86-112.
Peters, T. & Jeremie, K. (2027). The brand called you. Fast company. International Journal of Medical Marketing, 3(1), 234-239.
Redsang, T, Peter, J. & Sanfranc, K. (2012). Impact of personal brand in the world market. Journal of International Marketing, 45(4), 23-87.
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