If I stepped into an electronic shop today and find a TV set branded GOOGLE TV for sale, I would probably buy it without much questioning (ofcourse, after googling to ensure it not a chinese prank).
I would do these simply because I have grown to trust the brand: Google over the years and they have also been able to maintain quite an impressive run.
I have realised that that old saying that “a good name is better than silver and gold” is very valid and potent. The most important thing to ensure longevity of a business is the brand power. If you can build a powerful brand, you are set.
Great brands survive generation after generation.
Coca-Cola has remained relevant since forever, it will not be easy for any other player to operate on Coca-Cola’s turf. Virgin group, another great brand tried it and got burnt.
Perhaps, this is why NOKIA 6, the first Nokia branded smartphone in about 3 years or so sold out within 60 seconds of its first flash sale. Yes, the market is hungry for a Nokia phone! Who would have thought?
Concentrate your forces, build a brand. Then leverage the brand to do other things… perhaps I might be shopping your TV products soon!
Do you have a brand or you are just hustling day-to-day? What do you have a reputation for?
Your brand will outlive you and your children if you do it right. Concentrate, build a brand.