II. When Should You Brand?
Because of the competitive nature of business today, nearly all industries can benefit from a branded product. All of the traditionally brand-conscious industries, including fashion, restaurants and consumer goods, are being forced to continue to brand heavily — perhaps even more strategically than they ever have in the past. Financial services, which were one of the last frontiers, are even beginning to see the importance of branding by tagging banking packages and even mutual funds with catchy names. Even industrial markets, where cost is usually more of a loyalty building factor, has seen brand names creep in. For example, Tyvek, a DuPont fiber, improbably one of the best known industrial branded products.
Other industries in which branding is a must include:
• Fast food
• High-tech
• Beverages
• Packaged Goods
• Petroleum
• Entertainment
• Retail
• Auto