Anything can be made into a lucrative industry, provided that a person knows the ways of effective marketing and how to establish a brand. To do so, that person is required to be an authority figure, someone whom others will turn to when they have questions regarding certain, specialized topics. The method in which a person does that is called personal branding.
In this, a manager who is trying to popularize a brand must know various strategies not only in marketing, but in customer relationship management. Most of the time, branding is a task done alone, by a person who is trying to patent or pioneer a certain product. In case the product is just another version of an already widely popular item, the competition for the branding is much heavier, thereby putting more pressure on the management team of the new product.
The concept of branding yourself revolves on self-packaging and self-help management techniques. The major purpose of the strategy is to project an image of the product or the company, and make that image highly recognized by the public. The image has to be associated with something that the entity the business or the individual or the product does. This is also closely related to the concept of impression management. In impression management, the general idea is to evaluate the abilities, strengths, weaknesses, desires and passions of people and the company, in order to fully utilize a brand.
Branding may be done for a company, a product or a person, hence the name. It is used in either of those two situations. First of which is when a company is starting to create a stable foothold. The second situation is when a company is trying to introduce a new product, or trying to create a trademark or a new trend in the market.
The problem that is almost always encountered in branding oneself is that companies go for over exaggeration. It does serve them a lot of good to advertise their products and services for more than they really are. In a way, it attracts potential customers to the new brand gullible potential customers, but customers, nonetheless.
That creates an unfair environment for other brands. Not only that the exaggeration technique is ill advised for companies attempting to promote a brand, but it is considered an immoral way of marketing. If a person goes by a well-defined moral plane, advertising a product or service for more than what it really is, is just plain wrong. In a business perspective, it does come back to haunt the person who did it.
For instance, over exaggerating a product or service will create confusion among customers. Customers will be looking for what the company advertises, but quite the contrary, they will find something entirely different. Needless to say, the customers will hardly be satisfied. They will consider not just the product, but the company, as inferior to others. Not to mention the chance that unsatisfied customers are going to post negative reviews and stop others from making the same decision as they did.
It is not always that the product or the service is inferior to other brands. The problem is that the customers are made to expect more, since they are promised with more. Getting what was promised to them was beyond impossible, as the advertisements were nothing but plain exaggeration. The quality of the real product might not be inferior at all, but compared to what the customers expected of it, because of the lies told in the advertisement, the real product will never be ideal enough.
Lying on marketing strategies is wrong. And it is not just the competitors moral fiber that is the problem, here. The customers will never be satisfied with the real product, and that is what is going to cause trouble for the brand later on. Instead of being able to create a brand built on trust and customer satisfaction, the brand is painted in bad light due to negative and unsatisfactory reviews from the customers.
In marketing a product, a service or a person, it is important to be fully honest. Put simply, there should not be any idle boasts, false pretenses or over exaggerations. The right way to do this is always the best way of popularizing a brand and creating a successful trademark. The obvious proofs can be seen in the most popular brands today. As a matter of fact, one does not have to look any further than the Internet. That is the perfect place to see the vast difference between companies who did personal branding the right way, and those who did it through lies and deceptions.