Brand in business

Brand and image

The brand and image of a business are one of the important criteria for success. Strong brands can generate customer trust, which is particularly important in business today. While in e-commerce where there are often concerns over privacy and security.

There are several branding options. You could use an existing brand name, create a new internet brand name or co-brand with another business.

Using existing brand names

• Using an existing brand name can make sense if the brand is well known and has a strong reputation. However, you risk jeopardising your brand's good name if your new venture is not successful.
• For example, the Air Asia company are started by using other brand name. Tony Fernandes which is the founder of Air Asia had take over other business company and open an airline company. He dare to take the risk and pay all the debt of the late owner of this airline company. By then, he managed to rise up the Air Asia name and company by using business strategy which is everything is operating in low cost as well as the ticket price of the airline.

Creating a new brand

If you want to create a new business brand then a good name is extremely important. Some factors to consider when selecting a new brand name are that it should:

• suggest something about the product
• be short and memorable
• be easy to spell
• translate well into other languages
• have an available domain name

Co-branding

• Co-branding occurs when two businesses put their brand name on the same product. This practice is quite common on the internet and has proved to be a good way to build brand recognition. This also quite common in business today with a lot of company doing partnership or co-branding to save their brand and company in very tight competition nowadays due to globalization.
•  For example oil company which is Esso and Mobil are putting their name as one single brand which is Esso Mobil in order to compete with other oil company brand name.