Branding Moment: 8 Basic Ways to Analyze the Power of a Brand Name

By
Services for Real Estate Pros with Napa Consultants

As confirmed chocoholics, we noticed this chocolate selection in the chocolate aisle of our market.  And because we love the branding process, the brand name also caught our attention.  Here are some basic ways we analyze a brand:

 

1. The name is a play on the phrase "alter ego" defined as a person's secondary or alternative personality.  Is it distinctive enough or memorable?

 

2.  Does the name address the market it intends to reach?  It does focus on attracting those who are ecologically minded and prefer organic products, and they are proud of it.  The slogan under the name, "enlightened indulgence" is intended to have the buyer feel good for buying it..

 

3.  Can the name be used on other products if the company were to start another related business?  In designing real estate brands we often think in terms of "exit strategy", when the company or agent decides to sell the business or start another business.

 

4.  Does the brand name have any negative connotations? Based on the definition of alter ego: (the bad side of a person that may come to life at anytime, switching your personality :this is fantasy, though some people may believe they have an alter-ego ), it may be construed as such.

 

5.  Is the name original?  It is important to do a trademark search.

 

6.  Is it a name the marketplace will remember?

 

7.  Will it have word of mouth power, or social media power that will last?

 

8.  And most important is the product delicious to those who are tempted to buy it?

 

When I (A) pointed it out the brand to Ron, he reminded me that dear friends who are also chocoholics had sent us a bar.  I had forgotten, the name and the experience.  Ron remembered the name.   Neither one of us thought that the taste was memorable enough for us to buy again. 

 

Keep in mind that tastes differ.  Perhaps some of you who may have tried this brand will disagree with us. Again, this a basic guideline to analyze a brand name!

 
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Written by Ron & Alexandra Seigel-

 

CAN YOU STATE HOW YOU ARE DIFFERENT AND BETTER THAN YOUR COMPETITION IN LESS THAN 30 SECONDS?

 

ABOUT:  Luxury Real Estate is a high stakes game. Commissions are substantial! We help luxury real estate professionals get to the listing table more often and win listings more frequently.  If you want to be the market leader, the personal or company brand that your target market thinks of first and refers most often, you need an Elevator Statement to accelerate the process.  We can get you there!

Your Elevator Statement is a succinct and persuasive summary of your extraordinary promise of value, your unique selling proposition.  In a time-starved world the attention span of your target market is shrinking.  To instantly convey what sets you apart from the crowd you need to be able to answer EACH ONE of these 3 questions in less than 30 seconds.: 1) What Do You Do?; 2)  How Do You Do It?, and;  3) How Are You Different?.  Can you state how you are different and better than your competition in less than 30 seconds?

Watch the video above to see and hear how we do it. 

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Rainmaker
3,211,489
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Alexandra and Ron - unmemorable experience results in a memorable post.  Certainly tasty in my opinion as far as satisfying results in learning more about your analyzing process.  

Apr 11, 2019 05:51 PM #15
Rainmaker
4,272,927
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Will Hamm I am sure there is a way to make your name work...It is all in the approach and based on the marketplace.  A

Apr 11, 2019 06:01 PM #16
Rainmaker
4,272,927
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Beth Atalay Thank you for making that point regarding the colors.  That is also part of the branding process--color selection is key to attracting the customer also.  A

Apr 11, 2019 06:02 PM #17
Rainmaker
4,272,927
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Michael Jacobs well said, and we have a great time analyzing and tasting chocolate.  It is part of the job description and that includes wine!  A

Apr 11, 2019 06:06 PM #18
Rainmaker
1,136,660
Sheri Sperry - MCNE®
Coldwell Banker Residential Brokerage - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Ron and Alexandra Seigel - I always enjoy reading your branding posts! 

I can tell you that I would probably buy this based on the names, Blackout and Burnt Caramel. The pictures on the package bring it home. Of course, the taste will make the difference if I ever buy it again. 

As for Alter Eco - That name can transfer to any other product that is green. I did a google search and Alter Eco comes up for an Interior Design and a Painting company. 

Apr 11, 2019 06:07 PM #19
Ambassador
3,745,184
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Ron and Alexandra- I loved reading how you analyze a brand name!!! Personally I probably would have passed on these unless someone had recommended them. I'm a visual person so the colors and packaging wouldn't have worked for me. 

Apr 11, 2019 06:56 PM #20
Rainmaker
2,800,708
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Alexandra.

Just looking at the package, I would have passed it by.  Who would want burnt caramel anyway?

Apr 12, 2019 12:57 AM #21
Ambassador
3,745,184
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

                                         

                                            Thank you, Ron and Alexandra. 

Apr 13, 2019 06:55 PM #22
Rainmaker
4,829,640
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Ron and Alexandra Seigel (A) good guideline in analyzing a brand name.... the team name is branded in my town.... people I do not know do know the name and it's connection to real estate....

Apr 14, 2019 04:37 AM #23
Rainmaker
3,751,069
Dorie Dillard CRS GRI ABR
Coldwell Banker United Realtors® ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Ron and Alexandra Seigel ,

I'm so glad that Kathy Streib featured your post in her "Ah-ha" moments for the week. Definitely deserves a gold star!! It's fascinating how you analyze a brand name..what powerful guidelines. You are are the branding gurus! I probably wouldn't have purchase this product as the packaging just didn't attract me to their product.

Apr 14, 2019 05:49 AM #24
Rainmaker
1,511,608
Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Geneva Financial, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Ron and Alexandra Seigel Based on your points made, it all makes perfect sense, and thank you also for convincing me to not succumb to the marketing by buying one of these choco delights!

Apr 14, 2019 08:33 AM #25
Rainmaker
3,028,863
Kristin Johnston - REALTOR®
RE/MAX Realty Center - Waukesha, WI
Giving Back With Each Home Sold!

I can see why Kathy chose to highlight your post this week!  Great job!

Apr 15, 2019 06:29 AM #26
Rainmaker
1,386,013
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Those are interesting questions to ask when analyzing a brand name - and it was also interesting that you didn't remember seeing that product previously. So the answer to #6 regarding this product is "probably not!"

Apr 15, 2019 07:03 AM #27
Rainmaker
737,216
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Interesting process, I also think that we are all different and different brands appeal to different people in different ways. Which is why different brands attract different buyers in the first place.

Apr 15, 2019 10:09 AM #28
Rainmaker
4,272,927
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Kat Palmiotti We are all different, and thank goodness that Ron remembered that we had tried it, and it was so/so/  A

Apr 15, 2019 04:07 PM #29
Rainmaker
4,272,927
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Kathy Streib like you I am drawn to packaging also, except when it comes to chocolate..and you are right, this package is a bit drab.  A

Apr 15, 2019 04:08 PM #30
Rainmaker
4,272,927
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Nick Vandekar, 610-203-4543 and perfection occurs when the right brand meets the perfect person.  That is the result of great branding. A

Apr 15, 2019 04:10 PM #31
Rainmaker
4,272,927
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Dorie Dillard CRS GRI ABR when it comes to chocolate, I am willing to try regardless of the package.  LOL A

Apr 15, 2019 04:11 PM #32
Rainmaker
660,250
Laura Filip
Laura Filip Broker , Opening doors for All Seasons of Life - Whitesboro, TX
What can we do for you today?

Ron and Alexandra Seigel with your video are you trying to help agents gain market share or are you saying you have the market share to get the higher priced properties sold? 

It comes across that you are seeking to help agents but then, on the other hand, you may be saying something different. 

May 10, 2019 11:17 AM #33
Rainmaker
4,272,927
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Laura Filip we are talking increase market share.  A

May 11, 2019 07:07 AM #34
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