Ideally, your brand name, trademark, and brand positioning statement will work together to give people an idea of who you are, what you do, and why you’re the best in your industry at doing it. However, these three things aren’t exactly the same. Here’s what each one does, how it differs from the others, and why you should have all three to help grow your business.
1. A brand name tells you who made it
A brand name is the name of the company that produced the good or service. It’s also what you call it when you’re talking about it.
A good brand name helps people to identify what it stands for, who made it, and how they should feel about that product.
Say, for example, I asked you if you wanted to buy this adidas shirt. If I say I love this brand, I’m talking about how much I like adidas as a company.
2. A trademark identifies ownership
A trademark is a word, phrase or symbol that identifies the source of goods or services. For example, Adidas is the trademark for athletic footwear manufactured by the Adidas corporation.
A trademark can also be a service mark which identifies the source of services. While trademarks are created in order to protect your brand name (or product) from being copied by others, service marks identify the provider of those services.
3. A positioning statement tells you what it does
A brand positioning statement is the first thing you should create for your brand. It’s what sets you apart from other brands in your industry. Your positioning statement should be concise and easy to understand.
– A brand positioning statement for Adidas might read: Adidas is committed to innovation, excellence, and individuality.
– Nike’s positioning could be: Nike challenges us to always do better in our sports, to be better in life, and in every area of our lives.
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