Business Identity
Business identity describes aspects of your business which dictate how it is perceived by others. These factors include:
- Name
- Logo
- Colours
- Market Positioning
- Mission Statement
- Vision
- Community Involvement
These aspects, when combined, help form a perception of your business as an entity in people's minds. The style, shape and colour of your logo, its positioning and use, your business name, your mission statement, goals and community involvement will all work together to define your business identity. This identity is how people categorise your business before they know any details about your products or services - they will judge you based on look and feel - the impression they get of you from these combined factors.
A clear, focussed identity is crucial to business survival and success. Internally, it forms the basis of the business plan, providing business vision, goals and purpose from which direction and growth strategies will be structured. Externally, it determines which markets you will enter and what area in those markets your business will be positioned in.
Getting the identity right means people immediately associate the business and product with the market segment the business is actually targetting, meaning people have categorised the business prior to knowing details regarding it or its product line. Thus, when they think of something they require and have a price point in mind, if your business matches this perception, prior to any knowledge of your business other than this perception, you will be on the shortlist of providers they seek out.
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