What an Eyewear Display Company Can Learn From College
For many people today, attending a traditional four year college after high school was (or is) an important stepping stone to having a successful future. But with over 4,000 college and universities in America alone, how is it possible to choose just one to attend? And maybe an even better question would be, how do all of these institutions manage to stay open? Much like any other businesses, from eyewear display companies to restaurants, it is important to know your brand and know your market. This is something that most successful colleges do every well, and can even teach other businesses to do.
Often colleges and universities are very aware of their reputation. They know if they are ivy-league, state, religiously affiliated, or maybe even an arts focused institution. And from knowing their distinct reputation, they are able to determine who their current and potential students are and will be. This knowledge allows them to accurately and successfully target, enroll, and cater to these students. They understand their market and how they fit into this market.
Similarly, companies can take a page from their book. Let’s take for example a small niche company, such as an eyewear display company. When starting out, such a small specific company might experience trouble launching themselves into the manufacturing market. This is probably because it is too broad of a market to just fling a business into and hope for success. An eyewear display company needs to narrow and define their specific market. In the same way ivy-league colleges could define their market with high SAT scores and GPAs, the eyewear display company could define their market to location and price.
But knowing your market is not enough to guarantee success. Because there is an abundance of companies and colleges that have similar features, it is important to make yourself stand out, or what is unique to your brand. It is not uncommon for colleges to try to connect their students with ‘something bigger’ than just an education or degree. Colleges will brand qualities such as school spirit or tradition to try to connect with their students and differentiate themselves within their market. Theses qualities tell students that they are getting more than just an education from their school, but actually experiencing something bigger.
Connecting to ‘something bigger’ is a technique that businesses can also successfully utilize in their branding position. In the case of the eyewear display company, it is one thing to simply produce an eyewear display. But it is another thing to produce an eyewear display that is produced with 100% recycled materials. If such a company expressed a distinct interest in environmental interests, or the green cause, they would allow their customers connect to these bigger issues while working with the company. It creates a unique brand for customers to identify with and feel good about working with and supporting such a company.
So class, what did we learn today? Simply to know your market, and know your brand. Whether it be for a college or eyewear display company, understanding these two things will give you the power to successfully promote your company.
Source: here By Roger Dooley