You’re likely to come across some typical branding misconceptions early on in the process of developing your brand identity. Unfortunately, far too many business owners believe these urban legends, which may be detrimental to their firm in the long term.
Find a branding company like branding Malaysia to help you brand your company. You’ll see the living proof for yourself when your business grows by partnering up with them.
Before that, the following are three significant branding misconceptions that have been debunked:
“Branding is only essential while I’m expanding.”
Don’t undervalue your company’s most valuable asset. Branding may account for anything from 30% to almost 50% of a company’s revenue. This is because well-executed branding transforms your product or service into something unique and unrivalled: the value you provide to your target market.
To put it another way, branding is not only important but also necessary at every step of your company. Your brand must be relevant in order to capture anyone’s attention. Just because you’ve established a brand doesn’t guarantee people will flock to you. It ought to convey your value and solution. Consumers will form their own perceptions of your business if you merely go out into the world with a passionate concept and no investment in your brand.
“I can’t afford that!”
Branding is an investment, not a cost. It’s a financial asset purchase. It has the potential to be your most valuable asset, even if no one agrees on how to value it. Consumer awareness, related traits, and loyalty are all part of brand equity. Although intangible features are difficult to evaluate, this does not mean you cannot or should not invest in this important asset. The easiest approach to deal with this asset’s intangible nature is to seize your tale and create it.
This begs the question: how much should you set aside for this investment? Budget 12 – 15 percent or more of an initial expenditure on branding, according to our rule of thumb. This money may be used to hire a branding strategist, graphic and web designers, a copywriter, a marketing expert, a social media specialist, and other relevant professionals.
“Branding is too difficult for my company.”
Surprisingly, some individuals feel that branding makes things more complex, while in truth, not investing in branding makes things more complicated.
Invest in your brand strategy, regardless of how “basic” you feel your company is. Determine the plot of your narrative as well as make it easy to understand, consistent, and repeatable. Making future decisions based on a set of branding standards is easier than rehashing your narrative every time you start a new advertising campaign or email funnel.…
For a long time, international civil litigation and international commercial arbitration have been widely accepted as the legal approaches to resolve international civil and commercial disputes. In today’s world, the rapid development of international commercial arbitration is an indisputable fact. Institutional arbitration and litigation seem to be similar, but compared with litigation, people or enterprises are more inclined to choose arbitration to solve international commercial disputes, which can be seen that arbitration has certain advantages here.
First, the autonomy of arbitration. Arbitration is fully based on the autonomy of the parties. The parties may play a dominant role in the arbitration process and exert the greatest influence on dispute resolution. For example, the selection of arbitration institutions, the appointment of arbitrators, the determination of arbitration language and so on. This is very difficult to achieve in litigation.
Second, the professionalism of arbitration. International civil and commercial disputes often involve more complex law, economic and trade issues and technical issues. Unlike judges, arbitrators are not a relatively fixed group. The parties can appoint experts from all walks of life as arbitrators to adjudicate the case, which has obvious advantages in ascertaining the facts of the case, which is conducive to a fair and reasonable settlement of the dispute.
Third, the confidentiality of arbitration. The principle of arbitration is not to hear and adjudicate the case in public, while the principle of litigation is to hear in public, a few of which are not heard in public but the judgment is still open to the public. Therefore, this characteristic of arbitration is conducive to the parties to protect their business secrets, but also conducive to the parties to peacefully resolve the dispute in a small scope, leaving the possibility for the next cooperation.
Fourth, the certainty of arbitration jurisdiction. The trial of an international case often involves a conflict of jurisdiction. Therefore, if an enterprise adds an arbitration clause or concludes an arbitration agreement in the cooperation contract, it can better solve this problem, eliminate the court’s jurisdiction and establish the arbitration jurisdiction, so as to ensure that once the dispute occurs, it will not face the conflict of jurisdiction.
Fifth, the cost of arbitration and the issue of settlement. Low cost and speed are often cited as advantages of arbitration, but these are relative because different countries have different litigation systems. As for the speed of closing a case, generally speaking, arbitration only needs one trial, while litigation has two, three or final trials, which take a longer time to close a case. It may also be affected by other interfering factors.
The choice of arbitration should be rational, should take full account of the characteristics of arbitration, and seek the good and avoid the bad. Once you choose arbitration to resolve a dispute, you should cooperate with the arbitrator in good faith.…