You Can Do It :. Thomas Greenbaum

name, but most large and small companies find the logo to be a good way to reinforce the name and to communicate a message about the company. The important thing is that the logo work in conjunction with the name of the brand or company rather than be the dominant element.

      * Characteristics of a Good Logo - The following are some characteristics of a good logo:

      -Visually appealing

      -Works synergistically with the name

      -Easy to remember

      -Clearly communicates the message intended

      -Easily reproduced on the various external communications media anticipated to be used

      -Works equally well in color and black and white printing

      -Does not include cursive/script. This is because most people find that the visibility and readability of cursive is not nearly as good as with stand type fonts.

      * How to Develop an Effective Logo - There are several options for developing a logo, each of which as advantages and disadvantages.

      -Use of an independent designer or design company. In the United States, there are thousands of people who are graphic designers, many of whom are very talented. You can get excellent logos from these organizations/individuals, but they tend to be quite expensive relative to the other options available. Also, when you work with designers, you normally to get the inputs from only one person.

      -Single-Input On-Line Companies. There are dozens if not hundreds of people who advertise on line to develop logos, often for extremely low prices (i.e., under $25-$50). As with the above, they can be effective IF you are lucky enough to get the right person who can develop a logo that meets your expectations.

      -Crowd Sourcing Organizations. There also are some organizations that have a network of designers that develop websites, brochures, pamphlets and other similar materials. The organization I recommend very frequently is DesignCrowd.com. I have had over 100 clients use this organization and have never found one to be disappointed. In fact, the cover of this book was developed by that company. As of this writing, the cost of developing a logo was $250, which will provide you with 50-125 different logos from designers all over the world. My experience is the most difficult part of the process is choosing the one you like, as so many are excellent.

      Business Cards & Stationery - A significant element of brand identification is the development of both business cards stationery-related items needed (letter heads, invoices, bills, etc.) to operate a company. There are a few principles that are appropriate when considering the development of this part of a brand identification program. Specifically:

      * The look and feel the business cards and stationery items must be consistent with the look and feel of the name and logo. If a logo is developed for the company it should appear on the business cards and stationery as well.

      * The ease of reading the most relevant information. This is a problem for some organizations, normally service companies, who believe in loading business cards with much more information than is needed. If the card is too crowded, then it will discourage people from reading it and will make it more difficult for the recipient of the card to quickly get the information they need.

      * Be cautious on the use of color on business cards. It can make them much less readable than the typical black and white card.

      * Do not produce multiple page business cards. In the attempt to communicate a great deal of information sometimes an organization will have a four-sided card which folds to be the size of a traditional business card. Most people do not look favorably on this type of card, as it will not fit easily in wallets, cardholders, Rolodex files, etc.

      * Enabling the recipient of the card to be able to be able to write on the back of the card. Some organizations produce business cards on shiny stock that precludes writing on with a normal pen or pencil.

      Signage - The fourth component of a brand identification is signage, which is defined as the public display of your name and logo in advertising or marketing vehicles. For example, the Stop & Shop (supermarkets) name is on stores, shopping carts, in store materials, and on trucks and many different types of advertising vehicles. The principles of developing good signage are:

      * Easy to read in the media presented (i.e., on truck, billboard, end aisle display, etc.)

      * Recognizable as being representative of the organization (i.e., no question that the trucks are delivering products to or from a Stop & Shop store.)

      * Consistent with all the other brand identification elements employed.

      Packaging - For products that come in an external package, it is important that the look and feel of the package is consistent with the rest of the brand identification elements, and the same criteria apply relative to ensuring success with the brand ID. The package design should communicate the brand identity in the same way as does the other items which carry the name and logo.

      SUMMARY – Brand identification is the essence of the equity of any product or service on the market. Your brand ID is your external voice that customers and prospects will identify with well before they have first-hand experience with the actual product or service. Therefore, it is essential to place significant effort against each element of the brand identification program, as it is a permanent part of your marketing program that is difficult, time-consuming and expensive to change. Do it right the first time and it will pay dividends for the life of the venture.

       CHAPTER SIX

       Researching Your Business and Market

      Introduction - One of the most important parts of starting a new business is the research that is done prior to going to market. This is to ensure that you have correctly evaluated the opportunity and have a good sense of both the current business environment you will enter, and what are the keys to success. It is not uncommon for clients to come to SCORE believing they have done research on their project by asking friends or relatives what they think of their idea. As a result of this “research” in most situations they have received glowing responses. This is probably the worst type of “research” that one can do, as friends and family are normally not qualified to evaluate a business idea considering all the important elements, and importantly are unlikely to give an objective response for fear of offending the creator of the new business in the event they feel negative about the idea. One analogy that is very relevant here is to ask you if you ever went to see a new baby and told the parents it was ugly. It is just not something we would do, and the same dynamic operates when asking friends and family for their opinion about a new business idea.

      Research as Business Insurance - The role of research in the process of developing and implementing a new business idea should be considered a form of insurance. The more research you do, the better the chance you have of succeeding. The more you know about your product, your market and your competition, the stronger your own introductory marketing plan will be, and the more prepared you will be to enter the market place. Like insurance, you can have too much research, but there clearly is a basic amount of work that needs to be done before you are ready to move forward with your program.

      The purpose of this chapter is to (a) discuss the market research options available to a small business relative to the marketplace and the product or service being introduced, and (b) to identify a selection of different research techniques that can be employed to fulfill the

      objectives of the market research program.

      Categories of Research - There are essentially three types of research that are necessary during introducing a new product or service.

      * Market Research - This is research intended to understand the environment in which you are competing by addressing at least the following issues:

      -The size and growth trends of the market in which you will be operating. It is important to put this into