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Ja'nay B, Richmond, VA (2026)

07/01/2024

There are 3 benefits of brand equity:

1. Perceived quality - all things equal (value prop, product, feature), the branded product gives customers a reason to buy. It allows you to extend product range, opportunity for a price premium, and show up as a differentiator in the market.

2. Brand connections - customers and sponsors are crucial for a brand. They build an additional entry to barrier in your market. Brand connections also offer an opportunity to extend the brand. However, an extension needs to fit the target market’s perception of the brand. Associations to the brand (sponsors) and target market (customers) helps reinforce market presence which creates another barrier to entry

3. Brand loyalty - customers that are loyal to your brand spend less time searching for new information to solve their need/want, as a result, they also spend less time in the purchase decision process. They are coming straight to you, EVERY TIME. Which gives you more flexibility with your marketing budget.

06/27/2024

Brands have 3 primary roles:

1. Convey image and info about the product/service
2. Educate the customer about the product/service
3. Reassure the customer in the purchase decision

Remember your business is your brand and your brand is your business!

12/11/2023

In the Holiday spirit !

04/28/2023

3 Positioning Strategies to consider:

- Cost Leadership: targets mass market and attempts to be the lowest cost producer

-Differentiation: targets mass market and tries to maintain unique point(s) of product/service difference perceived as desirable with premium pricing

-Focus: targets a narrowed market and focuses on satisfying the needs of that segment

What is your favorite positioning method?

01/06/2023

Focusing on your steps you know you will need to first identify lead generations. But what is a lead anyway?

A lead is a potential future customer. Usually, a lead is someone who showed interest in your product or service.

All leads do not turn into customers, but every lead does turn into brand awareness. So, lead generation is the act of attracting leads with the hopes of converting qualified leads into customers.

Lead generation planning requires you to decide how much information you need to gather to determine if the person interested is truly a new customer on the horizon. There are multiple ways to generate a lead, here are a few examples to consider:

1. Online generation is an effective way to leverage free and low-cost marketing strategies. Almost everyone is online at some point of the day. You can attract leads by hosting a website, maintaining a blog/vlog or podcast, keeping an active social media account, running online ads, and engaging emails.

2. Events are a great way to get in front of people who are willing to provide you with information. You can host events if it’s within your budget or attend other events. Remember you want to provide clarity around your product or service.

3. Referrals, referrals, referrals! Word of mouth is the best way to convert leads. You can leverage referrals through brand ambassador and customer loyalty programs.

4. Discounts can pique interest, offer a discount to new customers in return for their information such as email address or telephone number.

Read more about creating a marketing plan at www.Janayb.com

01/03/2023

I believe in learning from mistakes. I also believe in failing sometimes too. Most importantly I believe in excelling and striving.

2022 taught me a lot in how to approach my businesses, while also learning to prioritize my health. Sometimes I found myself overwhelmed from taking on so many things and I met a few life changing health scares.

I had to revisit previous obligations and push back more deadlines than I would like to admit.

I also was given grace and opportunities by others. What’s most amazing though, is most of the grace and success I received from within my community. Black people helping others get a chance to walk through the door.

Career wise, I made strides and I see how they will assist me this year. I met great people at a few events. 2022 was a time for GROWTH. 2023 will be a time of ex*****on. I’m ready!

#2023

01/02/2023

In order to create a successful marketing plan, you must rely on your marketing strategy. Your marketing plan will drive your business actions by outlining your budget and resources.

Before developing the plan for the next period, you will need to look at what it is you that you would like to accomplish, how will you accomplish it, and what will it cost. You will need to be realistic with yourself about what your company can and cannot do during the specific period.

Remember, there are free and low-cost marketing options, but you will need to invest in your business if you really want to gain a good share of your market.

If you don’t have a current marketing budget, you are doing yourself a disservice. In fact, you should allocate a certain amount of revenue towards your marketing budget.

Somewhere between 15% to 20% of each sell should go immediately towards marketing. So, if your product/service costs $5, then $1 should go into future marketing expenses. This will allow you to build a consistent marketing budget.

Read more by clicking the link in my bio.

11/30/2022

New product/Service development usually occurs in 8 steps:

1. Idea Generation requires you to search for new opportunities within your market.

2. Idea Screening requires you to narrow down your ideas to the best one(s). This can be done by rating the attributes of the ideas. Create a standard checklist with set ratings to choose the best idea.

3. Concept Testing requires you to get real world insight for your new product/service. Rely on customer insight to improve the product/service and establish a selling point.

4. Marketing Strategy Development requires a thorough analysis of the new product/service which includes your target market, value proposition, positioning strategy, product/service management, marketing goals, sales plan, long term product goals, distribution methods, and profit goals for the next 3 to 5 years.

5. Business & Financial Analysis requires an in-depth look at the financial potential and implications to decide if the new idea satisfies the brand’s objective. It includes market share, competitors’ analysis, pricing strategy, budget, risk assessment, and profit expectations.

6. Product Development turns the idea into a tangible product or a service offering. You should focus on usage testing, packaging, branding, and positioning. In this step you want to see the product from the customer’s eyes as well as from the company view.

7. Test Marketing requires you to offer the product/service to the target market. Feedback is very important when testing the market. There are times when testing the market may not be necessary for instance it’s just a simple line extension, you’re copying a successful competitor’s product/service, or the product/service is very low cost.

8. Commercialization requires implementation of the plan which means you are finally ready to successfully launch!

11/30/2022

New brands as well as established brands must find ways to remain relevant and profitable. For entrepreneurs it is important to continuously launch new products or service offerings as well as improve existing products/services. Launching new products/services requires you to know your customer base and dive into their pain points, needs, and desires. Your job is to figure out where you fit in their lives and add value! To successfully launch a new product, you should commit to a strategic plan. Don’t get lost in the vision because productivity is the key! Put a plan to action and yield real results. New product/Service development usually occurs in 8 steps:

1. Idea Generation requires you to search for new opportunities within your market. Rely on internal sources through brainstorming and external sources such as market research.

2. Idea Screening requires you to narrow down your ideas to the best one(s). This can be done by rating the attributes of the ideas. Create a standard checklist with set ratings to choose the best idea. At minimum, your checklist should include customer needs, idea strengths, idea weaknesses, current market trends, cost, projected ROI, and competitor offerings.

3. Concept Testing requires you to get real world insight for your new product/service. Develop a service blueprint based around your idea, and then introduce this concept to a select number of customers within the market. Rely on customer insight to improve the product/service and establish a selling point.

4. Marketing Strategy Development requires a thorough analysis of the new product/service which includes your target market, value proposition, positioning strategy, product/service management, marketing goals, sales plan, long term product goals, distribution methods, and profit goals for the next 3 to 5 years.

5. Business & Financial Analysis requires an in-depth look at the financial potential and implications to decide if the new idea satisfies the brand’s objective. It includes market share, competitors’ analysis, pricing strategy, budget, risk assessment, and profit expectations. The more detailed the analysis is, the easier it will be to determine if the idea is affordable for your company.

6. Product Development turns the idea into a tangible product or a service offering. This is an important step because during this step you want to get all the kinks out of your offering. You should focus on usage testing, packaging, branding, and positioning. In this step you want to see the product from the customer’s eyes as well as from the company view.

7. Test Marketing requires you to offer the product/service to the target market. Feedback is very important when testing the market. The goal is to test how well the product/service sells by relying on customer behavior to validate the proposed idea before making a full investment. The amount of testing required will vary from product/service to product/service. There are times when testing the market may not be necessary for instance it’s just a simple line extension, you’re copying a successful competitor’s product/service, or the product/service is very low cost.

8. Commercialization requires implementation of the plan which means you are finally ready to successfully launch!

Utilize these 8 steps time and time again to keep your business successful and profitable!

09/16/2022

Services are complexed with many layers, which are not easily identified in the customers perceived value of your brand.

Understanding these challenges will require viewing the service from the employee point of view and the customer point of view.

Management should ask themselves two main questions:
1. “How can my brand provide the best value for my target market?”
2. “How can I improve my employees’ experience, to motivate them to represent our brand in the best manner?”

Common ways to categorize both products and services are by:

1. Processes which depends on who and/or what is being processed, for example:

- People processing
- Mental processing
- Possession processing
- Information processing

2. Degree of contact between customer and company such as:

- High contact
- Low contact

3. SEC classification which identifies the ease or difficulty of customer evaluation activities which are:

- Search goods which can be easily be evaluated prior to consumption
- Experienced goods which can only be evaluated accurately after consumption
- Credence goods which are nearly impossible to evaluate after consumption usually due to a lack of knowledge and/or technical skills leaving customers to rely on trust of the service provider

09/16/2022

Building a strong service marketing plan requires first understanding the challenges of services before creating a valuable experience. The four challenges of service marketing are:

1.) Intangibility which is the lack of physical form as services cannot be held, touched, or saved. This makes customer perceived risk higher, because value is only derived from consumption and cannot be evaluated until the service is experienced.

2.) Inseparability which means the production and consumption of the service cannot be separated from the service provider. This poses as a challenge because services are contact based requiring labor intensive effort with little opportunity to substitute capital for labor.

3.) Perishability because the service performance is short-lived. This poses a threat to service as demand often fluctuates and there is no inventory to use as a buffer since services cannot be reserved.

4.) Variability since each service is delivered by personnel there is always room for human variation, altering the quality. This hinders the brand because service quality has few opportunities to standardize delivery.

Ja'nay B

07/01/2024

06/27/2024

12/11/2023

04/28/2023

01/06/2023

01/03/2023

01/02/2023

11/30/2022

11/30/2022

09/16/2022

09/16/2022

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Monday	9am - 5pm
Tuesday	9am - 5pm
Wednesday	9am - 5pm
Thursday	9am - 5pm
Friday	9am - 5pm