Are you contemplating starting a business? Or perhaps you have already taken the first steps to set up your online store or brick-and-mortar entity. Establishing a company mission statement should be one of the first things that you tackle after you take care of all the legal tasks associated with incorporating your business.
A great mission statement should define your brand and its values to the consumers you target for your business and its products and services. High-quality company branding will ideally inspire and nurture the human spirit and bring inspiration and innovation to the forefront of your company. When you define your brand, you establish a purposeful company capable of attracting and maintaining a loyal, targeted customer base, even if or when a cheaper option becomes available.
Consider your own shopping habits and tendencies. When you shop, do you tend to gravitate toward a specific brand of product that many manufacturers produce and market? Why or why not?
From major purchases like automobiles to day-to-day casual purchases of pocket breath mints or chewing gum, many motivating factors lead you to choose a specific brand. Sure, cost can be (and often is) a determining factor when making major purchases, yet brand loyalty still resonates strongly with many consumers. There is a reason for that, and an intrinsic part of that purchasing motivation can be the business mission statement the company chose to promote its brand.