Being creative means pushing the standard higher, moving towards the new, the never-thought-of.
This form of “innovation” helps drive differentiation and competitive advantage through ownership of defined brand assets, such as original designs for logos, high-quality communication, distinctive advertising with higher production values, authentic and original photography, and various other intangible assets.
Brand building requires the well-crafted design of a brand namestyle and identifier of the product and services involved – normally a bundle of the two.
An outstanding piece of design development or a clever brand name can draw the attention of a great number of consumers, raise the value of the product and services and become an important asset of the enterprise.
Therefore, SME’s should increase their awareness of trademark protection and eliminate the possibilities of trademark pirating. Malta has very reasonable administration fees for various industrial property registrations including those for trade-marks and patents, as a measure to encourage enterprises to explore intangible assets. This type of brand-building and brand protection help enterprises to develop ownership of their market through the recurrent revenues enjoyed by the brand.
Integrity is an important foundation of SME brand development and allows a believable and engaging brand promise to emerge and be maintained by the business for longterm revenue harvesting. A relatively recent Maltese start-up to recognise the importance of brand protection is the new smoothie brand Dr. Juice, which now operates 7 outlets and has expanded their brand franchise to Italy. Ogilvy helped create and establish the Dr. Juice brand and position it within the market.