Nowadays, driving a car to work or for pleasure has become a part of life for most of us. But if we knew that not wearing a seatbelt increases the risk of death in a car accident by about 30% compared to wearing a 2-point seatbelt?
In fact, that was the case until Volvo engineer Nils Bohlin perfected the now ubiquitous 3-point seatbelt in 1959. This innovation not only improved safety, but also solidified Volvo's brand for reliability and safety, an image that persists to this day.
Indeed, businesses always have to look for some kind of uniqueness to establish a memorable and influential brand. For example, creating such an identity through a private label brand is one of the business models that offers a fast and cost-effective way to reach the market. Read on to learn what a private label is, what its advantages and disadvantages are, and how to choose the right private label provider to pave the way to building a successful brand!
Table of Contents
What is a Private Label?
Advantages and Disadvantages of Private Labels
Advantages
Disadvantages
Choosing the Right Private Label Providers
1) Research
2) Target/Source
3) Evaluate
4) Verify
5) Negotiate
Brand Building Made Easy
