16 Feb 2018
To start with, I would like to ask you what is a brand and who do you call a brand?
What Comes to your mind when you recall a specific product or service brand name?
Let me tell you, Branding means ‘a promise it makes to its customers be it be on quality of the product or providing a service. It should serve its purpose to its intended audience.
To be called a ‘Brand’ it should have the following qualities:
Some of the benefits of having brand value are:
- Customer Loyalty
- Increase Value
- Allows Higher prices
- Build Market Shares
- Easier to launch new products
- Lower Employee Turnover
- Helps in Talent recruitment
- Measure the brand
They should define:
- Core purpose
- Functional Benefits
- Emotional Benefits
Brand persona, every brand should exhibit human like qualities such as helpful, sincerity, excitement, competence, sophistication and ruggedness. Although, it is not possible to imbibe all in one, but it is necessary to induce some of the above for an emotional connect with the target customers.
After, defining the brand building process it is very important to identify the customers,
the correct market segmentation helps in choosing the right demographics, attitude, geographical and behavioural characteristics.
Brand should create the right value proposition to its customers, having an effective logo design will give an advantage by representing brand values, core promise, persona etc. It will be the face of the brand and designed in such a way to have an easy consumer recall.
To be a brand, it should follow specific guidelines
- Deciding where to focus (B2B or B2C)
- Effective Brand Management
- Design Strategy
- Communication strategy
- Having a developmental plan
Conclusion: Having the right brand foundation helps a lot, Lastly, it is employees, stakeholders and people involved with the brand should keep the promise made and they should clearly understand the purpose of the brand the way it should connect with the target customers.