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John Spacey, April 08, 2017 updated on February 28, 2018
Branding is the process of establishing a valuable identity for products and services in the minds of customers. This has several basic elements:Brand NameBrand names are typically designed to be memorable and to stand out in a crowded market. In some cases, they are also designed to convey your mission, vision or values.
A logo and other visual symbols of a brand.The basic idea behind your brand. Used as a principle to guide brand strategy.Everything you want your customers to think and feel about your brand.
Everything your customers actually think and feel about your brand.The reputation of your brand on the market based on factors such as quality and the behavior of your firm.The history of a brand. It is usually a positive thing to have a long history behind you that you can leverage for brand storytelling. Brand legacy can also be negative thing such as a technology brand that customers associate with an out-of-date technology.
The idea that customers evaluate brands using the same cognitive processes that they use to think about people. For example, it is common for marketing teams to define their brand identity using words that can be applied to people such as friendly, reliable or stylish.Developing a unique identity and value proposition for a brand relative to other offerings in the market.
A short statement that communicates what customers can expect from your brand.The idea that brands build value through interaction with the customer. In other words, brands become valuable based on the realities of their products and services. Engaging all employees in your brand strategy to make your brand identity a reality as opposed to an empty pitch.
Authentic BrandingDeveloping a brand that accurately reflects your story as a firm. For example, a brand based on the personality of its founder.The use of storytelling to shape and promote your brand.The culture that evolves around your brand that is driven by your customers and employees. For example, a restaurant chain that is known to have a lively atmosphere on Friday nights.
Using a brand for a new type of product.A group of products and services that use the same brand name.The structure of a brand family. For example, a brand with variations for different product categories such as "Acme Airlines" and "Acme Coffee."The percentage of your target market that recognize your brand when they see its brand name or visual symbols. Customers are more likely to buy what they recognize, even if they have no information about the brand. In many cases, advertising is primarily intended to build and maintain brand recognition as it can have a significant impact on sales.The percentage of your target market that can name your brand when prompted with a product category. For example, "can you name 5 breakfast cereals?"The percentage of your target market that name your brand first when prompted with a product category.Customers who purchase your brand regularly.Customers, employees or partners who recommend your brand.The value of your brand to your business. Brand equity is an intangible asset.|
| Type | | | Definition | The process of establishing a valuable identity for products and services in the minds of customers. | | Related Concepts | |
Branding
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