The word
"brand", when used as a noun, can refer to a company name,
a product name, or a unique identifier such as a logo or
trademark.
In the
pre-industrialised society, which was crafts based, there
was no need for a brand…(so to say). There was no need for
anyone to remember who makes what? The village craftsmen
made things for daily use and everyone they knew everyone's
tastes at
personal levels. When
industrialization made mass production possible, things
made in one part of the world sold in another corner of the
world. The manufacturer was in no more contact with the
consumer. The transactions became 'impersonal'.
To identify a product from that of competitor in this
'impersonal' trade,
'brand' became the vehicle to
'personalization'. Today people
identify the maker or supplier through 'brand' and put
faith in his products (though the supplier may be far
away). World across people put faith in Sony product when
it comes to electronics, Honda, when it comes to cars and
Nike, when it comes to shoes.
The
definition of brand: A brand is an
identifiable entity that makes specific promises of value.
A brand also stands for the immediate image, emotions, or
message people experience when they think of a company or
product. A brand represents all the tangible and intangible
qualities and aspects of a product or service. A brand
represents a collection of feelings and perceptions about
quality, image, lifestyle, and status. It is precisely
because brands represent intangible qualities that the term
is often hard to define. Intangible qualities, perceptions,
and feelings are often hard to grasp and clearly describe.
Brands create a perception in the mind of the customer that
there is no other product or service on the market that is
quite like yours. A brand promises to deliver value upon
which consumers and prospective purchasers can rely to be
consistent over long periods of time.
Brand
Equity is the sum total
of all the different values people attach to the brand. A
brand is
a live asset and shows all
the characteristics of a living cognitive entity. There are
a few guidelines to create a brand-
Start
with a Quality Product
To
build a strong brand you must start with a quality product
that delivers superior performance. All strong brands
absolutely demand a superior product or service. High
quality is a prerequisite to entry so don't think high
quality is enough to set your brand apart from the
competition.
Identify
your brand's distinction, define your message, and position
your brand thoughtfully
Once
you have a high quality product, then you must decide upon
the singular distinction for your product that is most
important to your target market. Are you first, best,
innovative, or most luxurious in your category? If so, then
one has found the point of singular distinction. One should
put a lot of thought into choosing your brand's singular
distinction because everything one does will reinforce that
singular distinction in the market's mind in some way.
An interesting
thing to know is that many times the first brand in a
category emerges as the category leader and can enjoy that
leadership position for years and years.
If your brand is
not first in your category then create a new category so
you can position your brand to be first in that category.
Being first in your category is often a positioning
strategy that allows your brand to be the leader in your
category for many years. Federal Express was not the first
package delivery company so they invented a new
category--overnight package delivery. Not only were they
the first brand in overnight shipping but they continue to
be the leader in that category.
Own
a word or phrase
When
defining your message, try to own a single word or short
phrase in the mind of the market. Nike® owns "Just Do It".
Pepsi® owns "Yeh Dil Mange More (Hindi)". Shopper'sStop®
owns "Feel the Experience while You Shop".
If somebody else
in your category already owns the word, choose a different
word/sentence. The chances are that word is firmly etched
in the mind of the target market and they associate it with
your competitor's brand. You are not very likely to change
that impression regardless of how much money, time, and
effort you put into trying to take over ownership of that
word.
The strongest
brands that exist today are strong because they stay
focused on that one aspect of singular distinction. Once
you try to position your brand to be many different things
to many different people, then your brand begins to not
really mean much of anything to anyone. Positioned
properly, your brand will enjoy a leadership position in
your market.
Tap
into emotion
Develop
accessible attributes for your brand. Your brand should
readily tap into your target market's psyche and evoke an
emotional response.
Build
the image
Visually,
verbally, and through your actions you need to build the
message you are trying to create about your company's
value. Choose or create a memorable name for your brand.
Create a visually effective logo. Write a tagline or slogan
for the brand that concisely captures the essence of your
unique selling proposition. Your brand should communicate
through all marketing channels with one voice, in the same
tone, in the same style. In other words, your brand image
must remain constant across all channels of communication.
Market
the image
Projecting
the image of your brand should be carried out among all
contact points with your market. This means your name,
logo, advertising, and all marketing communications
materials should communicate your USP and consistently
communicate your brand's message. Don't forget about your
website, mailings, sponsorships, and events. Your branding
effort must permeate your entire organization. The CEO, the
customer service staff, the sales force, the people who
manufacture your product on the shop floor, and the people
who sweep the floors in the company must all know and
demonstrate your brand's singular distinction at every
touch point with your market.
Live
the message
You
need to deliver on the promise you make to your market.
Whatever your brand image, positioning statement, or unique
selling proposition, you have made promises to your market
that you must deliver on. Remember, your brand is nothing
more and nothing less than these promises and you must
deliver on these promises in the mind of your market.
Tell everyone in
your organization that the one yardstick for evaluating
every decision will be whether or not the decision is made
by answering the question: "What is best for the brand?".
Measure
your brand equity against the competition and continue to
build and refine your brand
The
only way to know how well you are doing in your branding
effort is to measure your brand equity against your
competition at frequent intervals. This can be accomplished
through a variety of market research methods such as
conducting market surveys, analyzing the price premium your
brand can enjoy, studying the sustainability of your brand,
and conducting focus group research. Brand equity is
constantly changing just as society's values, perceptions,
and intelligence are changing. You must understand the
equity your brand has in the market and also understand how
your brand's image measures up against the identity you are
trying to create. When the image you have in the
marketplace is not consistent with the image you are trying
to create for your brand, then you must refine your
branding strategy and project the newly refined identity.
Branding is a
continuous process of communicating with your market. When
you build and manage your brand properly, your brand will
be pay you large dividends and your brand will be the most
valuable asset you own.