Branding & Brand Management business tools
What is Branding?
Branding is enhancing the value of a product by aligning it with your company’s brand. This is to create a link in the consumer’s mind between the product and the brand with which it is associated.
What is Brand Management?
This is working to maintain your brand’s image and reputation. Brand management entails ensuring that the brand’s name is associated with positive connotations.
Why is Branding Important?
Branding includes a wide range of elements within your customer’s entire experience. Associated with your brand is how your staff treat clients, how your website looks, who uses your product, your logo. Branding is a huge part of what instils trust in your clients, often leading to repeat purchasing. A reputable brand is likely to have a large client base, whilst a company whose branding has fallen into disrepair is likely to see its desirable clients dwindle.
Advantages of Branding:
- ->It sets you apart from the competition
- ->It helps your staff keep the company goal in mind
- ->It provides value to your business
- ->It provides recognition
- ->It tells a story
Why is Brand Management Important?
Without your commitment to maintaining your brand, you will never find customer commitment to buying from your brand. Strong brands do not come about from nothing. Hard work is required to build and sustain a strong and healthy brand for your business. Included in this ‘hard work’ is consistently defining, positioning, and delivering the brand. It entails managing the tangibles and the intangibles of your brand. For example, in the case of tangible aspects, the product itself in the product industry and the customer experience in the service industry. In the case of intangible aspects, emotional connections and expectations towards your product or service are a huge part of brand management.
Some of the world’s most powerful brands:
- -Google: Google's Identity
- -Coca-Cola: Coca-Cola's Brand
- -Nike:Nike's Branding Strategy
- -McDonalds:McDonalds is now no7 Brand
- -Apple:Apple Heads the World's Most Valuable Brands of 2017
- -PwCPWC Named One of the World's most Powerful Brands
- -L'Oreal:L’Oréal is no25 most popular brand
- -Lego:Lego's Brand Value Skyrocket's in 2017
- -Disney:Disney knows its not just magic that keeps a brand on top
- Developing Authentic Brands Through an Exploration of Corporate Values.14 remove_red_eye4$5.00by Glenn Reid
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