In this competitive world, everyone is trying to win over their rivals, but this is not an easy task. You can run a company and provide services, but increasing its popularity can be a daunting task. To make your brand popular and reach to every customer, you need to first understand the concept of branding.
What is Brand Building?
Definition: Enhancing a brand’s equity directly through advertising campaigns and indirectly through promotions such as for cause championing or event sponsorship.
What is Brand Equity?
Definition: A brand’s power derived from the goodwill and name recognition that it has earned over time, which translates into higher sales volume and higher profit margins against competing brands.
Now the question will arise how? This requires lots of effort. So let’s start one by one; first of all, you need to examine the current management practices.
Examine the Current Brand Management Practices
This is an important step to know what you are doing and what is missing?
Audit— Brand management audit help to create a baseline to calculate the future success of your company or brand. In this research, you need to cover areas like Brand Identity, positioning, standard & systems, strategy, internal brand building, marketing, advertising and skill sets of advertising employees.
Tactics: You need to do in-depth survey and interview with all your marketing and advertising employees.
Current Brand Architecture— You need to construct a brand matrix and overlay it with business information including cost of sales, distribution, sales percentage, impact on the business of brand as a whole, etc. When you get results, focus on interviews, surveys etc. and develop a brand architecture for future.
Tactics: An in-depth survey and interview with advertising and marketing employees. Gather complete business information and accordingly construct the Brand Architecture matrix document.
Prepare the Marketing and Advertising Department for the Process— Let your marketing and advertisement employees understand the process of the brand management. Provide an overview of the process, give them responsibilities to complete their task and achieve goals. Make each point clear to them so that they can focus and maintain.
Clear doubts of marketing and advertising team, because of less confusion better results.
Some Important Concepts to Understand:
- Brand Image
- Brand Identity
- Brand Promise
- Brand Equity or Value
- Brand Positioning
- Brand Portfolio
- Brand Architecture
- Brand Associations
- Brand Essence
- Brand Personality
- Brand Extension
- Trade Dress
- Brand Management Process
It will also help you to start your brand building manual.
Tactics: Define duties and roles of the brand management research team. Organize a meeting with employees to make them understand about company’s goals. Prepare a manual of brand building management and create graph and imagery to show your future plans.
You will be able to enhance popularity and quality of your brand in the market. let’s begin your journey from product to brand—
Understand Branding Process
Branding process includes two major terms
- Brand Building
Let’s start with branding…
- Understanding Branding
In this process, you need to understand 5 stages.
- The name identifies a product.
- A brand name is more distinctive than the product.
- It’s set of functional and psychological advantages.
- Should be Short
- Should be Distinctive
- Don’t choose a name which means anything silly or rude in another language
- Always avoid generic or line extended names
- Changing product name is not a bad technique
The visual elements
- Meanings of various colors
- Blue- peaceful
- Purple- royalty
- Red- energetic
- Opposite colors can segregate
- Stand out with unique color combination
- Colors and logo help to boost power of the brand
- A brand should “leverage a compelling truth”
- A brand name should mean a single powerful thing: the essence
- A brand name should provide clear essence
- A brand essence should stream out solely from its name itself.
- Avoid choosing a name that means a lot of things, it will lose its essence.
- Brand should address similar essential segment
- Brand with interrelating strengths
- Brand building should attract customers’ attention, not rivals.
- If not sure about new medium or market better to choose a reliable option.
- Built independent and new brand
- Pricing led branding option and it works as a competitive response.
- Give each sibling a unique identity; it is key to a multi-brand approach.
- Create an attractive brand to mash the competitor brands and beat them with corporate frosting
- Focus on common product areas
- Sole attribute segmentation
- Sibling generates new category
House of Brands
- Corporate strategy often dictated, core competence of the company is advertising & marketing
- Independents multiple brands allows firm to fill all niche
- The company gets the opportunity to focus on every brand and its scope.
- Endorsement help to transfer brand assets from one to another brand
- The risk is diluting the equity of endorsing brand
- Inside out branding.
- The risk is sub-branding can abolish what branding builds
- Consumers can buy brands, but not firm
- It can motivate trade and could be useful for PR purposes
- The risk associated is being several things to only one group of people
Single Brand family
- Different products: Constant values
- Distinguish between product usage
- You can use umbrella branding, for example, Sony- Electronic Technology and TATA- Trust
It is cheaper option to create a brand than creating new one
It is difficult to stretch brands across performance and price
Risk of corroding current position
You can lose chance of making new segment
‘Stand-alone’ New Brand
- Enter in a popular segment successfully with new concept
- Brand-wise differentiation of brand values and attributes to target consumer segments
Clear brand identity, assets, and values
Create new prospects of range possibility in popular section
Leave your current brand secure
It is expensive to build brand assets
Transfer of Brand Assets ‘x from y’
- For example – Titan from Tata
Gain from the makers of Ariel
It’s cheaper option that creating new brand
It can be used as a ‘Transitional Strategy’
Still danger of corroding current image
Possible mix of assets and values
- Brand Building
You have now understood the branding, now you need to know how you can make your product a brand in the current market. These fours steps will help you to become a brand…
It will help you to know the actual experience of the brand in the real life.
Qualitative study: In-depth interview, generally administering a questionnaire
Mind Mapping Technique:
Evoke associations and make connections
Begin with a major concept and work towards in all possible directions
Critical Incident Technique and Other Techniques: A practice that contextualizes
Critical incident’s importance, leading to change the life of an individual.
Product: Performance of product supports the brand
Image: Image is engaging and strong
Visual: Differentiating and clear presence
Channel: Leverage in channel atmosphere
Customer: Power of customer franchise
Goodwill: Influencers endorsed in the societies
Now you have done with Brand Audit and ready to create a Connection Triangle:
Dissecting a Brand— Brand Audit exemplifies the unique three factors
- Benefit: Product Attribute
- Personality: Brand Imagery
- Beliefs: Consumer Requirements
Each brand has three values as the rimary driver.
Product’s Nature, includes taste, smell, texture, heritage, size, complexity, cost
Think once again;
Will customers like it?
Is your product distinctive?
How can the product be re-formed into consumer benefit?
How to convert a product into a benefit driven brand?
Ask yourself why you like a particular brand?
What do you get from the product that matters to you?
It requires a deep knowledge and research.
- Your product should win the trust of consumers.
- Your advertisers or marketing people should use a proper plan to introduce your product.
Brand Image Driven Brand—
You can use some attractive rulings to grab the heart of consumers.
- HSBC is your local bank
- Tata Safari makes its own road
- Airtel- Har Ek Friend Zaroori Hota Hai
Make you customers rely on you, earn their trust, increase your brand’s value, etc.
David Ogilvy said “Unless advertising contains a big idea it will pass like a ship in the night.” You need to think in a different manner…
- Big strategic ideas
- Big execution ideas
Think about people; communally, culturally & individually
Think about product; reinterpreting the way a product attribute is presented
Think about problems; Outsmarting a problem by demonstrating alternative solution
Think about promise; change the nature of brand proposal that makes it seem ‘bigger’
There are advertising options such as TV, newspaper, Internet, and more. You need to hire a creative advertising agency for particular task. Let me define you each thing one by one…
For TV: There are some advertisement companies available, you can talk to them and tell about your goal. What is your prospective and about your product. These advertisement companies will make a unique advertisement for you.
TV ads are one of the sources that can help you to grab attention of many people.
News Paper: Similarly you can advertise on newspaper. Numerous people read the newspaper and your advertisement can attract them.
Internet: Nowadays internet is becoming more popular than other platforms. Most of people use internet for any kind of search. To make your product popular you should not miss any media of advertising and internet never! Develop an SEO friendly website, choose domain name similar to your brand name.
Provide complete and detailed information about company and its product. So that people can know easily. It’s not enough to become a leader you need to work hard. Hire expert SEO company and promote your product (Website). As much better ranking you will earn that much chances will increase your visibility, means more customers will be able to see your products.
Your journey begins here! Now you need to maintain quality of your product. Try to achieve new success, enlarge your dreams and let your rivals feel jealous.