DIGITAL SKILLS TO BUILD AND POSITION START-UP BRANDING
Building a Brand Strategy
IntroductionClick to read
At the end of this modul you will be able to:
•Define brand, recognize its elements and outline brand purpose
•Explain the elements of brand equity
•Discuss the elements of brand identity
•Identify the successful way of brand differentiation
•Critically evaluate branded content and brand storytelling
•Distinguish among social media platform that organizations use to attract customers
•Explain and discuss the elements of successful social media campaign
What is a brand?Click to read
A brand is a “name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of competition.”
American Marketing Association (AMA)
Brand vs. Product
A brand is a product that can be differentiated from other products that satisfy the same need.
Brand elementsClick to read
… are different components of a brand that help identify and differentiate it from others:
•website addresses (URLs)
The key to branding is that consumers perceive differences among brands in a product category.
Six criteria for choosing brand elementsClick to read
Brand identityClick to read
The entire set of brand elements makes up the brand identity, the contribution of all brand elements to awareness and image.
The cohesiveness of the brand identity depends on the extent to which the brand elements are consistent.
Brand purposeClick to read
•Company’s fundamental reason for being
•Company’s identity in the marketplace
•A way to differentiate a brand from competitors
•Adding value to the lives of customers and society
Business benefits of brand purposeClick to read
•Connecting with consumers through different touchpoints
•Creating an emotional connection and a deeper relationship
•Being memorable and setting the brand apart from competitors
•Increased brand power
Examples of brand purposeClick to read
Brand equityClick to read
… is the value of a brand and is determined by the consumer's perception of the brand
… consists of the marketing effects uniquely attributable to a brand
… added value that branded products and services have
Competitive advantages of high brand equityClick to read
•Reduction of marketing expenses due to higher brand awareness and brand loyalty by the consumers
•Higher product prices due to higher perceived quality
•Easiness in launching new products under the same brand name
Brand awarenessClick to read
•Consumer’s ability to identify the brand under different conditions
•”The ability of a potential buyer to recognize or recall that a brand is a member of a certain product category”
Brand associationClick to read
•Anything that customers connect to their preferred brand:
•advertisements of the brand
•product displays in retail stores
•interactions with employees
Brand loyaltyClick to read
•A positive attitude toward a brand resulting in preference for that brand over all other competing brands in a product category
Perceived qualityClick to read
•Perceived quality is an intangible, overall feeling about a brand.
•Perceived quality is the perception of the customer about the overall quality of a brand.
•Perceived quality can be defined as the customer's perception of the overall quality or superiority of a product or service with respect to its intended purpose, compared to alternatives.
Brand positioningClick to read
… explains the uniqueness of brand, how it differs from its competitors and how a brand is perceived in consumers’ minds.
Building Brand Identity
Brand IdentityClick to read
Brand Identity SystemClick to read