How Brands Deliver Value
Good Marketing is about adding value – To build a brand, you have to focus on what you do that adds value for customers. Do you deliver on the promise of your value offer – on time, every time? Do your clients get value by investing in you?
Branding integrates quality, customer service, marketing communication and value to present a unified message about the organisation, its products.
Your brand will integrate all your marketing around a core idea and vision. As a result, you will find it easier to sell yourself, because your message will be uniform and powerful.
Brands represent a cluster of benefits to both the supplier organisation and the buyer/consumer. Brands create value for organisations and buyers through the following:
- As Legal Identifiers – a legal mark of ownership
- By Creating Identity, Uniqueness, Image and Personality
- By Providing the Focus for a Relationship – between supplier and buyer
- By Providing the Organisation with Vision – the reason for the brands existence
- By Assisting Marketing Communication – a brand is a shorthand description of the many positive (and negative) elements that a value offer/product represents
Brands act as risk reducers (performance; financial; time, psychological) when buyers can identify their previous purchases
Because buyers can express preferences for a brand, organisations can better forecast demand and plan production and distribution
Good Brands Should:
- Communicate Value Clearly and Simply – make clear promises to their target segment
- Be Carefully Named – simple to understand, pronounce and remember; be distinctive; lack foreign meanings; suggest product benefits;
- Have An Easily Recognised Symbol Or Logo Associated With Them
- Deliver on the promises they make
- Have logical extensions
Brand Awareness – is defined in terms of two components, brand awareness and brand image.
Brand awareness relates to brand recall and recognition performance by consumers.
Brand image refers to the set of associations linked to the brand that consumers hold in memory.