We have put together the elements of a brand, brand equity, brand strategy, brand recall, brand loyalty and how to build strong brands in this presentation about branding.
2. Contents
What is a brand?
Brand elements
Brand equity
Brand strategy
Brand storyteller
Brand recall
Brand loyalty
Building strong brands
Conclusion
3. What is a brand?
Brand is a unique identification symbol, logo, or name of a product
and service which motivates customers to buy the product. It
becomes a perception of added value to the product, for which the
customer will pay the premium price.
4. Brand elements
Brand name: logo, name, tagline
Brand personality: What would you like your brand to be known as
innovative, serious, magical, fun, etc.
Brand promise: The most important thing which your brand
promises to deliver every time.
Brand associations: Images, colors, taglines, fonts, equipment, etc.
5. What is brand equity?
Brand equity is the additional value which a product
receives after becoming an established brand or
bringing a good level of brand awareness. It brings a
competitive advantage resulting in higher sales and
revenue.
6. Importance of brand equity in marketing
Brand equity means a company has differentiated itself from the
competitors in some or the other way. It can be high product
quality, effective marketing campaign, or excellent customer
service.
Brand equity is important in marketing as it garners required
recognition and respect from the consumers by motivating them to
spend more on their product than other similar product.
7. Brand identity
Apple Inc. tops the surveys of the most beloved brands as it has made the
impression that its products are sleek, top-of-the-line, innovative, and
helpful at the same time. Brand identity is visible elements of the brand
such as design, color, and the logo that identifies and distinguishes the
brand in the consumer’s minds.
It has the power to attract new customers while also making the existing
customers comfortable. Brand identity is the way to communicate with the
world, differentiating itself from the competition and creating a brand
experience that encourages people in engaging with you.
8. The above graph shows how Apple made a strong brand identity and
reached $1 trillion market capital over the years.
9. Brand strategy in marketing specifically focuses on the emotions of
potential customers. With the example of Apple, the starting point is how
the Apple product experience makes one feel. It’s brand personality is
about liberty, lifestyle, imagination, aspiration, innovation, and power to
people via technology.
In this brand strategy diagram, Apple’s mainly focusses on the uniqueness
of their products.
Brand strategy
10. Every brand can be a great storyteller, which can act as a catalyst for the business.
Real stories connect with the people and build a strong foundation of trust. It
reinforces the brand’s values by building an emotional bond with the potential
customer. A higher engagement level and strong connection with the potential
customer is fruitful in the longer run.
Apple has been a great storyteller as they first address the question “why”
should anyone purchase their product?
As rightly said by the motivational speaker Simon Sinek “People don’t buy what
you do, they buy why you do it”
Every Brand can be a storyteller
11. Brand recall is the extent to which a person can distinct a specific brand from the other.
There are two categories of brand recall, which are:
Aided recall: It is the recall when a person remembers the brand when the brand name is bought
into the discussion. When the brand name is mentioned, it enhances the memory in the customer’s
mind.
Unaided recall: Here, without the mention of the brand, the customer can remember the brand.
This shows that the brand has made a strong impact on the customer’s mind.
For example, if you think of high brand shoes, then “Adidas,” “Nike” comes to your mind.
Think of premium cars, then “Audi,” “BMW,” “Mercedes” will be recalled.
Brand recall:
12. Brand loyalty is the repeat purchase for a specific product even though the consumer has multiple options. The
marketing campaigns are designed here to nurture brand loyalty. The brand loyalty campaign is highly successful
when it addresses the attributes which are crucial to its segment of the market.
Brand loyalty is desired by the majority of the businesses as acquiring a new customer is difficult than retaining
the existing ones.
Apple has a strong and loyal customer base due to its effective brand strategy, which allows customers to have a
passion for its products. The company guarantees that the product delivered is of high quality, and they
continuously innovate to satisfy the consumer’s aspirations. Brand loyalty leads to the fulfillment of emotional
and physical needs that are evoked during the purchase process.
Brand loyalty
14. Huge margins
Improved perceptions of a product
Increased marketing communication effectiveness
Greater loyalty
Possible licensing opportunities
Lesser vulnerability to crisis
Advantages of having strong brands
15. A good branding is all about trust, respect, and relationships. Sometimes your new customers would be happy
to see your old customers and what they have to say about the brand. Adding some of the testimonials in your
company’s work also can add credibility to your brand.
Conclusion:
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