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Building a Brand Strategy

Introduction

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?

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 elements

… are different components of a brand that help identify and differentiate it from others:

 

•name
•logos
•symbols
•characters
•slogans
•packaging
•website addresses (URLs)

 

The key to branding is that consumers perceive differences among brands in a product category.
Six criteria for choosing brand elements
Brand identity

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 purpose

•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 purpose

•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 purpose
Brand equity

…  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 equity

•Reduction of marketing expenses due to higher brand awareness and brand loyalty by the consumers 
•Negotiation power
•Higher product prices due to higher perceived quality
•Easiness in launching new products under the same brand name
Brand awareness

 

•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”
•Two aspects:
 
•Brand recognition
•Brand recall 
 
Brand association

•Anything that customers connect to their preferred brand:
 
•advertisements of the brand
•product displays in retail stores
•quality perceptions
•interactions with employees
•price perceptions
•…
 
Brand loyalty

•A positive attitude toward a brand resulting in preference for that brand over all other competing brands in a product category

 

•Three degrees:
 
•Brand recognition
•Brand preference
•Brand insistence 
 
Perceived quality

•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 positioning

… explains the uniqueness of brand, how it differs from its competitors and how a brand is perceived in consumers’ minds.

 
Building Brand Identity

Brand Identity
Brand Identity System