Today's guest blogger is Dr. Niloufar Shahlaei a Marketing Expert.
Niloufar is passionate about helping businesses with brand marketing consulting, designing marketing plans, and running successful marketing campaigns.
In today's blog post, she shares her perspective on the essential elements of branding.
There are several definitions of branding, but what exactly is a brand and what does branding mean?
Let's start with this...
A brand is a name, design, symbol, or other features that identify one company's product or service from its competitors. A brand is an easily recognizable name that tells people about a unique product or service.
Now let's look at branding..
Branding is the process of giving meaning to an organization, company, product, or service via making a brand in the consumers' minds. Branding is part of a strategy that a company uses to help people quickly identify a brand and give them a reason to choose their product or service over another. Think of it this way, if you were given the choice to buy a product - both equal in every way, with the exception that one of them you recognize the brand and the other is a non-name brand. Which would you buy?
Branding includes several elements. Here is the list of those elements, my hope is that you can use them to help you create your own brand:
This is an experience or value the customers of a brand can expect to receive whenever they interact with that brand. Brand promise guarantees to meet customers' needs, and it describes the quality of the products/services and customer experience.
This is the way people recognize the brand. It may be through the name, color, logo, slogan, image, shape, graphics, or typography. For instance, the Pepsi logo is simple, but it is easily recognizable worldwide.
This is the customers' perception of the brand. A brand image creates via brand communication. It shows what people expect from the brand. For example, Rolex has the image of a luxury watch. It is sometimes impossible to change a brand image, so it is recommended to define a goal and target audience before creating a brand.
Brand Personality and Voice
This is like an individual's personality includes personal qualities and emotions that we associate with a specific brand. The brand tone of voice demonstrates the brand personality. Brand Personality helps a brand connect with its audience and makes it different from the other brands. In other words, a brand personality composes of voice and tone and all the elements that make an individual outstanding and establish identity.
This is a combination of feelings, attitudes, thoughts, experiences, and actions evoked by a brand through the purchasing process and using the brand.
This is the way a product or service is placed in the market. It is a strategy to set a business apart from competitors. Also, it defines the market segments that a company plans to target. For example, Victoria Secret is a store targeting women ages 21-49.
This is the value that a company creates from a product with a differentiable name. It can create by making high quality, reliable, recognizable, and memorable products.
This shows the financial amount a brand is worth in the market. Brand value is the sale value of a brand. It can impact on a company's income and the market.
It is how a brand stands out and provides unique value to a customer compared to other products in the market.
All activities that impact a customers' opinions of a product and lead them to purchase a brand. It is a message that delivers to a target audience through various tools such as advertising. A successful brand can deliver the benefits of a brand to the customers. Sometimes there is a gap between what a brand promises and what it does in reality. If this gap is high, it causes customer dissatisfaction.
Brand Stretching or Brand Extension
It is a marketing strategy that a company uses one of its established brand names to go beyond one field and provide new products in different categories. This strategy can be used by the company that already has established brand equity to help it launch its new product in a market.
As you can see, there are many elements that go into a brand. When you use them and apply them through strategy, there are many benefits of building a good brand.
Your brand is one of the most valuable assets for your business. A brand affects people experience and psychology. So, consider adding or improving each branding element mentioned in this post. It will help improve your overall branding strategy.
As a final thought, remember that effective branding is an essential part of any company's business plan that aims to develop its business. A brand creates a positive perception of a product in customers' minds and distinguishes a brand from the rest. Your brand can bring awareness, credibility, reputation, customer satisfaction, and finally increased sales.
Thank you for reading!
Your Marketing Expert - Dr. Niloufar Shahlaei
Follow me on LinkedIn: https://www.linkedin.com/in/marketingspecialistlosangeles/
Check out my website: https://www.nilushah.com