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The fact of the matter is that there is no consistent standard with which to measure brand equity. By brand equity, I mean the power of a brand, not it’s market value. If my terms have been confusing to anyone, I apologize. Brand equity, as Rodger’s article put it so well, is like a mysterious
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The question is whether your brand is a clearly structured asset to the company, or a confusing jumble of antiquated internal corporate practices. In many cases, a company’s brand develops over time by pure accident and can, over time, become more of a liability than an asset. Compare this with a clearly defined and managed
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Most brands start out distinguishing themselves based on products and unique service offerings. As the market develops, there are fewer ways to differentiate product lines. Features become ubiquitous across brands and most are forced down the dark road of competing on price alone. This, however, is just one possible fate for developing markets. The other
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Sometimes there just isn’t anyone you can acquire to extend your coverage of the market. Either your competition is entirely incompatible with your organization or it would just be cheaper to start from scratch than incorporate another entity. In this case, it is easiest to establish an entirely new brand for the new segment of
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PR can be a powerful weapon, but it is also a two-edged sword. Good PR can build your reputation in the community and better your chances at scoring new customers. Bad PR can damage your existing customer base and cost you much needed sales throughout the year. You can’t really predict what kind of PR
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Arguably, one of the most important elements of a brand is its avatar or logo. This image is the most recognizable part of the brand; it appears on the product, its packaging, media advertisements, and possibly your storefront. Building an avatar is a task and a half, and the process involves many steps. Step 1)
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Successful brands speak for themselves. This takes a lot of work from the marketing department, but it is possible. An animated brand can stand by itself; an inert one needs the constant weight of the company behind it and remains more a sub-brand than a brand in its own right. I was asked the other
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Yesterday, I wrote about the importance of branding. Unfortunately, we have yet to define exactly what I mean by “branding.” Branding is a process of developing the corporation’s or product’s character and image in the market. This is a simple definition, but a brand itself is a very complex machine. There are three key aspects
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Many people have asked me why branding is important. In a previous post, I said branding was a means of simplifying communication. Coca-cola is distinguished from other colas by its unique taste. Rather than describing for a waiter what kind of cola you want with your meal, you ask for a Coke. This is a
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Every once in a while a company needs to take a close, critical look at itself. Brand managers invest countless hours in developing an honest image to represent their product or company. Stamping the brand all over company correspondence and product launches at this stage, however, is an indicator of mediocrity. A good manager will