A brand is not a logo. It is the primary touch point for your customers. This can be a feature, symbol, design, a term, or a name. A brand is pertinent is advertising, marketing, and a business. It takes a significant investment and a particular time-frame. Especially, to establish yourself as a prominent brand name.
Let us look at the Key Glossary terms of Branding:
The monetary or commercial value of your brand name in the mind of your consumers. It is the value that you derive through this perception and not your product or service.
The construction of a brand and the entire structure, which is unique. A company can have more than one brand. Brand architecture is what separates them.[sociallocker]
Example: There are 3 measures of Branding:
- Family Brand
- Corporate Brand
- Umbrella Brand
Sub-brands include Nestle KitKat, Sony PlayStation, Cadbury Dairy Milk.
Furthermore, The cognition, feelings, sensations or a behavioral response. The ones that arouse by a brand related-stimuli. It can be a part of the brand-related packaging, identity, communication, and environments.
Correspondingly, Building a Brand name from scratch requires a hefty investment in your B.A.M. You can use a power or an established brand name on a fresh brand. In particular, to increase the sales of the new one.
Market wise, This section provides a consistency to all the products under one brand name. It can be a visual identity or brand positioning.
Likely, The vague or concrete impression of a product, that carves in the mind of a potential customer.
Comparatively, The art of presenting your business, and the way you want consumers to perceive it.
A supervision of the promotion of a particular brand.
The human characteristics that attribute of a brand. Customers can relate to this on a humanistic level. These can be the traits that a particular consumer segment enjoys.
Moreover, Brand Positioning is the conceptual place you want to own in the target consumer’s mind.
Assigning a brand name to a product or a service.
Additionally, The partnership between two or more brands.
A sub-Brand or an offshoot of a parent brand.
The USP of your brand. An aspect that differentiates you and provides more elements of a customer benefit.
Your brand name and recognition is an intangible asset. Something that you cannot measure.
A brand name that has the hugest share in the sales pie.
A significant part of the market that your brand controls.
A master brand is a specific overarching brand name. The one that serves as the main anchoring point on which all underlying products reach a formulation.
A parent brand is an existing brand. Especially, the one that supports a brand extension by sharing its brand identity.
As an illustration, The very statement that highlights the key areas. These statements describe how a brand fulfills a consumer need.
To emphasize, The reinvention of an established brand.
To demonstrate, Market wise, This involves changing the status of a brand. It may include a change in your marketing mix. Which may include the 4P’s.
For example, Like an Endorsed Brand.
In general, Things that you can measure, smell, hear, and see as promotional items.
To clarify, The visual elements of a brand like the color, shape, and form. This conveys a symbolic meaning.
Finally, we have a trademark. It is a registered brand or trade name. It may include any combination of a name, slogan, logo, sounds or colors. Especially, that identifies the company or its products or services. For example, the Nike Swoosh is a registered trademark.[/sociallocker]