We live in a world dominated by brands. We have our favorite brands of cars, electronic equipment, beverages, cosmetics and other products that make our daily functioning easier or make our free time more enjoyable. Building a strong brand is a recipe for business success! But what exactly is a brand? What are the brand's most important functions?
What is a brand?
Why does the customer choose one specific product from among many competing products? Often the secret to the popularity of certain goods lies in the power of the brand.
The basic definition is that a brand - a brand - is a name, term, mark, symbol, logo, graphic designs or combinations of all these elements designed to mark and distinguish specific products or services from competing goods. A brand includes all communication, behavioral and visual elements. It follows that the brand is also a fanpage on Facebook, the company's behavior towards the consumer, the appearance of the packaging, advertising, distribution method, pricing policy.
How to create a strong brand that will be successful? And what can building a recognizable brand do for you? What are the functions of a brand in business?
Do you want to create a strong brand that will be successful?
We know how to do it!
How to build a profitable brand?
New brands are constantly appearing on the market. Some of them are successful and continue to grow, while others fail even moments after starting a business. Why is this happening? A brand's success depends on many factors. One of the first and most important is the process of shaping the brand. The essence of the brand, its character, values, etc. depends to a large extent on it.
Branding is a long and demanding process. In business, it is called branding. We have mentioned that a brand is a set of certain elements that are to distinguish a given product or service from the competition. Naming and determining the entire visual identity is therefore one of the first stages of branding. However, in today's market, this is not enough. Brand functional elements are easy to copy. Today, the mere fact of having a branded product does not really matter. A brand is not only a logo, badge or symbol. What is behind this symbol is much more important.
Today's brands carry specific messages, emotions, experiences and stories. They are more than that. They focus on symbolic and emotional elements - including positive associations, views, attitudes and values. The key to creating a strong, successful brand is therefore to give it a certain character, value and goal, which it will pursue with its actions.
When building a professional brand, the following should be specified:
- brand attributes - elements that distinguish the brand from others, unique features, values that no one else professes, something unique that makes the brand unique,
- customer benefits - what the customer will receive when buying a product or using a brand's service,
- brand use situation - the moment when the product / service works best (e.g. the Merci brand promotes its chocolates as an ideal way to express gratitude to a loved one),
- price-quality ratio,
- country or region of origin (if relevant) - e.g. Swiss watches, French champagne.
Highlighting the above features is used to brand positioning on the market and facilitates building a competitive advantage.
A meticulously created and well-positioned brand will fulfill its most important functions. What brand functions are the most valuable from the entrepreneurs' point of view?
Brand functions, or what you can gain
A brand is something that distinguishes a given product from competing products. Brands build associations, make it easier to remember specific products or services, and thus make it easier for customers to make purchasing decisions. Toyota is associated with uptime and reliability, Milka evokes happiness and pleasant sweetness that melts in your mouth, and Lipton is a unique aroma and excellent quality.
A well-built brand communicates the emotional benefits resulting from the purchase of a specific product or use of a given service, and conveys certain values that are important for a given market segment.
A well-built brand is a kind of incentive to buy. A potential customer knows what to expect from a given commodity, and thus takes it easily purchasing decisions. Building a strong brand is a great way to create a solid competitive advantage on the market, continuous development and generating attractive profits, and thus - the ultimate success in business.
Creating a successful brand allows you to save on marketing in the long term. A good image sells itself, so you don't have to spend huge sums on promotional campaigns.
Does your brand fulfill the above functions? If not, think about how you can improve it! We are happy to help you with this. contact us and check how we do good rebranding.