Building a Better Brand
Summary:
The key to marketing your business is finding a timeless position and staying focused on what you want. Each brand has their loyalists for example, Nike and Michelin etc. Why are people like you and me willing to spend more for products from companies like Nike and Michelin? The answer is branding. The huge investment of time and money they spend on their brands will make their products worth more in the marketplace.
Then, how we can build a better brand?
Adding Value
The better the branding efforts the more value a brand can add to the products and services.
People don't diagram the meaning behind brands. The name or logo instantly brings to their minds a perception built by years of branding cues.
Take Your Positions
Positioning is simply the rational and emotional benefits people associate with a brand.
Keeping Focus
As the company introduces new models, they inevitably include the latest and greatest features. But BMW doesn't attempt to build its positioning around run-flat tires or side-impact airbags. Instead, the company understands that in the automotive market there will always be a segment of buyers for whom the way a car handles and feels (and makes its driver feel) is the most important consideration. Furthermore, performance is the benefit BMW has owned for decades, and the brand has kept its focus there even as the definition of performance has evolved.
Opinion:
Most people like some prominent brand like Nike, Reebok and I Pod some thing like that. Some people buy those companies’s product because of its new technology and new function. However, that’s not all for customers in the world. Many companies try to set their image through branding. To brand their name is one of the important key points in marketing. The huge investment of time and money they spend on their brands will make their products worth more in the marketplace. So, we need to study about the way, how we can build a better brand. To build a better brand, you can add value through the name or logo. It may bring to customers minds a perception built by years of branding cues. The brand perception can be made not ease but hard through many years. Next, Company has to keep their position. Many brands have its steady customer. So, try to keep their rational and emotional benefits people associate with a brand. Lastly, keeping focus is necessary. As you know, BMW does not advertise their new product’s new technology. They emphasize more on their comfortable and history. That kind of strategy is keeping their position. As I said before, don't focus on features that will soon be co-opted by its competitors is important. Consider the primary benefits your brand provides and what they really add up to. Getting positioning right is the first step in creating a brand worth billions.
Annotation: Building a Better Brand, Business week, October 12, 2007
The key to marketing your business is finding a timeless position and staying focused on what you want. Each brand has their loyalists for example, Nike and Michelin etc. Why are people like you and me willing to spend more for products from companies like Nike and Michelin? The answer is branding. The huge investment of time and money they spend on their brands will make their products worth more in the marketplace.
Then, how we can build a better brand?
Adding Value
The better the branding efforts the more value a brand can add to the products and services.
People don't diagram the meaning behind brands. The name or logo instantly brings to their minds a perception built by years of branding cues.
Take Your Positions
Positioning is simply the rational and emotional benefits people associate with a brand.
Keeping Focus
As the company introduces new models, they inevitably include the latest and greatest features. But BMW doesn't attempt to build its positioning around run-flat tires or side-impact airbags. Instead, the company understands that in the automotive market there will always be a segment of buyers for whom the way a car handles and feels (and makes its driver feel) is the most important consideration. Furthermore, performance is the benefit BMW has owned for decades, and the brand has kept its focus there even as the definition of performance has evolved.
Opinion:
Most people like some prominent brand like Nike, Reebok and I Pod some thing like that. Some people buy those companies’s product because of its new technology and new function. However, that’s not all for customers in the world. Many companies try to set their image through branding. To brand their name is one of the important key points in marketing. The huge investment of time and money they spend on their brands will make their products worth more in the marketplace. So, we need to study about the way, how we can build a better brand. To build a better brand, you can add value through the name or logo. It may bring to customers minds a perception built by years of branding cues. The brand perception can be made not ease but hard through many years. Next, Company has to keep their position. Many brands have its steady customer. So, try to keep their rational and emotional benefits people associate with a brand. Lastly, keeping focus is necessary. As you know, BMW does not advertise their new product’s new technology. They emphasize more on their comfortable and history. That kind of strategy is keeping their position. As I said before, don't focus on features that will soon be co-opted by its competitors is important. Consider the primary benefits your brand provides and what they really add up to. Getting positioning right is the first step in creating a brand worth billions.
Annotation: Building a Better Brand, Business week, October 12, 2007
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