Brand – why is it needed and how to promote it
Visualization is a big part of marketing. Earlier we wrote about the evolution of brands in business history. And today we will talk about what a brand is in general and – directly – what benefits it provides for business.
There are many companies in the world. But some are well-known, while others cannot stand the competition. And it’s far from the quality of goods or services rendered. Everything is explained by the fact that some successfully promote their brand, while others do not.
Why promote a brand
The concept of “brand” is constantly mentioned in the media space. But people perceive it as a trademark, which is not entirely true. In fact, a brand is a set of consumer associations in relation to a product. They can be anything: evoke taste, color, emotions, melodies, social status, and so on.
It is not enough for companies to make themselves known by offering a quality product to the buyer. But if you create a positive brand image, success is guaranteed.
It is a mistake to identify a brand and a trademark (TM). The first concept is abstract, but at the same time comprehensive, and the second is purely legal. TM is a combination of a graphic image and text, a certain font and image manner, assigned to a certain legal or natural person. Whereas a brand is a whole phenomenon, the quintessence of a statement of the complexity of a product – politics, advertising, slogans, beliefs and history – is the universe of a company or person. And contact with even one of the facets of the brand immerses you in it. Even if the brand is just a word, name, surname or nickname of a person, animal name.
The consumer will be more willing to purchase brand name products or services, even if they are of lower quality and higher cost than competitors. After all, getting into the “brand universe” a person feels like a part of a single whole – “trendy and important”.
Dmitry Orlov, Exiterra business blog editor
In order for the audience to more readily purchase products of the well-known brand, a special marketing campaign is being carried out – branding. Its main goals:
- attract a loyal audience;
- stand out from the competition;
- increase profits;
- increase the value of the company;
- Is the image of the company so important?
Image recognition as a guarantee of capitalization
To understand the importance of branding, let’s look at some examples.
Apple’s fame is amazing. “Think different” is her slogan. And the army of fans who buy electronics with the badge of this brand wants to think the same way. The release of new smartphones from Apple in the media space is perceived as an important event. And people are ready to line up in order to get the novelty as soon as possible. Hence the company has a huge profit: $55.2 billion in 2019.
Not only firms can become a brand. Now many people are looking to create a personal brand. Elon Musk (Elon Reeve Musk, born June 28, 1971 in Pretoria, South Africa) is one of these people. His name is well-known, and thanks to this, his companies (Tesla, SpaceX) are also known. The name alone brings him huge dividends – investors are ready to invest in Musk’s projects.
Coca-Cola is a brand with a powerful marketing campaign. Even though there is evidence that the drink can be used as a cleaning agent or solvent, its popularity has not diminished. Coca-Cola continues to be associated with the holiday. Especially Happy New Year, because everyone immediately remembers the advertisement on television with the slogan “The holiday is coming to us.” The Coca-Cola brand is valued at $60 billion, which is 3 times the value of the company itself.
This is just a small part of the brands whose popularity was made possible by a successful marketing campaign.
And the most difficult thing in a marketing campaign is interaction with the target audience: you need to find out its preferences, attitude to the product. Business owners use different tools to do this. Including various applications and online services. SFERA is developing one of these. The Choose sub-application is included in the list of 20 services collected on one platform. In it, you can poll the target audience in a short time, find out its opinion on any issues. Also, with the help of the application, you can declare or remind yourself, evaluate a unique selling proposition.
There are many other ways to brand, and each has its pros and cons. It’s up to you to decide which one suits you best. But this phenomenon needs special attention.
HOW TO INCREASE COMPANY BRAND RECOGNIZATION: 10 WAYS TO CREATE A RECOGNIZABLE BRAND
Is branding inevitable?
How do you personally assess the possibilities of branding? What directions in brand promotion do you consider preferable? How do you promote your brand?
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