A brand is a recognisable symbol and/or name that indicates or communicates a conditioned expectation of predetermined characteristics in the mind of an individual.
What is Brand Equity?
Brand equity is defined as ‘the value a brand adds to a product’. what it means is ‘how strongly you can justify a premium price for an easily substituted price’.
Your business, corporate, and consumer brands need planning, monitoring, and implementing tailored strategies to build brand value so you profit from and protect a sustainable competitive advantage.
What is Brand Loyalty?
Brand loyalty is the quality that gives brands their value. Brand loyalty comes from the buyers’ trust in a brand. The true brand strength is trust because trust means growth potential.
Brand management is much more than just a faithful replication of an image. Brand management is caring for your greatest asset: brand equity!
Read on for decisions to make before you brief a design agency.
The Power of Brand Equity
Strong brand equity is a source of sustainable competitive advantage to the company’s products and services portfolio. It ensures a strategic marketing advantage and represents a long-term investment with high ROI and huge benefits for the company. Corporate brand equity is the recognised corporate identity that communicates your company ideas, values, beliefs, and offering.
Brand Equity vs. Brand Experience vs. Brand Integrity vs. Brand Valence (Attractiveness)
Brand Equity is sometimes misunderstood and redefined as something else. Don’t be confused. Your brand equity has a real, inherent value and is the most valuable asset in your organisation. (In 2015, the Apple brand was valued to be worth US$145B!)
Brand Management Help
Strategy to manage your most valuable assets: your brands and brand equity.
It is prudent business sense to make branding decisions with advice from leading-edge strategy experts who combine market research, strategic marketing models, marketing planning, new product development techniques, strategic marketing, and corporate image issues management to create bullet-proof brand management.
You will enjoy sensible, insightful, and profitable brand management decisions that cover brand portfolio, brand extensions, and other strategic branding issues in which we are qualified and trained to manage.
Leadership Empowerment uses proven methods to assess your brand potential. You will enjoy full marketing assessment, including brand position, sustainability of competitive advantage, market segmentation study, and brand equity optimisation recommendations.
Understanding your brand’s dynamics improves communications efficiency and cost effectiveness, increases sales, and builds a stronger brand.
‘Tactics without strategy is the noise you make before you fail’ Sun Tzu: Art of War
Ask a Leadership Empowerment consultant to develop a Brand Audit and Assessment to suit you.
Proven Brand Management Strategies
What do your brand equity trends indicate? Do you have impending or growing negative brand equity?
It is strategically imperative that you understand the financial impact and contingent scenarios of marketing implementation on your brand/s.
Valuation of brand equity helps establish realistic forecasts, timescales, potential savings, and viable rollout options.
Brand Equity, Rebranding, Brand Image and Brand Positioning
A brand can be a good or a bad thing. it is brand EQUITY that counts. Brand awareness, brand liking, and intention to buy a brand are NOT the same thing.
It is crucial to consider brand equity trends at the planning stage of any rebranding process.
Why invest time and significant costs in brand planning and creative only to find out that the brand has become a liability rather than an asset?
That’s why the Law of Diminishing Brand Loyalty is so important to understand and observe.
Do YOU Have Negative Brand Equity?
Rebranding can be very expensive and often requires high-level management approval. The cost of rebranding, consultants and design versus the cost of ongoing support or relaunch must be carefully considered. You can prosper with insight into the pros and cons and strategic advantage before you make a decision.
Brand Equity Impact Analysis
Knowledge is power. Before you can develop a realistic plan you must first establish what needs to be rebranded and the likely impact on your company in terms of brand equity issues, investment, timelines, and organisational effect.
Ask for a Rebrand Assessment
Turn brand equity into strategic advantage for profitable growth and market share. Create branding strategies that coordinate with corporate marketing and marketing governance
Increase brand loyalty, brand awareness, and brand value: a rebrand assessment will empower you with the best approach to deliver brand consistency within time and cost parameters, revealing brand touch points and determining realistic budgets and workable timelines for phased and full-scope branding implementation.
Brand Positioning and Branding Strategies
Brand proposition can make the difference between success and failure. Building brands is 90% science, 10% art.
To build long term brand legitimacy, you need to:
- Measure brand equity
- Set corporate branding objectives
- Include brand equity plans in your marketing planning
- Consider brand and product portfolio development
- Learn and understand advanced tools for disciplined marketing management
Brand Strategy Tips
- If you rely on market research for your decision making, make sure it is market research you CAN rely on.
- The LAST thing on your list should be to brief a design agency or graphic artist for the logo.
- Logo change should only EVER occur if it will measurably improve brand equity.
- Beware of overextending a brand.
Scientific Strategic Branding (i.e., using university proven methods in Brand Portfolio Strategy, Brand Value Management, Branding Strategy, brand extension, brand image, brand life, brand identity, corporate branding, sensory branding, neuro-marketing) is ideal for major companies, market share leaders and older, established large national and international organisations.
- Changing the corporate brand influences your business as much as changing your business influences your brand.
- Brand loyalty and positioning can create unyielding attitudes and beliefs. Turn these into opportunities with advanced brand equity control.
- Brands have a life cycle. Make the most of this by recognising brand decay before it costs you sales and profits.
- Pre-emptive strategic brand equity management can help you win a huge growth in market share.
Strategic Brand Portfolio Management
Too few organisations take a refined approach to branding and brand management. By appointing a leading-edge brand strategist,= to refine and sophisticate your strategic branding decisions, you can ensure optimal sales results, market share dominance, and profitability. Ask for more information via 02 98011 4355 now.
Branding is Not Logo Design or Imagery—It Is MUCH More
Branding is NOT the domain of a design agency. To increase profits and ROI along the brand existence chain, businesses need to build strategic foundations for brand creation, naming, brand propositions, and brand experiences across all customer touch points.
You should always seek the right advice to help you brief a design agency so they can do something fantastic for you, but the strategy behind your brand calls for different expertise.
Ways to Improve Branding and Marketing Management
There are over 100 pages on this site dealing with everything from distribution strategy and pricing to detailed information on market research, marketing planning, and great advertising.