Branding is a value proposition
Branding represents the intangible part of your business. Products are tangible.
They’re made in factories and stored in warehouses; they’re things you can hold
in your hand. A brand, by contrast, is a collection of intangibles – ideas, feelings
and word associations. These intangibles reside in your mind.
A brand must stand for something larger than just a product benefit.
It
represents a value proposition. Consumers choose one particular brand over
another because of this intrinsic value.
Because it incorporates the customer’s viewpoint, a “brand promise” differs
from a mission or vision statement. It must focus on answering three questions:
- What business is our brand in?
- What differentiates our products and services from those of our competitors?
- What is superior about the value we offer our customers?
Branding serves as the link between your product’s promise and the consumer’s
desire. The goal is to express a set of basic principles that can be understood by
everyone who comes into contact with your business – customers, shareholders,
employees, etc. The brand is your reason for being.
A “brand blueprint” consists of five basic components:
- Brand name: A name that is unique, memorable, distinctive.
- Graphic representation: An icon, symbol or image that vividly expresses
your brand’s identity.
- Byline: A descriptive word or phrase that tells consumers where to place
your brand in their mind’s eye, and that always appears with the brand.
- Tagline: The message that expresses your product’s functional and
emotional benefits to consumers.
- Brand story: When you identify your brand, be sure to communicate and
preserve its heritage.
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