Branding is a popular word in our world today. Whenever you talk about starting a project or launching a platform, service or company, everyone begins to point out the fact that you are trying to build a brand. But then, branding is many things to many people and sadly, they may not be all wrong neither are they right as to what they perceive branding to be.
So, what exactly is branding?
What Branding is
Branding is
Brand Construction (Perception)
A Carefully constructed brand creates a visual, emotional and cultural connection between customers and the company, the product or service and the type of consumer it attracts. For example, Disney has built a strong brand as the family entertainment leader of its industry. the kind of Disney's brand doesn't just happen. It is intentional and requires ongoing hard work and dedication to energetically support the brand. Its marketing materials and messages convey a consistent feeling of family fun and service excellence. As a matter of fact, Disney hires only those who can meet its standards and trains them at Disney University where they learn their roles in order to provide great customer experience.
Brand Equity
For every brand, there is a way customers perceive the value you offer based on their experiences. Brand equity in this sense is similar to a rating based on the perceived value your brand has to offer. It is important because a valuable brand can support higher prices and increase your merit among investors, shareholders and potential buyers
How to Build a Successful Brand
There are four basic steps to building a successful brand.
1. Define how you want to be perceived
2. Organise your business based on this promise
3. Communicate your promise
4. Be consistent