Thursday, March 4, 2010

New York Small Business Consulting (to brand or not to brand ? That is the question)

WWW.THEBUSINESSBUILDERS.BIZ
What Is Branding?

Branding is the foundation of marketing and is inseparable from business strategy. It is therefore more than putting a label on a fancy product. Nowadays, a corporation, law firm, country, university, museum, hospital, celebrity, and even you in your career can be considered as a brand.

As such, a brand is a combination of attributes, communicated through a name, or a symbol, that influences a thought-process in the mind of an audience and creates value.

As branding is deeply anchored in psycho-sociology, it takes into account both tangible and intangible attributes, e.g., functional and emotional benefits. Therefore, those attributes compose the beliefs that the brand's audience recalls when they think about the brand in its context.

The value of a brand resides, for the audience, in the promise that the product or service will deliver. Clearly, a brand can recall memories of a bad experience. The value for the audience then would be to avoid purchasing that brand.

From the perspective of the brand's owner, the value of the brand often lies in the security of higher future earnings, but may also be assessed in terms of votes for a politician, career for an executive, foreign direct investments (FDI) for a country, etc.

In conclusion, branding is the blend of art and science that manages associations between a brand and memories in the mind of the brand's audience. It involves focusing resources on selected tangible and intangible attributes to differentiate the brand in an attractive, meaningful and compelling way for the targeted audience.  

Need help with branding fill out the form below


No comments:

Post a Comment

Thank you for your comments

Note: Only a member of this blog may post a comment.