Understand the terms marketers use when discussing brands. These will not only teach you the language but give you a better perspective on brand marketing.
Diamonds and Ferrari’s. Goods and brands that cannot seem to charge enough to lower demand. I was taught the law of demand when I went took economics at Carleton University. If something can be made cheaper, then people will buy more of it. If the price is raised, then people Read more…
Defining Endorsement Marketing and a guide to when / how to use endorsements to build your brand. Endorsements are a large part of marketing. Purportedly 28% of Nike’s enormous marketing budget goes to athletes to secure their endorsements. We see famous faces on the ads and packaging from everything from Read more…
A vertical branding strategy pushes for objectively better products, while horizontal branding strategy is okay with being different. When I do brand strategy consulting, I often hear from the business owners and executives talk about the measures on which their product is the best in the marketplace. Having the best Read more…
When a customer sees a brand, it is meaningful because of the promise that is implied. If I see Starbucks on a building, I am promised that great coffee and a cozy environment is inside. A brand promise is not a tag line or value proposition. We show you how to write a brand promise statement and show you examples from big brands.
More than the sum of their parts; brands can collaborate for great success (or disaster!) Co-branding can be great when two brands come together to make a product that neither brand would be able to pull off alone. But they fail when the new product is out of the scope of what customers could reasonably expect from the brand.
The effect of branding is powerful, or nearly every company would not feel the need to have a name and a logo. The power of branding is to influence actions; a strong brand can lubricate the process of asking for purchases, likes, shares, donations, or whatever action a business desires. This is because of our subconscious ability to gather reputations.
An inside look the deals between manufacturers and retailers involving brands. Private labels have been a constant part of my decade of experience in retail marketing. Most of the brands I worked with were all owned by manufacturers and some were owned by distributors. The manufacturers were making, marketing, and Read more…
It helps when naming your business if you know the types of brand names. All of the 300+ million company names fall into one of these categories 7 categories: eponymous, descriptive, acronymic, suggestive, associative, non-English and abstract. We talk about 77 real world examples.
Rebranding is changing a brand’s name, logo, or a structural change in the brand identity. Rebranding is corrective; the only reason to rebrand is to solve a problem. A substantially new brand identity allows new opinions to form.
Peer influence is how the behavior of the people around us impacts our own behavior. When it comes to marketing, purchasing is the behaviour that marketers try to influence, as well as the actual use of the product. Therefore peer influence in marketing is how the behavior of others influences our likelihood to buy and use a product.