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.
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.
Brand associations are the mental connections between a brand and people, places, things, and emotions. These associations may turn people to or away from your brand. Being mindful and strategic about them will build brand equity efficiently.
Intermediation, or letting other businesses get in the way of customers, can build a brand but put it in a poor strategic position. Executive Summary | Abstract | TL;DR A middleman or intermediary is an individual or company with a business interest in staying between one company and its customer. Read more…
A vertical branding strategy strives for better products, while horizontal branding strategy pushes for different. Executive Summary | Abstract | TL;DR Vertical branding is when a company differentiates itself as “better” on an objective scale like miles-per-gallon, megapixels, etc. For example, Hyundai chose a vertical brand strategy for its IONIQ Read more…
Brand marketing is an approach to communications, sales, product, and service that grows the asset of brand equity. You may be asking: The idea that every company needs a logo is nearly universal. The logo is close to the first thing on the to-do list for an entrepreneur. But have Read more…
The definition of brand identity (or corporate identity): the collection of designs that represent an organization to customers. You may be asking: Brand Identity is what designers contribute to the brand. As long as there have been marketplaces to sell goods, there has been a need differentiate offerings from other Read more…
Negative Brand Equity Let’s get theoretical. Brand equity means the monetary value of a brand. Brand equity breaks down into brand awareness (how many people know about a brand) and brand depth (how valuable those people are to the organization.) These numbers multiply together, so if one were negative, the Read more…
Brand Awareness definition noun. 1. the number of people who know about an organization, person, product or concept. “the brand awareness of Coca-cola is high; you would be hard-pressed to find a person who has never heard of Coke.” What is Brand Awareness? Brand awareness is the number of Read more…