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.
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.
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…