Creating Powerful Brands
What Is A brand?
Put simply, a brand is the difference between a bottle of sugared water, flavored, carbonated, water and a bottle of Coca-Cola. It is the sum of the functional and emotional characteristics, both tangible and intangible, that a consumer attributes to a product or service.
Some things to consider:
A brand is defined as the sum of the functional and emotional characteristics that a consumer attributes to a product or service.
Brands are important both to companies, as a source of competitive advantage, and to consumers, as an aid in making purchase decisions.
A critical factor in creating powerful brands is a company’s ability to differentiate the product and/or service elements of its offerings from those of its competitors.
Key building blocks in the creation of a brand are brand proposition, brand positioning, and brand identity.
Brand managers have a number of tools at their disposal, including product design, packaging, and advertising.
It is important for companies to track their brand equity over time, particularly brand awareness and brand image measures.
The internet represents a powerful new medium for creating brands, but it’s also encouraging consumers to demand a two-way dialog with brand owners.
Stobart, P. (2006). Business the Ultimate Resource, p. 77