Do you think you really understand brands? Can you explain what a brand is to people who want to know? Can you explain what brand equity is? Can you describe how to measure brand equity? Do you consider yourself a brand management expert? Do you know what brand elements are the most important to manage? Can you articulate your brand's strengths and weaknesses?
Here is a list of the 25 things marketers should know about brands:
- Brands are the personifications of organizations and their products and services.
- Brands should stand for something.
- Brands should have unique value propositions.
- Brand should promise relevant differentiated benefits or shared values.
- Brands should focus on emotional, experiential or self-expressive benefits more than functional benefits.
- Brands need to consistently deliver on their promises.
- You should have determined your brand's archetype, that is, what motivates your brand.
- Brands should have carefully crafted personalities.
- Brands should tell emotionally compelling stories.
- Brands should have unique identity systems including names, tag lines icons, type fonts, colors, patterns, tastes, scents, sounds, textures and voices.
- The best brand names imply a powerful customer benefit.
- The best names are short, easy to pronounce, easy to spell, easy to remember and significantly different from the names of other brands in the same categories.
- Every brand should have its elevator speech.
- Brands can dance between consistency (to build recognition and recall) and sponteneity (to surprise and delight).
- Brands need to be trustworthy.
- Ideally, brands are innovative.
- Brands perform the best if they are supported by quality products backed by exceptional service.
- People appreciate responsive brands.
- Aesthetically pleasing brands usually command price premiums.
- Brands can extend businesses beyond limited product categories.
- Brands need to be actively managed.
- To be actively managed, brands require their own metrics.
- Typical brand metrics include unaided awareness, attitudinal loyalty, distribution, market share/share of requirements, reduced price sensitivity and customer advocacy.
- It is acceptable to refresh brands every few years as long as their core associations are not obscured in the process.
- Proactive publicity is a great way to grow brands.
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