Brand Story

Brand Story

Every brand has a story.  It helps the customer know what business it is and what field it active is. 

Brand story is important because it drives the customer’s actions. If a customer like your brand story which talks about your company that is clear, compelling and differentiating, he or she will be more likely to buy from you, pay more to you.  Otherwise, if the brand story is not very clear, compelling or differentiated, the company will not realize all of the potential that is possible with the customers.

The story of brand name is important factor in the relationship with customers.  It enhances the level of awareness and the consideration. This is motivating the repeated cycle of growth and profitable.

Personally, if I want to buy a car, the safety issue will be the first issue on my mind.  Volvo is a good choice.  For many years, Volvo supports the story which is you should feel safe sitting in a Volvo.  There is emotional connection between a customer and a product.  For Volvo, it will be safety. 

Brand Extension

Brand Extension

Multiproduct branding strategy whereby a firm markets one or more new products under an already established and well known brand name. The objective is to serve different customer needs or market segments while taking advantage of the widespread name recognition of the original brand.

http://www.businessdictionary.com/definition/line-extension.html

Today I bought a gift for my friend’s birthday from Fruits & Passion.  I am not loyalty customer for this brand, but I have already purchased a few products.  When I was choosing what I wanted to buy, I found out they did some brand extension to their products.  I bought a bottle of perfume from here before, now they have the hand lotion, bath foam, and shower gel with the same scent.  I was surprised to see that and I found it interesting too because I can combine them and make them to be a nice set of gift.

The use of same brand on existing product for a new product in different category increases rate of new acceptance and purchase intention to consumers.

There are certain advantages of brand extension. 

It can increase the brand image and the risk perceived by the customers will reduce.  It can make the acceptance of new product easily.

Brand Positioning

Brand positioning is a very important part of any company or business. It is the way a brand is going to place itself among all the other competitors in its market. By distinguishing one brand differently from another one, they can create a more top-of-mind reaction among consumers. There are very many examples of this throughout advertising and business, from Subway to Wendie's, and Apple to PC. 

A branding strategy can be one of the best tools a company can forge for itself; creating a niche for it's name or product/service while building a stable reputation at the same time. Quoted by distility.com, they explain the branding process to be constructed of five key steps: the target audience, their needs, frame of reference, point of difference, and reasons to believe. These key steps and understanding their fundamentals of how they work together is one of the best assets in creating a brand's position.

This all makes sense if you actually think about it - understanding your key target audience and exactly what they need and want with your brand, creating a reference point to where consumers can relate to your brand, then creating a understandable difference between you and your competitor while giving the consumer the proof they need to believe that your benefits are legit. These are what make the basis of any and almost all brands and their success.

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Subway was the fresher, healthier choice.

Apple was the computer for anyone and everyone.

Dove was the better-for-your-skin, more natural approach to being clean.

These are things that distinguish brands away from other ones, creating a difference between you and all the other you's that are out there in the market.

Brand Personality

Brand Personality

A set of human characteristics that are attributed to a brand name. A brand personality is something to which the consumer can relate, and an effective brand will increase its brand equity by having a consistent set of traits. This is the added-value that a brand gains, aside from its functional benefits. There are five main types of brand personalities: excitement, sincerity, ruggedness, competence and sophistication.

http://www.investopedia.com/terms/b/brand-personality.asp

Each brand has its own brand personality.  There are different kinds brand personalities, which can roughly be classified into excitement, sincerity, ruggedness, competence and sophistication.

I talked about brand loyalty for Apple Company in my previous blog.  Apple can be considered as a businessman, but instead of wearing everyday suit, he will choose more fashionable leisure suit.  I would put Apple Company in the category of excitement because it is spirited and youthful. 

Nike Company has a ruggedness brand personality.  I see it as a middle-aged athletic person who likes doing outdoor activities which some is rough and tough. 

Chanel Company designs, manufactures, and retail fashion and beauty products as well as other accessories.  It has a sophistication brand personality.  Chanel can be considered as a middle-aged elegant, prestigious and pretentious woman.

Brand Loyalty

Brand Loyalty

A lot of people are brand loyalty for Apple products, especially for younger generations.  I am also one of them.  I love how every apple product is designed, from Ipod Nano to Ipad.  They are fashionable, elegant and attractive.

Brand loyalty is a relation of trust between the customer and the brand.  They become repeatedly purchasing the same products from the same brand. 

To me, if Apple Company changes their strategy or change their advertising agency, I will still buy their products, because Apple is deeply ingrained in my mind.

There are a lot of reasons why Apple can build good customer loyalty.  For example, they have good communication with customers.  As a brand loyalty customer for Apple, I get an email newsletter when there is a new Apple product or update.  They have good customer service.  Once my Iphone got some problems, I called technical support and they talked to me with a lot of patient although the phone call is about an hour.

Brand loyalty is the customer’s conscious or unconscious decision, and to purchase the same brand continuously.  It occurs because the consumer perceives that the brand offers the right products, including the quality, price, design, etc.

Welcome to my branding blog!

Welcome to my branding blog!

Branding forces management to articulate, plan and manage what they want the brand to achieve for the organization over the next 3-5 years, relative to customers growth, revenue and profit contributions.  This is why we should love branding.
Through my blog, I will be talking about some brand topics such as brand loyalty and brand personality. 
I hope you will enjoy it.