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Why Are Some Brands More Successful Than Others?

by GBAF mag

What exactly is Brand Strategy? Brand strategy is an overall approach that encompasses certain, long term goals which can only be attained with the improvement of a business’s character – the combined elements of your business’s personality that make it uniquely yours. These elements are the reputation of the brand, the quality or value that the brand provides to customers, and the level of loyalty they have towards your brand. As part of this process, we also talk about the brand image or the “look and feel” associated with it. Within the larger framework of the brand strategy process we talk about the factors that affect the creation of the brand, and how these factors can be optimized through execution of the brand strategy.

Instincts – The brand in the target audience’s mind is associated with what they already know or like about you and/or the products and services that you offer. This is the first instinct that people have when they encounter your brand. So if your brand instills trust and credibility with customers, they are more likely to take a positive action to get your product or service. In this sense, the brand becomes the instant catalyst that ignites the consumer’s desire to acquire and experience your product or service. If your brand doesn’t provide a sufficient level of trust and credibility, your brand could end up being perceived as “lesser” by your target audience.

History and Tradition – Old Spice is the best example of brand equity. The brand has a long history and longevity, which is something that brand equity cannot be achieved over a short period of time. The brand in Old Spice is recognized as a brand that is associated with professionalism, value, and excellence. In addition, Old Spice is also associated with “back pack” appeal and being able to accomplish something in the “known world”. The combination of these three aspects gives Old Spice a clear edge over competitors that do not have such established reputations.

Brand Equity – Facebook is another good example of a brand being associated with many different purposes. When Facebook was first introduced, it was strictly for the purpose of socializing. However, over time, the company realized that by providing additional capabilities and features, it would attract more users who were looking for a way to make money online. In fact, the vast majority of Facebook users are interested in making money. As a result, the brand equity associated with Facebook is tremendous.

Loyalty – Zappos is another brand that is associated with providing great customer service. The fact that the company provides a unique and affordable product line makes Zappos one of the best examples of brands that are associated with providing quality customer service. One reason why Zappos is so loyal to its customers is because it offers more than one payment option, which allows the company to gain more revenue. In fact, a lot of its customers prefer to pay through the Zappos site versus using credit cards or Pay Pal because they feel that the payment options are safe and secure with Zappos.

Brand Building – While loyalty is an important part of any brand and is certainly associated with a lot of successful brands, there is also the matter of building a brand from the ground up. In this case, the brand needs to be positioned correctly so that people know what it stands for. For instance, Disney knows that its main objective is to provide children with entertainment and educational experiences. Therefore, when creating a brand strategy, a company should consider positioning their brand so that people know what it stands for and are drawn to it.

Target Audience Awareness – The brand purpose is extremely important but it is equally important to ensure that the audience is aware of the brand purpose. This means drawing the attention of the audience. This requires research as well as an understanding of how to reach out to the audience. An effective brand can draw in an audience with ease, but a poorly targeted audience will be even more difficult to reel in.

Brand Loyalty – One of the great examples of successful brand names is coca-cola. The brand name is extremely recognisable and has a huge following. The brand stands out and is associated with the class. Coca-cola is a brand that commands respect, which makes it difficult for others to achieve. It is also a brand with a reputation for quality and it comes at little cost.

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