The Benefits of Brand Identity
A brand is nothing but a specific, exclusive, well-known brand name, phrase, design, logo or any other characteristic which identifies one product or service as distinctly different from those of other similar products or services offered by other similar sellers in the market. Brand names are also referred to as brands because the makers of such brands have exerted extra effort and resources for years in order to make their brands stand out from the competing brands in the market. They are brand creators. Brand names have in fact become so popular that they are now the chosen standard for determining the worthiness of a product or service. Companies use brand names in advertising and promotional campaigns to make their products or services better known to the consuming public.
The core values and principles of brand architecture form the foundation of the brand experience. In order to create a brand experience, an ideal mix of attributes is needed from both the creators and the consumers. But then again, the same ideal cannot be found just anywhere. It has to be searched and evaluated from different areas including branding research, brand consultancy, consumer behavior, target marketing and many other areas. The creation of brands is also based on certain assumptions and generalizations about consumers. We will now briefly discuss some of these assumptions and the implications they have for the brand architecture.
Assumptions regarding the level of brand loyalty that consumers attribute to brands range from low to very high. Some assume that brand loyalty is limited to the purchasing habits of a small segment of the population, such as the customers of a particular business. Other assume that brand loyalty is dependent upon the presence of brand icons or symbol. Still other still assume that the brand loyalty level is independent of these factors.
In brand construction, it is important to understand the fact that customer loyalty and brand positioning are not independent concepts. They are intimately connected and dependent on each other. Customer loyalty is dependent upon the perception of value provided by your brand. Brand positioning is based on the value provided by your brand in the customer’s mind. The more valuable your brand is to the customer, the more valuable your brand positioning will be to your business.
A brand can be thought of as a unique, symbolic sign of your business. Just as the name of a particular brand changes its meaning depending on who is saying the name, your brand name will change over time according to who is saying it. This means that your brand needs to be strong, relevant and consistent in order to attract and maintain high levels of loyalty and recognition from your customers. Brand identity is therefore very much an aspect of your brand personality, and it must be constructed on a number of different levels.
Creating a brand identity that is strong and relevant requires a lot of thought and considerable effort. On one hand, this will mean that branding is a long term strategy and one that requires considerable resources in order to implement. It will also mean that the branding strategy adopted must be consistent over time and must be something that you will have a long term commitment to. While the benefits of building strong brand recognition can reap rewards through the purchase of targeted customers and the generation of additional revenue, it can also create significant risks for the brand name and the company. Thus, in order to avoid these risks, and to ensure that your brand name is built on strong foundations of credibility, integrity and relevant personality, you should engage a reliable branding agency that can help you build your brand name into a profitable venture.