the strategy behind branding in an international market
Table of Contents
Look towards the future5
Any product has the potential to be a brand.5
A great brand knows what it stands for6
Raising the bar when branding6
Tapping into the emotional experience6
A global brand needs to be consistent7
A great brand is not one-dimensional7
Branding across cultures7
Walking through a store with over a thousand similar products people have to choose one or two. If over 90% of those products have names that people are not familiar with will they buy those products over other known brand names? Despite the fact that most of those products are probably very good, most people tend to go with the ones they know.
Every day people are hit with approximately 5000 images or brand names. In the evening when we are about to go to sleep we might wonder how many actually had a lasting impact on us. The answer is that only 3 to 7 of those images stay with us. So which ones create a greater impact than others, and how much power lies in having a strong brand name for your product. This report will look closer into the history of branding as well as the steps used in creating a strong brand. What are the issues involved in the creating process and once established what is needed in order to keep your brand awareness strong for the long haul.
Despite the fact that most people think of branding as a rather new concept in an ever-growing market, branding can be dated centuries back. In modern time it is not only products that are being branded. Companies, Universities and even people brand themselves. Jennifer Lopez is an excellent example of a person branding herself. Her name does not only sell music albums, but also clothing lines, perfumes and a range of other items associated with her name. She has truly made her name into a brand well known all over the world (BrandingStrategyInsider.com). Ultimately brands are created to insure honesty, provide quality, to differentiate from others and to create an emotional connection between buyer and product. In order to truly understand where branding comes from it is important to go back in time Going back in time there are records of tobacco and medicine companies branding their products in the early 1800s. The literal meaning of the word branding, stems from the time where criminals were literally branded, as a form of punishment and identification. The Nazis branded the Jews in form of tattoos, in France a fleur de lis was branded on a persons shoulder and slaves were branded to show ownership. Branding does however go even further back in time. In China ca.1300 BC, porcelain and pottery was marked or “branded”. The same goes for a lot of art and craft from Greece and Italy to name a few. Archaeologists have even found evidence of branding that dates back three to five thousand years BC (BrandingStrategyInsider.com). Branding
Before going through the eight steps of the branding strategy it is important to understand the utmost fundamental issues regarding branding such as: Identification, Selection, Communication and Differentiation.
Identification is crucial for branding. Without this the process of relationship between seller and buyer cannot begin. The way to indentify a product is through the marketing mix, which may be different for products but the key here is to make sure that the focus is there all the time, all year round (Judd associates.com). Selection
Selection can only take place after a product has been identified in order for the consumer to select the brand. A...