Brand is everything
A successful brand is an identifiable product, service, person our place, augmented in such a way that the buyer or user perceives relevant, unique, sustainable added values, which match their needs most closely. (De Chernatory and Mc Donald,1988)
A brand is highly powerful tool, because I tprovides a balance of functional benefits and performance values. The term branch is used to describe the personality of a particular company’s products. The brand concerns use of design, color, typography, the quality that brand portrays and the actual identity of a product or service as the customer sees it. The brand is not just a name, the brand is a multifunctional concept.
There are many well_ known brands throughout the various segments that have built up reputations as providers of good quality produce or services. For example, Nokia, Coca _ Cola, Nike, Reebook, BMW are well known brands or reputable quality.
Branding is of primary importance to the organization, as it provides the organization and its product portfolio with an identity, something that people can associatewith. It essentially the key to successfully diffentiating the organization and its products from the competion. However, to develop a successful brand will require a considerable investment in both time and money, an investment, which if properly planned and managed, should reap significant rewards.
The brand plays a number of roles from an input perspective, output perspective and tieperspective. Brands are complex, but ultimately they rest in the minds of customers as a basis on which to identify with a product, quality and image that is portrayed.
These points realistically need little explanation. However, it is essential that you are aware that the input perspective relates to everything that is put into the brand to actually make it a brand and, from the perspective ofthe organization, what are the inputs that make the brand successful. This means the way in which the brand is managed, i.e, the resources required to ensure that the brand is of significant value, both rationally and emotionally, to the customer.
From an external perspective, the brand will be perceived and interpreted by the customer: how it impacts upon the customer, motivates them, fulfilsthem and actually achieves some purpose for them.
Time based is something of a radical component in branding. How long is a piece of string, some might say, but it is indeed an important factor. It may appear that some brands, such as Ford for example, might go on into perpetuity. However, this would be a complacent and dangerous strategy to follow, one with likely catastrophic results.BRAND VALUES
Brand values are often difficult to define. However, they represent KSF o the organization and its products. Rokeach (1973), in the Nature of Human Values, suggested that:
A value is an enduring belief that a specific mode of conduct or end_state of existence is personally or socially preferable to anopposite or converse mode of conduct or end state existence.
Values are essential in any organization, both from the internal perspective, where values will define the basis on which the organization does business, but also from the external perspective, where values essentially become meaningful and often the source of “added value”. For example where quality is a value, quality is aperspective benefit to the customer.
Brand values, therefore, become the basis of an organization being perceived as different. However, while they might form the basis of differentiation, the organization must be clear as to why they arrived at these values in the first place, and what they might mean to the future vision of the business.
As a customer it is likely that you will be drawn...