Building a brand is more than just fixing a catchy name on a product. Brand
is all about relationships—it is how customers feel about your product.
That feeling will either incline them to use your product or pass it by
for something else. What control does a marketer have over the minds
and hearts of buyers? Marketing authority David Jobber has identified
seven factors in building a successful brand.
While a seller
cannot create the public’s perception of their product, the seller must
influence opinion using strategic suggestions. This is called
positioning, and to do it properly the seller must first identify the
advantages of using the product or service. These benefits must align
with the customer’s needs, wants, and desires.
If you are lucky
enough to be the first on the market to offer a particular product or
service you may have an advantage—initially. If your product is
successful you can be sure competition will arrive shortly; however, it
is possible for the first successful brand to create a clear position
in the minds of customers before the competition enters the market.
Whether or not your product is the first of its kind, your first
challenge is to establish credibility. Consumers must take your product
seriously if they are to develop trust and loyalty to your brand.
Of
course, before customers will buy a product, they must know about it.
Communications play a critical role in building brand. Initial effort
will focus on building brand awareness. As awareness increases, brand
personality will be important to develop. Reinforcing position will be
an on-going challenge.
This is where the next factor of
brand-building comes into play. No amount of hustling can cover for
quality. Statistically, higher quality brands always outplay their
inferior counterparts in the marketing arena. Part of building a brand
is communicating to consumers the benefits of using your brand—and
consistently delivering on that promise.
Brand values must be
understood and accepted internally as well as externally. This means
that brand building involves a certain amount of internal marketing and
training, so that any face-to-face contact customers have with the
product is consistent and positive.
Even with the best of
marketing, brand loyalty takes time to secure. Therefore, a long-term
perspective is required when investing in a brand. Initially building
up the brand will be an expense. Any business venture is a risk. If
there comes a time when a brand has become tired or its market has gone
into decline, the business may need to work at repositioning the
product to reflect the change in consumers taste. Repositioning is an
important, and none too easy factor, in brand building.
These
seven factors: positioning, credibility, communications, quality,
internal marketing, long-term perspective, and repositioning, are
critical to building brand value. A proper marketing plan will address
each factor. In addition, the marketing strategy should be evaluated
and updated at regular intervals.