The Basic Models used in Brand + Strategy
A good brand is the result of much planning and concept formation. To come up with innovative marketing strategies and an effective method to brand your items, you must first carefully plan out the steps you need to take. Taking notice of these fundamentals will also help you construct a strong brand that can withstand market changes and competition. Brand models have been created to provide a framework for developing an effective brand that can survive in today's competitive marketplace.
What is a Branding Model?
There are different models that can be used when planning a brand. Each one will look at a different part of the process and help to create a good branding strategy.
Being able to come up with a brand idea is one thing, but understanding how consumers respond to brands is another important part of the process. This information can help business owners adjust old branding strategies or come up with new ones. Models can also help predict how successful a brand might be in the future.
These characteristics are all crucial in brand management and assessment, which are essential phases that every business must go through while developing its branding strategy. These models aren't necessarily directly linked, but they're all related to one another. The 3 models we will discuss are brand positioning, brand resonance, and brand value chain. These models are essential in understanding how customers interact with brands, what they think and feel about them, and how much they're willing to spend on them.
Brand Positioning
The first model is called brand positioning. This model helps businesses understand where their brand falls in relation to their competition. It also takes into account what consumers think about the brand, how they perceive it, and what needs it fulfills. This information is important in shaping the direction of a brand's marketing efforts. You need to create a strong image for your company that will set you apart from the competition. This means creating brands that are superior to your competitors'. Having a good brand strategy will help people remember your products and choose them over others.
There are two main types of positioning: Attribute-based and benefit-based.
Attribute-based positioning focuses on the specific features of a product or service.
Benefit-based positioning, on the other hand, emphasizes the ways in which a product or service can improve the customer's life.
There are also several different models that companies use to approach branding. The most common are the AIDA model, the 4Ps model, and the 7Ps model. Before we get too ahead of ourselves, with analysis' and models, let's look into some steps you can take to identify your brand positioning.
Here are some steps you need to look into:
+ This is when you start to compare your brand to other brands. You need to figure out what makes your brand different from the others.
+ Next, you want to introduce things to your brand that will make it different from the competition. You also need to introduce things that will make people think your brand is high quality.
+ You need to create a slogan for your brand that will remind people of what your brand represents and what it stands for. It's important to have a clear message that will resonate with your customers and make them want to buy from you.
Let's now discuss the next model you can use to begin developing an effective brand strategy for your business.
Brand Resonance
The next stage in the branding process is to safeguard your consumers' loyalty. To do so, you'll need effective customer care service and a feedback system. This strategy develops from the brand positioning concepts outlined at the start. Now that you've identified target clients, your next objective is to develop a connection between them and your company. After all, repeat consumers make up the bulk of corporate sales.
This stage is all about reinforcing the brand's original messages. As a result, your customers will be happy with the level of performance and quality provided by your company. Are you delivering on the promises made by your business's identity and objectives? Consider how you might strengthen your consumer relationship based on their comments about your product.
There are three essential methods to this strategy:
1. Brand recognition - customers should be able to identify your products or services among others in the market.
2. A positive association - customers should have a favorable opinion of your company.
3. Brand loyalty - customers should be willing to purchase from you again.
Brand Value Chain
The third model to utilize when building your brand strategy is the brand value chain model. The brand value chain model was created by Michael Porter and is used to evaluate the relative strengths of a company's brand.
The model looks at the five core areas of a business:
1. R&D - Research and development is the process of creating new products or services.
2. Design and engineering - This is the process of creating plans for a new product or service.
3. Production - This is the process of actually manufacturing the product or service.
4. Marketing and Sales - This is the process of selling the product or service to customers.
5. Customer support - This is the process of providing customer service after the sale.
The brand value chain model can be used to help you identify the financial value of your branding efforts. The fundamental concept of this method is that the brand's value resides in its consumers, so you should concentrate most of your branding efforts there.
There are four key brand milestones that also depend on the brand value chain model.
1. Consumer brand loyalty - This is the level of customer loyalty to your brand.
2. Brand awareness - This is the level of customer awareness of your brand.
3. Brand image - This is the level of customer perception of your brand.
4. Brand equity - This is the financial value of your brand.
The basic idea behind this model is that the higher each of these levels is, the more valuable your brand will be. Therefore, you should focus your branding efforts on increasing consumer loyalty, awareness, and perception.
By using these different models, a company can get a good overview of the different aspects of building a successful brand strategy for their business. Even prior to "branding" their brand assets and marketing materials. By incorporating all these branding steps, you can easily detect problems with your current branding or track potential problems with any branding ideas you may be working on.
