Content
- What is a brand?
- Types of brands
- Value of a brand
- How to create a brand
- Brand promotion
- Monitoring results
What is a brand?
A brand is a combination of unique characteristics that distinguish a company from other organizations. Often, a brand refers to a company whose symbols and products are easily recognizable by a wide audience. This sets it apart from an ordinary trademark.
Key elements of a brand include its name, logo, slogan, corporate font, and other distinctive features that make the company unique and easily recognizable to consumers. The brand also encompasses the overall image of the organization, which is formed in people's minds and includes emotions and associations related to the company and its products. An example of such a brand is the Apple logo in the form of a bitten apple, which has become one of the most recognizable symbols in the world.
Types of brands
Brands can be classified into several types:
- Product brand: Related to the production and sale of goods (e.g., Lipton tea, BMW cars).
- Service brand: Companies that provide services (e.g., Sberbank, S7 Airlines).
- Organization brand: Recognizable names of various commercial and non-commercial organizations (e.g., Moscow State University, UEFA).
- Personal brand: If your name is associated with your profession and values, you have built a personal brand.
- Event brand: Names of major events (e.g., Olympic Games, Cannes Film Festival).
- Territorial brand: Popular tourist destinations and regions (e.g., Maldives, Saint Petersburg).
Kazan, for example, is actively working on creating its own brand to attract tourists and investments.
Value of a brand
Brand recognition is key to a successful business. A well-formed image of a company can:
- Increase customer trust: Consumers are more likely to choose products from well-known companies, making their choice easier.
- Add prestige: Established brands are perceived as quality guarantees, allowing them to set higher prices.
- Increase profits: Branded products typically cost more and are valued higher than similar products from less well-known brands.
- Form a professional team: Well-known companies attract talented specialists who want to work for a prestigious organization.
- Optimize advertising costs: As brand recognition grows, advertising expenses can be reduced.
- Expand the product range: Brands find it easier to introduce new products as customers already trust the company.
Thus, having a strong brand contributes not only to increased sales but also to the development of the business itself.
How to create a brand
Creating a brand is a complex and multi-step process that requires careful consideration. The main stages to consider include:
- Define goals: Ask yourself what you want to achieve with your brand.
- Analyze the market: Investigate the state of your industry and determine how your company fits into the market.
- Study the target audience: Understand who your potential customers are and what their needs are.
- Develop a brand concept: Define the key values and meanings you want to convey.
- Create unique features: Find what distinguishes your company from competitors.
- Prepare a brand book: A document that combines all elements of your brand.
Brand promotion
Brand promotion is an important stage that allows you to make yourself known to a wide audience and increase recognition. Promotion methods can vary:
- Offline: Organizing events, outdoor advertising, publications in the media.
- Online: Creating a website, working with social media, targeted advertising, PR publications.
Monitoring results
Constant monitoring of brand performance allows you to identify its strengths and weaknesses. This includes analysis of costs, product demand, and calculation of key performance indicators. The approach to creating and promoting a brand requires time and resources, so it is better to entrust this process to professionals.