Branding
Creating a brand use to be as simple as coming up with a catchy slogan or a distinct logo. The American Marketing Association defines a brand as “a name, term, sign, symbol, or design, or a combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate them from those of competitors.”(Koetler 2012) Over time though, branding has emerged into a complete science starting from how a company creates and delivers a promise to the way that promise is perceived and received by the public.(Knapp) I wholly agree that successful brands are built on successful products. Any company can create a product or service but not all can stand the test of time, differentiate themselves from competition in the market and be considered a top player in their industry.
When you think about the most successful brands in the world today it’s hard to imagine a society without their products. No matter how great a company one may think they are if they are not delivering the product or service that the consumer wants on a consistent and long-term basis then their success will be short-lived. And vice-versa, no matter how great a concept or product a company produces if its reputation, its customer experience, or its branding is lacking then the product can never be successful either. The products only job is to tell the customers “what” is that you are offering. But the branding is what connects your customer to the product and tells why you are different and better than the competition. (Reed, 2010) If we take the top brands from around the world regardless of the industry, the service, or the product the science of successful branding is always consistent. For instance, Coca-Cola is arguably one of the most recognized brands throughout the world. But, why? Because Coca-Cola has created a brand promise of fun, freedom, and refreshment that resonates with customers nearly everywhere. Some will say it’s the flavor, but for millions,
When you think about the most successful brands in the world today it’s hard to imagine a society without their products. No matter how great a company one may think they are if they are not delivering the product or service that the consumer wants on a consistent and long-term basis then their success will be short-lived. And vice-versa, no matter how great a concept or product a company produces if its reputation, its customer experience, or its branding is lacking then the product can never be successful either. The products only job is to tell the customers “what” is that you are offering. But the branding is what connects your customer to the product and tells why you are different and better than the competition. (Reed, 2010) If we take the top brands from around the world regardless of the industry, the service, or the product the science of successful branding is always consistent. For instance, Coca-Cola is arguably one of the most recognized brands throughout the world. But, why? Because Coca-Cola has created a brand promise of fun, freedom, and refreshment that resonates with customers nearly everywhere. Some will say it’s the flavor, but for millions,
References: Cramer, B. (2013) Three Products That Failed Even Before They Launched. Retrieved from http://www.bidnessetc.com/business/three-products-that-failed-even-before-they-launched/ Knapp, D. Retrieved from http://www.duaneeknapp.com/videos and http://www.traveltalkmedia.com/archives_sep21_08.html#1007 Kotler & Keller. (2012) Marketing Management. Prentice Hall, 14th Edition. Reed, N. (2010) Why Famous Brands Fail Retrieved from http://www.logoblog.org/famous-brands-failure/ Smith, D. (2013) 5 Attributes of a Successful Brand Retrieved from : http://www.envision-creative.com/5-attributes-of-a-successful-brand/#sthash.I28Vu34O.dpuf Interbrand. (2014) Retrieved from: (http://www.interbrand.com/en/best-global-brands/2012/Coca-Cola Knapp, D. Retrieved from http://www.duaneeknapp.com/videos