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What is a Brand? Five Factors that Determine a Brand

   
 
 
When establishing a company brand it is always important to take into consideration what your brand means to you , and subsequently what you would want your brand to mean to those who purvey it.

Take into consideration what the product or service is that you are offering, take a step back and contemplate why you as a brand in your particular market stands out from the rest, and why consumers should choose your brand over and above other brands. These reasons will be the fundamental concepts that you can build your company's brand on.
 

Brand Promise

 
What do you promise clients that will keep them coming back to you? What do you guarantee will be the benefit of joining your client base as a consumer? It is important to consider what brand promise sets your brand apart from other brands making it 'the one' that the consumer market will choose and want to be associated with.

Consider your slogan; make your promise for brand excellence a bold statement that will set your brand apart from the rest. A brand is, in essence, a promise to its customers.

Example: Think about your favourite brand and what that brand promises to you. If you’re a Nike fan, the brand might represent athleticism, performance, strength, good health, and fun. Your brand promises something to consumers. What is it?
 

Brand Perception

 
Your brand perception is vital to the success of your business. First impressions count. Every impression counts. Ensure that your clientele purvey you as a strong, stable brand that sincerely cares about its customers. Your logo, slogan and mission statement go a long way in showcasing this information, and your fulfillment of brand promises will endorse your brand. Your brand should be powerful in its corporate imagery of the product or service that you provide, and there should be no doubt that your brand is unequaled.

Example: What are consumers’ perceptions of Lady Gaga? You can bet everything she does is meant to create specific consumer perceptions.
 

Brand Expectation

 
Customers expect only the best so you to deliver only the best. Aspire to be dominant as a business, and your customers believe that you are. Your brand should be able to converse the point-of-sale services that your brand offers, and obligate those expectations to the client. Keeping your brand "fresh", up-to-date and competitive is vital. Having said this, a well-established company with an existing reputation for good service should also make sure that these values are not lost in the flurry to "keep up" with the competition. Knowing exactly what your brand offers and who to creates expectations within that community.

Example: Imagine Porsche launched a R 100,000 car. To say the least, consumers would be extremely confused because such a product doesn’t meet their expectations for a luxury brand.
 

Brand Persona

 
Your brand persona is your unique company "personality". Your personal attributes will add considerably to the establishment of your brand, and will allow customers to relate to your brand on a personal level. Rather than asking, “What is a brand?” a better question might be, “ Who is a brand ?” Every brand has a persona. Think of your brand as a person. What is that person like? What can you expect when you interact with that person? From appearance to personality and everything in between, your brand persona is one that consumers will evaluate and judge before they do business with you.

Example: Think of it this way. Who would you rather spend time with — Apple or Microsoft? These two brands have very different brand personas. Your brand should have one, too.
 

Brand Elements

 
Your brand elements are what build the foundation for your company's corporate image. Creating a successful brand is achievable if you remember these three steps: Make it memorable, make it meaningful, and keep it consistent.
Make it memorable - Your brand should give a positive, lasting impression to anyone who interacts with it. Apart from outstanding service, your brand can be made memorable through its imagery and its messaging.
Make it meaningful - While it's important to make your brand recognisable and memorable, it means nothing if potential customers don’t remember or know what you do.
Keep it consistent - This is one of the most important aspects and it is one that many companies do not realise the value in doing. Often companies will vary their branding in an attempt to "keep things interesting"; however, this often actually detracts from the consistency of the brand, making it difficult for loyal customers to remain connected to it.

Example: There is a reason why Ferrari‘s rearing stallion has been around for so long. It means something to consumers. Remember GAP?
 
Above all, creating and establishing a powerful corporate identity is essential to the creation of a successful brand.
 
Contact Wrappa today to help you get started on making your brand a success!