Marketing 101: Understanding the basics of branding
2018 August 29
IKEA, what comes to mind when you think of the store?
Words like home, quality, furniture, reliable and so on might pop into your mind.
For others, they might elaborate on the idea through a single sentence. For example, ‘IKEA is the best place to purchase quality furniture for your home.’
You see, the words Swedish, multinational or old may never come into your mind. This is because IKEA has set itself as the universal brand for furniture shopping. It is popular enough to summon all the good vibes and homely feelings by just its name.
This is the power of good branding!
What is branding?
Normally when we say ‘brand,’ we are usually referring to the logo or a company’s name. Yet, we know this is not the only furniture retail company in the world. There are a gazillion more brands in existence without the same spotlight and level of brand awareness.
Why are certain brands hard to forget?
Is it a famous brand ambassador? Is it a catchy tagline? Is it an appealing advertisement?
Yes, these variables do count. However, these strategies are not just in the face, slogan or logo. It runs much deeper.
What’s the commonality among the brands we know so well?
You may say they are all different because they have different personalities. So what if superstores like Target, Costco and Walmart offer the same services and sell the same products as their competitors., Not so fast, they each stand for something different. The difference is wholly dependent on their brand image.
In the marketing world, a brand is defined as a ‘set of associations’ that a customer links with your company’s name. These ‘associations’ are not only visual but also emotional and psychological.
This may be why local mom-and-pop brands are beloved by small towns and communities over the high-rated competitors.
Do you now understand what branding is?
If yes, then you won’t be surprised if we tell you how your marketing campaigns rely on branding. This foundation needs to be laid before you start any form of advertising, marketing or product launch.
The basic elements you need to focus on when creating a brand:
- Values your company stands for
- Promises made to customers
- Long-term vision it has set for itself
- Personality, vibe and nature
Overall, the key ingredients of branding all revolve around the way you want to express yourself and the voice you want to keep.
How do you make these choices?
In order to succeed, you need to base your choices on two things:
- What do you have in mind?
- What will appeal to the target audience?
Once you are able to smoothly merge both ideas, then you will be able to create a memorable brand.
This is how you formulate the essence of your company.
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Posted In: Social Media and Digital Marketing