Branding itself is a way to build an important company asset, which is a good reputation. Whether a company has no reputation, or a less than stellar reputation, branding can help change that. Branding can build an expectation about the company services or products, and can encourage the company to maintain that expectation, or exceed them, bringing better products and services to the market place.
There are basic models utilized in the process of brand planning. Each of them will cover different scopes and aspects of the process to create a sound branding strategy. Aside from the ability to postulate methods for arriving at a specific brand idea, these models will also help businessmen understand the behavior of consumers in terms of their responses to a brand, which is helpful in adjusting old branding strategies or acquiring new ones. This write up will focus on two basic models of brand planning.
These features are key in managing and reviewing brands, which are necessary steps that must be taken by any company in their branding efforts. These models are not directly linked but one does impact another.
Brand Placement
This model takes into consideration your effort to create an image that will have its distinct position in the market. Firmly establishing your brand will assist your target market to easily remember and opt for your line of products. This is one aspect of your brand planning wherein you must focus on creating superior brands that will eliminate your competition. Here are steps you need to look into:
This is the first step wherein you begin to identify other brands you are competing against. Then, define the parameters of your own brand against your competition. This will enable you to focus your efforts.
Secondly, your objective is to introduce attributes to your brand that will enable it to stand out from competition. You must also introduce elements into your brand that will produce in the mind of your consumers or target market the perceived quality of your brand.
And finally, you must establish a slogan for your brand that will aim to reaffirm the position and values of your brand. It aims to articulate the message of the brand and what it promises to deliver to the consumers.
Brand Value Chain
This model is more focused on the financial impact of your branding efforts. The basic idea of this model is that the value of the brand consist in the customers, so that is where you should be focusing most of your brand planning strategies on. To be above your competitors in branding you must pay attention to the needs and wants of your customers and prospects. You do this by integrating your brand strategies through your company at every point of public contact.
