Understanding The Branding Game
Branding terminology is a language unto itself. To get a feel for the complexities, just type “branding terms” into your favourite Internet search engine. We did that recently and got a whopping 12 million results! Assuming that you’d rather focus on key phrases instead of the full foreign language of branding, check out this need-to-know list of terms:
Brand: A promise about who you are and what benefits you deliver that gets reinforced every time people come in contact with any facet of you or your business
Brand identity: The marks that visually present you, usually in the form of a logo, symbol, or a unique type style
Brand image: The set of beliefs about what your company is and what it stands for that exists in the customer’s mind as a result of associations with you and your name
Branding: The process of building a positive collection of perceptions in your customer’s mind
Brand position: How your brand fits in with and relates to various others within your competitive market
Brand management: Controlling the presentation of your identity and message across your entire organization and through all media and communication outlets
Brand equity: The value of your identity as an asset, based on its qualities, reputation, and recognition as well as the commitment and demand it generates. A valuable brand results in customer relationships that secure future earnings by developing brand passion and loyalty.
Don’t get overwhelmed when you hear people talk about brand message, brand promise, brand mission, brand strategy, brand extension, brand revitalization, rebranding, and a mind-boggling array of other brand terms. Armed with an understanding of the terms, you can navigate branding conversations just fine.
Branding’s essential ingredient
Brands are built around four fundamentals: product differentiation, relevance, esteem, and knowledge. But the magic ingredient that converts those fundamentals into a branding success story is consistency. If you bring consistency to your branding program, you end up with a brand that stands head and shoulders above the others.
