When we talk about product branding, few will come close to the success of PepsiCo’s product marketing strategy for Lay’s potato chips. Brand equity is the commercial value of a product’s reputation to the company that owns it. A company’s price may be determined by adding https://www.linkedin.com/posts/samkuehnle_marketing-ppc-marketingstrategy-activity-7089208365670653952-TDzm?utm_source=share&utm_medium=member_desktop up the value of its buildings, inventory, and equipment. But its value increases if the company owns one or more brands that have attained a solid reputation with consumers. Consumers stay loyal to brands they know and trust, and with whom they already have a relationship.
Nike’s brand vs conversion strategy involves not just selling a product, but selling a story. From their website to their product descriptions to their social media, Nike takes every opportunity to tell a story about their products, their beginning or their ideas. Red Bull created a firm foundation of brand marketing through its experiential branding efforts. It successfully connected storytelling and brand awareness with one-of-a-kind event experiences.
The service is designed to be fully accessible and lacking many restrictions commonly found in other streaming platforms. Furthermore, when natural disasters strike certain regions, Coca-Cola is among the first brands to provide relief aids and offer much-needed recovery efforts. The brand strongly believes in giving back to communities and being a charitable member of society.
Now that we have those definitions out of the way, let’s explore more about how to create a brand marketing strategy that works for your business or personal brand. Your identity is the complete picture your business (or you, if you’re working on your personal brand) shows to the world. This includes your logo, brand imagery, color palette, brand voice, personality, and messaging strategy. Every marketing activity requires a strategy in order to get the best possible results.
You can also think about what consumers can expect when partnering with your company. Brand awareness refers to how familiar the general public and your target audience are with your brand. High brand awareness leads to brands being referred to as “trending,” “buzzworthy,” or “popular.” Brand awareness is important because consumers can’t consider purchasing from your brand if they’re not aware of it. Branding is the process of creating the brand identity of a company.
Brand recognition is how well a consumer (ideally in your target audience) can recognize and identify your brand without seeing your business name — through your logo, tagline, jingle, packaging, or advertising. This concept goes hand-in-hand with brand recall, which is the ability to think of a brand without any visual or https://www.linkedin.com/feed/update/urn:li:activity:7092539767426318338?updateEntityUrn=urn%3Ali%3Afs_feedUpdate%3A%28V2%2Curn%3Ali%3Aactivity%3A7092539767426318338%29%C2%AB auditory identifiers. Inform your sales and customer service folks of your brand guidelines and tell them to use them, especially when they engage directly with customers. Whether they’re sharing a branded product demo or answering customer questions, encourage them to use your logo, tagline, imagery, and brand voice.
- The Tylenol brand survived a terrifying poison scare in 1982 in part because it had been part of consumer’s lives for nearly 30 years.
- Given Mr. Peanut’s longevity, his death (although fictional) raised eyebrows.
- Take Nike’s multiple collaborations with American fashion designer Virgil Abloh, who died in 2021.
- Effective brand marketing can also increase brand recognition, improve brand reputation, and ultimately drive sales and revenue.
Put simply, branding is the identity of a company, and marketing includes the tactics and strategies which communicate that vision. While it’s easy to combine branding and marketing into one discipline, they’re quite distinct. It’s also common to hear branding and marketing compared in terms of priorities. The truth is, they are both essential to a successful business and must work in harmony for a business to grow. That said, branding is an iterative process and requires getting in touch with the heart of your customers and your business. Having stood the test of time, the Coca-Cola brand is a testament to the power of consistent, successful branding that consumers have come to love.
Leander Kahney’s 2009 book, The Cult of Mac, explores the company’s meteoric rise into the phenomenon status it has today – it’s even been updated to a second edition as that fandom has grown. Brand marketing is not like a PPC campaign or week-long sale that tries to create an immediate return on investment. Brand marketing is a slow-and-steady strategic activity, based on the company’s very essence and authenticity, so it should be seen as a long game. Ok, so now we have established what is branding, what is marketing, and how they are different, let’s add more fuel to the fire and introduce the concept of brand marketing. In conclusion, brand marketing is crucial for any business looking to establish itself as a leader. Hyundai does not expect any of their ads or touchpoints to result in a sale directly; rather, the total will build a relationship.
The stereotypical example of direct response marketing is an infomercial, but now you see the tactic in social media marketing and crowdfunding. Providers of commodity products will brand themselves around the service of reliably providing and delivering commodity products. So even these companies cannot get around the need to brand themselves.
https://www.linkedin.com/posts/sophiesteffen_digitalmarketing-digitaladvertising-marketing-activity-7090577910918504449-ROhk?utm_source=share&utm_medium=member_desktop lays the foundation by establishing the brand’s identity, values, and positioning. All companies lie on a spectrum of how much their product or service depends on brand marketing. Commodity products are on one end of the spectrum, and premium products such as wine, luxury vehicles, and resorts, which benefit significantly from brand marketing, lay on the other side of the spectrum. Companies with products that are commodities would not benefit from brand marketing. If there is truly no way to differentiate products, such as raw steel, crude oil, or copacking, it would not matter if the product came from a company with a strong brand or no brand at all. Brand marketing is an approach to advertisements, promotion, and communications that fosters a long-term relationship between the brand and the customer.
