A brand is "a company's face to the world," according to the New York Times. Strong brands leave a lasting impression. Even small or emerging businesses should invest heavily in developing a brand identity, especially during their formative stages. Brands are visually expressed through a logo or symbol. A brand can be used to build recognition and customer loyalty or to deliver a message that tells customers what to expect.
Brand Loyalty
Branding is a process of differentiating one company from another. The best way to market a brand is through media advertisements. Companies use advertising to send a message to their consumers. Successful brands know manage and develop brand loyalty by cultivating enduring relationships with their customer base. Brand loyalty is especially effective when used for targeting niche markets. Companies can use various types of marketing strategies to generate loyal customers. Brands become more profitable as their percentage of loyal consumers increases.
Features
Brands consist of internal and external elements. Internal brand elements help consumers identify with brands that express who they are; internal brand elements help consumers build a self-image. Brands can be used to promote or enhance a sense of self-worth or identity. External elements of a brand like the physical characteristics can be used to cultivate a recognition between consumers and a brand. Both internal and external characteristics of a brand help build customer loyalty. Companies with a strong brand reputation have longevity.
Consistency
While markets change, an important characteristic of brand identity is consistency. Brands that provide a consistent message stand out. This includes logos, which represent a firm. Customers see a wide array of brands daily; a consistent logo and brand identity represents the quality and expertise that a company has to offer. Consumers easily recognize a company that has a consistent brand identity. Maintaining consistency through various advertising campaigns helps a company differentiate itself from competitors.
Brand Management
Brand management is a process by which companies instill certain values and perceptions about their product and encourages consumers to develop a positive buying behavior. To cultivate a positive buying behavior in consumers, companies must have a thorough knowledge of their customer base. An important aspect of brand management involves knowing the kind of effect a brand has on consumers. Powerful brands have the ability to cause consumers to either defer or refuse to purchase similar products made by other brands.
Tags: brand identity, brand elements, brand elements help, buying behavior, customer base, customer loyalty