Defining Branding – 25
“Over time, brands have become important as they set an expectation of quality or price”
Brands exist wherever there is a competitive marketplace. They help to choose one product over another, in the current world there is little difference between products or they are difficult to evaluate. Many of the products have similar features or standards. People can simply choose on price, availability and location but where there is competition the brand is what matters.
Brands today represent more than a product, service or identity (logo, name, design, tone of voice). It is the synonymous with the business and the style behind the product or service. Brands offer a set of values, a vision and an attitude.
Once a brand has established itself in the market it must continue to prove its effectiveness to stay in the market through ongoing brand activity.
At the heart of every brand is its audience. The consumer is no longer simply the person buying the product but a broad range of stakeholders who include customers through to employees to external agencies and local communities.
“Brands used to be impenetrable forces; there used to be a magic and a mystery to how things happened and where they came from, most people didn’t care the, but now they do. They care because they’ve got the time and the money to care. We’re going through sustained economic growth – we’re better off and better educated and corporate bashing is entertaining. The smart brands realize that they can’t address all these questions so opt for the alternative: to try and engage people to take the brand with them” – Ralph Ardill, Experiential Consultant
Why is branding important? – 32
” A brand males value visible: value in the product or service and value in the corporation” – Steve Everhard
Branding is important because of its relationship and impact on the world we live in. Brands affect peoples live simply because they are part of our daily choices and decisions.
People are passionate about brands whether they support them or not. Its the audience that has the power to change and influence the direction of branding; to determine whats important to their future and, as a consequence, to the future of branding.