- Jan 23, 2013
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A brand is the most misunderstood and broadly defined concept in modern marketing
Perhaps that is because brands are highly sophisticated and require rigorous strategies to increase their value. Obviously key to a brand’s value is the development of loyal customers that come back again and again. For that reason, one of the definitions we like best is; “a brand is a mixture of attributes, tangible and intangible, symbolised by a trademark, which if managed properly, creates value and influence”.
The word “value” represents different interpretations. From being the promise and delivery of an experience to the security of future earnings and, from a legal perspective, a piece of intellectual property.
The definition goes on to say; “A brand is intended to secure future earnings by growing customer preference and loyalty. Brands simplify decision-making, represent an assurance of quality, and offer a relevant and credible choice among competing offerings.”
So, “when is a brand not a brand?” I hear you ask.
A brand is not an advertising campaign, a slogan, or a logo. Nor is a brand solely created for the customer. Instead it must resonate with all stakeholders: employees, shareholders, customers, partners, and end users.
At Interrelated we can help you create, build and manage your brand. And, in most cases, we believe a brand building exercise makes economic sense. Primarily because it leverages existing marketing spend to greater effect. Brands are assets and the value of a strong brand is incontestable.