What makes a brand?
“A brand is a particular and unique construct that creates, communicates and sustains value for all its stakeholders through it products and/or services” (Brand strategy 1A Module Guide, 2012) A brand stands for something and adds meaning to the lives of people. A brand has a mission statement. “It is the emotional and psychological relationship you have with your customers. Strong brands elicit thoughts, emotions, and sometimes physiological responses from customers” (www.themarketingspot.com; 30 April 2012). For example, in an experiment conducted between Coca-Cola and Pepsi, 67 subjects were connected to brainwave monitoring machines, and when they consumed both products on unmarked cans, the consumer preferences were split evenly. However, when the brands were identifiable, 75% of the consumers chose Coca-Cola over Pepsi, hereby showing the relationship between consumer inclinations and branding (Principles of marketing; 255). This case study shows the importance of what a brand portrays, as Coca-Cola has built up a strong loyalty base with their consumers, who will support their brand over other similar brands.
A brand is a company’s image and forms the cornerstone upon which the rest of the company’s actions and purpose will be based. Principles of Marketing textbook defines a brand as “A name, term, sign, symbol, design or a combination of these, that identifies the products or services of one seller or group of sellers and differentiates them from those of competitors” (page 255). This means that a brand is a combination of what the company looks like, does, aims to achieve and wants to be portrayed as.
Successful brands have a meaningful message that is delivered with absolute consistency. A strong brand builds customer loyalty and interacts with its consumers. Successful brands become a part of their consumers’ households as consumers become loyal and rely on a certain brand to deliver new products or services. A brand is a...