What is a brand?
The practice of branding started as early as 2700 BC, by taking a hot iron and burning a distinct mark that signified the livestock was owned by a particular person. Today we recognize logos, names, terms, designs, or other features to distinguised a person, product, or organization from its competitors in business.
What is your brand?
Your brand suggests your values and promises that your customers may perceive and ultimately buy into. Some of the key components necessary are the brand's identity, the brand's communication, brand awareness, brand loyalty, and other branding strategies.
What is your brand identity?
According to Kotler et al. (2009), a brand's identity may deliver four levels of meaning:
Once your brand has a solid following and your brand awareness arises you will be approached about various types of partnerships or business opportunities. Often times these amount to an endorsement. Your brand would advertise another product that seems to align with your brand identity. The other party is asking you to use your brand equity to promote their product.
Take careful consideration before entering into any agreement that might jeopardize your brand integrity. This could cause you to make a short-term gain but a long-term loss.
One way of raising you brand awareness is by strategic marketing. After you've identified your brand identity you are now ready to implement the first steps of brand recognition. When your customers experience brand recognition, they are triggered by a verbal or visual clue.
Your marketing strategy will be guided by the brand elements and brand communication.