The value of branding

In his book, Brands in the Balance; Meeting the Challenges of Corporate Identity, author Kevin Drawbaugh underlines the fact that brands have to work harder than ever before to stand out. Why? Because brands – the ideas, words, logos and graphic designs that symbolise products, services and the companies behind them – are the hot idea in business today!One cannot deny that, for most companies, success is linked to a strong brand name and corporate image.

One need look no further than major brands like Coca-Cola, IBM or MacDonalds to appreciate this.Company names are often created to emphasise associations with elements around the nature of the business and in order to put a stamp on the business product. For this reason, aggressive brand-building is required to ensure that the products and the company achieve their optimum market-share.In establishing an image, a company needs to ask itself how best it can communicate with its target market.

This becomes crucial especially in our e-society, where consumption patterns and consumer behaviour is becoming more dynamic and demanding every day.Consumption and consumer behaviour are changing all the time, but one thing that can never change is a company’s promise to deliver. On first impression, this promise is encapsulated in a company’s name, logo and signage: the tools used to attract clients to the business.

The name and the logo “speak” the brand.However, it is to be noted that the way in which a company name or image becomes a brand depends on various factors, like consistent quality, broad appeal and the supply of competitive products and services that give business owners the major edge in building strong and meaningful relationships with their customers.Perception holds that an advertising campaign is the driving force behind a product, but reality tends to differ.

Advertising is a transient communication tool. Market research indicates that aside from advertising, a company needs to take a strategic and integrated approach to getting itself known and making a name for itself. Substantial internal education and brand acceptance and a clear definition of the customer base are of vital importance. In addition, aggressive brand-building ensures that a product achieves broad market-share.

When a company’s name becomes a generic term, such as “Xerox” or “Fedex”, this provides the proof that the branding exercise has been carried out to perfection.