Brand Building is generating awareness, and establishing and promoting a company using strategies and tactics. In other words, brand building is enhancing brand equity using advertising campaigns and promotional strategies. Branding is a crucial aspect of the company because it is the visual voice of the company. The goal of brand building is to create a unique image for the company.
Process of Brand Building
Brand building can be initiated with a well-thought brand identity which can help create a strong brand image that goes a long way in consolidating the brand.
Brand Building comprises creating value for consumers that how consumers feel, think, and know about your brand. There are three popular brands known-
• Product brand: A physical product or items or goods are a product brand. Brand building is ensuring a good quality product is given to the customer along with good brand visibility, packaging, warranty, etc. All these cumulatively help in brand building. Examples of product brands are Adidas, Rolex, etc.
• Service Brand: A non-tangible offering is a service brand like telecom service, eCommerce, etc. In this case, brand building is most dependent on the experience that a customer gets. Examples of service brands are McDonald’s, Starbucks, etc.
• Retail Brand: Retail brands are a combination of service & product i.e. products are sold through a service offering. Hence brand building has to ensure a good customer experience as well as high-quality products. Examples of retail brands are Tesco, Walmart, etc.
Process of Brand Building
There is no definite way of brand building. Brand building requires innovation, creativity, correct value proposition, constant monitoring & ensuring good customer experience.
Steps involved in the brand building are-
• Describe your brand: The first step of brand building is to describe the brand. This can be done through product descriptions, packaging, logos, etc. The way a brand is defined builds brand equity and forms the foundation of customer perception.
• Brand Differentiation & Positioning: Once a product or service is created, it is critical that the brand is differentiated from its competition with some unique value. Also, positioning the brand correctly is an essential element of brand building.
• Brand Promotion: Advertising & promoting the brand using TVCs, social media, print ads, online advertising, etc is one of the most important pillars of brand building as it helps in creating brand awareness. Correct communication and effective media channels can help build a strong brand and helps increase brand recall.
• Personalise the Brand: Brand building can be effective if a customer feels connected to it. Hence giving a personal touch to the customer, through innovation and customization can help build a stronger perception in the mind of the customer.
• Evaluate the Brand: It is important that a company keeps on monitoring and reviewing the performance of its products, services, and brands. Hence evaluation & review of a brand is an essential element of brand building.
Brand-building strategies should be adopted accordingly which helps in creating and differentiating brand value and developing the right impression for the company for which it truly stands. Depending on your brand-building exercises, your brand may grow, remain stagnant, or recede with time. So in the brand cycle, there is a continuous need of bringing new strategies, events, and activities that maintain the brand promise. Consumers are co-creators of the brand so their preferences and demands should be met and strategies should be designed by keeping consumers in mind. To create a unique and powerful brand there is a need for time and consistency. So brand Building is an integral part of business development and involves various strategies and tactics over time.
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