Defining Corporate Identity, Brand Identity & Brand Image
In order to understand what a brand is and how it is built, we need to know the meaning of the word 'brand'.
A brand is the name, symbol or slogan used by a company that distinguishes its goods from those made by others. For example, if you were shopping for a new laptop and had your iphone linked to your bank account then you would know exactly which laptop was best for you because that's where your bank account balance gets transferred if you buy it. A company has one brand but two identities; one is their corporate identity which tells people who they are in terms of products and services offered, while the other identity is their brand image which defines them visually.
People may not consciously choose a brand but a brand chooses them.
A brand is only as good as the references it has in people's minds. Those references are made up of its name, symbol, slogan and personality. In order to build a successful brand you must have at least three of these five factors in place. A successful corporate identity should be based on the corporate mission and values of the organization; this allows people to identify with the corporation and be compelled by their success. A strong brand image is then built around that through advertising, public relations and marketing. It is vital that the corporate mission and values are in sync with the brand image because the brand name, symbol or slogan is already a part of it.
The way a company promotes itself and its products or services is essential to building a strong brand. A strong corporate identity should distinguish what one organization offers from that of another. The way a corporation spends its money creating awareness of its brand is also important to building its image. This can include sponsorships, advertising, public relations and direct marketing. Also, the company's website must help spread awareness of the products offered by highlighting their benefits clearly where possible instead of simply telling people how good their products are which may sound too salesy and thus less believable to an audience.
A brand is more than just the name, symbol and slogan of a company; it is also made up of their personality and how they act in relation to others. A company needs to be able to stand out on the market so that people can identify it. They may not consciously choose a brand but a brand chooses them. Therefore, companies need to have public relations or marketing that focuses on unique experiences as opposed to just being about selling products. The personality of a company should also be communicated through their employees' behaviours and communication styles. A lot can be achieved in this way including building confidence in customers, reducing anxiety, increasing trust, bringing happiness and even changing attitudes through creativity and innovation.
The five essential factors for building a strong brand image are:
A brand must be able to stand out from the competition in order to be noticed and build a corporate identity. One way to direct consumers to your products is by creating an advertising campaign. Advertising campaigns are vital to building a brand because they create awareness of a product, its name, symbol or slogan and how it works. If one company's advertising is especially good then this company will get more customers than the others which means there will also be less competitors for them. So, in order to get more customers you need good advertising or marketing strategies so you can outsell the competition.
In order to make products stand out from each other, companies need to differentiate between their brand name, logo or slogan and that of the competition's. This could be done through colour or font. The way a company is able to differentiate between its brand and its competitors' is through strategic marketing. Strategic marketing is the process of creating a unique image for a product or service in order to make it stand out on the market. In order to create a unique image you need to present your products with an emotional appeal because emotional appeals are far more effective than rational ones. A company may also choose to promote their brand by purchasing advertising space on radio, television or on billboards. Overall, a successful brand is one that stands out on the market and is memorable.
A brand should be memorable because it makes the consumer feel special. If a consumer buys the same product or service each time they shop then they will choose the brand they buy more often than any other because it has become familiar. So, if consumers choose to buy a brand more often then competitors', then this company has earned market share which gives them more power to create new products or stay in business. This can be done by giving consumers an experience that will make them want to be loyal to a certain brand; these experiences are typically sensory.