Income tax Refund Status Strategic move:
Brand Identity is the tool marketers use to articulate the rules for brand gestures. Successful companies use the brand as a filter for determining whom to hire, which businesses to participate in, what partnerships to pursue and more.
As a result, creating a brand identity is one of the most important steps a company can take to ensure a consistent, enduring brand. Brand Identity is meant for internal consumption.
Once developed, the best practice is to internalize it up and down the organization, so that everyone making decisions that impact the brand is working from the same understanding.
Disney Cruise Lines does not have a casino and never will, despite the potential for generating revenue. Ronald McDonald will never march in a gay pride parade. These are extreme examples, but the difference between a clearly defined brand and a fuzzy one often rests on the ability to discern boundaries.
Our Brand Identity Model There are many different ideas about the best way to define a brand identity. After reviewing several, we concluded there is no one right way, but there are elements that are important to include.
All brand identities have at least three components: But some brands need more elaboration. A comprehensive Brand Identity fully elaborates each element of the prism, describing what it means and just as importantly, what it does not mean. Elaborations can include images, relevant quotes, evidence from customer research, third party endorsements or product claims.
Here is a brief description of each element: What do we do?
Capabilities describe what the brand has to do well to win with customers. This usually means how it performs relative to what customers want and need from the category.
How do we deliver? Capabilities describe what a company does, Personality describes how. Jennifer Aaker identified five primary dimensions for describing brand personality: What do we care about most? How do we treat one another?
Company culture has always been important to iconic brandssuch as Nike, Apple, Google and Harley-Davidson. It is the key to understanding the difference between these brands and their competitors. Many company founders were also customers — that is, highly engaged users of their products or services with a clear and aligned set of values.
As companies grow, it is imperative that they ensure employees and other stakeholders are inspired by the brand and want to live its values.
This facet of the Brand Identity ensures that culture is genuinely nurtured by internal branding efforts as well as customer-facing activities. What do we have in common?
Our Brand Identity model takes into account the growing importance of shared values and experiences in brand building. Leading brands create, inspire, support and embrace ways to engage customers in immersive experiences.
Today, digital and social media are redefining community and providing brands with tools that make it easier than ever to help their users to find one another, compare notes and share their stories.
Why do we exist? Noble Purpose answers the most important question addressed by the Brand Identity. These are more than phrases, they are compelling forces that resonate with customers, inspire loyalty and motivate internal audiences.
It frames the enterprise mission and objectives in a new way. All profits are not equal. Those that advance society are better and those that detract from society are inferior.Before we can start with working on how to develop our brand equity we first need to understand the facets of our own brand.
To do this we start with a brand identity model. There are a lot of different models that we can use but I’m going to run you through through Kapferer’s Brand Identity Prism.
The brand identity (BI) model, sometimes called the Aaker Model, was introduced in my book “ Building Strong Brands ” back in and was refined and elaborated four years later in my book “ . Kapferer Brand Identity Prism tells us, with examples, how to give the brand a much needed identity considering six important facets of brand identity.
The Relationship is, according to Kapferer, externalizing the brand from the company outwards, and the culture is an aid for internalizing the brand in the organization and in to the conscious of the customer The Culture is, according to Kapferer, the strongest dimension in the prism.
Strategic move: HUL transfers licence of Lakme, Ayush to arm HUL transfers licence of Lakme, Ayush to arm considering that Lakme, per se, has a strong brand equity in personal care and HUL. A model for the management of brand equity is also offered.
Brands and brand equity: definition and management Management Decision 38/9  – Farquhar () suggests a relationship between high brand equity and market power asserting that: Brands and brand equity.