Brand vs. Branding: There is a difference
The 21st century is dominated by brands. The correct placement of a brand will influence all aspects of a company, from sales to inter-organisational relations. The problem is that many companies labour under the misconception that banners and marketing materials are the entire existence of your brand. In the physical sense, a logo and colour scheme do represent your brand; however the idea that a physical placement represents your entire brand is ultimately incorrect. Your brand is in fact the entire identity of your company from communications all the way to employee relations.
Think of your brand as a person. Your logo, colour scheme and seemingly insignificant aspects such as your choice of font are some of the physical symbols that represent your brand, somewhat like your face or hair colour. Like a person, physical characteristics will allow for differentiation but they don’t necessarily tell us anything about personality or experience. As is often said, looks can be deceiving!
Now we’re going to be covering the idea of brand identity in more detail over the next few blog installments. Before we do this, lets first look at how we break down a brand and ultimately determine an equity evaluation. To start with, take some time and read up on some equity evaluations on major brands.
There are several ways that brand evaluations can be done. These vary depending on the company conducting the evaluation and the final requirements of said evaluation. These brand reports look at all of the aspects of a company brand and then determine their final value. Here are a couple highly distinguished brand reports that would definitely be a worthwhile read:
Read up and catch us next week for the next installment of the Bangula guide to branding!