27 Aug What Do You Understand by Brand Creation?
In an era of knowledge economy, brands are intellectual properties that provide true competitive differentiators and are an asset in their own rights. Creation of a brand is a rigorous, research based discipline that draws upon cutting edge insights from diverse disciplines like psychology, anthropology, marketing and technology.
Brand creation is not a one-time activity. The process of brand creation is enduring, staying with the consumers for the longest period. A brand, built with defined brand architecture, has a stronger recall than compared to just an advertisement – one of the communication processes, used to accentuate the brand equity.
Sometimes, a particular product or service may already be in the market. However it’s in need of a major change in the premise it stands for, to adapt to changing consumer needs or to become relevant to a new set of consumers – the process called brand rejuvenation. Rejuvenating a brand is a different process than compared to brand creation. Even though it follows a process similar to brand architecture process, in Brand rejuvenation there is already some information and insight available about the consumer reactions which help in the repositioning of a brand or its re-creation.
There is a set of frameworks and techniques which is utilized to come up with the final premise on which a brand is established. Branding workshops is one such example which helps immensely in identifying the correct target consumer segment and the significant consumer trigger factors, helping to evolve an optimal brand design.
As mentioned before, there are several communication processes which are leveraged to elevate the brand value. But one of the most important and proximate to the consumer during purchase is packaging. Packaging conveys in an instant what the brand wants to communicate and how it communicates it. Innovative ways of retail branding are also catching up in the new modern era to leave a lasting impression on the consumers. And with digital soon taking over the world, website and other interactive design which translates the brand essence into digital terms has become a pre-requisite tool in the toolkit of the modern marketer along with various reputation management techniques.
With an ever evolving consumer set, there is always going to be a need for innovative ways to translate what the true essence of a brand is. Having a strong brand seed to stand on is what can help the product as well as the brand in the long run.
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