What Is The Brand? How To Position The Brand?

What Is The Brand? How To Position The Brand?

What-Is-The-Brand-How-To-Position-The-Brand

Currently, many people are willing to spend tens of millions just to buy a limited edition Chanel bag or spend all day long in line just to satisfy their desire to own the latest Apple iPhone.

Why is that so? The answer lies in the two words “Brand”. So what is the brand that attracts so many users? Let’s find out in the following content.

What Is The Brand?

The brand is an intangible asset that is extremely valuable to a business, to understand what a brand is, let’s analyze it in detail as follows: A brand is a name or a trademark used to distinguish one business from another.

However, with the development of today’s society, the above definition is no longer correct. Brands today are no longer simply names, slogans, symbols, logos, or product categories.

Billionaire Jeff Bezos, CEO of Amazon once shared “Your brand is what people say about you when you are not present”. Thus, we can define the brand as follows: Brand is how people perceive and evaluate their experience with your products and services.

The Four Elements That Make Up A Brand

Customer Experience

We have understood the main brand that customers feel about the products and services of the business.

To get a positive perception from the “Gods”, businesses need to create unique experiences that make customers crave and proud every time they mention the brand.

Style

A brand without its own substance will become blurred among many similar products and cannot compete in the market. The unique style of the business is also understood as the brand personality.

Consistency

Brand consistency is reflected in the maintenance of stable quality, professionalism, and reputation of the business. Consistency has a huge impact on customer experience and customer loyalty.

Marketing Activities

A successful brand is known by many people because the business has a specific marketing strategy, conveys the right message to the right target customers through many different channels.

Due to the large budgets for marketing activities, large companies often have many opportunities to reach potential customers, increase their brand awareness with television advertisements, outdoor ads, and press releases.

However, small and medium companies can still promote their brands through Online Marketing tools such as Facebook Ads, SEO services, Content Marketing, Google Ads, etc.

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Why Build A Brand?

According to Donald Trump – the 45th president of the United States, “If your business is not a brand, it is nothing more than a commodity”.

Indeed, even though a bag sold in a supermarket is more diverse in style, more colorful, and costs even ten times less than a bag sold in a Chanel store, women are still willing to spend some huge money just to get a Chanel bag in his collection.

What they buy here is not a handbag, but a Chanel brand; their real need is not to buy a bag for storing things, but to affirm their value, social status as well as income level.

Sharing the same opinion with Mr. Trump, Stephen King also said: “A product is something that is made in a factory. The brand is what customers buy.

A product is something that can be easily imitated. The brand is unique”, For this reason, businesses must pay attention to branding to increase their value in the market.

When the value of the business increases, the selling price of products and services also increases, which means sales also increase. In addition, customer loyalty and customer lifecycle will also increase significantly.

Brand Positioning

Philip Kotler, the marketing legend in the world has defined the concept of “brand positioning” as follows: “Brand positioning is a set of activities aimed at creating a position for products and product brands, fixed in the mind of the customer”.

To position your brand, businesses need to conduct an analysis of how the market is changing, what are the needs of potential customers, and what competitors are doing, from which to find out what makes them unique. affirming the position and value of the brand in the market.

Businesses can position their brand in the following 9 ways:

   [+]   Product positioning by quality

   [+]   Product positioning by value

   [+]   Product positioning by price

   [+]   Product positioning by relationship: The relationship here can be a relationship with other product lines of the business, a relationship with a competitor, or a relationship with customers.

   [+]   Positioning products according to customer wishes

   [+]   Product positioning by problem, solution

   [+]   Positioning products according to competitors

   [+]   Product positioning by emotion

   [+]   Product positioning by use

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Conclude

The brand is the perception of customers about the products and services of the business. The four key factors that help businesses create a successful brand are: providing a great experience for customers, creating a unique style, unmistakable compared to the market; maintaining stability in product and service quality.

Finally, promoting online and offline marketing and communication activities to improve brand awareness, creating a close connection between the brand and the target market.

Brand positioning is creating a highlight, affirming the unique value of a brand compared to competitors so that the brand is always present in the minds of potential customers.

To position the brand, businesses need to conduct analysis and assessment of the market and competitors to know where they are in the market, what value they bring to customers, and What is the unique point that only each business has that no other business has.

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