Branding is perceived to be one of the most exciting and numero-uno field in the whole of marketing. Kotler defines a brand as ‘a name, term, sign symbol or a combination of these, that identifies the maker or seller of the product’ . Thus that makes branding the process of giving the product a name, term, etc to make the maker or seller identifiable. Quite simple aint it? Lol, we all know how “simple” it is.
The first instance of branding was “cattle-branding”..basically stamping the cattle with logos to help identify your cattle! lol quite a crude origin for something so sophisticated 😛
According to me branding is like writing a gripping story for your “targetted” audience. The story should resonate with the audience, it should stand out in the crowd, it should be interesting, it should be a story someone would recommend someone else to read or rather narrate it to someone and feel proud of the fact that he or she knows the story. Dont agree with me?? Read below and i will show how the two are uncanningly so similar.
Step 1: Deciding what to write(comedy, romance, thriller, etc). “Product/service”
Step 2: Deciding who you are writing for(kids, teens, adults, etc). “Segementation , Targetting”. One size fits all?? naah…you need to decide whom it fits the best.
Step 3: Giving the story a name. “Brand name/logo “. Has to be as catchy as possible, you dont judge a book by its cover but you surely pick it up and flip through because you found the name attracted your attention.
Step 4: Writing the preface or introduction. “Increasing brand awareness”. This is like the intial trailer after the teaser ads. Giving your audience a glimpe of your story/product. At this point the customer will decide if your story/product is worth his time and money.
Step 5: Writing the body. “Building Brand Image”. You let him soak in the full experience your brand has to offer. The reader/customer forms an opinion/image about your story/product. He will use this opinion to describe you. Good or bad. Really exciting or plain jane. Innovative or same old shit.
Step 6: The End. “Building Brand Equity”. Once he has finished reading the whole story and based on whether he liked it or not he will decide whether to read your next story or not. Your “equity” is decided. Worth a cent or a million?
So in short, you try and make sure that the title is attractive to ensure he gives it a try, you try and write a good story so that he has a good experience and just cant wait to get to your next story. This lets you sell your next story at a higher price.
If i were to explain this para in branding jargon it would be : Increasing “brand awareness” to attract customers, providing a good ” experience” so that you have a strong “equity” which helps you form a distinguished ” image” which leads to you charge that extra premium for your product/service.
After all companies aint stupid to spend so much money on branding if it aint adding to their bank balance. 😛
By the way this if you have noticed this answers another very important, why are brands costlier than other products??? I assume the above explanation answers it.