WEEK 12 -
BRANDING AND MARKETING

“A brand is a name, term, design, symbol, or any other feature that identifies one seller’s good or service as distinct from those of other sellers”

BRAND SPECIES

BRAND AWARENESS

A successful brand accurately portrays the message or feeling the company is trying to get across and results in brand awareness, or the recognition of the brand's existence and what it offers. On the other hand, an ineffective brand often results from miscommunication.

BRAND EQUITY

Once a brand has created positive sentiment among its target audience, the firm is said to have built brand equity. Some examples of firms with brand equity—possessing very recognizable brands of products—are Microsoft, Coca-Cola, Ferrari, Apple, and Disney.

BRAND LOYALTY

If done right, a brand results in an increase in sales for not just the specific product being sold, but also for other products sold by the same company. A good brand engenders trust in the consumer, and, after having a good experience with one product, the consumer is more likely to try another product related to the same brand. This phenomenon is often referred to as brand loyalty.

PERSONAL BRAND

the conscious and intentional effort to create and influence public perception of an individual by positioning them as an authority in their industry, elevating their credibility, and differentiating themselves from the competition, to ultimately advance their career, increase their circle of influence, and have a larger impact. The process of personal branding involves finding your uniqueness, building a reputation on the things you want to be known for, and then allowing yourself to be known for them. Ultimately, the goal is to create something that conveys a message and that can be monetized. This is what will be the first logo/brand of your company.