10 branding terms every marketing professional should know about + bonus tips
In this blog are described the 10 of the most important branding terms that every marketing professional should know about.
What is Branding?
Branding is the process of creating a strong, positive perception of a company, its products or services in the customer’s mind by combining such elements as logo, design, mission statement, and a consistent theme throughout all marketing communications.
10 branding terms you should know about –
#1 Brand Archetype(s)
Category of brands that share specific, universally recognizable personality traits, attitudes and behaviors.
Take this quiz and know what’s your type!
#2 Brand Equity
The value of brand’s financial and non – financial assets measured by its consumer perception and influence.
With the term brand equity, marketers describe the “value” of a brand.
#3 Brand Valuation
The estimated financial value of all the tangible and intangible assets of the brand.
Example – Brand value of Amazon in 2018 was $150.8 billion. In terms of market capitalization and revenue, Amazon is the largest online business.
#4. Brand Audit
A thorough examination of a brand to uncover performance, position and customer insights.
#6 Brand extension
Leveraging the values of a brand to take the brand into new markets/sectors.
#7 Brand Salience
The strength and weakness of a brand in a particular purchasing decision, influenced by it’s brand positioning.
The act of upgrading or revising a brand.
#9 Brand Attributes
The touchstones that define the quality and personality of the brand in the minds of the customers.
#10 Brand Map
A visual manifestation of a brand that provides a top level view of all its inner workings, including employee roles, branding purpose, offers and pricing. It is crucial for all entrepreneurs to have a brand map.
#Bonus – Parent Brand & Sub Brand
A brand that acts as an endorsement to one or more Sub Brands is a Parent Brand.
A product or service that has its own name, design and identity, affiliated with a parent or master brand is a Sub brand.
Bonus Tips for brilliant branding –
#1 Be clear about your Brand Purpose
All great brands in the world have a brand purpose. This one attribute is going to drive most of your business and will determine how permanent and invincible your brand will be in the society.
#2 Get the best Logo and Tagline
The Logo and the Tagline should be catchy, impactful, intelligent, simple and related to the purpose of your brand.
#3 Color Uniformity
All your social media handles, Your website, Your Logo, Your advertisements – Every single where you HAVE TO follow a uniformity in your brand colors. Every color has something to say, chose your brand colors wisely according to your brand personality and target audience.
#4 Mind the Brand Personality
You have to be clear about your brand personality and that should be based on your target audience. You may be expressing your brand’s personality in various forms such as tone of text in your social media and blog posts, the tagline, the kind of advertisements you run. Be mindful of it.
Share this blog with other marketing professionals if you liked it and have a great day ahead.