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Back to the Basics: 16 Key Branding Terms Defined

Posted by Danya Hejazeh on Jul 2, 2015 11:51:44 AM

No matter how large or small your business, branding is key to its success. Branding is fundamental, essesential and basic  -- without it, there is no differentiation between your product and anyone else's and no route to long-term profitability.

Because branding plays such a crucial role in overall business strategy, we're offering a little refresher in this Back to the Basics post.  Here's a list of 16 crucial branding terms every business owner should know.

 

Unknown-1-21.  Brand: A distinguishing symbol, mark, logo, name, word, sentence or a combination of these items that companies use to distinguish their product from others in the market.

2.  Brand Asset:  
Any aspect of a brand that has strategic value — e.g., visual symbols, slogans, sounds, photos, mascots, etc.

3.  Brand Equity:  A brand’s power derived from the goodwill and name recognition that it has earned over time, which translates into higher sales volume and higher profit margins against competing brands.

4.  Brand Experience: Brand experience is conceptualized as sensations, feelings, cognitions and behavioral responses evoked by brand-related stimuli that are part of a brand‘s design and identity, packaging, communications and environments. 

Unknown-2-15.  Brand Extension: 
A common method of launching a new product by using an existing brand name on a new product in a different category. Think Clorox Toilet Bowl Cleaner.

6.  Brand Identity
: How a business wants its brand’s name, communication style, logo and other visual elements to be perceived by consumers.

7.  Brand Image
:  How consumers actually perceive a brand.

8.  Brand Promise: Consumer expectations about what the brand will deliver. The experience — good or bad — one can expect from a brand. When an organization defines its brand promise, it should be differentiated, relevant, credible and irreproducible. 

9.  Co-branding: 
A marketing partnership between at least two different brands of goods or services. Think Dairy Queen and the Girls Scouts’ Thin Mint Blizzard.

10. Differentiation:  Creation or demonstration of unique characteristics in a company’s products or brands compared to those of its competitors.

11. Positioning Statement: A written description of the position that a company wishes itself, its product or its brand to occupy in the minds of a defined target audience.

12. Rebranding: When a business or organization decides to change a significant element of the brand. Changes can be very obvious such as a new logo or more subtle such as a slight shift in messaging.

13.  Repositioning
: Communications activities to give an existing product a new position in customers’ minds 

images-1214. Tagline: A frequently repeated word, phrase or statement that captures the essence of a brand’s promise. An expression that conveys the most important attribute or benefit that the advertiser wishes to convey.

15. Unique Selling Proposition (USP)
: The driving competitive advantage of a product. 

16. Visual Identity
:  What a brand looks like – including logo, typography, packaging, etc.

 

***Many thanks to Brand Channel, AMA, Investopedia, Financial Brand and Columbia Business School for these definitions.

Topics: Best Practices for Businesses, Branding, Back to Basics

The Science of Brands on Instagram

Posted by Liza Rodriguez on Jun 8, 2015 11:48:00 AM

Still trying to figure out where to spend your time on social?  Here's a tip:  if you're not marketing on Instagram, it's time to start, especially if you are looking to reach audiences that are willing to engage with your brand.

As a recent article published in Fast Company mentions, "all data indicates that users are moving away from Twitter and Facebook and shifting their time to Instagram."  On top of that, Instagram users are more actively engaged on the network.  Forrester Research found that Instagram users were 58 times more likely to like, comment or share a brand's post than Facebook users and 120 times more likely than those using Twitter.

If you're not sure where to start, check out this handy dandy infographic from our friends at KISSmetrics.  It has some helpful tips for building a successful Instagram strategy.

 

 

The-Science-of-Brands-on-Instagram

Topics: Branding

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