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What are the Key Elements of Branding?
September 19, 2018
Branding has become more important than ever today. In fact, some of the biggest companies in the world have their assets tied up in goodwill and the other intangible assets are collectively referred to as their “brand”. However, not many marketing experts understand how branding works exactly.
For effective and powerful branding, the most important thing is to understand the key elements first. These are:
Target Audience
For B2C companies, the target audience is individuals or customers. However, for B2B companies, the target audience include department managers, purchase managers, or even a team of executives. So, branding has to be approached differently for them. For instance, internal branding plays a big role here because the employees are required to have a good understanding of their brand and must assume the role of brand ambassadors.
Brand Voice
A brand has a personality and hence, a voice as well. A company can choose a casual and informal brand voice or one that’s serious and buttoned down depending on what kind of brand it wants to create. However, the important thing is that the voice should be relatable to the target audience.
Brand Values
A brand must have certain core values that make it unique. The following are some examples of top companies along with their primary core values:
- Coca-Cola- happiness
- Whole Foods Market- wholesome
- IDEA- possibility
The core values define what an organization stands for. They give it an identity and help attract individuals that associate with these values and eventually become customers.
Branding is all about creating a unique image of a product or service for the customers of a particular company. However, there is no “one size fits all” strategy which is why each organization has to figure out its own strategy.
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- TSCMC: https://ask.careers/?post_type=institute&p=401419
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