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In the realm of marketing, the words ‘brand’ and ‘branding’ are used a lot and for good reason. Well executed branding is critical for a business to not only break through the ad-infested digital world we live in, but to stay top-of-mind with consumers.
At Splashing Duck, we want to give you the tools to successfully wade through marketing in this digital world and we thought the best place to start would be with a quick crash course on 9 key terms related to the world of branding.
Are you ready?
A brand is the personality of a business and a promise to its customers. It encompasses who you are, who you want to be, how customers feel about you.
Brand development as we prefer to call it is the process of creating a brand. It involves the positioning of a business, product or service in the market.
The unique collection of a name, logo, colours and tagline a business used to distinguish their products and services.
Brand experience is the emotion customers have when interacting with your brand. The experiences your customers have with your products and services should mirror your brand identity.
Brand identity is how a business would like to be perceived by customers and includes elements such as logo, colour palettes, tagline, and voice.
Brand image is how you are actually perceived by customers and does not always match your brand identity. When there is a disconnect, you may need to consider rebranding.
Your brand message is the value proposition statement used to inform customers what your brand stands for and what makes your brand different then your competitors.
Brand strategy is the how, what, when, where and to whom, you are trying to reach with your product or service. Like all marketing strategies, being clear and concise leads to stronger positive feelings towards your products and services and affects how much customers will pay you for it.
Co-branding is the practice of combining two or more brands to elevate and/or increase exposure of one or both brands.
Rebranding is when a business changes prominent elements of their brand such as their name, logo, colour scheme, or messaging to better reflect their brand promise. (more on brand promise later this month).
Are there any terms you think we missed? Let’s chat!