When you are running a business, you need to be unique and different in comparison to your competitors and you can do it with the help of effective Branding. It is a process of building a positive perception and a strong image of a company, its services or products in the minds of their customers. Branding is a combination of a theme, design, logo and mission statement and it can be done by implementing it throughout all the marketing communication. Remember that your brand should be effective enough to build a loyal and trustworthy customer base.
Brand image is the reputation of the brand that it portrays in the minds of the people. It is about the expectations of people from a particular brand. For instance, Harley Davidson has the image to make classy and luxurious bikes so it cannot make a budget bike even if there is a demand for it. Changing a brand image is difficult and unprofessional. So, before creating a brand image, be very sure about your goals because you are the one who is going to do the investment.
Brand Personality is quite close to the personalities of a human being. It acquires the personal and emotional qualities that we associate with a brand. The typography on the name of the brand and the color used in the logo adds to Brand Personality. For example, we associate the blue color with Samsung or red with KFC.
The brand story summarizes the history of the organization, its values and its shapes. It also includes the overall summary of the products and services.
Brand Identity is the way how people recognize a particular brand. It may be through the tagline or logo. It helps people to immediately get some knowledge about the services and products of a brand and it will help them to identify the brand even in a busy marketplace. The yellow M of the McDonalds is quite easy and can be recognized anywhere in the world. So is the tagline of Nike i.e. “Just Do it”.
Brand communication is the message conveyed by a brand with the help of sources such as punch lines, brochures, hoardings or advertisements. A brand needs to communicate its benefits to its customers in order to grow.
Brand Position describes the part which is meant for the description of unique values of your company, the services and the products, the reputation it carries and how it is different from others. Building a brand position is one of the major steps of building a brand.
A lot of things depend on how you place your products in the market. It defines the target audience of a brand. For example, Junior Horlicks is an energy drink which is targeted at little children. The ingredients are different from the other Horlicks products and the packaging has been made by adding colors and characters which attracts the children.